SBF Demands New Trial, Alleges Political Witch-hunt by Biden Administration
For starters, we’re not gonna see Sam Bankman-Fried giving up anytime soon, as dude probably missed the memo when our parents told us actions have consequences. Fresh from his prison cell, our favorite curly-haired ex crypto CEO just played the victim card with audacity…
Elsewhere on the issues, Bitcoin is still testing our diamond hands while dragging the entire market down with it. And Elon Musk is out there building the “everything app”, and it's about to bridge social media with DeFi. X is about to go bullish, guys… before we draw the curtain, being a crypto executive in France just became a high-risk occupation, so you might wanna stay safe out there, folks.
- FTX’s Sam Bankman-Fried Wants a New Trial, Claims He Was a Political Victim of the Biden Administration
- Crypto market drowns in red as bitcoin falls to $68,000
- Elon Musk's X to launch crypto and stock trading in ‘couple weeks’
- Binance’s France chief targeted by armed men looking for crypto
FTX’s Sam Bankman-Fried Wants a New Trial, Claims He Was a Political Victim of the Biden Administration
Sam Bankman-Fried, the imprisoned former CEO of FTX, reportedly filed a motion for a new trial in the Southern District of New York today, citing Rule 33 of the Federal Rules of Criminal Procedure and the Due Process Clause of the U.S. Constitution. The filing, reported by the Inner City Press, was supported by a declaration from attorney Daniel Chapsky and comes as SBF continues to dispute the circumstances surrounding FTX’s bankruptcy and his conviction. In a series of recent posts on X, SBF claimed he never approved the bankruptcy filing and that lawyers effectively forced the company into Chapter 11.
Crypto Market Drowns in Red as Bitcoin Falls to $68,000
Crypto markets are deep red on Monday, with industry leader bitcoin sliding lower before a packed week of economic data. At press time, bitcoin traded near $68,200, down nearly 3% over 24 hours, with XRP, ether, and DOGE registering much bigger losses. Losses hit 85 of the top 100 tokens by market cap, with privacy coins like Monero and Zcash down 10% and 8%, respectively. Smart contract tokens bled too, with the CoinDesk Smart Contract Platform Select Capped Index down nearly 6%, pushing its year-to-date drop to 28%. The market weakness looks particularly disappointing against the backdrop of the weak U.S. consumer price index data released last week that kept hopes of Fed rate cuts alive.
Elon Musk’s X to Launch Crypto and Stock Trading in ‘Couple Weeks’
Elon Musk’s social media platform X is set to soon let users trade stocks and cryptocurrencies directly from their timelines as the company pushes deeper into financial services. The upcoming features, described by the company’s head of product, Nikita Bier, will include "Smart Cashtags.” These will allow users to interact with ticker symbols in posts and execute trades from the app. The announcement comes as the company prepares to launch an external beta of X Money, its in-house payments system. Musk said the tool is already live in internal testing and will be available to a limited group of users within one to two months.
Binance’s France Chief Targeted by Armed Men Looking for Crypto
David Princay, the president of Binance’s France arm, was targeted by armed robbers on Thursday just hours before the same gang attacked an unnamed crypto entrepreneur at their home. According to local media, three men broke into Pincay’s Val-de-Marne apartment, eventually fleeing with two mobile phones. The robbers reportedly tried to continue their spree hours later, this time targeting a home in the commune of Vaucresson that belonged to a crypto entrepreneur. After gaining access to the house, they beat the entrepreneur with their guns before fleeing.
Other Highlights Worth Mentioning
Binance converts its $1 billion safety net into 15,000 BTC - Coindesk
Crypto CEO Gets 20 Years for $200M Bitcoin Ponzi Fraud - 99 Bitcoins
Israeli soldier allegedly used military secrets to gamble on Polymarket - Protos
Russia Reconsiders Stablecoin Ban Amid US and EU Pressure - Be in Crypto
COINIGY FACT OF THE DAY
On this day in 2021, Bitcoin’s price traded above the $50,000 mark for the first time in its history.
On February 16, 2021, the price of Bitcoin (BTC) crossed the $50,000 mark for the very first time ever, setting a major psychological and market milestone in the cryptocurrency’s price history. This breakout came amid one of the most intense bull runs Bitcoin had ever seen, with BTC’s year-to-date gains approaching 70 %. At its peak that day, Bitcoin hit just over $50,001 on major exchanges, marking the first time the largest crypto asset traded above this key level.
COINIGY MEME OF THE WEEK
