The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Wednesday! While Trump's crypto working group director Bo Hines recently stated that the U.S. government is exploring various ways to accumulate as much bitcoin as possible without requiring taxpayer contributions, the market still seems skeptical in the absence of a concrete strategy, according to analysts.
In today's newsletter, Ripple CEO Brad Garlinghouse says its legal battle with the SEC has ended, a Hollywood director is arrested on charges of swindling $11 million from Netflix partly to invest in crypto, a South Korean man faces 10 years in prison for stabbing a crypto CEO and more.
Meanwhile, Ethereum developers are set to end support for the Holesky testnet in September.
Let's get started.
Ripple CEO Brad Garlinghouse announced on Wednesday that the company's legal battle with the Securities and Exchange Commission is over.
Hollywood writer and director Carl Erik Rinsch, perhaps best known for directing the Keanu Reeves-starring film 47 Ronin, was arrested on Tuesday and charged with allegedly swindling $11 million from Netflix for a planned sci-fi series that never aired.
South Korean prosecutors are seeking a 10-year sentence for the man who stabbed Haru Invest CEO Lee Hyung-soo during his court hearing last year on multiple fraud-related charges.
Upstart investment firm Volatility Shares is set to launch two Solana futures ETFs on Thursday: SOLZ, which gives investors exposure to SOL futures contracts, and a 2x leverage product called SOLT.
The increasingly notorious "Hyperliquid whale" has closed a $520 million 40x leveraged bitcoin short position on the platform, netting a $9.4 million profit.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT 3.5/4 and reviewed and edited by our editorial team.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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