A U.S. district court has ordered FTX and Alameda Research to pay $12.7 billion to fraud victims due to their misuse of customer funds and fraudulent practices. Ian McGinley, Director of the Commodity Futures Trading Commission’s Division of Enforcement, emphasized that this multibillion-dollar recovery is the largest recovery in CFTC history. FTX and Alameda Ordered […] Source: https://news.bitcoin.com/us-court-orders-ftx-and-alameda-to-pay-fraud-victims-12-7-billion-in-historic-cftc-recovery/
Russian President Vladimir Putin has signed a law allowing cryptocurrency mining in the country, state-owned media has reported, as lawmakers brainstorm how to skirt sanctions in the pariah state. The law establishes regulations for the previously outlawed crypto mining industry in the country, limiting the activity to legal entities and individuals who register with the Ministry of Digital Development. Entities…
Reduced block rewards post-halving and Bitcoin mining difficulty reaching new heights are eating away at miner revenues. Source: https://cointelegraph.com/news/miner-profitability-falls-to-record-lows-blocksbridge?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Yield-bearing stablecoins are gaining traction, with the modular DPoS network Elixir recently introducing a new stablecoin, DEUSD, that offers holders the opportunity to earn returns from the crypto asset. Since Aug. 7, DEUSD’s market value has grown from $952,443 to $115.92 million. Yield-Bearing Stablecoins Continue to Rise In the midst of the rising popularity of […] Source: https://news.bitcoin.com/elixirs-yield-bearing-deusd-stablecoin-sees-12071-growth-in-24-hours/
Coinbase currently holds approximately $270 million in customer assets. Source: https://cointelegraph.com/news/coinbase-expand-vaults-secure-crypto-custody-executive?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
The crypto economy experienced a 5.6% boost over the past 24 hours, reaching $2.07 trillion by Thursday. Bitcoin has soared past the $59,800 mark, while ethereum has exceeded $2,500 per coin. This rapid climb on Aug. 8 resulted in $212.59 million in derivatives liquidations across the entire crypto market within the last day. Crypto Economy […] Source: https://news.bitcoin.com/bitcoin-smashes-59800-as-212m-in-liquidations-rattle-traders/
The Terraform Labs co-founder has been in Montenegro since his arrest in 2023, potentially facing extradition to either his native South Korea or the United States. Source: https://cointelegraph.com/news/montenegro-court-do-kwon-extradition-south-korea-delay?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Microsoft and OpenAI face similar scrutiny as Europe and the UK seek to identify the line between investment and acquisition. Source: https://cointelegraph.com/news/amazon-faces-uk-merger-probe-4-b-anthropic-ai-investment?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
FOMO HOUR 175 – THE FTX SAGA CONTINUES BTC ETFs: +$45m, ETH ETFs: -$24m. XRP settles with SEC for $125m, rises 20%. FTX ordered to repay $12.7bn. BTC Mayer Multiple hits lowest since FTX. Saylor personally owns over $1bn BTC. Dems launch ‘Crypto for Harris’ group. Brazil approves first spot SOL ETF. Robinhood crypto revenue up 161%. Ethena launches stablecoin…
As Bitcoin briefly plunged below $50,000 Monday, investors in BlackRock’s spot Bitcoin ETF were among some of the most steadfast investors in the crypto market. Despite Bitcoin’s price falling 10% in the past week, investors in BlackRock’s $19 billion product haven’t flinched, so far. While some spot Bitcoin ETFs have seen millions of dollars in outflows over the past few…
