We Are So Back, Right? 😎
In today’s edition: 😯 Bitcoin erases Monday's drop, 🏛🤝 Crypto leaders meet with White House, 🛫 Do Kwon extradition hits another snag, and more!
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What’s Poppin’?
by Sage D. Young
Bitcoin Price Rebounds to Just Under $60,000, Erasing Monday’s Selloff
One expert said that Bitcoin’s 15% decline on Monday and the subsequent rebound are both signs of a healthy market.
Daily Bits… ✍️✍️✍️
💬 Crypto executives from major firms such as Coinbase, Ripple, and Kraken expressed concerns to White House advisers in a Zoom call, though no promises or policy changes were discussed.
⏳ Do Kwon's extradition from Montenegro has been delayed once again, with conflicting interests between South Korea and the US continuing to stall the process.
💼 Tether plans to double its workforce by mid-2025, focusing on compliance and finance roles to support its growing operations and the $118 billion in assets backing USDT.
🛠️ Solana developers swiftly addressed a critical security vulnerability, coordinating with validators to secure the majority of the network before disclosing the issue publicly.
⚖️ Avraham "Avi" Eisenberg, who was convicted for exploiting Mango Markets, is seeking to overturn his fraud conviction and requests a new trial, arguing the Southern District of New York was not the proper venue.
🔒 Crypto exchange WazirX plans to reverse all trades that occurred following its July 18 withdrawal freeze that was implemented after a $230 million hack, aiming to restore user balances and protect platform integrity.
🌪️ A wallet linked to the 2022 Nomad Bridge hack has transferred $36 million worth of ether to Tornado Cash, continuing a pattern of laundering funds through the sanctioned mixer.
🔍 Binance recovered $73 million in stolen funds so far in 2024, marking a 33% increase compared to last year, with the majority of the funds recovered being from hacks and exploits.
Today in Crypto Adoption...
🏦 Franklin Templeton launched its OnChain U.S. Government Money Fund on the Arbitrum network, further integrating traditional finance into decentralized finance via its BENJI token.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 5%, trading at $60,378
ETH is up 7.5%, trading at $2,626
BTC dominance: 53.98%
Crypto market cap: $2.22T
*All data as of today, 06:45 am ET. Source: CoinGecko
Recommended Reads
Fox Business: Crypto executives clash with Democratic leaders in heated Zoom meeting
Bloomberg: Jump Trading’s Wallets Under Scrutiny After Nasty Crypto Selloff
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