Crypto exchange FTX has filed a lawsuit against the parents of its founder and former CEO, Sam Bankman-Fried, seeking to recover millions of dollars in fraudulently transferred funds and alleging misappropriation and malicious conduct. The filing accuses Bankman's parents of using their expertise in law to enrich themselves and divert funds from FTX, and also claims that Bankman attempted to sell the exchange to Binance. Bankman-Fried is currently in jail awaiting trial, and his parents have not responded to the lawsuit.
PepeCoin (PEPE) experienced a significant drop in value after millions of dollars worth of the token were transferred from the team's wallet to exchanges, raising concerns and triggering panic selling among investors.
Twitter, now known as X, is considering implementing a paywall to deter bots and combat its decline in advertising revenue, with Elon Musk suggesting that a small monthly fee could discourage bot operators and provide a new payment method for each bot created, while also addressing concerns of hate speech on the platform.
BlackRock's entry into the crypto space with its application for a Bitcoin exchange-traded fund (ETF) marks a significant turning point that dispels the notion of cryptocurrencies as a passing trend, signaling the growing institutional interest in Bitcoin and the crypto industry.
Parents of FTX founder, Sam “SBF” Bankman-Fried, are being sued by FTX debtors for allegedly misappropriating millions of dollars through their involvement in the cryptocurrency exchange.
XRP is approaching its third bullish golden cross in history, which could lead to significant price surges, according to popular analyst Egrag Crypto.
Bitcoin and other cryptocurrencies experienced a rise in value as traders made bullish bets in anticipation of the Federal Reserve's interest rate decision, though this surge may be premature.
Bitcoin's price dropped below $26,000 as the approval of a Bitcoin ETF was further delayed by the SEC, reversing the bullish gains from the Grayscale court decision earlier in the week. The crypto market also experienced a decline, with Ethereum's price going down by 3.5% and the overall market cap losing $11.2 billion. However, Maker and Toncoin managed to resist the bearish trend with positive gains. The global macroeconomic landscape also added to the uncertainty, as key economic data raised doubts about a potential interest rate hike.
Nomura's digital asset subsidiary, Laser Digital Asset Management, has launched the Bitcoin Adoption Fund, offering institutional investors long-only exposure to Bitcoin.
Coinbase has announced its plans to list PayPal's stablecoin, PYUSD, becoming the second major U.S.-based exchange to embrace the digital asset and signaling the rapid mainstream acceptance of the stablecoin.
Binance CEO denies that Binance.US used custody software from its international counterpart in contradiction to previous statements made by the U.S. exchange, leading to confusion over the relationship between the two entities.
Bitcoin's spot trading volumes for the current quarter have been significantly lower compared to previous quarters, potentially indicating a decline of around 14% month over month, while Ethereum's trading volumes are also at a level not seen since 2019, suggesting a similar trend for the cryptocurrency.
Bitcoin drops below $26,000 as market awaits central bankers' meeting at Jackson Hole, BNB hits lowest level in over a year due to regulatory and legal pressure, and Australia delays decision on central bank digital currency (CBDC) due to unresolved issues.
Cryptocurrency trading platform Robinhood has purchased more than 55 million shares previously held by former FTX CEO Sam Bankman-Fried, following approval from the company's board and a US district court.
Former FTX CEO, Sam Bankman-Fried's father, Joseph Bankman, complained about his $200,000 annual salary at FTX US and involved his wife, Barbara Fried, in the matter, according to a complaint filed in bankruptcy court. The complaint alleges that Bankman's parents misappropriated millions of dollars through their involvement in FTX's business, leading to various benefits provided to them by SBF.
Blockchain Capital has closed two new funds totaling $580 million, with a focus on decentralized finance, gaming, and other sectors, despite the ongoing crypto bear market.
Bitcoin (BTC) continues to experience losses as the "Grayscale hype" disappears and selling pressure remains strong, with predictions of further downside to around $23,000 and a potential relief rally topping out at $27,200, while U.S. dollar strength adds to the pressure on BTC price.
Stanford University has decided to return gifts it received from FTX, a bankrupt crypto exchange, following a lawsuit against the exchange's founder's parents, who are accused of funneling millions of dollars to Stanford.
XRP has lost over 44% of its gains following Ripple Labs' partial victory in its lawsuit with the SEC, leading to speculation that the SEC-induced momentum has ended.
Former SEC chair Jay Clayton believes that the approval of spot Bitcoin exchange-traded funds (ETFs) is inevitable, as major financial institutions backing BTC investment vehicles represent a shift in how retail investors can access crypto. The SEC has 45 days to approve, deny, or delay ETF applications from 7 major firms.
The decentralized finance (DeFi) landscape is experiencing a significant loss of Total Value Locked (TVL) across major blockchain networks, including Ethereum, Solana, and Cardano, causing unease in the crypto market, while the Base blockchain network shows unexpected growth in TVL.
