Bitcoin Breaks $31K, Crypto Market Shakes Off Slumps

• FTX filed a complaint with the court to retrieve $700 million from Michael Kives and his co-owned company, K5 Global.
• The complaint alleges that Bankman-Fried pursued the deal to leverage Kives’ high-value network to bolster his political and social influence.
• Bankman-Fried resigned as FTX CEO in November 2022 and was replaced by John J. Ray III.

Bitcoin Breaks $31K

Bitcoin recently broke the $31k threshold, continuing to shake off recent slumps in its value.

Supreme Court Rules in Favor of Coinbase

The Supreme Court recently issued an order that moved a user lawsuit against Coinbase into arbitration. This ruling is seen as a victory for cryptocurrency exchanges everywhere, strengthening their legal protections against users seeking damages or refunds for fraudulent activity on their platforms.

FTX Files Complaint

FTX has filed a complaint with the court seeking to retrieve $700 million from “super-networker” Michael Kives and his co-owned company, K5 Global. The complaint alleges that Sam Bankman-Fried pursued the deal to leverage Kives’ high-value network to bolster his political and social influence. Bankman-Fried resigned as FTX CEO in November 2022 and was replaced by John J. Ray III.

Stably Pauses Withdrawals & Minting

Stably has paused withdrawals and minting after Prime Trust halted deposits due to potential violations of KYC/AML laws during onboarding of new users onto its platform. This pause is expected to impact user experience until further notice as Stably seeks a resolution with Prime Trust over these allegations.

Binance’s Legal Woes Intensify

Binance’s legal woes have intensified after Brazilian lawmaker Marcelo Freixo sought questioning of Binance’s general manager in Brazil over alleged money laundering activities conducted through the crypto exchange platform in Brazil since 2019

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