🔥- Binance starts a standoff against FTX ! - 21/05/2025
But also : Kraken launches its regulated derivatives products in the EU, Kalshi teams up with xAI to revolutionize predictive markets , and XRP has a first day trading at $19 million
Hello 👋
Welcome to your daily two-minute briefing on the latest developments in the Web3 space.
🔥 TODAY'S HOT NEWS
Binance requests dismissal of FTX lawsuit
Binance has asked a US court to dismiss FTX's $1.76 billion lawsuit, arguing that the case lacks legal basis and territorial jurisdiction. In its motion, Binance argues that the entities involved are not based in the US and that the agreements in question are governed by Hong Kong law.
The exchange also insists that its companies were not parties to the original share purchase agreements, further weakening the legitimacy of the lawsuit. Binance states that the plaintiffs have not demonstrated that its entities could reasonably have expected to be sued in US courts.
Regarding FTX's alleged insolvency, Binance asserts that it is based on unproven assumptions. If FTX had actually been insolvent in July 2021, there would have been no value left to “destroy” in November 2022. Furthermore, Binance criticizes the omission of the role of massive internal fraud at FTX in its collapse. The exchange also refutes allegations that CZ's tweets triggered a bank run, calling these claims exaggerated.
According to Binance, these messages were factually correct and not specifically targeted at the US market. The platform maintains that its decision to liquidate its FTT in 2022 was the result of market risk, not a desire to harm FTX. It adds that it was primarily seeking to protect itself from the instability generated by FTX's collapse.
💎 MARKETCAP
🟠 BITCOIN : 106 490 $ 📉
🔵 ETHER : 2 550 $ 📉
🟢 FEAR & GREED : 69 📉
Kraken launches regulated derivatives products across the EU
Kraken now offers crypto derivatives in the EU thanks to a MiFID license obtained through the acquisition of a Cypriot company. This strategic expansion allows the platform to operate legally in the EEA.
Kalshi teams up with Elon Musk's AI to revolutionize predictive markets
Kalshi is now using xAI's AI to refine its predictive contracts on economic and political events. Thanks to X's data, users receive automated analysis to guide their investment choices.
XRP futures contracts achieve $19 million on first day
CME Group has launched its first XRP futures contracts. With $19 million traded on the first day, this product becomes the group's fourth crypto contract after BTC, ETH, and SOL.
Telegram accuses French intelligence of attempted censorship
Pavel Durov claims that French intelligence tried to convince him to censor Romanian channels on Telegram before the presidential election. He accuses the DGSE of using false pretexts to justify this request.
🐸 MEME OF THE DAY
Bancor sues Uniswap for patent infringement
Bprotocol Foundation and LocalCoin are suing Uniswap for unauthorized use of their patented AMM technology. They accuse Uniswap of using their invention since 2018 without a license, infringing on their intellectual property.
The dissolution of the LIBRA investigation unit revives the token
LIBRA jumped 80% after Javier Milei dissolved the investigative unit in charge of the scandal, despite ongoing legal proceedings against him. However, the alleged rug pull continues to erode public confidence in Argentina.
Germany reportedly missed out on $2.35 billion by selling its Bitcoin too early
By selling its 49,858 BTC at $57,900 in 2024, Germany missed out on more than $2.35 billion in potential gains. The funds came from the seizure of the pirate site Movie2k, and analysts deemed the hasty sales ineffective.
Circle co-founder raises $18 million to create an AI-focused bank
Sean Neville, co-founder of Circle, has raised $18 million to create Catena Labs, an “AI-native” bank. The project aims to automate key functions such as accounting and cash management using AI.
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Emma and Ben
