🧑⚖️ - Alexey Pertsev appeals guilty verdict - 17/05/2024
But also : Ryan Salame denies involvement in FTX fraud, 600 companies reveal they invested in BTC ETFs, and JP Morgan estimates the cost of mining at $45,000
Hello 👋
Welcome to your daily two-minute briefing on the latest developments in the Web3 space.
Dive into the significant happenings and advancements that are sculpting the Web3 landscape of tomorrow.
“Leadership is taking responsibility when others fall short”
- Howard Schultz
🔥 TODAY'S HOT NEWS
Alexey Pertsev appeals his sentence
Alexey Pertsev, developer of Tornado Cash, has filed an appeal with the Court of Appeal s-Hertogenbosch after being convicted of money laundering and sentenced to 64 months in prison.
The conviction was based on the use of Tornado Cash by criminal organizations to launder $2.2 billion from platform hacks and DeFi exchanges. The judges emphasized that Tornado Cash was not a barrier to illegal activity and that Pertsev failed to take the necessary measures to prevent misuse.
Following the verdict, Pertsev immediately began serving his sentence, although he may eventually ask to remain at home to await the appeal process. The appeal process could take several months before the first hearing, and the court has yet to confirm whether the appeal has been accepted.
💎 MARKETCAP BY
🟠 BITCOIN : 65 700 $ 📉
🔵 ETHER : 2 940 $ 📉
🟢 FEAR & GREED : 59 📉
Fractional investment in tokenized real estate assets ! 🧡
600 companies reveal $3.5bn invested in BTC ETFs
More than 600 companies have invested in Bitcoin Spot ETFs, according to their 13F filings with the SEC. These investments total $3.5 billion, with financial giants such as Morgan Stanley, JPMorgan and UBS.
JP Morgan Estimates Cost of BTC Mining at $45,000
According to JPMorgan, the cost of mining BTC is around $45,000, down from over $50,000 previously. This decrease is due to increased efficiency of operations and the withdrawal of unprofitable miners after halving the number of miners.
Ryan Salame denies involvement in FTX scam
Ryan Salame, former CEO of FTX Digital Markets, denies any involvement in the massive $10 billion-plus fraud perpetrated on exchange customers by his Alameda friend Sam Trabucco.
An ex-employee behind the pump.fun hack
Pump.fun was exploited by a former employee who embezzled 12,300 SOL, or $1.9 million, using flash loans. The platform has suspended transactions and plans to compensate affected users.
🌐 Try decentralised finance with RealT
Discover the future of property investment with RealT and its many advantages thanks to DeFi (decentralised finance). 🚀
Available on the Gnosis Chain, use the RMM and YAM applications to unlock new financial opportunities with your property assets.
Commercial link*
US Treasury to step up fight against crypto laundering
In its 2024 strategy document, the Treasury Department highlights its priorities, including sanctions against Bitzlato and Lazarus, as well as settlements with Binance and warnings about pork-barrel scams.
US Senate votes to repeal controversial SEC rule
The US Senate has voted to repeal the SEC's SAB 121. The vote was hailed as a strong message against SEC overreach. However, the Biden Administration has indicated that the President will veto the bill.
Switzerland plans to introduce system to track crypto investors
Switzerland plans to better track cryptocurrency holders through an automatic reporting system for crypto assets, in line with OECD recommendations.
Coinbase Shares Fall Despite BTC Rise
Coinbase shares fell nearly 8% to $202.49 on Thursday morning after a Financial Times report indicated that the CME may soon offer spot bitcoin trading due to strong customer demand.
🐸 MEME OF THE DAY
If you like what we do, don't forget to hit the like button, it gives us the strength to keep going!
If you can't wait to see us again before tomorrow, you can follow us on Twitter (@HopiumNews).
Feel free to share this newsletter with your friends 😉
Have a great day,
Emma and Ben