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Do Kwon Disputes SEC Securities Fraud Charges in New Filing
In a 47-page document, lawyers for Do Kwon, the founder of collapsed crypto issuer Terraform Labs, have requested a U.S. court to dismiss charges made against him by the U.S. Securities and Exchange Commission (SEC). In part because of the lack of jurisdiction, the court filings filed Friday show.
Bitcoin Notches Biggest Weekly Loss in 5 Months
Bitcoin (BTC) faced selling pressure in the week ended Sunday as bond yields rose and the U.S. dollar liquidity declined. The largest cryptocurrency by market capitalization posted its largest single-week percentage loss since early November, according to data from TradingView and CoinDesk. The yield on the 10-year U.S. Treasury note rose by six basis points to 3.58%, its second-straight weekly gain, denting the appeal of risky assets, including cryptocurrencies. CoinDesk Contributing Editor-at-Large Zack Seward presents “The Chart of The Day.”
Zimbabwe to Introduce Gold-Backed Digital Currency: Report
The Reserve Bank of Zimbabwe, or RBZ, plans to introduce a gold-backed digital currency as legal tender to help stabilize the local currency, the Zim dollar, according to reporting by the Sunday Mail. “The Hash” panel discusses what this could mean for the future of money in Zimbabwe and the debate over central bank digital currencies.
Judge Rules in Favor of Yuga Labs Over Bored Ape Yacht Club NFT Copycats
Yuga Labs, the company behind the popular Bored Ape Yacht Club (BAYC) NFT collection, received a legal victory in the form of a partial summary judgment in its copyright case against Ryder Ripps and Jeremy Cahen who are the creators behind RR/BAYC. “The Hash” discusses various opinions about this lawsuit and what it could mean for satirical NFTs in the future.
SEC Warns Advisers They Need to Know Crypto Before Proposing to Clients
Brokers and investment advisers have to understand crypto and ensure it's in clients’ best interests before pitching investments, the SEC staff said in a bulletin. Former SEC Enforcement Branch Chief Lisa Bragança joins "All About Bitcoin" to discuss the state of crypto regulation in the U.S. and reacts to SEC Chair Gary Gensler's testimony before House lawmakers earlier this week.
Bitcoin on Pace to End the Week Roughly 8% Lower
In the last seven days, the largest cryptocurrency by market cap has fallen roughly 8%. Bitcoin’s drop appears to be dragging the rest of the crypto market with it. TradingView data shows the total crypto market cap slipping to $1.14 trillion. CoinDesk Contributor Lawrence Lewitinn presents “The Chart of the Day.”
Bitcoin Drops Below $28K
Bitcoin has fallen below $28,000, reaching a 24-hour low of $27,314.22. This comes as the increase in bitcoin's dominance rate has halted, hinting at the potential outperformance of altcoins ahead. Tactive Wealth Advisor Eddy Gifford joins “All About Bitcoin” to discuss his bitcoin price outlook.
Major Firms Deny Backing Bankruptcy Claims Exchange OPNX
Trading firms Susquehanna International Group (SIG), DRW and venture-capital firm Nascent are denying backing OPNX, the bankruptcy claims exchange founded by the same people who created Three Arrow Capital. Separately, the Ontario Teachers' Pension Plan, which wrote off its $95 million investment in the now bankrupt cryptocurrency exchange FTX, says it won't rush into another crypto investment, according to a report from the Financial Times.
NFT Marketplace Sales Are Dropping, Dune Data Shows
According to multiple dashboards compiled by researchers on analytics platform Dune, OpenSea and Blur are experiencing notable losses in both daily users and sales. “The Hash” panel discuss the potential catalysts to sales across NFT marketplaces sinking over the last seven days.
Bitcoin's Dominance Rate Hints at Upcoming 'Altcoin Season'
“The Hash” panel discusses the increase in the largest cryptocurrency's share of the overall crypto market, or bitcoin's (BTC) dominance rate, halting, which hints at the potential outperformance of alternative tokens known as altcoins ahead. Altcoins are any cryptocurrency other than bitcoin.
