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Gemini and Genesis Ask U.S. Court to Dismiss SEC Lawsuit Targeting Earn Program
Bankrupt crypto lender Genesis Global Capital and exchange platform Gemini are asking a U.S. court to dismiss a lawsuit by the Securities and Exchange Commission alleging the two sold unregistered securities, court filings from Friday show. Genesis and CoinDesk are owned by the Digital Currency Group (DCG). Separately, a new Bloomberg report takes a closer look at the future of crypto exchange Gemini under the leadership of billionaires Tyler and Cameron Winklevoss.
LabDAO Co-Founder on Future of Decentralizing Drug Discoveries
LabDAO, a decentralized autonomous organization focused on open-source drug discovery, has raised $3.6 million in a funding round co-led by Inflection.xyz and Village Global. LabDAO co-founder Niklas Rindtorff discusses the latest funding round and his outlook on advancing decentralized science. Plus, the role of artificial intelligence in research and the launch of LabDAO's PLEX software platform.
How the Crypto Market Is Reacting to Debt Ceiling Developments
President Joe Biden and House Speaker Kevin McCarthy are looking to extend the debt limit through 2025 and include some moderate federal spending cuts. "First Mover" hosts discuss the latest developments surrounding the U.S. debt ceiling and what it means for the crypto markets.
MicroStrategy Represents Attractive Alternative to Coinbase: Berenberg
Berenberg said in a report that MicroStrategy (MSTR) represents an attractive alternative to Coinbase (COIN) for investors looking to gain exposure to the cryptocurrency sector. Mark Palmer, equity research analyst at investment bank Berenberg, joins "First Mover" to break down the key takeaways.
Blend Has Taken 82% of NFT Lending Market Share: DappRadar
Non-fungible token (NFT) marketplace Blur's lending platform Blend has captured about $308 million in trading volume in just 22 days since its launch, seizing 82% of total NFT lending market share, according to a report from blockchain data aggregator DappRadar. DappRadar Web3 analyst Sara Gherghelas discusses the report's key takeaways and the state of the digital collectibles market.
Glassnode Data Reveals Ether Held in Exchanges at Lowest Since July 2016
Data from Glassnode shows that 14.85% of all ether was held in wallets owned by centralized exchanges as of Thursday, the lowest level the market has seen since the summer of 2016. Typically, low exchange balances are a bullish sign, indicating that the supply of ether available for purchase is limited, thus putting pressure on prices to increase. CoinDesk's Jenn Sanasie presents "The Chart of the Day."
Exploring Crypto's Relationship With Economic News
Crypto markets reacted tepidly to solid economic data, a potential sign that good-economic-news-equals-bad-news for digital asset prices narrative is beginning to shift. "The Hash" panel discusses the changing narrative around bitcoin’s connection to economic growth and the implications for global finance.
Ether Balance on Exchanges Nears All-Time Low: Glassnode
The number of ether (ETH) on exchanges has hit a low not seen since July 2016 as staking saps up available ether. Data from Glassnode shows that as of Thursday, 14.85% of all ether was held in wallets owned by centralized exchanges. "The Hash" panel discusses their outlook for the Ethereum network, also citing the continued impact of the historic Shapella upgrade.
Lawyer Behind FTX Lawsuit Weighs in on Celebrity Endorsements
A lawyer says basketball legend Shaquille O'Neal has finally been served in a case involving FTX and the celebrities who appeared in their ads. Adam Moskowitz, Managing Partner at The Moskowitz Law Firm, who is also the lawyer representing some FTX investors in the proposed class action lawsuit against the bankrupt crypto exchange, discusses the case and the state of celebrity endorsements in the crypto space. CoinDesk reached out for comment to Shaquille O'Neal and Kaseya Center but did not hear back.
There Are Details About Terraform Labs Still Unknown: Former Paxos Exec
Terraform Labs co-founder Do Kwon will remain in detention while he faces charges of falsifying official documents in Montenegro after a request for bail was approved and later revoked. This comes as Terraform Labs co-founder Daniel Shin’s trial was postponed in South Korea. Columbia Business School adjunct professor and former Paxos head of portfolio management Austin Campbell shares his expectations about the details that could come to light amid the legal proceedings.
