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Cathie Wood’s Ark Invest offloaded $5.8 million shares in Coinbase and Grayscale Bitcoin Trust (GBTC) even as crypto prices surge amid optimism over the approval of spot Bitcoin exchange-traded funds (ETFs). Ark sold $3.3 million worth of Coinbase shares and almost $2.5 million worth of GBTC. Ark’s Next Generation Internet ETF (ARKW) sold 32,158 Coinbase shares and Ark Fintech Innovation ETF offloaded 10,455 shares. ARKW, a fund that invests in cloud computing, e-commerce, artificial intelligence, internet-based goods and services, and media innovations, also sold more than 100,000 GBTC shares at $24.71 each. Cathie Wood and Ark Invest's trade activity from today 10/23 pic.twitter.com/3SilCpHQFG — Ark Invest Daily (@ArkkDaily) October 24, 2023 Ark Invest Sells Into A Crypto Rally The sales came as cryptocurrencies surged. Bitcoin was up more than 11% at $34,395 at 11:20am ET. Coinbase has risen more than 13% so far today after surging 161% this year. GBTC has...

Assistant US Attorney Thane Rehn has filed a motion asking Judge Lewis Kaplan to block Sam Bankman-Fried (SBF) from bringing up Anthropic in his trial, claiming the growth of his investment in the company is “immaterial.” US Prosecutors Want To Block Anthropic AI In Ongoing SBF Trial The prosecutors allege that Bankman-Fried used customer funds to make a $500 million investment in Anthropic, an artificial intelligence company involved in a deal with Amazon worth as much as $4 billion. Bankman-Fried invested around $500 million in Anthropic in April last year. According to the filing, the valuation of Anthropic has grown to between $20 billion and $30 billion, and a Bloomberg report says the company is also in talks for an additional $2 billion in funding from Google. OpenAI rival Anthropic is still raising $2 billion after Amazon committed $1.25 billion last week, and Google is expected to invest at a valuation of between $20 billion and $30 billion; FTX Invested $500m ...

Sam Bankman-Fried’s lawyers are attempting to stop a Ukrainian client of bankrupt crypto exchange FTX from testifying remotely, arguing it would reference hardships that are irrelevant to the charges and also violate their client’s Sixth Amendment rights. In an Oct. 2 letter to the court, defence lawyers said testimony by the Ukrainian, based on circumstances created by Russia’s invasion of the country, “would serve only to elicit the jury’s sympathy and outrage.” Bankman-Fried’s Right To Confront Witnesses The lawyers further argued that allowing the testimony of the Ukrainian witness would violate Bankman-Fried’s rights under the Confrontation Clause of the Sixth Amendment. Under this provision, every defendant has the right “to confront the witnesses against him.” This constitutional right strongly favours direct testimony in court, the lawyers said, adding it would violate the protections required by the Sixth Amendment...

The UK’s Financial Conduct Authority (FCA) gave crypto firms a ”final warning” about incoming rules on promoting products and said it’s concerned about the industry’s ”lack of engagement” with authorities over the issue. The new rules, which govern how crypto firms and intermediaries promote products in the UK, come into effect on Oct. 8.  T he FCA warned that firms that continue to promote crypto assets to UK consumers without necessary approvals face ”up to 2 years imprisonment, an unlimited fine, or both,” “We are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have UK customers on this important change,” it said in a statement. “ Many of these firms have refused to engage with the FCA despite our best efforts. For instance, out of over 150 firms surveyed, only 24 responded, indicating a troubling lack of interest in complying with the new regime.” From 8 O...

Seven witnesses proposed by FTX founder Sam Bankman-Fried were barred from testifying at his trial next month. Judge Lewis Kaplan said the witnesses failed to meet the necessary criteria for a criminal trial, including lack of clarity regarding their intended testimony and concerns about their suitability for the case.  A court filing disclosed that one of the witnesses, former Federal Election Commission chair Bradley Smith, was expected to bill Bankman-Fried’s legal team $1,200 per hour to testify on US campaign finance laws and straw donors. The judge also expressed doubts about the qualifications of another witness, Peter Vinella.  FTX co-founder Sam Bankman-Fried may call seven expert witnesses, paying them up to $1,200 an hour, to testify on his behalf at his upcoming fraud trial, per Bloomberg. — unusual_whales (@unusual_whales) September 5, 2023 The judge’s decision has raised questions about the defence strategy in the high-profile case. The...

