Genesis' Dream of a $600 Million Repayment 🌈
Also today: 🎙️ New episode of The Chopping Block, ❄️ DOJ freezes assets of Alex Mashinsky, 📊 Grayscale's bitcoin holdings, 📉 Nima Capital breaks Synapse deal, and more!
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What’s Poppin’?
Genesis Sues Parent Company DCG, Seeks Repayment of $600 Million
by Samyuktha Sriram
The bankrupt crypto lender filed two complaints against DCG and its international affiliate over its failure to repay $600 million worth of loans.
Former Celsius CEO Alex Mashinsky’s Assets Frozen in DOJ Case
by Kari McMahon
Celsius co-founder Alex Mashinsky’s residential home and bank accounts have been frozen as part of a restraining order in the DOJ’s case against the crypto exec.
Nima Capital Breaks Synapse Liquidity Deal, Days After $80 Million Real Estate Sale
by Kari McMahon
Nima Capital sold a New York City apartment for $80 million, which is the city’s priciest real estate deal this year, then broke its liquidity deal with cross-chain bridge Synapse.
Arkham Identifies Grayscale as World’s Second-Largest Bitcoin Holder
by Samyuktha Sriram
The blockchain analytics firm claims to have identified the wallets belonging to the Grayscale Bitcoin Trust (GBTC), which hold more than $16 billion BTC.
On the Pod…
This week, the group sits down with Circle CEO Jeremy Allaire to discuss how the USDC stablecoin issuer responded to the banking crisis that started at the end of 2022, what PayPal’s new stablecoin offering means for Circle and the rest of the industry, and whether central bank digital currencies (CBDCs) represent real competition for stablecoins.
Daily Bits…✍️✍️✍️
📊 The Financial Accounting Standards Board (FASB) said that companies should report crypto assets at current market values, initiating the first crypto-specific accounting standard in the U.S.
🏦 Celsius lodged an "adversary complaint" against EquitiesFirst Holdings to recover assets amounting to approximately $439 million, as per court documents.
📑 ARK Invest and 21Shares submitted a filing to the SEC for the launch of a spot ether ETF, aiming to offer direct ether exposure on the Cboe BZX Exchange.
📄 Ethereum cofounder Vitalik Buterin proposed "privacy pools", a smart contract protocol, to segregate lawful transactions from criminal activities.
🏛️ Tornado Cash developer, Roman Storm, denied allegations of facilitating money laundering and sanctions evasion, securing a $2 million bond and house arrest until trial.
🔍 A bug fix reported by whitehat hacker Kankodu inadvertently led to a $200 million attack on Euler Finance, a situation later largely rectified by the Euler team.
💼 A person lost $24 million in a phishing scheme, where they were tricked into authorizing a fraudulent transaction involving substantial amounts of Rocket Pool ETH and Lido Staked ETH.
🌏 Crypto venture firm Sino Global rebranded to Ryze Labs, reflecting its expanded global focus beyond Asian tech companies, according to founder Matthew Graham.
Today in Crypto Adoption...
🎮 Google updated its advertising policy to allow promotion of NFT games without gambling content from Sept. 15, enhancing user experience with in-game assets.
🌐 Mirae Asset Securities, a prominent South Korean financial group, is collaborating with Polygon Labs to foster the development and adoption of tokenized securities and Web3 technologies.
📈 Korean gaming giant Neowiz intends to develop games on the Avalanche blockchain through its Web3 division, IntellaX, capitalizing on the growing enthusiasm for blockchain games and esports in Korea.
The $$$ Corner…
📈 Trident Digital Group, initiated by ex-Coinbase executives, raised $8 million in seed funding to develop a new crypto lending venture.
💰 Socket Protocol secured a $5 million investment from Coinbase and Framework Ventures.
🎨 Web3 arts startup TRLab garnered $5 million in funding led by Hivemind Capital Partners and OKX Ventures to foster digital art experiences in the web3 space.
What Do You Meme?
Recommended Reads
CoinDesk: DeFi and Credit Risk
Haseeb Qureshi on the privacy paper co-authored by Vitalik Buterin
Unchained: How to Make, Promote & Sell an NFT For Free: A Beginner’s Guide
📈 Your Market Update 📉
BTC is down .1%, trading at $25,728
ETH is down .1%, trading at $1,631
BTC dominance: 46.37%
Crypto market cap: $1.08 trillion
*All data as of today, 6:34 am ET
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