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FTX’s bankruptcy proceedings move forward as the estate auctions off substantial Solana assets.
The suit, filed in a Texas court, alleges a regulatory overreach by the SEC
The 7-day moving average of the change in USDT held by exchanges reached $568 million — its highest level in a year. This is an excerpt from The Block’s Data & Insights newsletter.
The blockchain and web3 development company behind the well-known MetaMask Wallet filed a lawsuit against the agency on Thursday in a Texas court. The firm also noted in the complaint that SEC staff sent Consensys a Wells notice earlier this month, meaning a formal notice that the agency plans to bring an enforcement action against them.
ViaBTC auctioned off an ‘epic sat’ associated with the fourth Bitcoin halving block for 33.3 BTC ($2.13 million) on the crypto exchange CoinEx Global. Only four of these ‘epic sats’ exist thanks to the Bitcoin Ordinals protocol.
Web3 gaming platform Immutable said it’s launching a gaming “rewards program” worth $50 million. Games involved include high-profile crypto titles like “Illuvium” and “MetalCore.”
Movement Labs has raised $38 million in a Series A round led by Polychain Capital. The funding will be used to bring Facebook’s Move Virtual Machine to Ethereum.
A16z crypto’s CTO Eddy Lazzarin lambasted memecoins, saying they undermine crypto’s “long-term vision,” tarnish “how the public, regulators, and entrepreneurs” view the industry and serve as a casino “to a relatively small population.”6th Man Ventures co-founder Mike Dudas came to the defense of memecoins, which collectively have a market cap worth tens of billions of dollars.