Federal authorities are challenging the assertions made by Sam
Bankman-Fried, the former CEO of FTX, that the technology provided to him
in prison is inadequate for preparing his defense. This development emerged
from a legal document filed on Tuesday in response to a recent request by
Bankman-Fried’s legal team.
Two ETF analysts at Bloomberg Intelligence, Eric Balchunas and James
Seyffart, have revised their predictions for the approval of a spot Bitcoin
exchange-traded fund (ETF), attributing the increased odds to a recent
unanimous legal victory by Grayscale against the Securities and Exchange
Commission (SEC). On August 30, Balchunas announced that the likelihood of
approval has been raised to 75%, up from an earlier 65%.
A U.S. District Judge has cleared Uniswap, dismissing a class-action
lawsuit that accused the platform, its developers, and investors of
violating securities laws. The lawsuit, initiated by trader Nessa Risley,
alleged that Uniswap acted as an unregistered broker and dealer,
facilitating the trading of scam tokens such as Matrix Samurai, Rocket
Bunny, and Alphawolf Finance.
August was a turbulent month for the digital asset market, as total assets
under management (AUM) experienced a significant downturn, falling to $29.7
billion—a 12.7% decrease compared to July. Market volatility and a steep
drop in Bitcoin’s value to $25,375 (according to CCCAGG) on August 17th
exacerbated this decline.
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