Ether Machine Raises $1.5B as Bitcoin Breaks Teases $120K š
What's good, fam?
You know they say crypto never sleeps, and last week proved it. We've got institutional whales throwing around $1.5 billion like it's pocket change, while Bitcoin has come so close to that sweet $120K againā¦ You definitely canāt say you didnāt see it coming
Elsewhere, we got some CoinDCX wealthy poor souls learning security matters the hard way, at least theyāve still got enough in the tank to offer some bit of positives in the form of a sweet bounty. But hey, after what feels like forever, FTX creditors finally have another date to circle on their calendar š
Here's all thatās been cooking last week:
- The Ether Machine Raises $1.5 Billion to Lead Institutional Ethereum Yield Market
- FTX creditors to receive next round of payouts by Sept 30
- Bitcoin gains momentum and temporarily exceeds the $119,000 mark
- CoinDCX Offers $11 Million Bounty After $44 Million Exchange Hack
The Ether Machine Raises $1.5 Billion to Lead Institutional Ethereum Yield Market
In a bold move that may reshape how institutions access Ethereum-based returns, The Ether Machine has secured over $1.5 billion in capital to support its upcoming public debut. Set to list under the ticker ETHM on Nasdaq, the company is positioning itself as the largest public vehicle dedicated solely to Ethereum and ETH-denominated yields. At launch, The Ether Machine will hold more than 400,000 Ether (ETH) on its balance sheet, offering institutional investors direct exposure to Ethereum staking rewards and decentralized finance (DeFi) returns.
FTX creditors to receive next round of payouts by Sept 30
The FTX Recovery Trust has set Aug. 15 as the record date for its next distribution to creditors, with payments expected to begin around Sept. 30, according to a statement released on July 23. The window covers holders of allowed Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims under the confirmed plan, along with Convenience Claims that became allowed after earlier cutoffs and have not yet been paid. The estate also received court approval to reduce its disputed claims reserve by $1.9 billion, bringing it from $6.5 billion to $ 4.6 billion.
Bitcoin gains momentum and temporarily exceeds the $119,000 mark
According to CoinMarketCap, the oldest and most well-known digital currency temporarily cost $119,819.79 overnight into Monday, significantly more than at the end of last week. Currently, the best-known cryptocurrency is trading slightly lower at around $119,040. On Friday, the price temporarily fell below the $115,000 mark, but has since recovered gradually. Two weeks ago, the value of Bitcoin climbed to a record high of $123,236. However, the cryptocurrency couldn't quite maintain that level. According to experts, many investors are vacillating between the hope of new price records and the thought of cashing in their profits.
CoinDCX Offers $11 Million Bounty After $44 Million Exchange Hack
Indian cryptocurrency exchange CoinDCX announced a $44 million security breach targeting its internal operational accounts on Friday. The exchange has responded by offering a recovery bounty of up to 25% of any funds retrieved by ethical hackers. CoinDCX CEO Sumit Gupta confirmed that the exploit affected the companyās internal liquidity provision accounts. User funds remained completely unaffected during the incident. The breach represents the second-largest publicly disclosed hack of an Indian crypto platform.
Other Highlights Worth Mentioning
FBI Drops Criminal Probe Into Kraken Founder Jesse Powell - Coindesk
Crypto Hacks Exceed $3.1B in 2025 as Access-Control Flaws and AI Threats Mount - Yellow
Over $3.4 billion in Ethereum lost forever due to user mistakes and contract bugs - Cryptoslate
Solana Surges Past $100 Billion Market Cap Mark After Weekly Gain of 27% - CoinMarketCap
COINIGY FACT OF THE DAY.
The Ethereum Foundation officially launched the blockchain on July 30, 2015ā¦.
The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed āFrontier.ā Since then, there has been several network updates ā āConstantinopleā on Feb. 28, 2019, āIstanbulā on Dec. 8, 2019, āMuir Glacierā on Jan. 2, 2020, āBerlinā on April 14, 2021, and most recently on Aug. 5, 2021, the āLondonā hard fork.
COINIGY MEME OF THE WEEK
