Hopes for Celsius withdrawals to reopen, Do Kwon questions SBF involvement in LUNA crash

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The biggest news in the Cryptoverse on Dec. 7 included the US Banking Commission claiming the SBF “must answer” on FTX, Do Kwon’s question about SBF’s involvement in the collapse of Terra, Celsius Including the dismissal of the EthereumMAX lawsuit, which gives hope of withdrawal.

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US Senate Banking Committee December 7 letter He told Sam Bankman-Fried that he will have to answer the cryptocurrency company’s failures at a public hearing scheduled for Dec. 14.

Commission chair Sherrod Brown wrote that if the SBF did not honor the invitation, a subpoena would be issued.

Senator Brown stressed that SBF’s position at FTX Trading Ltd and Alameda Research must testify and respond to the failures of both companies.

Terra founder Do Kwon questioned whether Genesis Trading provided Sam Bankman-Fried and Alameda with $1 billion in UST as “peg attack ammunition.”

In a Dec. 8 Twitter thread, Kwon asked whether Genesis Trading’s purchase of $1 billion in UST from Luna Foundation Guard was due to its “interest in joining the Terra DeFi ecosystem.” asked. But he believes the lender gave these his USTs to Alameda to fund the peg attack.

The Republic of El Salvador has announced that it has completed a second round of repurchases of government bonds maturing in 2023 and 2025.

according to press release The country, shared by President Nayib Bukele, bought $74 million worth of government bonds on December 8.

Celsius discussed resuming withdrawals for certain customers at its latest public hearing on December 7.

The court has approved the return of “pure” and “transferred” custody account assets below certain legal thresholds, as well as digital assets not supported by the platform.

The USDC stablecoin may have indirect access to the Federal Reserve’s risk-free liability as its partner, BlackRock, plans to apply for the Federal Reserve’s Reserve Repo (RRP) program. there is.

Circle CFO Jeremy Fox-Jean recently announced A stablecoin issuer has started investing in the Circle Reserve Fund.

The Circle Reserve Fund is managed by BlackRock, who accredited Circle as an indirect investor in government money market funds. The reserve consists of 20% cash held in Bank of New York Mellon and 90% short-term US Treasuries.

California District Judge Michael Fitzgerald It has filed a lawsuit filed against Kim Kardashian and Floyd Mayweather Jr., saying it was unclear whether the plaintiffs had seen Ethereum Max promotional materials from celebrities.

In early October, Kardashian agreed to a $1.26 million settlement with the U.S. Securities and Exchange Commission (SEC) over allegations that it promoted EMAX tokens to Instagram followers without disclosing them as paid ads.

research highlights

A look at Bitcoin and Ethereum derivatives shows that they have been hit by the FTX fallout, with data analyzed by CryptoSlate showing that over 160,000 BTC have been unwound since the beginning of October.

The data shows that about $3 billion worth of futures contracts were settled in two months.

Cryptocurrency derivatives are an important indicator of overall market health. It also serves as a guide as to where the price will go next as it shows how leveraged the market is.

Bitcoin futures open interest shows a sharp decline in the number of funds allocated to open futures contracts, now back to levels recorded in July 2022.

crypto market

Over the past 24 hours, Bitcoin (BTC) rose +0.33% to trade at $17,001 while Ethereum (ETH) rose +1.11% to trade at $1,288.

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