Every week, I will be collecting news stories / opinion pieces that I have found to be interesting in the crypto world and I think are important to know. With the world of crypto moving so quickly I've condensing these stories down into one easily digestible article. All the article and images are taken from a news source that I like to use and an alternative to CoinTelegraph called Crypto Briefing.
There is a lot of news that came out over the last seven days, So let's get started!
Mt. Gox moves 2,500 Bitcoin as price approaches $89,000
A Mt. Gox-labeled wallet just transferred 2,500 Bitcoin, worth around $222 million, to an unidentified address starting with “1PQZw2” in the last 30 minutes, according to data tracked by Arkham Intelligence. The new transaction was made amid Bitcoin’s surge to $89,000, CoinGecko data shows.
At the time the article was written, the defunct crypto exchange still holds around 44,378 BTC in its wallets, valued at approximately $3 billion. To read more about this topic, click here.
Prediction markets now give Bitcoin a 52% chance of reaching $100k in 2024
Prediction market platform Kalshi has recently priced in a 52% chance that Bitcoin will reach $100,000 by the end of 2024.
Kalshi also shows a 77% probability of Bitcoin hitting $90,000 this year, reflecting a surge in optimism that Bitcoin’s current rally could push it to unprecedented highs. Do you agree or disagree with this prediction? You can read more by clicking here.
FTX blames Binance and CZ for collapse, seeks $1.7 billion in a new lawsuit
FTX has brought a lawsuit against Binance and its founder Changpeng Zhao, seeking to recover around $1.7 billion, which it claims was fraudulently transferred during a share repurchase deal. The bankrupt entity also accuses CZ of posting misleading tweets that contributed to FTX’s collapse.
In a filing dated November 10, 2024, FTX claims that the stock repurchase agreement in July 2021 between Binance and Sam Bankman-Fried, the co-founder of FTX, was fraudulent. To read more about the topic, click here.
MicroStrategy acquires another 27,200 Bitcoin, holdings now worth $23 million
MicroStrategy, the largest corporate Bitcoin holder, announced Monday it had acquired 27,200 Bitcoin between October 31 and November 10, 2024, paying an average price of $74,463 per coin. The latest purchase brings its total Bitcoin stash to 279,420 BTC, valued at approximately $23 billion at current prices. Click here to read more.
Chinese official get life sentence for selling state secrets to pay crypto debts
A Chinese public official has been sentenced to life imprisonment for selling state secrets to foreign entities to cover crypto investment losses, China’s Ministry of State Security announced on November 8.
The official, named Wang, reportedly faced substantial debts incurred from unsuccessful crypto investments. In a desperate bid to alleviate his financial burden, he turned to an online forum seeking part-time work, inadvertently revealing his status as a civil servant. To read more about the topic, click here.
Hamster Kombat loses 259 million players in less than 3 months
Hamster Kombat, a tap-to-earn game on Telegram, has lost 259 million users since August, with its active monthly player base dropping 86% to 41 million as of November 5.
The game’s decline coincides with the emergence of Paws, a new Telegram Mini App that attracted 20.5 million users in its first eight days. To read more about the decline, click here.
Justin Sun, Andre Cronje claims Binance charges zero listing fees while Coinbase demand millions
Tron founder Justin Sun and Fantom Network founder Andre Cronje asserted that Binance did not charge fees for listing their tokens. In contrast, Coinbase requested millions of dollars for similar services, which contradicts Coinbase CEO Brian Armstrong’s public statement that listings are free.
Controversy surrounding listing fees on Coinbase and Binance stemmed from a post from Moonrock Capital CEO Simon Dedic. Dedic expressed frustration with the practices of crypto exchanges, specifically Binance. Click here to read more.
That is my weekly roundup of the interesting news coming from the crypto world. Which do you think what the most interesting topic and why? If you liked the content, please consider following me and tipping the article.
Also if you are on Twitter, why not give me a follow and start some conversations? You can find me here - https://x.com/0xJonnyDee.
Until next time, stay classy crypto world!
