Cryptocurrency seizures have given the US ownership over a massive stash of more than 200 bitcoins, Morgan Creek Capital partner Dr. Sachin Jaitly has claimed. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
How much Bitcoin does the United States own?
📍According to research by Dr. Sachin Jaitly, the United States holds about $5.000 billion worth of Bitcoin. Jaitly told Forbes that the US government owns more bitcoins than any other government in the world.
Jaitly, who is a partner at Morgan Creek Capital, said 207.189 BTC are held by the US government, which has been holding on to the cryptocurrency as the money supply and fears of inflation increase.
The bitcoins held by the US government come from seizures made by its federal agencies in various operations. In February of last year, the country's Department of Justice seized more than 94.000 BTC related to the Bitfinex hack, which occurred in 2016.
Lawsuit against Elon Musk over his support for Dogecoin continues
📍The billionaire owner of Twitter is accused of manipulating the price of Dogecoin (DOGE) for his own benefit. The lawsuit against Musk for allegedly promoting Dogecoin continues. Recently, the group of investors who allege that Musk has been using their image to promote Dogecoin and mislead investors to drive up the price of the cryptocurrency, has filed new accusations against the billionaire.
According to one judicial presentationMusk sold 1,4 million DOGE, valued at around $124 million, in early April, by which time a change had been made to Twitter's logo. As reported by this outlet, the social network's logo was temporarily replaced by the logo of the meme cryptocurrency, which sent DOGE's price soaring to $0,10 per token. Investors claim that the Dogecoin wallet addresses from which the cryptocurrencies were sold for profit-taking belong to Musk, although this has been denied by his lawyer Alex Spiro, who said that the plaintiffs are wrong.
Musk was class action lawsuit last year by a group of investors who claim to have been tricked by the billionaire owner of Twitter into investing in Dogecoin. The lawsuit filed against Musk amounts to $258.000 billion.
Despite his constant support towards the development of Dogecoin, he recently commented that I did not advise investing in this cryptocurrency. Musk's statements caused the price of DOGE to fall on the market.
“The Goose” sells for more than $6 million
📍One of the NFTs belonging to Three Arrows Capital's art collection sold for $6,2 million. Last week, Sotheby's sold the digital artwork "The Goose" by artist Dimitri Cherniak for $6,2 million at an auction in New York City (United States).
The artwork was part of the “Grails” NFT collection from failed cryptocurrency fund Three Arrows Capital (3AC).
During the auction, the second organized by Sotheby's to offer pieces from the 3AC crypto collection, other important NFT works of art were also sold, such as CryptoPunks #291 and #8950 and Autoglyph #218, among others.
Binance US reaches agreement with the SEC
📍Binance's US subsidiary will not freeze assets. After reaching an agreement with the SEC, Binance US will make a series of regulatory adjustments to continue providing its services in the country. The company has committed to keeping the assets of its US clients under the control and management of its staff, so that Binance and its CEO, Changpeng Zhao, do not have access to them.
Binance US will also strengthen its security levels and limit its expenses, committing to ensuring transparency, Forbes said. However, despite the agreement reached between both parties, it is likely that the cryptocurrency company will face a long legal process against the securities regulator.
The SEC demanded to Binance a few weeks ago, alleging that the cryptocurrency company had violated securities laws.
Continue reading: Block launches beta of Bitkey, a new Bitcoin wallet to facilitate self-custody
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