They say knowledge is power and the primary source of it is news. For crypto users and investors, it’s essential to know what’s happening in this space. The emerging industry has so much to offer to the whole world. So knowing things about this niche will make one a total genius.
Sam Bankman-Fried Already Behind the Bars Before Trials
Sam Bankman-Fried is the poster boy of the cryptocurrency scam. He has multiple allegations against him which attract a sizable jail term. The millionaire ex-CEO’s legal team is taking every effort to exonerate him. Now, some were quite confident about seeing him behind bars, but no one expected it to happen so soon. Bankman-Fried will be sent to jail before his trial is slated in October 2023. This happened due to a judge’s action of revoking the FTX founder’s bond.
Shiba Inu’s Price Surge Has Become a Warning Sign For Many
Shiba Inu’s performance has recently dazzled its investors. The token recently hit the threshold of $100 Million for the first time since February 2023. All meme coin traders are overjoyed with its stellar rise. At the same time, Bitcoin traders are worried due to this.
To know the reason, one needs to dig into the history of BTC price fluctuations. SHIB’s value skyrocketed to $6.58 Billion spanning 32% of the market’s dominance. It also rose to the $100 Million mark. It’s openly challenging BTC’s hegemony and has the potential to be the top spot as well.
Delve Deeper Into The Recent Market Milestones of Friend. tech
Friend.Tech has emerged as a big sensation in the crypto world. The new social app has raised 4,400 ETH ($8.1 Million) within 24 hours since its launch. Nevertheless, some experts have raised concerns about the privacy disposition of the platform.
Currently, it’s out in an invite-only Beta version. The platform runs on a Layer-2 network and facilitates the monetizing of one’s social media influence. Its USP is that it lets the users sell “shares” of themselves to the followers. The platform is coercing many famous influencers to join it.
SEC Rejects Cathie Wood’s Ark21 Bitcoin ETF Application
The US Securities and Exchange Commission (SEC) passed its verdict on the Ark21 Bitcoin ETF filing recently. The regulator attributed it to potential market manipulation and insufficient investor protection. Notably, this was the second time Ark21 applied for the same. Some analysts are also saying the SEC probably wants to give it to heavyweights like Blackrock.
However, it’s hard to say who the regulator favors. Despite the setback the CEO, Cathie Wood seemed positive about it. She said that, ultimately, the body will start issuing ETFs to multiple applicants.
Cameron Winklevoss is Struggling With Gemini’s Crypto Lending
The Gemini Crypto Exchange and Digital Currency Group have been at loggerheads for a while now. The exchange floated the lending service which DCG froze with a lawsuit. The Winklevoss twins, who own the exchange, tried to get rid of the accusations. In fact, they filed brought litigation against the DCG for fraud. According to them, the DCG masterminded the fraud against creditors.
They stated that it was a DCG unit, Genesis, that was accountable for it. It held funds for Gemini Earn and became erratic after FTX failure. It halted customers’ withdrawals unauthorizedly.
Hopefully, investors will get some precious insights from these pieces of news.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/14/5-recent-tidings-of-crypto-space-that-everyone-must-know-of/