Author: Coindesk

“A close election is a given,” said Abel Seow, the Seoul-based BitGo Asia-Pacific director. “But it’s hard to say whether crypto will be a deciding factor. What I can say is that with the passage of time and each cycle, the market has become bigger and bigger. Not only the involvement of investors but also traditional corporations. So, at some stage when these traditional corporations come in, and they have a crypto angle, elections could be impacted by the space.” Read the full article here

Some traders were positioned for bitcoin leadership after the ether-bitcoin ratio dipped below key support last week. As such, ETH’s market-beating rise has brought rapid adjustment in market positioning, leading to a sharp uptick in the perpetual funding rates or cost of holding long/short positions, Singapore-based QCP capital explained in a note on Telegram. The upside volatility has also led to a significant short covering in ETH front-end call options. Read the full article here

During her closing arguments on Friday, SEC attorney Laura Meehan told the jury that during a prior de-peg in May 2021, Kwon and Terraform Labs made a “secret agreement” with Jump, a trading shop that acted as a market maker for Terraform Labs, to step in and buy millions of dollars of UST off-chain to inflate the value and bring it back to parity with the dollar. Read the full article here

Bitcoin mining is interesting because there might not be that many jobs per bitcoin mine. But you create a lot of external jobs around that. In the film, you’ll see there’s tons of people who work in contracting and are in and out of the facility, truck drivers, repair technicians, people pouring concrete, security guards. Even just thinking about the facility, they plan on opening up a kitchen to feed the 40 workers there. That’s going to be like five to 10 new jobs. Read the full article here

On Feb. 15, Genesis received permission from a New York bankruptcy court to sell the nearly 36 million shares in GBTC, as well as additional shares in two Grayscale Ethereum trusts. At the time of the application, lawyers for the estate valued the Grayscale shares at a collective $1.6 billion – nearly $1.4 billion in GBTC, $165 million in Grayscale Ethereum Trust, and $38 million in Grayscale Ethereum Classic Trust. Read the full article here

Jurors agreed with the SEC that Kwon and, under his direction, Terraform Labs deceived everyday investors about the nature of the supposed algorithm that kept UST pegged to the U.S. dollar. Though Kwon insinuated that it could “automatically self-heal” in the event of a de-peg, it actually relied on continuous trading activity, including large-scale trading done by institutional investors. Read the full article here

The Core Devs are, of course, part of that community, but it’s also clear they have an outsized influence on the protocol relative to the other stakeholders. Further, what we are really talking about here are the various researchers who are paid by the Ethereum Foundation. — because, well, the Ethereum Foundation is one of the few organizations that pays people to focus on protocol research. Read the full article here

In court on Monday, prosecutors and defense teased upcoming testimony from Mango’s founder, Dafydd Durairaj. He spoke with a ransomware negotiator for assistance in the wake of Eisenberg’s trade, prosecutors said. This fact, they argued, could help the jury understand that Durairaj did not view the negotiations as an “arm’s-length” deal between two parties, but rather a hostage situation that could implode at any time. Read the full article here

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U.S. crypto-related stocks looked set to start the week on a positive note after bitcoin (BTC) climbed through $72,000 for the first time since mid-March as its reward halving draws closer. Coinbase (COIN), the only U.S. traded crypto exchange, gained 4.9% in pre-market trading, MicroStrategy (MSTR), the largest corporate holder of bitcoin, rose 10% and BlackRock’s bitcoin exchange-traded fund (IBIT), added around 6.5%. Bitcoin advanced 4.4% over 24 hours while the CoinDesk 20 Index, a measure of the broader crypto market, rose 4.1%. Other tokens rising on Monday included meme coins dogwifhat, which gained 18%, and pepe, which rose 10%.…