Welcome to Barmy’s Daily Crypto News – July 24th, 2022
1. FTX Helps Voyager Customers And Boosts Firm’s Deployment
Bankman-Fried tweeted a statement on July 22 outlining FTX’s willingness to assist Voyager’s clients. Bankman-Fried stated in his tweet that he was “happy to do what we can to get liquidity to Voyager’s customers.” According to a news release provided by Bankman-Fried, FTX launched a combined bid with Alameda Ventures and West Realm Shires Inc., the owner and operator of FTX US. The business intends to “provide early liquidity to customers of Voyager.” Bankman-Fried claimed he intended to provide a better means of assisting clients in obtaining money.
In an interview for CNBC’s “Closing Bell” on July 22, Bankman-Fried stated that FTX was willing to provide “hundreds of millions beyond what we have thus far” to crypto companies experiencing the downturn. Bankman-Fried continued by expressing his desire to see more people “[provide] capital to those in need.” The announcement comes after the CEO of FTX stated at the end of May that the company was prepared to spend billions on M&A transactions.
2. Finland Gains $47M From 1,889 Seized Bitcoins Sale
The customs division of the Finnish government, known as Tulli, declared on Thursday that it had sold bitcoins that had been “legally forfeited.”
The release states, “During the summer, Finnish Customs realized its cryptocurrencies that had been legally forfeited to the state,” further explaining: “The realization concerned 1,889.1 bitcoins. The state gained about 46.5 million euros in total in proceeds from their sale.”
The bitcoins were taken “in connection with investigations into offenses related to narcotics and doping substances,” according to the customs office. The coins “were sold by the two cryptocurrency brokers selected by Customs through competitive negotiated procedure in late spring,” the announcement continues.
3. Coinbase Challenges SEC’s Accusation Of Selling Securities
In a complaint submitted on Thursday, the U.S. Securities and Exchange Commission (SEC) claimed that cryptocurrency exchange Coinbase listed nine crypto asset securities. A former Coinbase employee was accused of “violating the antifraud provisions of the securities laws” in relation to insider trading by the securities regulator.
The crypto tokens AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, and KROM are unregistered securities, according to the SEC’s lawsuit.
But the SEC’s claim that some of the currencies exchanged on its platform are digital securities was quickly refuted by Coinbase. In a blog post published on Thursday, the exchange’s chief legal officer, Paul Grewal, emphasized that: “Coinbase does not list securities on its platform. End of story.”
4. Russian Media Censor Roskomnadzor Removes Tor Project Restriction
The main website of the Tor Project has been removed from the list of websites that are barred from using for spreading illegal information by Roskomnadzor, also known as RKN, the Federal Service for Supervision of Communications, Information Technology, and Mass Media in Russia. The delisting is delayed by two months and occurs after a court ruling.
In December of last year, the government agency started efforts to block Russian internet users from accessing the website. The action was taken to carry out a decision made by the Saratov District Court in late 2017.
The ruling of the regional court was contested by legal experts from Roskomsvoboda, a non-governmental group dedicated to defending digital rights in Russia, claiming procedural irregularities, including the refusal to call the owner. A court of appeals reversed the decision in May.
5. Rich Dad Poor Dad Robert Kiyosaki Warns Again Regarding Bond Market
Robert Kiyosaki once again spoke up about his opinion on the current economy. According to Kiyosaki, the well-known author of the best-selling book Rich Dad Poor Dad, the “biggest bond crash since 1788” is soon to come. He emphasized that the bond market, which is “40 times larger” than the stock market, is where the “real problem” is. He is awaiting a further drop in the price of Bitcoin before purchasing some.
The famous author tweeted on Friday: “U.S. bond market crashes. Biggest bond crash since 1788 … Bond markets bigger than stock market. I am buying more gold, silver now, and waiting for bitcoin to go lower.”
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