601: BlockFi's Battle, Bittrex's Bankruptcy, and Twitter's Crypto Moves

Overnighters,

Episode 601:
FTX, 3AC Contest BlockFi Strategy
Bittrex’s Path to Bankruptcy
Twitter: The State of Social Crypto Media
and More

The TL;DL

FTX, 3AC Contest BlockFi Strategy-The cryptocurrency lender BlockFi faces opposition from FTX, Three Arrows Capital, and the SEC over its proposed bankruptcy plans. The dispute involves transactions amounting to over a billion dollars, with implications for the broader crypto industry.

Bittrex’s Path to Bankruptcy-Bittrex, a cryptocurrency exchange, was accused of breaking several Florida laws before declaring bankruptcy. The case underscores the tension between crypto platforms and regulatory bodies, and raises questions about the future of cryptocurrency exchanges in the U.S.

EU’s Metaverse Strategy-The European Commission is developing a strategy for the metaverse, addressing policy issues such as property rights, technological standards, and privacy. The strategy is expected to have implications for the cryptocurrency sector, as blockchain and cryptocurrencies are likely to be key technologies underpinning the metaverse.

Twitter: The State of Social Crypto Media-Twitter has gained regulatory approval to function as a money transmitter, paving the way for expansion into payments and other financial services. Meanwhile, Bluesky, a decentralized alternative to Twitter, has raised $8 million in a seed round and is introducing paid services.

Israel's Crypto Tax Cuts-Israel is making significant changes to its tax laws, offering tax cuts for cryptocurrency transactions. This move is expected to encourage crypto investments and innovation within the country, making it a more attractive hub for crypto enthusiasts and businesses.

IMF Tax Plan for Crypto-The International Monetary Fund is proposing a new tax plan for cryptocurrencies. The plan aims to regulate the rapidly growing crypto market and ensure fair taxation, but its implications for global crypto investors and businesses are yet to be fully understood.

Crypto Overnighter Podcast (7/6/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

Email: nick@cryptoovernighter.com
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Twitter: https://twitter.com/CryptoCorvus1