NewsBriefs - FTX reorganization plan gains strong creditor support as former exec files lawsuit

Aug 22, 9:38 AM Cryptoslate

FTX reorganization plan gains strong creditor support as former exec files lawsuit

FTX's reorganization plan has received over 95% creditor support, representing 99% of claims by value. The plan aims to return 100% of bankruptcy claim amounts plus interest for non-governmental creditors. Critics argue the plan disadvantages creditors by using November 2022 asset values. Former FTX exec Ryan Salame filed a lawsuit against the US government, alleging breach of his plea deal. Salame is set to serve a 7.5-year prison sentence starting October 13.

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• Oct 29, 11:36 AM Cointelegraph

  Bhutan government sells $66 million of Bitcoin as price surpasses $71k

  Bhutan's government transferred $66.5 million worth of Bitcoin to Binance, likely for sale, as Bitcoin's price topped $71,000. The government wallet still holds about $886 million in Bitcoin, potentially creating further selling pressure. This move came after five years of mining and holding Bitcoin, coinciding with Bitcoin reaching a significant price level that often triggers volatility and profit-taking by whales.

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• Oct 29, 6:33 AM The Block

  Truth Terminal founder's X account compromised, hacker nets $600K

  A hacker exploited Truth Terminal founder Andy Ayrey's X account, promoting a scam token that briefly reached a $25 million market cap. The attacker profited over $600,000 before a sell-off crashed the token's value by 98%. Ayrey temporarily regained control, citing a possible SIM swap attack on his mobile carrier. Truth Terminal, a crypto-focused chatbot, previously gained attention for amassing over $1 million in crypto holdings and receiving a $50,000 Bitcoin donation from Marc Andreessen. Despite regaining access, the account continued to display suspicious activity.

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• Oct 27, 9:05 PM Cryptoslate

  Coinbase unveils new tool to let users build AI agents with crypto wallets

  Coinbase launched Based Agent, enabling users to build AI agents using their crypto wallets in under three minutes. The tool allows for autonomous on-chain task execution, including trading and staking. Based Agent integrates with smart contracts and offers X API functionality. Built using Coinbase SDK, OpenAI, and Replit, it aims to simplify AI agent creation for crypto operations.

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• Oct 25, 6:24 PM Coindesk

  Tether probe by the DOJ sends Bitcoin tumbling to $66K

  Crypto prices dropped after a WSJ report revealed a US probe into Tether for potential sanctions and anti-money laundering violations. Bitcoin fell from near $69,000 to $66,000 following the news. Tether, the largest stablecoin with a $120 billion market cap, dismissed the report as "old noise." The investigation's impact disrupted an earlier crypto market uptrend.

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• Oct 25, 3:01 AM Bangkok Post

  Thailand shifts crypto market focus from retail to institutional investors

  Thailand's crypto market is transitioning from retail to institutional as the country aims to become a Southeast Asian fintech hub. The Thai SEC proposed rules allowing institutional-grade funds to invest in crypto products like US-based spot crypto ETFs. This move is seen as legitimizing the crypto ecosystem and potentially positioning Thailand as a regional digital asset hub. Real-world asset tokenization is emerging as a major trend, with traditional banks exploring blockchain-tradeable digital assets. Despite the institutional shift, retail crypto trading remains popular in Thailand.

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• Oct 23, 1:34 PM Cointelegraph

  Vietnam launches national blockchain strategy to enhance the country's blockchain capabilities.

  Vietnam's MIC unveiled a National Blockchain Strategy focusing on five key areas to develop the country's blockchain capabilities. The plan aims to create 20 blockchain brands, establish testing centers in major cities, and build a national blockchain network. Vietnam also plans to legally recognize digital assets, aligning with international standards to combat financial crimes. The strategy seeks to position Vietnam as a leader in blockchain technology and the Fourth Industrial Revolution.

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• Oct 22, 10:54 PM CryptoBriefing

  Marc Andreessen calls GOAT token first convergence of AI and crypto

  Marc Andreessen, in a new a16z podcast, described the origins of Truth Terminal and the creation of the GOAT meme coin. In the podcast, Andreessen describes how the AI bot started promoting the GOAT meme, and then a meme token was created for it, which rapidly grew to a $500M valuation. Andreessen described this as the first true convergence of AI and crypto.

