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Share link:In this post: Do Kwon pleaded guilty in Manhattan to two counts of fraud over the $40 billion TerraUSD and Luna collapse. He agreed to forfeit over $19 million and faces up to 25 years in prison, with prosecutors seeking no more than 12 years. Prosecutors said Terraform products failed as promised, and the crash fueled the 2022 crypto winter.
Share link:In this post: Steven Miran and James Bullard both said Trump’s tariffs are not causing inflation. Miran has been nominated to fill a vacant Fed board seat after Adriana Kugler’s resignation. Bullard is a contender to replace Jerome Powell as Fed chair next year and expects rate cuts starting in September.
Share link:In this post: Genius Group plans a secondary stock listing in Asia, with South Korea as the top choice. The move aims to boost liquidity, enable fairer pricing, and allow near 24-hour trading. Other possible listing locations include Australia, Malaysia, Thailand, Hong Kong, and Japan.
Share link:In this post: Fenwick & West, a prominent Silicon Valley law firm, is being sued for allegedly aiding in FTX’s fraud. The case is part of a broader investigation into the practices of FTX and its affiliates, with multiple parties seeking accountability. Another lawsuit targeted Sullivan & Cromwell last year, which billed $8.5 million in fees while serving as primary counsel during the 16 months preceding FTX’s collapse.
Share link:In this post: Belarusian central bank drafts rules permitting crypto payments. Governor Golovchenko makes an announcement after meeting with Lukashenko. Minsk faces sanctions of the kind that convinced Moscow to start using cryptocurrencies.
Share link:In this post: The S&P 500 closed at a record 6,445.76, and the Nasdaq hit 21,681.90 after July inflation came in softer than expected. July CPI rose 2.7% annually, below the 2.8% forecast, while core CPI increased 3.1%. Traders now see a 94% chance of a September Fed rate cut, with more cuts likely in October and December.
$BIO is skyrocketing, what should we be watching for?
Bitcoin Cash holds firm amid market sell-off, with a key liquidity zone at $603 potentially triggering more upside.
- 22:34ISDA and Tokenovate establish a smart contract derivatives working groupJinse Finance reported that the International Swaps and Derivatives Association (ISDA) has partnered with Tokenovate to establish a smart contract derivatives working group. The group aims to develop an open-source, production-ready smart contract library that integrates ISDA's Common Domain Model (CDM) functionalities and business processes, and to explore integration with blockchain to optimize workflows.
- 22:15Anthropic seeks billions of dollars in cloud service supportJinse Finance reported that, according to sources, artificial intelligence company Anthropic is in talks with Google (GOOG.O) regarding a deal that would provide Anthropic with additional computing power worth tens of billions of dollars. The sources said that this plan, which has not yet been finalized, involves Google providing Anthropic with cloud computing services. Google has previously been both an investor in and a cloud service provider for Anthropic. The negotiations are still at an early stage and details may change. Like its peers, Anthropic has been raising large amounts of capital to keep pace with the AI race. Industry insiders say that the R&D breakthroughs and consumer demand driving advances in artificial intelligence will require more resource investment. About a month after completing a $13 billion funding round, Anthropic has also recently held early-stage financing talks with Abu Dhabi investment company MGX.
- 22:03Spot gold plunges 6%, marking the largest drop in over 12 years; analysts warn of bubble riskBlockBeats News, October 21, according to the Financial Times, gold prices plummeted by 6% on Tuesday, marking the largest single-day drop since April 2013. The historic rally in gold has paused as India’s Diwali gold buying season comes to an end. After reaching a high of $4,381 per ounce on Monday, gold prices plunged to $4,082 on Tuesday, which the market generally sees as a long-overdue correction. The historic rally this year has accelerated in recent weeks, with a 25% increase in just the past two months. Nicky Shiels, Head of Metals Strategy at MKS PAMP SA, stated: "The market is showing signs of a bubble, mainly driven by an extremely overbought condition—this rally is peaking. The fact that gold surged $1,000 in six weeks indicates that prices are excessively overvalued, and we are at an irrational high." Analysts pointed out that the recent rebound of the US dollar, as well as the lack of futures market position data due to the US government shutdown, have jointly contributed to this most dramatic gold price plunge since 2013.