In a recent legal submission, Sam Bankman-Fried’s freshly appointed defense team strongly criticized the suggested century-long sentence as “grotesque.” The firm Mukasey Young is pushing for a gentler verdict for the 31-year-old creator of FTX. Bankman-Fried’s Defense Urges Judge to Cap Sentence at 78 Months The defense’s legal brief argues that the suggested sentence is […] Source: https://news.bitcoin.com/a-maximum-of-78-months-sam-bankman-frieds-legal-team-calls-for-leniency/
El Salvador president, Nayib Bukele, has affirmed that his country will not sell its bitcoin, emphasizing that “At the end 1 BTC = 1 BTC (this was true when the market price was low and it’s true now).” Bukele further shared: “Now that bitcoin’s market price is way up, if we were to sell, we […] Source: https://news.bitcoin.com/el-salvador-wont-sell-its-bitcoin-president-bukele-says-at-the-end-1-btc-1-btc/
The chief executive of Bitwise Asset Management expects the price of bitcoin to hit $250,000 sooner than most people would imagine. Moreover, he believes that bitcoin is going to eat into gold’s total addressable market “faster than people expect.” He opined: “Bitcoin ETFs were bitcoin’s IPO moment. It’s now available to any investor with the […] Source: https://news.bitcoin.com/bitcoin-price-could-hit-250000-sooner-than-expected-says-bitwise-ceo/
New York-based cryptocurrency exchange Gemini announced late Wednesday that the parties involved in the bankruptcy case of crypto lending company Genesis have agreed to return $1.1 billion in digital assets to users of the platform’s Earn program. “We have finally reached a settlement in principle with Genesis and other creditors in the Genesis Bankruptcy that will, if approved by the…
In an agreement with the New York Department of Financial Services (NYDFS), the Winklevoss-led cryptocurrency exchange Gemini has committed to returning over $1 billion to its customers. The settlement, which also includes a $37 million fine, comes as a significant development for the exchange amidst several ongoing legal challenges with big-name crypto firms and heightened […] Source: https://news.bitcoin.com/gemini-agrees-to-over-1-billion-restoration-in-settlement-with-new-york-regulators/
Bitcoin surges, exchanges run hot, and Coinbase glitches—lather, rinse, repeat. Following widespread reports that Coinbase users were logging in to see zero balances in their wallets, CEO Brian Armstrong said Wednesday afternoon that the problem had been fixed. “We had modeled a ~10x surge in traffic and load tested it,” Armstrong said on Twitter. “This exceeded that number. “It’s expensive…
On Thursday, a collection of tokenized artwork from the Musée d’Orsay’s first-ever commission of an on-chain exhibition will hit the market—the product of two experimental artists, months of coordination by the museum’s leadership, and thousands of exhales from unknowing strangers. The pieces, five single-edition NFTs minted on the Tezos blockchain collectively titled “The Convergence of Breath,” are the fruits of…
The crypto exchange based in San Francisco, Kraken, has unveiled its latest offering, Kraken Institutional, a digital currency suite designed expressly for high-net-worth firms and institutional investors. Deep Liquidity and Low-Latency Trading: Kraken Institutional’s Promise to Elite Clients This new crypto service, Kraken Institutional, introduced by Tim Ogilvie, the global head of the business division, […] Source: https://news.bitcoin.com/amidst-a-surge-in-spot-bitcoin-etf-reserves-kraken-institutional-enters-the-market/
Parallel, an NFT trading card game with assets minted across Ethereum and scaling network Base, will make its long-awaited move into open beta on Thursday, February 29, letting anyone jump in and start playing the competitive PC game. Previously available only in a closed beta, Parallel—GG’s pick for the best game of 2023—builds on the foundations of genre giants like…
Bitcoin (BTC) is trading just shy of its all-time high, but the amount of money invested in the asset has already returned to its historic peak, according to on-chain data. Bitcoin’s “realized capitalization” has surged to $467.2 billion—just $500 million (0.22%) away from its April 2022 high of $468.3 billion, crypto analytics firm Glassnode reported on Twitter. “Realized capitalization” or…
