FreeCryptoCurrency.Me

The controversial Arkham Intel Exchange approved its first ever bounty hunt on Monday, after two crypto sleuths found evidence of crypto wallets belonging to Do Kwon.

The platform had posted a bounty requesting more information on the former Terraform Labs CEO and now international fugitive. An anonymous blockchain sleuth and a pseudonymous one who goes by ErgoBTC won a payout of 9,519.26 ARKHM, worth about $4,950, for successfully completing the bounty and gaining approval from the platform. 

Terraform Labs saw its stablecoin TerraUSD and cryptocurrency Luna collapse in May of 2022 in one of the largest collapses ever in the industry. The Securities and Exchange Commission charged Do Kwon with securities violations for allegedly selling unregistered transactions of crypto asset securities, failing to provide full and truthful disclosures and repeating misleading information to investors.

Arkham Intel Exchange

Launched on July 10, Arkham Intel Exchange incentivizes users to find on-chain data via a bounty system. Anyone can seek information by posting a bounty, though the submissions must be approved by the platform.

If successful, bounty hunters earn the reward, and whoever posted the bounty keeps the information for 90 days before it’s disseminated to the Arkham community. 

The platform has stoked controversy in the crypto community, with some critics arguing that the platform could be used to dox innocent people.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

A federal judge will soon decide whether or not former FTX CEO Sam Bankman-Fried should be banned from talking publicly about his case after the U.S. Department of Justice accused him of leaking the private diary of a former colleague to the media. 

In an order filed by the U.S. Attorney’s Office for the Southern District of New York on Monday, parties would not be allowed to talk about the case, and Bankman-Fried could not cause others, including family members, to make statements on his behalf. 

“The parties in this case, their attorneys, and their agents are prohibited from publicly disseminating or discussing with any public communications media anything about the case which could interfere with a fair trial, including statements about the identity, testimony, or credibility of prospective witnesses, information that has not been deemed admissible at trial, and statements intended to influence public opinion regarding the merits of this case,” the proposed order states. 

Counsel for Bankman-Fried agreed that the FTX founder would not talk publicly but said it should be applied to “all parties and witnesses” including FTX, Alameda Research and current FTX CEO John Ray, according to a letter filed over the weekend in the U.S. District Court for the Southern District of New York. 

Notably, the order would not ban Bankman-Fried from asserting his innocence. 

The order would need to be approved by U.S. District Judge Lewis Kaplan and will be discussed in court on Wednesday. 

The diary 

The proposed order comes just days after the Justice Department accused Bankman-Fried of leaking the private diary of Caroline Ellison to the New York Times in an apparent attempt to discredit her. Ellison ran FTX’s sister trading company Alameda Research and pleaded guilty to multiple charges last year. 

Bankman-Fried’s counsel said he “did nothing wrong” in a letter filed on July 22. 

“A reporter contacted Mr. Bankman-Fried and asked if he wanted to respond to an article about Ms. Ellison that had been in process for months, for which the reporter already had other sources, and which was about to be published,” the letter stated.

Mr. Bankman-Fried spoke to the reporter and shared certain documents that he had obtained prior to his arrest, and that were not produced in discovery, in an effort to give his side of the story about topics that have already been reported in the media,” it continued.

Bankman-Fried faces over 100 years in prison if he is convicted of a slew of charges, including fraud over allegations that he and other FTX executives used billions in customer assets to make their own failed investments. FTX filed for bankruptcy late last year. 

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The new law describes a legal framework for a central bank digital token

Anthony Scaramucci, founder of the investment firm SkyBridge, has an offer for tech shareholders that might need some cash.

“We at SkyBridge are buying secondary shares from early investors and former employees of tech unicorns,” Scaramucci wrote on Twitter Monday. “If you own shares in a tech unicorn and need liquidity, please DM me and I will connect you with someone on our team.”

The move could be related to SkyBridge’s $50 million recovery fund launched in February. The “Uniform Recovery Fund” is aiming to acquire shares from distressed investors of up to 15 firms, Reuters first reported. 

SkyBridge did not immediately respond to a request for comment from The Block.

In July of 2022, SkyBridge established a web3-focused investment fund that would offer a mix of traditional venture and growth equity. 

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Oil and gas companies are keen to use gas that would normally be flared off to run bitcoin mining operations. But environmentalists claim the practice merely perpetuates the use of fossil fuels.

The EU agency is consulting on new MiCA rules that mean “significant” tokens are centrally supervised with extra capital requirements

The price of subreddit community tokens Moon and Brick soared last week amid a massive increase in trading volume. Since then, however, the excitement seems to have subsided with the price of each token down by more than 20% on Monday.

The Moon community token for Reddit’s r/CryptoCurrency community, which boasts more than 6.5 million members, skyrocketed to nearly $0.58 on July 19 from roughly $0.09 on July 16 as trading platform Crypto.com announced it had listed the token. Trading volume also soared, reaching about $3 million on Wednesday.

Millions of Reddit NFT avatars have been minted since the platform made them available, and the collectibles have been acquired by more than 14 million “unique holders” while generating more than $32 million in sales, according to a Dune analytics dashboard.

Fortnite community token fizzles

The Fortnite subreddit community token called Brick, which according to Crypto.com “is distributed as a reward” to those who contribute to r/Fortnite, also jumped in price last week, rising precipitously to about $0.10 on July 19 from $0.01 on July 17, according to CoinGecko. 

Crypto.com published a note early Monday commenting on the “surge” both tokens experienced in recent days. But volume and price for both tokens has crumbled over the past 24 hours.

Moon was trading at $0.33 at 12:19 p.m. ET, while Brick which was just under $0.05, according to CoinGecko data.

Volume for Moon shrank from more than $1 million on July 23 to about $200,000 so far on Monday. In the case of Brick, volume declined from about $210,000 on July 23 to just $26,000 so far on Monday.

“Markets speculated that the recent change in Reddit’s Terms of Service … was likely the catalyst for the price increases,” said Crypto.com on Monday. Reddit appeared to change its Terms of Service on July 16 to say that users could trade community tokens and avatars.

 

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Sam Altman’s identity-verifying Worldcoin Orb is available worldwide as the network launched on Monday.