Defendants Ripple Labs, Brad Garlinghouse, and Chris Larsen, along with the U.S. Securities and Exchange Commission (SEC), have indicated to the court that they will be unavailable for trial in Q2 2024, suggesting that the trial will likely take place after the Bitcoin halving; meanwhile, the XRP price has rebounded as the XRP community remains optimistic about the outcome of the trial.
The relaunch of Shiba Inu's layer-2 scaling solution, Shibarium, has attracted over 50,000 wallets and caused a rally for Bone ShibaSwap, resulting in a 6.6% increase in one day for the altcoin.
The Ministry of Education of El Salvador has partnered with nonprofit Mi Primer Bitcoin to introduce Bitcoin education into the country's public school curriculum by 2024, with the aim of becoming an example for the world and potentially inspiring other nations to implement similar programs.
Ripple and the SEC are expected to hold further negotiations in the second quarter of 2024, potentially after the Bitcoin halving, as the legal battle between the two parties continues. This could have implications for the price action of XRP.
MakerDAO co-founder Rune Christensen has stated that the platform's forthcoming native blockchain, called NewChain, should be built using the codebase of Solana (SOL), citing its technical quality and resilience. However, some members of the community have pushed back against this idea, suggesting alternatives such as EVM-based rollups or deploying a chain on a layer 2 solution.
Bitcoin non-profit ₿trust, funded by Jack Dorsey, has acquired Qala, an organization dedicated to training Bitcoin and Lightning engineers in Africa, with Qala rebranding as the ₿trust Builders Programme and aiming to drive development and education across the Global South.
The price of Shiba Inu (SHIB) has dropped by 3% in the past 24 hours, but indicators suggest that it is due for a rebound, particularly if the relaunch of the Shibarium network is successful, which could result in a steadily rising price for SHIB. Additionally, investors looking for shorter-term gains may consider newer meme tokens like Sonik Coin (SONIK), which has already raised over $400,000 in its presale and aims to reach a market cap of $100 million quickly.
Coinbase has launched a new crypto lending service for institutional clients, offering overcollateralization and secured loans in the wake of the bankruptcies of similar firms Genesis and BlockFi.
Shibarium, the Shiba Inu Layer 2 solution, is preparing to go public with exciting updates and enhancements, including a new monitoring system, additional fail-safes, and a revamped testnet explorer called Puppyscan.
FTX founder Sam Bankman-Fried's lawyers claim that prosecutors delivered four million pages of documents for him to examine six weeks before trial, making it impossible for him to adequately review the evidence from prison. Bankman-Fried is accused of intentionally deceiving customers and investors and playing a central role in the collapse of his company. His lawyers have requested his release to prepare for trial.
MetaMask, a popular cryptocurrency wallet, has introduced a new feature called "Sell" that allows users to cash out their Ether for fiat currency and send it to their bank accounts in certain regions.
There are more than 40,000 crypto millionaires in the world, with 40,500 of them holding Bitcoin, according to a report by Henley & Partners, and there has been a spike in the number of crypto-related inquiries by millionaires in the last six months.
The US Department of the Treasury and the IRS are proposing new tax regulations for the digital assets industry, requiring payment platforms, wallet providers, trading firms, and real estate brokers to file tax returns on certain sales or exchange transactions involving cryptocurrencies.
Grayscale Investments is urging the Securities and Exchange Commission (SEC) to approve the conversion of Grayscale Bitcoin Trust into an exchange-traded fund (ETF).
Genesis Global Trading, an affiliate of Digital Currency Group, will close its cryptocurrency spot trading service on September 18th for business reasons, but its affiliated company will continue to offer spot and derivatives trading services.
An unknown Bitcoin wallet has rapidly accumulated over $3 billion worth of Bitcoin, becoming the third-largest BTC address in the world and sparking speculation about its identity and purpose.
Bitcoin's recent 11.4% price correction from $29,340 to $25,980 has led experts to analyze the impact on the market structure, with some attributing the volatility to reduced liquidity and market makers adjusting their algorithms, however, examination of the derivatives market shows that whales and market makers remain optimistic and not bearish, as evidenced by the futures premium remaining neutral to bullish and the lack of bearish sentiment in options markets.
The test version of Shibarium, called Puppynet, has reached new milestones and set records with over 32 million transactions, while the number of wallets connected to Puppynet has been updated downward; meanwhile, Shibburn explorer reports that close to 100 million SHIB tokens have been burned in the last 24 hours.
A new study by the Bank for International Settlements (BIS) suggests that cryptocurrencies like Bitcoin have not reduced financial risks but rather amplified them in emerging market economies, leading to potential policy options ranging from bans to regulation.
Binance Pay has launched in Brazil, partnering with local businesses to accept cryptocurrencies such as SHIB, Bitcoin, and XRP, which has led to increased adoption of these major cryptocurrencies in the country's financial landscape.
