03-09-2024

Author

Fernando Fierro
September 03, 2024

Howdy folks,

⚖️🇳🇬 The money laundering case against Binance and Tigran Gambaryan resumed in Nigeria but faced delays due to unfulfilled court orders. Gambaryan’s deteriorating health remains a significant concern as he was seen in court with a cane, sparking a new bail application on medical grounds amid accusations of neglect by prison officials.

Despite calls from U.S. lawmakers, the Biden administration has yet to intervene, leaving Gambaryan's fate uncertain as legal challenges continue.

In other news:

📉🪙 Crypto funds experienced significant outflows totaling $305 million last week, driven by stronger-than-expected U.S. economic data, according to CoinShares’ report. This trend follows $543 million in net inflows the previous week, emphasizing how rate-cut speculation is shaking investor sentiment.

However, Solana, BNB, and Cardano-tied funds bucked this trend with positive inflows.

📉💬 Shayne Higdon's resignation as CEO of HBAR Foundation comes on the heels of the controversy surrounding a fake announcement about a BlackRock deal, which manipulated the HBAR price. Despite a 26% revenue increase from network fees and a 3% daily rebound, HBAR's price remains 91% down from its all-time high, struggling to stay above $0.05.

As we enter a typically bearish September, HBAR's future remains uncertain amid ongoing market volatility.

🚀📉 In August 2024, Solana soared second in NFT sales with $78.8 million, trailing Ethereum's $131 million and outpacing Bitcoin's $59 million. The NFT market saw a sharp decline overall, with a 41.69% drop in sales volume to $374.2 million and a 25.19% reduction in transactions.

Despite these figures, Solana's ability to maintain a high position underscores its capabilities, especially for affordable NFTs due to low fees and robust scalability.

DailyCoin Daily Meme

Crypto VC Investments Dip 22% in August, DeFi and AI Dominate

Crypto VC investments saw a 22% drop in funding in August, despite significant year-on-year growth.

How BSV Beats BTC: Craig Wright Resurfaces on X

Craig Wright re-emerges on social media after a Satoshi setback, pushing BSV as the real Bitcoin (BTC).

BitGo Korea Taps SK Telecom and Hana Financial as New Institutional Partners

BitGo Korea adds new institutional partners as the process of obtaining a local license is underway.

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DISCLAIMER: The content provided does not constitute financial advice. This newsletter is purely educational and should not be considered as investment advice or a recommendation to buy or sell any assets or make any financial decisions. Please exercise caution and do your own research.

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