From Gemini-DCG Lawsuit Drama to Brady's $30M Sack by FTX, While Teen Outclasses Professors & Shrimps Outsmart Miners!

Unraveling a Wild Crypto Ride: Big Legal Battles, Record Shrimp Accumulations, Hardware Hiccups, the Rise of a Teenage Bitcoin Guru, SEC Clapbacks, and a Super Bowl Champion's Super Financial Fumble!

Welcome to Daily Digest, where we surface trending news in crypto-based on conversations we found on Twitter, news publications, blog posts, and other social media, powered by the Coinfeeds platform.

Here are the trending news items over the last 24 hours. If you’d like to see even more updated news and trending news updated in real-time on our website

Market Updates

News

Retailers buying more bitcoin than miners can supply

Retail holders, known as "shrimps," are accumulating more bitcoin than miners can issue every month. This surge of buying activity surpasses the accumulation pace seen during the 2017 bull run and the post-FTX-panic period. Despite market volatility, these smallholders are showing consistent efforts in holding, indicating a bullish sentiment toward the currency.

Gemini Sues Digital Currency Group and Founder Barry Silbert Alleging 'Fraud'

Gemini, a crypto trust firm, has filed a lawsuit against Digital Currency Group (DCG) and its founder Barry Silbert, accusing them of "fraud." The lawsuit claims that Silbert knew about Genesis's insolvency but asked Gemini to continue the Earn program.

Trezor developer confirms private keys can be extracted if firmware is corrupt

A developer has confirmed that if the firmware of a Trezor device is corrupted, private keys can be extracted. This revelation has raised concerns about the security of assets stored in popular hardware wallets.

Salvadoran teenager becomes Bitcoin teacher, no longer earning ‘6 dollars a day’

A Salvadoran teenager named Gerardo Moran shares his journey of completing El Salvador's Bitcoin diploma program, Mi Primer Bitcoin. Moran is now educating a group of senior professors at his former high school about Bitcoin.

Coinbase claims 'more of the same' after SEC once again refuses to engage

The Securities and Exchange Commission (SEC) has responded to Coinbase's motion to dismiss the agency's lawsuit, stating that it will oppose any such motion. Coinbase's chief legal officer defended the company's use of the Howey Test in its response.

YouTuber Teams up With Kraken to Take Down Call Center Crypto Scam Operation

The Twitch streamer and YouTuber Kitboga worked with Kraken to help bring down a call center crypto scam operation.

Tom Brady reportedly lost $30 million in FTX stock after cryptocurrency company’s collapse

Tom Brady reportedly lost $30 million in FTX stock after the cryptocurrency company collapsed. Brady, who served as an ambassador for FTX, was paid in FTX stock as part of his deal with the company.

Stay tuned for more updates tomorrow!