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A new report from the FTX team that’s digging through the financial guts of the failed exchange said the company owed its customers $8.7 billion after commingling and misusing their deposits, and senior executives started hiding that trouble as early as August 2022. About $7 billion in liquid assets have been recovered so far, and those searching the company’s assets "anticipate additional recoveries." Wilk Auslander LLP Partner Eric Snyder discusses the latest developments in FTX's bankruptcy case. 

Jun 27, 2023

"CoinDesk Daily" host Jennifer Sanasie takes a look at today's hottest headlines in the crypto industry. Digital asset investment products witnessed the largest single weekly inflows in a year - mostly dominated by bitcoin-related products, according to a report from CoinShares. Meanwhile, Hut 8 Mining (HUT) has secured up to $50 million in loans from Coinbase Credit to fund its operations, which includes closing a merger with US Bitcoin Corp. Plus, days after abandoning its proposed purchase of Prime Trust, BitGo CEO Mike Belshe said the cryptocurrency custodian has more acquisitions in the pipeline. And, the NEAR Foundation is joining Alibaba Cloud to accelerate Web3 growth in Asia and the Middle East.

Jun 26, 2023

ProShares' Bitcoin Strategy ETF (BITO) recorded the highest weekly inflow in over a year, as bitcoin prices broke $30,000, according to data cited by Bloomberg senior ETF analyst Eric Balchunas. Investors poured $65 million into BITO in the past week, breaking a previous 2023 high of just over $40 million in April. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

Jun 26, 2023

A British man who made roughly $900,000 in an elaborate Twitter hack and a separate crypto-related SIM-swapping scheme received a 5-year sentence from a federal judge on Friday, according to a report from Inner City Press. "The Hash" panel discusses the judge's ruling and the state of crypto crimes using social media.

Jun 26, 2023

Singapore's central bank is proposing ways to design open, interoperable networks for tokenized digital assets. "The Hash" panel discusses the framework presented by the Monetary Authority of Singapore (MAS), as banking giants like Standard Chartered, HSBC and Citi are set to run multiple tokenization trials across wealth management, fixed income and foreign exchange.

Jun 26, 2023

Bernstein said in a research report that the Grayscale Bitcoin Trust (GBTC) is only 3% of the total bitcoin market cap, which means there is the “headroom for a compliant ETF to grow its share as a bitcoin on-ramp solving the pain of custody.” "The Hash" panel discusses how the TradFi giants like BlackRock filing for a spot bitcoin ETF application in the U.S. could impact the crypto industry. Grayscale is owned by CoinDesk’s parent company, Digital Currency Group (DCG).

Jun 26, 2023

Six engineers calling themselves the “Six Samurai” are proposing a Terra Classic ecosystem revival plan for the blockchain as some community members try their best to break away from the shackles of disgraced founder Do Kwon and rebuild the project. "The Hash" panel weighs in on their effort to revive the original network created by Terraform Labs.

Jun 26, 2023

The U.S. Commodity Futures Trading Commission (CFTC) began a formal review taking a closer look at prediction market Kalshi's proposed contracts that let users bet on which political party will control Congress after an election. CoinDesk Managing Editor of Global Policy and Regulation Nikhilesh De breaks down the CFTC's review process and the potential impact of the agency's decision.

Jun 26, 2023

Federal Reserve Chair Jerome Powell said policymakers could hike rates possibly twice more this year as the central bank works to control inflation. Johns Hopkins University professor of applied economics and Independent Institute senior fellow Steve Hanke joins "First Mover" to discuss the potential macro headwinds weighing on bitcoin's price and the wider crypto markets. Plus, the global implications of Russia briefly facing the threat of an armed insurrection over the weekend. 

Jun 26, 2023

Arca Head of Research Katie Talati discusses her analysis and outlook for bitcoin (BTC) as the largest cryptocurrency by market cap soared to a one-year high last Friday above $31,000 before retreating slightly.

Jun 26, 2023