PLUS: Bitcoin dominance sagged in July, absent a compelling BTC catalyst, and as altcoins seemed to benefit from a partial Ripple court victory. Original
Bankman-Fried faces seven different charges, including securities and wire fraud allegations, facing a trial currently scheduled to kick off in October. Another trial, set for March, will see the DOJ try Bankman-Fried again on another five charges, including conspiracy to commit bank fraud. He was arrested in December and extradited to the U.S., where he was released on bond while subject to a strict set of bail conditions. Source
A body representing FTX customers said it is “extremely disappointed” by the exchange’s draft bankruptcy exit plan and claims it was ignored by FTX’s restructuring team. In a July 31 court filing, FTX’s Official Committee of Unsecured Creditors (UCC) said despite its repeated requests and previous promises from the team, it “did not have a single call or meeting” with FTX to discuss its draft Chapter 11 plan. The plan outlines and categorizes customer claims into classes and creates a path forward for FTX to re-launch as an offshore exchange.…
Business intelligence firm MicroStrategy — one of the largest corporate holders of Bitcoin (BTC) in the United States — managed to return to profitability in the second quarter amid a surge in the price of Bitcoin. In a Q2 earnings results filing posted on Aug. 1, MicroStrategy reported $22.2 million in net income, a massive swing from a net loss of $1.1 billion in the prior-year period. Total revenues were mostly flat at $120.4 million. In July, @MicroStrategy acquired an additional 467 BTC for $14.4 million and now holds 152,800…
Amid the controversy of Bald meme coin’s abrupt rug pull performance, Wintermute’s Igor Igamberdiev, steps into the spotlight to uncover where the funds have gone. Crypto Twitter has been sent into a tailspin following the alleged rug pull of the Bald meme coin, prompting blockchain investigators to delve deep into the precedents leading up to this incident. Bald meme coin has become a hot topic in the crypto ecosystem, skyrocketing to a market capitalization of $85 million at its apex. The rise was then followed by a heavy decline in…
The Shibarium Layer-2 upgrade is launching any day now, and it looks like some big SHIB players are making moves ahead of the launch. According to on-chain data, over $28 million in SHIB tokens have been withdrawn from major crypto exchanges in the just concluded month of July. Massive Withdrawals Signal Investor Interest in Shibarium According to data shared on Twitter by crypto analyst Ali Martinez, backed up by on-chain chart data from IntoTheBlock, around 3.30 trillion SHIB were withdrawn from known crypto exchanges in July, the highest SHIB withdrawal…
As investigations loomed, the board of directors of Binance.US voted on whether to liquidate the company but could not come to a unanimous decision, The Information reported. Source
“We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and working capital, and, subject to market conditions,” already issued bonds, according to MicroStrategy’s Tuesday filing. Source BitcoinBTCBuyMicroStrategyMSTRWhale CryptoX Portal
The CEO of Lightspark, David Marcus, has come forward to share his experiences on building atop the Bitcoin Lightning Network. Marcus noted the challenges the Lightning Network held for builders, stating that it was incredibly difficult and complex to develop software around the protocol. The Bitcoin Lightning Network And The Challenges It Holds for Builders According to the Lightspark CEO, a firm involved in developing payment solutions on the Lightning Network, a layer-2 scaling platform for Bitcoin, the firm decided to build on the network because of the “unique qualities”…
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