SBF Cuts Deal To Help Target Celeb Endorsers
ZKasino's $33 Million Controversy After Launch, FTX Auctions Locked Solana Again, Bitcoin L2 Coins Outperform BTC
FTX investors have created an agreement with FTX's ex-CEO Sam Bankman-Fried as an attempt to end the legal disputes between them.
If the settlement is approved by the Southern District of Florida court, SBF would have to cooperate and help in FTX's ongoing class action suit with victim recovery, in exchange for freedom from additional civil charges.
SBF's cooperation would have to involve testimony and documents, including those relating to Anthropic.
Notably, SBF would also disclose his connections and promotional agreements with celebrities who've endorsed FTX's services, including the Yield-Bearing Accounts (YBAs).
The list of celebrities includes Tom Brady, Kevin O'Leary, Stephen Curry, Naomi Osaka, Gisele Bündchen, and others.
For reference, the FTX investors' class-action suit opened not long after the company's 2022 bankruptcy and accused both it and its founder of Florida law violations and misleading investors, allegedly resulting in billions in losses.
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SBF Cuts Deal With FTX Investors To Target Celebrity Endorsers
FTX investors have decided to settle their disputes with Sam Bankman-Fried, who has agreed to cooperate with them in their legal battles against the celebrity endorsers of FTX. This settlement, which is still awaiting court approval, could significantly change the dynamics of the ongoing lawsuits. Under the terms of the agreement, Sam Bankman-Fried will be absolved from further civil charges related to the FTX collapse. | Read More
ZKasino Faces $33M Controversy Over Launch, Refund Promises
Investors were caught off guard when ZKasino, instead of returning the ether, converted these investments into $ZKAS tokens with a 15-month vesting period. It involved a transfer of $33M in Ether to Lido. This sudden shift in the handling of funds was perceived by many as a 'rug pull'. The backlash was immediate, with major platforms Ape Terminal, AIT Launchpad, and MEXC canceling ZKasino's IDO and token listing. | Read More
Bitcoin Fees Crash After Record $128 Daily Average on Halving Day
On the day of the halving, the average transaction fee for Bitcoin soared to an unprecedented $128. This spike was primarily due to the intense activity around block 840,000, where the halving took place. Many users and enthusiasts were competing to have their transactions included in this historic block, often using the Runes protocol to inscribe data. Following this, the fees dropped to an average of $8-10. | Read More
Bitcoin L2 Coins Outperform BTC After Halving
Bitcoin Layer 2 coins such as STX, ELA, and SAVM have demonstrated significant growth, outperforming Bitcoin itself in terms of percentage increase in value following the halving event Since the halving, STX has seen an increase of nearly 20%, ELA has risen by 11%, and SAVM has grown by 5%. | Read More
FTX to Auction Locked Solana Tokens Again
FTX has chosen the auction format over a fixed price sale due to the high demand and competitive interest from various buyers. This strategy allows FTX to potentially secure higher prices for the locked tokens. The upcoming auction follows a successful initial sale where FTX disposed of $1.9 billion worth of Solana tokens to notable firms such as Galaxy Digital and Pantera. Figure Markets is setting up an SPV to facilitate participation in the auction. | Read More
Thailand Blocks Access To Unauthorized Crypto Platforms
The Thai SEC, in collaboration with the Ministry of Digital Economy and Society, has taken a firm stance against unauthorized crypto platforms by setting up access blocking. These platforms, which include major operators like Binance and Bybit Fintech, have been operating without official approval and have been actively promoting their services in Thailand. | Read More