Business
Genesis agrees to pay $175 million to FTX, aiming to smooth the path to bankruptcy confirmation and eliminate risks of prolonged litigation.
Dubai’s VARA fines OPNX, founded by former 3AC leaders Kyle Davies and Su Zhu for marketing violations.
DeFi
Shibarium’s launch faces immediate challenges with pending transactions and locked funds, raising questions about the network’s immediate future.
The government argued that Ellison’s personal notes are not inadmissible hearsay because they were ways to keep track of issues that could implicate the conspiracy’s success.
Silvergate Bank’s CEO and two other key executives will leave their roles amid the firm’s ongoing liquidation proceedings.
The Chairman of the House Financial Services Committee questioned the regulators on Prometheum’s unique approval and raised concerns over the “national security risks” posed by the firm’s reported ties to the Chinese Communist Party.
The crypto exchange plans to shut down its payments service Binance Connect on Aug. 16.
Bitcoin
Bitcoin as a lifeline in struggling economies: Anita Posch speaks about how the cryptocurrency is more than an investment, serving as a tool of liberation in countries facing authoritarianism and inflation.
The bankrupt firm estimated liabilities between $100 million and $500 million, with the firm’s top five unsecured creditors having claims of around $105 million.
Tech
The new Layer 2 blockchain will be a first of its kind chain dedicated to Web3 gaming products building on Ethereum.
