Lawyers for Sam Bankman-Fried have denied that he attempted to intimidate witnesses in his criminal trial by talking to New York Times reporters and argued there is no reason to jail him. In an Aug. 1 letter to Judge Lewis Kaplan, Bankman-Fried’s lawyers claimed the prosecution’s attempt to revoke his bail and have him detained are “extremely thin” and heavily…
A body representing FTX customers said it is “extremely disappointed” by the exchange’s draft bankruptcy exit plan and claims it was ignored by FTX’s restructuring team. In a July 31 court filing, FTX’s Official Committee of Unsecured Creditors (UCC) said despite its repeated requests and previous promises from the team, it “did not have a single call or meeting” with…
Business intelligence firm MicroStrategy — one of the largest corporate holders of Bitcoin (BTC) in the United States — managed to return to profitability in the second quarter amid a surge in the price of Bitcoin. In a Q2 earnings results filing posted on Aug. 1, MicroStrategy reported $22.2 million in net income, a massive swing from a net loss…
A team of South Korean scientists led by physicist Seok-bae Lee recently sent shockwaves through the scientific community by announcing the discovery of the first room temperature superconductor. But the research paper has been both praised and pilloried by a scientific community eager to independently test its findings. In two preprint papers posted on arXiv, Lee and colleagues at the…
ApeCoin, the Ethereum-based token set to power Yuga Labs’ ambitious Otherside metaverse game and other apps, slipped to an all-time low on Tuesday as the firm’s “blue chip” Bored Ape Yacht Club NFT collection faced renewed pressure as well. Known for its link to the valuable Bored Ape profile pictures (PFPs), ApeCoin fell as low as $1.77 late Monday and…
This story comes from GG. Your Web3 Gaming Power-Up Discover GG What happens when you combine hardcore baseball stats with experimental blockchain tech? A data-heavy, browser-based game called The Boys of Summer—NFT artist Mitchell F. Chan’s latest obsession. Long before Chan became known among NFT collectors for his influential and experimental work, he was a college student attending Ottawa Lynx…
Gaming retail company GameStop has announced it will remove its digital wallets from the market starting in November, citing “regulatory uncertainty of the crypto space”. In a notice posted to its website, GameStop said iOS and Chrome Extension wallets will no longer be available starting on Nov. 1, advising users to ensure they have access to their secret passphrases by…
Business intelligence company MicroStrategy—one of the largest institutional holders of Bitcoin in the U.S.—reported a $24.1 million impairment charge on its crypto holdings today but nonetheless returned to profitability this quarter. MicroStrategy said in its Q2 2023 earnings report that it bought even more Bitcoin in July. The largest publicly traded company with Bitcoin on its balance sheet now says…
Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has submitted documentation to court claiming he is fully a citizen of Singapore and not the United States. In an Aug. 1 filing with U.S. Bankruptcy Court for the Southern District of New York, Davies provided notarized and Apostilled copies of the form applying for the renunciation…
Scammers set their sights on Voyager Digital customers during the month-long window when they were able to withdraw some portion of their funds from the bankrupt crypto brokerage, Bloomberg reported, citing Darren Azman, a lawyer for the firm. Law enforcement has been notified of the situation, he added. Voyager customers withdrew $490 million between June 23 and July 22. That…
