Coindesk

Bankrupt crypto exchange FTX has said it should not have to pay a massive $1.53 billion recovery claim by Three Arrows Capital, arguing in a recent court filing that the crypto hedge fund’s “own risky strategy caused its collapse, and its own account activity — not any action by — resulted in a significant decline in the “value” associated with the 3AC Accounts in June 2022.”“3AC bet big that cryptocurrency prices would increase using cash it did not have and, when prices instead plummeted, 3AC proceeded to liquidate the risky bets it had placed and withdraw assets from ,” FTX’s lawyers wrote in the filing.The Delaware court overseeing FTX’s bankruptcy gave 3AC’s liquidators permission to expand their claim earlier...

Cryptocurrencies gave up nearly all of their overnight bounce on during midday U.S. hours on Monday, with bitcoin BTC sliding back below $100,000 on news reports that Iran was preparing to attack U.S. bases in the Middle East.Other major cryptos also erased gains: Ethereum's ether ETH fell below $2,200, while XRP XRP plunged back below the $2 level.At press time, bitcoin had returned to modestly above the $100,000 mark. The Sunday low in prices was at roughly $98,500.Axios reported that the Trump administration was preparing for Iran to attack U.S. bases in the Gulf in retaliation for the U.S. military bombarding three Iranian nuclear sites over the weekend. The report noted the president as imminently set to meet with his...

BNB saw a modest gain of 2% in the past 24 hours, pushing past $627 before settling with firm support at $616.55.The move comes as the BNB Chain, the blockchain tied to BNB, saw its daily transactions nearly double to 17.6 million since mid-May, according to data from DeFiLlama.Crypto markets have been jittery amid escalating geopolitical tensions and shifting trade policies between major economies.One factor helping to buoy sentiment is the upcoming Maxwell hard fork, scheduled for June 30. If successful, it will reduce block times from 1.5 seconds to 0.75 seconds, potentially making the network more competitive with high-speed chains.If momentum continues, BNB may attempt to reclaim the $650 level and push toward $700. But much will depend on...

Trump Media and Technology Group (DJT), the parent company of the social media platform Truth Social, is planning a $400 million share buyback program.President Donald Trump's media firm said that the repurchase would be funded separately from and not alter its bitcoin treasury strategy.The buyback will be conducted through open market transactions, and the repurchased shares will be retired by the company, Trump Media announced on Monday."Since Trump Media now has approximately $3 billion on its balance sheet, we have the flexibility to take actions like this which support strong shareholder returns, as we continue exploring further strategic opportunities," CEO Devin Nunes said.Trump Media recently raised more than $2 billion from around 50 institutional investors to create a BTC treasury,...

Grant Cardone, the well-known real estate investor, has announced that his firm, Cardone Capital, has added 1,000 BTC to its balance sheet."CardoneCapital adds 1,000 BTC to balance sheet becoming first ever real estate/BTC company integrated with full BTC strategy combining the two best in class assets," said Cardone in an X post.At current market prices, the purchase is worth just over $100 million. If Cardone Capital were a publicly traded company, this acquisition would place it among the top 30 corporate bitcoin holders globally, ranking near the 29th largest, according to bitcointreasuries. Cardone went on to reveal that Cardone Capital currently holds 14,200 residential units and over half a million square feet of Class A office space. The firm expects...