“In many projects with incomplete product models, crypto accelerates their decline. However, in a project with a comprehensive business model, crypto can be the core support that sustains upward development,” Wong wrote. “This is because the user base and the Catizen ecosystem are continually reinforced by robust token incentives.” Source
The case alleged that O’Neal acted as the face of Astrals urging investors to “[h]op on the wave before its too late.” Even when cryptocurrency exchange FTX collapsed in November 2022, O’Neal sent out a graphics interchange format (GIF) on the community message board Discord, from The Wolf of Wall Street that read, “I’m not F***ing Leaving,” the court document said. The lawsuit alleged that O’Neal fled the project after that and “the value of Astrals financial products plummeted.” Source
Earlier this year, the Bank of Nigeria Governor Olayemi Cardoso said crypto exchange Binance had allowed $26 billion of funds to leave the country untraceably last year, hitting tax revenues. That kicked off a series of events that resulted in the detention of Tigran Gambaryan, a U.S. citizen and a Binance official, who had been invited to the country for talks about the dispute. Source
The crypto market was in quiet mode during the Asian and European mornings to end the week, with bitcoin 0.45% lower over 24 hours near $58,500. ETH lost 0.7%, while SOL led gains, adding 0.44%. The broader digital asset market, as measured by the CoinDesk 20 Index, is about 0.39% higher. Bitcoin capitulated to under $57,000 late Thursday, a drop for which there was no obvious catalyst, given that both the Nasdaq and S&P 500 were ticking upward at the time. Source
BlackRock’s bitcoin ETF, IBIT, and ether ETF, ETHA, overtook Grayscale’s GBTC, BTC Mini, ETHE and ETH Mini, according to on-chain holdings on Friday. The company’s ETFs now have the largest collective holdings of any provider, on-chain analysis tool Arkham said in an X post. Source
“Every time ETH gas fees drop to rock bottom has often signaled a price bottom in the mid-term,” Ryan Lee, chief analyst at Bitget Research, in Friday note to CoinDesk. “ETH prices tend to strongly rebound after this cycle, and when this moment coincides with an interest rate cut cycle, the market’s wealth effect is full of possibilities.” Source
Sun.io, the DeFi platform associated with Tron founder Justin Sun, has released a token generator dubbed SunPump. Source
South Korean pension fund, National Pension Service (NPS), has bought MicroStrategy (MSTR) shares worth nearly $34 million in the second quarter of this year, according to filings made public earlier this week. Source
Filings show he has over $1 million in Ether. Source
The SEC extended its review period multiple times after publishing the NYSE proposal for public comment in February 2024, eventually initiating formal proceedings in April, but the proposal was withdrawn by the exchange before a final decision was made. Source