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Author: Alex Adelman
Justin Sun, founder of the Tron blockchain, says he remains a diplomat representing Grenada, despite local reports earlier this week saying he no longer holds that status.
The reports are “not true,” Sun told The Block, while sharing a screenshot dated Friday that shows he has an active profile on the World Trade Organization (WTO)’s internal registration website as the ambassador for Grenada.
Sun also shared a screenshot of WTO’s “internal terminal” that lists him as Grenada’s ambassador and permanent representative to the WTO.
Earlier this week, the Grenada Broadcasting Network, jointly owned by the Caribbean Communications Network and the government, reported that Sun had been stripped of his status as ambassador sometime after elections held in June 2022, when the New National Party, which had granted Sun the position, was ousted by the National Democratic Congress.
Sun was appointed as WTO ambassador by the government of Grenada in December 2021. Since his appointment, he has styled himself “His Excellency” on his social media accounts. He still maintains the “H.E.” label on his verified personal Twitter account and his diplomatic Twitter account.
The WTO and the government of Grenada did not immediately respond to The Block’s requests for comment.
Sun and Tron were sued by the U.S. Securities and Exchange Commission last week for offering and selling two unregistered crypto tokens, Tronix (TRX) and BitTorrent (BTT). The regulator also alleged that they manipulated the prices of TRX between April 2018 and February 2019.
© 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.
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Author: Yogita Khatri
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Author: Omkar Godbole
FTX’s counsel proposed an order for Deltec International Group (DIG), a bank known for its partnership with Tether, to turn over the assets from a promissory note linked to Alameda Research and former FTX executive Ryan Salame.
The motion was entered in the U.S. bankruptcy court for the district of Delaware on April 29.
Salame, who was the co-CEO for FTX Digital Markets, first executed a promissory note that agreed to pay debtor Alameda Research the principal amount of $50 million plus interest. This note was later transferred from an account in Alameda’s name to DIG, according to the filing. Salame is listed as director of Norton Hall and executed and delivered his signature page on the note.
Despite the $50 million promissory note being between Norton Hall and DIG. Norton Hall told the debtors that Salame is not and has never been a director at the company and it did not authorize the DIG Promissory Note.
“The Debtors have been in discussions, and reached agreement, with DIG, Norton Hall and Ryan Salame regarding the repayment of the DIG Promissory Note and the related extinguishment of the DIG Promissory Note and the Salame Promissory Note,” the filing said.
The amount the debtors are expected to receive if the motion is approved is not disclosed. A hearing on the order is set for April 12.
© 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.
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Author: Kari McMahon
Episode 31 of Season 5 of The Scoop was recorded at Paris Blockchain Week with The Block’s Frank Chaparro and Moody’s SVP and Head of DeFi and Digital Asset Analytics Vincent Gusdorf.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Feedback and revision requests can be sent to podcast@theblockcrypto.com.
In this episode — recorded at Paris Blockchain Week 2023 — Vincent Gusdorf, SVP and head of DeFi and digital asset analytics at Moody’s, breaks down why his company is betting on blockchain technology to transform finance, and how Moody’s is thinking about the credit qualities of different stablecoins.
During this episode, Chaparro and Gusdorf also discuss:
This episode is brought to you by our sponsors Circle, Railgun, Flare Network
About Circle
Circle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com/Scoop to learn more.
About Railgun
Railgun is a private DeFi solution on Ethereum, BSC, Arbitrum and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let Railgun’s zero-knowledge cryptography encrypt your address, balance and transaction history. You can also bring privacy to your project with Railgun SDK, and be sure to check out Railgun with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.
About Flare
Flare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.Network.
© 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.
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Author: Davis Quinton and Frank Chaparro
Donald Trump trading card NFT sales have spiked more than 500% in the last 24 hours, following news that the former president was indicted by a New York grand jury.
Thursday night, when the news hit, more than $50,000 worth of the Trump caricature-emblazoned digital cards changed hands, according to CryptoSlam data. About $184,000 of the cards have been sold in the last 24 hours. The floor price currently stands at 0.58 ETH, or about $1,000, according to OpenSea.
While there seems to be a buzz of market activity, trading volume has historically been a lot higher for the former president-themed collection. In December, the 45,000 item NFT collection sold out within hours, with more than $3.9 million in sales on the day. Since then, there have been days with as much as $469,000 worth of NFTs changing hands.
Buying an NFT automatically entered the purchaser into a sweepstake, with prizes including a group cocktail party at Mar-A-Lago, a dinner in Miami or a golfing trip with the former president, or a group Zoom call. Purchasing 45 or more NFTs would “guarantee” purchasers an invite to a gala dinner with Trump in South Florida, the initial announcement said.
The mint may have netted Trump almost $4.5 million. Creator fees set by OpenSea also give a 10% royalty on secondary sales, meaning the project will already have accrued upward of $100,000 from trades to date. The highest sale to date was a black and white rendered image of Trump with a Santa hat on, which sold for 23.99 ETH, or $42,900.
As for the indictment, the exact charges are still unknown because it is under seal, but they relate to a hush money payment Trump’s former lawyer Michael Cohen made to Stormy Daniels before the 2016 election.
Trump is expected to appear in person for his arraignment next week, which may be as early as Tuesday. That’s the first time the charges against him will be read in open court.
Read more: The art of the drop: Donald Trump NFTs may prove the utility of utility
© 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.
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Author: Lucy Harley-McKeown
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Author: Shaurya Malwa
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Author: Sam Reynolds
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Author: Shaurya Malwa
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Author: Sam Reynolds, James Rubin
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