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- Crypto Coin AVAX Drops 11% After Self-Described Whistleblower Says Avalanche Weaponized Litigation Against Rivals
Crypto Coin AVAX Drops 11% After Self-Described Whistleblower Says Avalanche Weaponized Litigation Against Rivals
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Ava Labs CEO rejected the accusation as "conspiracy theory nonsense."
The AVAX token dropped to its lowest price since July 13 on Monday after a self-described "whistleblower" website accused Ava Labs, the company behind the Avalanche blockchain, paid lawyers to hurt competitors and keep regulators at bay.
On Friday, Crypto Leaks, a self-proclaimed whistleblower, published a report saying that some years ago New York-based Ava Labs focused on developing Avalanche's ecosystem, and law firm Roche Freedman made a deal under which Freedman would collect confidential information of rival companies and trap them under class-action lawsuits in return for massive amounts of AVAX tokens and Ava Labs corporate stock. Read More
Rumor has it that they are heading to, or are already in, Dubai, says a lawyer with 30 years of experience. But can they stay there forever?
Three Arrows Capital was one of the biggest crypto hedge funds, at one point managing over $10 billion in capital—
Until the founders dropped off the map.
A 1000-page legal document came out today, bringing clarity to the case.
I went through it. This is what I found:
— Jack Niewold 🫡 (@JackNiewold)
Jul 18, 2022
The creators of Three Arrows Capital are missing. According to reports, when court-appointed liquidators recently visited the firm’s Singapore headquarters, all they discovered was a locked door and a stack of outdated mail.
Singapore-based 3AC is among the flagship cryptocurrency firms that have crumbled in recent weeks under bear pressure and faced liquidity issues driven by the market sell-off.
In June, a court in the British Virgin Islands, where 3AC had moved its registration, appointed consulting firm Teneo to liquidate 3AC’s assets. Read More
OpenSea volume plummets to yearly lows
OpenSea, the world’s largest nonfungible token (NFT) marketplace, has witnessed a substantial drop in daily volumes as fears about a potential market bubble grow.
Notably, the marketplace processed nearly $5 million worth of NFT transactions on Aug. 28 — approximately 99% lower than its record high of $405.75 million on May 1, according to DappRadar. Read More
Cointelegraph
Global crypto exchange FTX will not be acquiring a majority stake in Huobi, according to CEO Sam Bankman-Fried, or SBF.
In a Monday tweet, SBF explicitly denied a Bloomberg report that claimed FTX was planning to purchase crypto exchange Huobi. Cointelegraph reported on Aug. 12 that Huobi co-founder Leon Li was considering selling his majority stake, valued at more than $1 billion, in the company.
“We are not planning to acquire Huobi,” said SBF. Read More
Just to be explicit because apparently a lot of people are saying this:
No, we are not planning to acquire Huobi.
— SBF (@SBF_FTX)
Aug 29, 2022
Analytical Data
Coinglass
$400M in Liquidations Daily as Bitcoin Dipped Below $20K
The relative volume of Bitcoin transfers is now dominated by large transactions. Indeed, 63% of all onchain volume is made up of transactions of $10 million or more. This momentum has been steadily increasing since the second half of 2020.
Bitcoin only intensified its recent price drops by slumping to just under $20,000 for the first time in about six weeks. Altcoins suffer too, leading to almost $400 million in liquidations from over-leveraged traders. More than 125,000 traders have been wrecked so far, with the single-largest liquidated position taking place on OKX with the BTC/USDT trading pair – worth $3.5 million.
CoinGlass
📌Historically, September was the worst month for Bitcoin between 2013 and 2021, with a decline in 7 of 9 years.
Average BTC price drop in September is -6%. This coincides with a decline in the stock market, where the average decline of the S&P 500 in September was -0.7% over the past 25 years.
TradingView
Both #BTC and #ETH at 2017 ATH level.
Florida Blockchain Politics
Chicago Tribune
Attention now turn to the expensive task of unseating Ron DeSantis.
Charlie Crist raised more than $1 million in his first 24 hours as the official Democratic nominee for Governor.
The St. Petersburg Democrat’s campaign announced the seven-figure haul to Florida Politics. The burst in funding came a day after Crist won 60% of the vote in the Aug. 23 Democratic Primary against Nikki Fried.
“There have been a lot of questions on whether Democrats can compete with Ron DeSantis — today makes it clear we can,” said Austin Durrer, Crist’s Campaign Manager. “Florida will be a marquee battleground state this November. Charlie Crist can and will stop Ron DeSantis right here, right now.” Read More
Florida Politics
We look at the people behind the scenes making calls that could make or break races.
Florida voters made a lot of decisions Tuesday night in races up and down the Primary ballot. But more appears on each ballot than mere votes. Reputations are built or squandered as supervisors count votes each election, and Florida Politics keeps score.
Incumbents were ousted, upsets were made and, like always, there were players who stood out and players who took a nosedive. In our Winners and Losers list, we look at the people behind the scenes making calls that could make or break races. Read More
Events
Click below for events & meetups in August 2022
Crypto News Heard Around the State
Tampa News
HotelsMag.com
At the Dream Hotel in Hollywood, California, the energy of the lobby is electric, -literally-, thanks to an eye-popping gallery of NFT artworks that adorn the walls. As one of the first places in the world to display an NFT art gallery, done in partnership with The Crypt Gallery of New York, The Dream is taking the model of a static hotel art program and turning it on its head. Read More
Orlando News
Miami News
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