Rockets to the Moon: Bitcoin Breaks $31K, Shakes Off Slumps
• Bitcoin breaks $31k as it continues to shake off recent slumps.
• Supreme Court rules in favor of Coinbase, issuing an order to move user lawsuit into arbitration.
• Binance’s legal woes intensify as Brazil lawmaker seeks to question general manager.
Bitcoin Surpasses $31K
Bitcoin has broken the $31k mark, continuing its recovery from recent slumps. This surge has been attributed to growing institutional investment and increasing mainstream adoption of cryptocurrencies.
Supreme Court Rules In Favor Of Coinbase
The US Supreme Court has ruled in favor of cryptocurrency exchange Coinbase, issuing an order to move a user lawsuit against the company into arbitration. This ruling is seen as a victory for the crypto industry and could set a precedent for future legal disputes involving digital assets.
FTX Files Complaint To Retrieve Funds From Bankman-Fried
Cryptocurrency derivatives exchange FTX has filed a complaint against ‘super-networker’ Stanislav Bankman-Fried for failing to return over $700 million worth of funds that were courted for connections within the blockchain industry.
Stably Pauses Withdrawals And Minting After Prime Trust Halts Deposits
Crypto asset platform Stably has paused withdrawals and minting after Prime Trust halted deposits on June 21st due to potential fraud on their part. Stably customers are advised not to send any coins or tokens until further notice while investigations take place.
Binance’s Legal Woes Intensify As Brazil Lawmaker Seeks To Question General Manager
Binance is facing more legal troubles as a Brazilian lawmaker seeks to question their general manager over alleged money laundering activities that took place within their exchange platform. The formal investigation could have major ramifications for the crypto industry if proven true.