South Korea’s second-largest city Busan is developing its own blockchain mainnet, with the goal of becoming a  ‘Blockchain City.’ The aim of the project is to streamline blockchain services on different mainnets to operate on a single platform. The city aims to ensure the services are compatible with global  blockchain networks such as Ethereum and Cosmos, according to a report in News1 Korea.   It’s allocated a budget of 100 billion Korean won ($75 million) for the development of the open blockchain under its Blockchain Innovation Fund (BIF). This funding will be sourced from investments provided by public financial institutions within Busan, and approximately 100 private companies have expressed their interest to participate.  “We will promote the Busan Blockchain Regulation-Free Special Zone to a global innovation special zone and actively support the overseas expansion of innovative companies proven in Busan,” the city...

The European Central Bank (ECB) is considering using central bank digital currencies (CBDC) as means of curbing the market dominance of big tech firms. The body is unveiling a discussion paper that will guarantee a smooth continuation of the current monetary system. The “network externalities” surrounding the use of the fiat medium of exchange have kept the control of the payments markets in the hands of BitTech firms. But ECB is suggesting ways to use CBDC to breach the dominance and make it a level playing field for all players. The Paper Recognizes Te Increasing Interests In CBDC The discussion paper starts by recognizing the increasing interest in CBDCs, which have also received serious interest from central banks worldwide. So far, two countries, Nigeria (eNaira) and the Bahamas (Sand Dollar) have launched their CBDC. Buy Crypto Now Your capital is at risk. The report provides detailed information about their potential for adoption and level of growth It als...

The blockchain industry is known for being one of the most innovative and high-potential industries, that may provide solutions to several major problems faced today in the future. There are several categories that it has dedicated focus on, and has been widely embraced by a huge audience all over the world. Among these, the most recent and highly impactful development that blockchain could achieve is the metaverse. Since Facebook announced its plan for Meta, there has been an exponential increase in the interest for such projects. When talking about Metaverse, one of the few projects that will definitely come to everyone’s mind first is Sandbox. However, as a project based on the metaverse, Sandbox is recently being considered to have fallen from its former glory. What is Sandbox? Initially created without any blockchain integration, Sandbox was launched in 2012. The goal then was to create immersive digital worlds for players. After adding a blockchain element to it, t...

Join Our Telegram channel to stay up to date on breaking news coverage LBLOCK: 7th September LBLOCK’s Price action has been moving to and fro between $0.0008200 and $0.0009300. However, examining signs on the LBLOCK/USD market, one might want to say that price action for this crypto is about to bounce upwards. And at this, point traders must catch the bounce as it looks very promising. LBLOCK’s Current Value $0.0009160 LBLOCK’S’s Market Cap: $3.12 million LBLOCK’s Moving Supply: —— LBLOCK’s Overall Supply: 3.65 billion LBLOCK’s Position on Coinmarketcap: #3635 Key Value Marks: Upper Value Level: $0.0009160, $0.0009200, $0.0009250 Lower Value Level: $0.0009100, $0.0009050, $0.0009000 LBLOCK Price Deduction: Lucky Block Finally Recline above the $0.0009000 The LBLOCK/USD four-hour chart reveals that this crypto has begun a very strong upside move. The Stochastic RSI threads have arrived in the overbought area. As a p...

Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin’s recent decline to its lowest level in 18 months is the greatest crypto market meltdown ever recorded. An estimated $300 billion had been lost from cryptocurrency exchanges throughout the world in the past few months. The crypto market has been extremely volatile over the past year, with amazing profits and enormous losses. Despite the market shock caused by Russia’s invasion of Ukraine, 2022 had a brighter beginning. Even though April was a terrific month, everything fell apart in May. There are already doomsayers predicting the end of crypto and the return of fiat currencies due to the widespread repercussions of the recent market decline. While the situation is certainly serious, we worry that some of the grave predictions have been overblown. In spite of widespread pessimism, the crypto industry’s long-term outlook may not be as bleak as it seems right now. Some unique investm...

Join Our Telegram channel to stay up to date on breaking news coverage One can certainly not ignore Tamadoge anymore. The cryptocurrency has made unprecedented progress regarding meme coins in the cryptocurrency markets. Unlike the previous set of meme coins that came, peaked, and vanished, Tamadoge has undoubtedly been able to maintain its hype and attract investors because of its fundamentals and utility-first approach, as a cryptocurrency. Since its listing on major exchanges, Tamadoge has surged over 200% in a week, owing to strong fundamentals, and news of the coin being eyed by major whales. Investors can bag Tamadoge as per their liking from exchanges such as OKX, BitMart, and Uniswap. Let us understand what the recent development in Tamadoge’s market capitalization means for cryptocurrency and its near future. Tamadoge Market Cap Now Third Highest Amongst Meme Coins Tamadoge took the crypto markets and meme coin enthusiasts by storm when it entered the coveted...