BULLISH BITCOIN WEEK: THE NEWS RECAP

1ATH.Studio
3 min readAug 3, 2023

MicroStrategy takes the lead in a bullish week for bitcoin, as regulatory clamp down continues to loom for cryptocurrency.

Ethereum Clocks 8years; Crypto Community Celebrates

Ethereum, the world’s second largest Cryptocurrency by market cap has clocked Eight years of its existence in the Defi space.

The entire cryptocurrency community has come together to celebrate this great achievement with Vitalik Buterin and other Crypto faithfuls. Ethereum was launched on July 30, 2015, when former Ethereum foundation CCO, Stephan Tual officially announced the roll out of the network offering.

Republican Congressman Faces Charges in ‘Nigerian Prince’ Crypto Scam

US republican lawmaker, George Santos has been charged with a crypto Email scam lawsuit classically known as “The Nigerian Prince” Email scam.

Santos and two others allegedly approached a wealthy investor with a proposal to help unfreeze some funds from a polish investor, for a share of reward. The Charges brought against Santos encompasses 13 felonies including allegations of misrepresentation of assets. The lawmaker could face 20years behind bars of found guilty.

FTX Confirms Plan to Relaunch Exchange

FTX, the embattled cryptocurrency exchange, has confirmed its plan to relaunch its platform following the infamous crash.

The bankruptcy administrators recently filed a proposition regarding the restart of FTX.com but the exchange will serve offshore clients.

MicroStrategy Returns to Profitability as Bitcoin Holdings Surge

MicroStrategy, the software firm famous for its bullish crypto bets, acquired an additional 467 bitcoins as it released its second-quarter earnings on Tuesday.

That brings the company’s total holding to 152,800 bitcoins, currently worth just under $4.5 billion, according to CoinGecko.

“In July, MicroStrategy acquired an additional 467 bitcoin for $14.4 million,” Saylor said on Twitter. That followed the company reporting in June, the purchase of 12,333 bitcoin, according to a Securities and Exchange Commission filing.

BlackRock Under Investigation for Secret Chinese Investments

The US Government has Launched an investigation into Blackrock’s Chinese investments, stating that Americans Retirement funds are at risk.

BlackRock has responded, stating that Majority of their investments in China are done through clients’ index fund.

Kenyan Government Suspends Worldcoin Activity

The Kenyan government has decided to suspend all activity related to Worldcoin, a cryptocurrency project that has been making headlines recently.

The suspension was announced on August 2, 2023, amid growing concerns about the legitimacy and regulatory compliance of the project.

SBF Denies Witness Tampering Allegations

Lawyers for Sam Bankman-Fried (SBF) have denied that he attempted to intimidate witnesses in his criminal trial by talking to New York Times reporters. SBF is charged with market manipulation and fraud, and the prosecution is seeking to revoke his bail.

In a letter to the court, SBF’s lawyers argued that his contact with reporters was not an attempt to intimidate witnesses, but rather a “proper exercise of his rights to make fair comment on an article already in progress.

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