Bitcoin

Grayscale Bitcoin Trust tokenized stock FTX

Coinbase Stock

Jury Finds Terraform Labs and Former CEO Guilty of FraudFriday, April 5, saw Terraform Labs and its former CEO, Do Kwon, found guilty of fraud by a jury after both sides presented their cases. The US SEC argued that Terraform&#39;s success was built on deceit, particularly regarding the stability of Terra USD, its algorithmic stablecoin that crashed in 2022. Gurbir Grewal from the SEC welcomed the verdict, highlighting the deception investors faced. Conversely, Terraform Labs expressed disappointment, claiming a lack of evidence and questioning the SEC&#39;s jurisdiction. The collapse of Terra USD caused significant damage to the crypto world, leading to bankruptcies of major players like Three Arrows Capital, Voyager, and Celsius. This verdict follows a year-long trial, during which Judge Jed Rakoff ruled in favour of the SEC, determining certain Terraform offerings as unregistered securities. Meanwhile, Kwon&#39;s absence from the trial is due to his detention in Montenegro, with uncertainty about his extradition to South Korea or the US.Angry Creditors Slam FTX&#39;s Liquidation of Digital AssetsFTX creditors are upset over the bankrupt crypto exchange&#39;s decision to sell its Solana holdings at a significant discount to venture firms. <a href="https://www.bloomberg.com/news/articles/2024-04-05/ftx-s-solana-sale-galaxy-pantera-buy-tokens-at-64-sol?utm_campaign&#61;socialflow-organic&amp;utm_content&#61;crypto&amp;utm_source&#61;twitter&amp;utm_medium&#61;social" rel="noopener noreferrer nofollow">Reports</a> revealed that FTX sold 30 million SOL at $64 each to firms like Pantera Capital and Galaxy Trading, marking a substantial 62% markdown from the current market price. The SOL will be locked for four years.Although the $1.9 billion transaction is aimed at repaying creditors, many affected by the exchange&#39;s collapse see it in a negative light. Sunil Kavuri, one of the victims, criticized the sale for &#34;destroying billions of value for FTX creditors,&#34; accusing the firm&#39;s bankruptcy lawyers of prioritizing their clients over the creditors by disposing of what he sees as creditors&#39; &#34;property.&#34;Others impacted by FTX&#39;s downfall share Kavuri&#39;s concerns, especially regarding the exchange&#39;s repeated liquidation of customers&#39; digital assets in the bankruptcy proceedings.On-chain data further reveals that addresses associated with FTX and Alameda have transferred approximately $15 million worth of crypto to centralized exchanges, including ETH to Coinbase, WETH to Wintermute, and WBNB to Binance.During the week, addresses of the bankrupt exchange moved around $105.9 million worth of 19 different altcoins to two intermediary wallets, with approximately $16 million in 13 different assets deposited to centralized exchanges. SpotOnChain <a href="https://twitter.com/spotonchain/status/1775098591146832272?t&#61;Vr9et8Z1ROg3kO38r_9h6g&amp;s&#61;19" rel="noopener noreferrer nofollow">reported</a> that GateChain&#39;s 3.17 million GT tokens, valued at about $31.3 million, dominated the transactions, along with 3.37 million LEO tokens worth $20.4 million and 16.9 million VIC tokens worth $16.7 million, among other lesser-known digital assets.BlackRock Expands List of Authorized Players for Bitcoin ETF, IBITBlackRock hogged the headlines this week, expanding the list of players authorized to handle their spot Bitcoin ETF, IBIT. This ETF&#39;s been running since January, offering a way for investors to get into Bitcoin without directly dealing with the digital asset. The update adds five new big names to the list, making it easier for investors to buy and sell shares. With more players onboard, IBIT&#39;s expected to become even more accessible and liquid. IBIT and Fidelity&#39;s FBTC have been performing remarkably well since launch, attracting investors even on days when Bitcoin&#39;s price drops. IBIT alone has been attracting more than half of BlackRock&#39;s investment flows this year, surpassing their other ETFs. FBTC isn&#39;t lagging, responsible for 70% of Fidelity&#39;s total inflows. These numbers highlight the increasing popularity of Bitcoin ETFs as mainstream investment options. And with the AP list growing, stability and growth for the fund are on the horizon.Catch up on our published articles for the week!NEWS<ul><li>Rivalry Posts Strong Financial Performance, Reports 34% Revenue Growth in 2023 &gt;&gt;&gt;<a href="https://defi-planet.com/2024/04/rivalry-posts-strong-financial-performance-reports-34-revenue-growth-in-2023/" rel="noopener noreferrer nofollow"> Learn more</a></li><li>Monochrome Applies to List its Spot Bitcoin ETF on Cboe Australia &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/monochrome-applies-to-list-its-spot-bitcoin-etf-on-cboe-australia/" rel="noopener noreferrer nofollow">Learn more</a></li><li>Google’s Parent Company Sues Individuals Over Alleged Racketeering Scheme with Fraudulent Crypto Apps &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/googles-parent-company-sues-individuals-over-alleged-racketeering-scheme-with-fraudulent-crypto-apps/" rel="noopener noreferrer nofollow">Learn more</a></li><li>Nigerian Court Adjourns the Case Against Binance Executives as Authorities Failed to Serve the Charges Properly &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/nigerian-court-adjourns-the-case-against-binance-executives-as-authorities-failed-to-serve-the-charges-properly/" rel="noopener noreferrer nofollow">Learn more</a></li><li>UK Regulators Propose Digital Securities Sandbox to Foster Financial Innovation &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/uk-regulators-propose-digital-securities-sandbox-to-foster-financial-innovation/" rel="noopener noreferrer nofollow">Learn more</a></li><li>BIS Launches Agora Platform for Central Bank Digital Currencies &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/bis-launches-agora-platform-for-central-bank-digital-currencies/" rel="noopener noreferrer nofollow">Learn more</a></li><li>Crypto Whale Moves SOL Worth $20 Million to Binance &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/crypto-whale-moves-sol-worth-20-million-to-binance/" rel="noopener noreferrer nofollow">Learn more</a></li><li>Binance to Nigerian Government: Detained Executive Has No Decision-Making Authority in the Company &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/binance-to-nigerian-government-detained-executive-has-no-decision-making-authority-in-the-company/" rel="noopener noreferrer nofollow">Learn more</a></li><li>KBW Raises its Coinbase Stock Price Projection by Over 40%, Sets New Target at $230 &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/kbw-raises-its-coinbase-stock-price-projection-by-over-40-sets-new-target-at-230/" rel="noopener noreferrer nofollow">Learn more</a></li><li>Spot Bitcoin ETFs Update: GBTC Loses Top Spot as ARKB Hits $88M Outflow on Tuesday &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/spot-bitcoin-etfs-update-gbtc-loses-top-spot-as-arkb-hits-88m-outflow-on-tuesday/" rel="noopener noreferrer nofollow">Learn more</a></li><li>Binance Embraces a New Corporate Governance Model Amid Legal Challenges, Announces First-Ever Board of Directors &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/binance-embraces-a-new-corporate-governance-model-amid-legal-challenges-announces-first-ever-board-of-directors/" rel="noopener noreferrer nofollow">Learn more</a></li><li>Singapore’s MAS Tightens User Protection Regulations on Crypto Payment Services &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/singapores-mas-tightens-user-protection-regulations-on-crypto-payment-services/" rel="noopener noreferrer nofollow">Learn more</a></li><li>Deribit Becomes First Crypto Derivative Platform to Secure Regulatory Approval from Dubai’s VARA &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/deribit-becomes-first-crypto-derivative-platform-to-secure-regulatory-approval-from-dubais-vara/" rel="noopener noreferrer nofollow">Learn more</a></li><li>a16z Commits $30 Million to Fuel Gaming-Tech Innovation Through its SPEEDRUN Accelerator Program &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/a16z-commits-30-million-to-fuel-gaming-tech-innovation-through-its-speedrun-accelerator-program/" rel="noopener noreferrer nofollow">Learn more</a></li><li>Crypto.com Set to Launch New Mobile App in South Korea &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/crypto-com-set-to-launch-new-mobile-app-in-south-korea/" rel="noopener noreferrer nofollow">Learn more </a></li></ul>ARTICLES<ul><li>Understanding Bitcoin Dominance Chart and Trading Strategies &gt;&gt;&gt; <a href="https://defi-planet.com/2024/04/understanding-bitcoin-dominance-chart-and-trading-strategies/" rel="noopener noreferrer nofollow">Learn more </a></li></ul>PRESS RELEASES<ul><li>Empowering Miners: The Launch of Bitaxe Supra Brings Cutting-Edge, Community-Driven Bitcoin Mining to the Forefront &gt;&gt;&gt;<a href="https://defi-planet.com/2024/04/empowering-miners-the-launch-of-bitaxe-supra-brings-cutting-edge-community-driven-bitcoin-mining-to-the-forefront/" rel="noopener noreferrer nofollow"> Learn more.</a></li><li>Gora Announces Merger with RociFi &gt;&gt;&gt;<a href="https://defi-planet.com/2024/04/gora-announces-merger-with-rocifi/" rel="noopener noreferrer nofollow"> Learn more. </a></li></ul>Spotlight on interesting projectsTezoro<a href="https://tezoro.io/" rel="noopener noreferrer nofollow">Tezoro</a> is a non-custodial service that allows you to reduce the risk of losing your crypto by ~100 times by creating a backup: a smart contract that can withdraw crypto from your wallet and transfer it to a backup address even if you&#39;ve already lost access to your wallet or died.Tezoro is a non-custodial service. It helps you to prepare your backup, and you confirm it via your MetaMask and deploy it directly to the blockchain.Nobody, including Tezoro, can change the amount or replace the backup address. The only thing you allow it to do is initiate the transfer at the moment you need it.For more information, visit <a href="https://tezoro.io/" rel="noopener noreferrer nofollow">https://tezoro.io/</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/a9d6069a559f49b38983393f9f4ce442.jpeg" />If you want more content like this, visit <a href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, <a href="https://medium.com/&#64;defi-planet" rel="noopener noreferrer nofollow">Medium</a>. and <a href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.

Weekly Round-Up #93 | Bringing you up to speed with the top stuff!

DeFi Planet

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