– Bitcoin “wholecoiners” have hit 1 million, according to data from Glassnode. This trend could lead to hyperbitcoinization, where Bitcoin replaces established financial institutions as the world’s default value system.
– FTX is seeking to claw back $244 million from insiders and executives who benefited from its “wildly inflated” acquisition of Embed. Lawyers have accused FTX insiders of disproportionate payouts to Embed shareholders.
– Robert F. Kennedy Jr. has become the first US presidential candidate to accept campaign donations in Bitcoin, calling it a “symbol of democracy and freedom.”
Other highlights:
– Voyager’s bankruptcy plan has been approved, with customers expected to recover 35.72% of their claims initially.
– Cryptocurrency trading platform Coin Cafe has been ordered to repay $4.3 million to its users after allegedly charging “exorbitant and undisclosed fees” for storing Bitcoin on the platform.
– Bitcoin price may face potential losses heading into Q3 2023 due to a potential liquidity crunch triggered by a US debt deal. The pseudonymous independent market analyst Income Sharks predicts that Bitcoin will range between $20k to $30k unless there is a new narrative or stocks rally.
