This report will provide some essential and quick news about the cryptocurrencies happening worldwide.
1) A $500 Million Mysterious Transfer By Tron Founder Justin Sun Agitates The Market
Justin Sun, founder of Tron, sent $500 million, which caused quite a stir in the cryptocurrency market. The transaction has caused some confusion as it started on JustLend, a platform that Sun backs, and then quickly migrated to HTX, another platform where Sun is an influential adviser. Data from Whale Alert brought the huge move to light…[continue reading]
2) Sullivan & Cromwell Sued For FTX Collusion
Edwin Garrison and others have filed a class action lawsuit with the United States District Court for the Southern District of Florida, claiming that S&C was a key player in FTX’s multi-billion dollar fraud operation. Many investors were involved in the FTX collapse, and the lawsuit says the law firm was complicit in their misery…[continue reading]
3) Celsius Pays Lenders $2 Billion In Crypto After Bankruptcy
According to a recent court filing by Celsius’s legal team, Kirkland & Ellis, the company has purportedly made significant strides in repaying its creditors since it filed for bankruptcy in 2022. Celsius was a cryptocurrency lending company…[continue reading]
4) The Tether (USDT) Market Cap Is Seeking The $100 Billion Level
Tether (USDT), the dominant stablecoin within the cryptocurrency industry, is approaching a historic milestone as its market capitalization approaches a record-breaking $100 billion. In accordance with the most recent data from CoinMarketCap, the market capitalization of USDT is currently $97.1 billion, an enormous increase from its previous values…[continue reading]
5) Banks ask SEC for crypto custody amid Bitcoin ETF surge February 16, 2024
Prominent American banking institutions are actively engaging in lobbying efforts with the Securities and Exchange Commission (SEC) to reassess the definition of crypto assets. Their objective is to solidify their position of authority in the rapidly expanding cryptocurrency industry. This effort follows the recent authorization of exchange-traded funds (ETFs) for spot Bitcoin, which specifically disallowed American institutions from serving as asset custodians…[continue reading]
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