Month: June 2023

Judge blocks Bankman-Fried’s attempt to obtain key documents in fraud prosecution: Report

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Sam Bankman-Fried, the co-founder of FTX, has been denied his request to obtain documents from a Silicon Valley law firm, Fenwick & West LLP, as part of his defense strategy in his ongoing federal fraud case, Bloomberg reported. Bankman-Fried had hoped to use thes documents to support his claim that he relied on legal advice while engaging in the activities for which he is currently facing prosecution. In a recent development, Bankman-Fried’s legal team approached the judge overseeing the case, urging the prosecution to hand over the documents obtained from…

Sequoia partner says investing in FTX was the right move: Report

American venture capitalist Alfred Lin, a partner at Sequoia Capital, stood up for the firm’s multimillion-dollar investment in the now-bankrupt crypto exchange FTX.  Speaking at Bloomberg’s Tech Summit, Lin said if he were tasked with evaluating FTX again for the first time, Sequoia would likely make the same investment decision. “I looked at the work we did in 15 different ways. […] We probably would have made the investment again,” Lin reportedly stated. Sequoia Capital has about $85 billion of assets under management, with investments in major technology companies and…

Pepecoin (PEPE) vs. Dogecoin (DOGE): Is a flippening on the horizon?

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PEPE quietly pulled off a 100% rally earlier this week, raising questions on whether the frog-themed memecoin will become a serious Dogecoin competitor. A few months ago Pepecoin came and went, bringing quick, unimaginable riches to early investors and turning latecomers into reluctant bag holders. While the chart resembles the standard crypto pump-and-dump scheme, Pepecoin’s (PEPE) price action this week suggests that the frog-themed token could be the newest contender to Dogecoin (DOGE) in the memecoin sector. Dogecoin has dominated the memecoin space for years. Many copycats of dog-themed tokens, like…

Price analysis 6/23: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC, LTC, DOT

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Bitcoin price looks ready to turn $31,000 to support, and many altcoins are following with double-digit gains. The rush to apply for a spot Bitcoin (BTC) exchange-traded fund (ETF) rejuvenated the bulls but this news is likely to boost the price only to a certain distance. As the price moves up, the risks of a crash increase if none of the ETF applications are approved. Trading firm QCP Capital is not convinced that a spot ETF will see the light of the day in the near term. Another point of…

Bitcoin surpasses $31k for the first time since April

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin surpassed the $31,000 mark, with investor optimism fueled by the anticipation of spot bitcoin exchange-traded funds (ETFs) and the entry of prominent players into the digital currency industry. Bitcoin cash (BCH) and bitcoin SV (BSV) also join today’s top gainers with a 32.39% and 20.19% gains, respectively. Behind the surge in value Bitcoin’s price surged past the $30,000 mark on June 21, driven by an optimistic sentiment among traders who foresee potential spot bitcoin ETFs…

Belgian financial regulator orders Binance to cease all virtual currency services

The Belgian Financial Services and Markets Authority (FSMA) has ordered major cryptocurrency exchange Binance to stop offering crypto exchange and custody wallet services.  In a June 23 notice, the FSMA said that by Binance offering crypto-related services “from countries that are not members of the European Economic Area,” the exchange was violating Belgian laws on anti-money laundering (AML) and combating the financing of terrorism (CFT). The financial regulator said Binance must cease “with immediate effect” all related services in Belgium. According to the FSMA, Binance controlled an estimated 19 companies…

Lowe’s Sells Garden Flag Featuring Mfers NFT

Despite offering no utility and no roadmap, the project has managed to cultivate a strong and passionate collector base. In June 2022, Sartoshi transferred the project’s smart contract and ownership to the community, creating even more fanfare and interest in the collection. Today, these NFTs often sell for over $1,000 each – far higher than their original mint price of 0.069 ETH, or about $320 – and the project has done over 66,510 ETH in sales, or nearly $125 million, according to OpenSea. Source

SEC waives BlockFi’s $30M fine until creditors are paid

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The United States Securities and Exchange Commission has agreed to postpone the payment of a $30-million fine from bankrupt crypto lender BlockFi until creditors are paid back. The amount represents the balance of a $50-million settlement with the regulator from February 2022.  According to June 22 court filings, the SEC will forgo the amount owed by BlockFi to “maximize” and avoid delays in funds’ distribution to investors “until payment in full of all other Allowed Claims.” The document stated, “The Commission has agreed to forego participating in any distributions under…