Month: June 2023

BlackRock has ‘50% chance’ of getting spot Bitcoin ETF approved: Analyst

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Investment management firm BlackRock has a 50% chance of getting its spot Bitcoin (BTC) Exchange Traded Fund (ETF) approved, says Bloomberg’s senior ETF analyst Eric Balchunas.  Balchunas’ prediction comes following an observation made by Elliott Stein, a senior litigation analyst for Bloomberg Intelligence, who now pegs the chances of Grayscale winning its case against the SEC at 70%. Another reason we give spot bitcoin ETF approval 50% chance is our senior legal analyst @NYCStein gives Grayscale a 70% chance of winning case against SEC, who could approve BlackRock’s ETF as…

Bitcoin miners send record $128M in revenue to exchanges

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Bitcoin (BTC) miners are sending record amounts of BTC to centralized crypto exchanges. In a June 27 tweet, on-chain analytics platform Glassnode reported an all-time high in Bitcoin miner revenue sent to exchanges. Percent of miner revenue sent to exchanges. Source: Glassnode. It noted that there was currently an “extremely high exchange interaction,” from Bitcoin miners which had sent a record $128 million to exchanges over the past week. This is equivalent to 315% of their daily revenue, the analytics platform noted. There have been several spikes in miner revenue…

Sui Foundation denies it sold locked staking rewards on Binance

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Sui Foundation — the team behind the Sui network and its native SUI token — has denied allegations that the firm unlocked SUI staking rewards and “dumped” them on cryptocurrency exchange Binance . The Foundation knocked back the claim in a five-part Twitter thread on June 27, stating that none of the locked or non-circulating tokens, including SUI staking rewards had been sold: “Sui Foundation has not sold staking rewards or any other tokens from locked and non-circulating staked SUI on Binance or otherwise.” “All insider token allocations remain subject to and…

FTX sues Dan Friedberg alleging he used ‘hush money’ to silence whistleblowers

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FTX has filed a lawsuit against a former regulatory and compliance executive at the exchange, alleging he made a series of payments in attempts to prevent staff from blowing the whistle about issues at the exchange.  On June 27, FTX filed a lawsuit against Daniel Friedberg who held multiple roles including chief regulatory officer at FTX, chief compliance officer of FTX US and general counsel at Alameda Research. In the complaint, FTX claims Friedberg was a “fixer” for the exchange’s co-founder Sam Bankman-Fried who made “hush money” payments to two…

FTX suspends $500M sale of stake in AI firm Anthropic: Report

The sale of FTX’s $500 million stake in artificial intelligence startup Anthropic has reportedly been put on hold, adding a potential delay to the bankrupt crypto exchange’s efforts to fill a $2 billion remaining hole in its balance sheet. On June 27, Bloomberg reported — citing people familiar with the matter — FTX’s advisory investment bank Parella Weinberg Partners paused the sale of FTX’s Anthropic stake this month, despite multiple parties being interested in buying up FTX’s stake. A sale of the stake would be a significant monetary recovery for…