Features Crypto News by Thebittimes.Com

Over the past few weeks, Solana has been dominated by a series of quick celebrity-endorsed cash grabs, in a memecoin frenzy that refuses to run out of steam. Kicked off by WIF, BONK, and a variety of political-themed tokens — which are generally down from their peaks in early spring — Solana ’s meme coin launchpad pump.fun is still seeing plenty of action, raking in more fees than the entire Ethereum network earlier this week. BREAKING: @pumpdotfun FLIPS @ethereum IN 24H REVENUE pic.twitter.com/IoVHqvl55m — DEGEN NEWS (@DegenerateNews) July 2, 2024 Read more: $10M accidentally burned as Solana memecoin craze continues More recently, the focus has been on so-called ‘celebcoins,’ which may or may not be endorsed by their namesake. Caitlyn Jenner’s JENNER token began the trend before Iggy Azalea’s MOTHER reached a market cap of over $100 million . Other tokens were promoted via apparent hacks of celebrity social media accounts. All this activity has eclipsed Sola...

The debtors-in-possession of FTX and Alameda Research have reportedly been responsible for the bulk of outflows from Grayscale Bitcoin Trust ( GBTC ), with sources familiar to CoinDesk detailing that FTX sold approximately 22 million shares. This would account for around $1 billion in the total outflows from GBTC so far and would account for the entirety of FTX/Alameda Research’s GBTC position. Alameda Research was one of several now-bankrupt trading firms, including Three Arrows Capital, that attempted to arbitrage the difference between the GBTC market value and the value of the assets it holds. The difficulty in successfully arbitraging this difference while Grayscale’s redemption window was closed may have contributed to the failure of some of these firms. FTX debtors-in-possession also chose to dismiss their lawsuit against Grayscale. According to Arkham data, at 22:21 UTC+8, Grayscale transferred 19,260 BTC to Coinbase Prime Deposit. https://t.co/79xyMqJylW ...

The cryptocurrency realm has been flooded with talks of FTX , Sam Bankman-Fried, Alameda , and the fall of SBF ’s empire. The FTX empire went into a death spiral after it was hit with liquidity crunches. Following the ongoing troubles, FTX filed for bankruptcy, and SBF stepped down from the CEO position. However, the trouble seems to be looping back on Bankman-Fried, as new data reveals interesting things about Alameda Research. According to WSJ, the trading firm reportedly piled on cryptocurrency tokens ahead of its listing on the FTX cryptocurrency exchange. The data is as per the Analysis of Argus, a blockchain analytics platform. JUST IN: Alameda Research purchased crypto tokens before listing them on FTX, WSJ reports. — Watcher.Guru (@WatcherGuru) November 14, 2022 Was Alameda selling after the listing to bag profits? As per the details from Argus, Alameda was holding $60 million worth of 18 different coins. These coins were announced by FTX to be l...