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• Oct 22, 12:00 PM Avalanche Foundation

  Avalanche Foundation launches Visa card for spending crypto tokens

  Avalanche Foundation has introduced the Avalanche Card, a Visa-enabled payment solution for spending crypto tokens like AVAX, WAVAX, USDC, and sAVAX. The card offers both physical and virtual options, 24/7 support, and compatibility with popular apps. Users can join a waitlist for this new crypto payment method, which aims to enhance the utility of Avalanche-based tokens in everyday transactions.

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• Oct 21, 6:51 PM Coindesk

  Crypto ETFs unlikely to expand beyond Bitcoin and Ether under Harris presidency

  Experts predict that crypto ETFs beyond Bitcoin and Ethereum are unlikely to gain approval under a Kamala Harris presidency. Applications for ETFs tracking smaller coins like Ripple's XRP and Solana are in progress, but analysts suggest their chances hinge on the outcome of the US presidential election. If Donald Trump wins, the likelihood of these ETFs being approved could improve significantly, as his administration has shown more support for the crypto industry, while Harris’ stance is expected to continue the current administration’s cautious approach.

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• Oct 21, 8:43 AM Coindesk

  $1.5 trillion Legal & General eyes tokenization for liquidity funds

  UK pension giant Legal & General, with $1.5 trillion in assets, is exploring tokenization for its liquidity funds. This move aligns with other major players like BlackRock, Franklin Templeton, and Abrdn offering blockchain-based money market funds. LGIM's global head of trading, Ed Wicks, emphasized the importance of digitization in improving efficiency and reducing costs in the funds industry. L&G's interest in blockchain tech dates back to 2019 when it planned to use Amazon's managed blockchain for bulk annuities.

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• Oct 18, 5:04 PM The Block

  AI bot Truth Terminal becomes crypto millionaire after Fartcoin rally

  AI chatbot Truth Terminal has become a crypto millionaire after its Fartcoin holdings surged, while GOAT’s market cap soared to $420 million. Created by Andy Ayrey using Anthropic's Claude 3 Opus, the bot was initially funded with $50,000 in Bitcoin by Marc Andreessen. Truth Terminal's portfolio includes significant holdings in GOAT and FART tokens, alongside other memecoins on Solana. The bot's success highlights how meme-based narratives can push tokens to greater market caps, creating cult followings on X.

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• Oct 18, 2:13 PM ZachXBT

  Decentralized AI network Masa accused of hiding six-figure hack as upgrade

  Blockchain sleuth Zachary Wolk, also known as ZachXBT, has accused Masa Network of not disclosing a hack in September 20 which resulted in losses amounting to six figures. In an Oct. 17 post on X, Wolk questioned Masa Network about their failure to disclose a six-figure hack that allegedly took place on September 20, 2024. He also provided more details about the incident, including the involvement of deployer addresses and the potential impact on multiple victims. Wolk suggested that the Masa team might be attempting to cover up the incident by portraying it as an "upgrade." Masa Network has yet to respond to these allegations.

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• Oct 18, 10:30 AM ZachXBT

  EigenLayer's X account compromised with scam links

  EigenLayer's X (formerly Twitter) account has been hacked. The compromised account is posting fraudulent links. Users are warned not to click on any links or connect their wallets to prevent potential theft of crypto or tokens.

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• Oct 16, 2:32 PM Coindesk

  Italy to raise capital gains tax on crypto to 42% from 26%

  Italy plans to increase capital gains tax on crypto from 26% to 42%. The decision aims to address the growing crypto phenomenon and boost revenue for the 2025 budget. Despite this news, Bitcoin's price surged above $68,000, marking a 12% week-over-week gain. The move aligns with Italy's efforts to strengthen its digital services tax.

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• Oct 16, 5:07 AM Hand-Picked

  SEC takes legal action against UBI Blockchain for non-compliance

  The SEC has initiated administrative proceedings against UBI Blockchain Internet Ltd. (UBIA) for failing to file periodic reports since May 2019. UBIA, a Delaware corporation based in Hong Kong, is accused of violating Exchange Act Section 13(a) and related rules. The SEC aims to determine whether to suspend or revoke UBIA's securities registration for investor protection.

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