The Block
Quick Take FTX has filed some 25 lawsuits seeking to claw back funds from various individuals that received funds from FTX, including Anthony Scaramucci, the team behind StoryBook Brawl, an exploiter who siphoned hundreds of millions of dollars from FTX, and the head of a bank that received a massive investment. The exploiter, despite allegedly profiting hundreds of millions of dollars from FTX while it was in operation, filed a bankruptcy claim with his personal information for $13 million stranded on the
Quick Take Web3 investor and ex-ParaFi Capital partner Santiago Roel Santos announced the launch of Inversion Capital, a new private equity fund designed to acquire traditional businesses and transform their operations by adopting crypto.
Quick Take Over the past 30 days, The Block’s DeFi index has surged by ~102%. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take In his “Digital Asset Framework” published on Friday, MicroStrategy founder Michael Saylor supports the idea of creating a strategic bitcoin reserve to help eliminate the national debt. The document also argues for creating a universal taxonomy and set of industry standards for the wider crypto industry.
Quick Take Tether, the world’s largest stablecoin issuer, has made a “strategic investment” of $775 million into the right-leaning streaming platform Rumble. Last month, it announced it would allocate up to $20 million of its excess cash reserves to bitcoin.
Quick Take Welch’s team launched the memecoin HAWK on Dec. 4, where it quickly rose and plummeted in market capitalization. Twelve investors filed a lawsuit against Welch’s team on Dec. 19, alleging the HAWK memecoin launch violated securities laws.
Quick Take An NFT trader has shared an early look at Opensea’s upcoming redesigned platform, which includes an ‘XP’ points system with retroactive rewards for early traders, a redesigned interface, and more. The points system hints at a possible token drop from OpenSea, which is set to launch the redesigned marketplace in December, though no such token has been confirmed.
Quick Take CoinDesk’s parent company Bullish has fired three senior editorial staffers, including Editor-in-Chief Kevin Reynolds as well as Deputy Editors-in-Chief Nick Baker and Marc Hochstein. The move comes after news broke on Thursday that upper management at Bullish forced CoinDesk editors to pull an article about Tron founder Justin Sun. A letter seen by The Block that was written by by CoinDesk staffers details the newsroom’s complaints.
Quick Take U.S. spot Bitcoin ETFs experienced a record $680 million worth of net outflows on Thursday, breaking a 15-day, $6.7 billion streak of positive flows. The SEC approved filings from the Nasdaq and Cboe BZX Exchange to list and trade shares of crypto index ETFs from Hashdex and Franklin Templeton, respectively. The cryptocurrency market continued to drop sharply following Fed Chair Jerome Powell’s hawkish remarks on Wednesday about slower projected rate cuts in 2025. The following article is adapte
The current ETH ETF landscape shows a concentrated market structure.The following is an excerpt from The Block’s Data and Insights newsletter.
