U.S. Department of Justice FTX Decision [ Crypto Espresso 3.7.23 ]

Well it's the Tuesday news day and I'm Here Yeah pretty congested host Andrew but Enough about me this is crypto espresso Your teeny tiny daily shot of Caffeinated crypto headlines phlegm or No flim first up the US Department of Justice has appealed a decision by the FTX bankruptcy judge not to appoint an Independent examiner to investigate the Exchange's collapse Judge John Dorsey Has raised concerns that this could cost As much as 100 million dollars Especially considering that FTX Customers would end up footing the bill But trustee Andrew Vara disagrees Arguing that it's important to have an Independent investigation because of the Wider implications that ftx's collapse May have for the crypto industry the Judge believes that this would be a Wasteful exercise that doubles up on the Work being done by current management It's unclear how successful this appeal Will be a judge has already ruled that Meta birkin's nfts violated air misses Trademarks but that isn't enough for the Luxury fashion brand it was the art Artist behind them Mason Rothschild to Give them every penny that he's made Through selling the Collectibles and After that the company would like him to Stop selling them all together and Relinquish control of the Project's

Smart contract Hermes doesn't like the Fact that he makes 7.5 percent from the Resale of these nfts Rothschild's lawyer Rhett Millsaps is not impressed and they Aren't going down without a fight saying This latest filing is a gross overreach By airmes in an attempt to punish Mr Roth's child because they don't like his Art but what's new Mr Roth's child will Be responding in the court in due course Hugo Labs the makers of board ape Yacht Club have made 16.5 million dollars with The sale of 12-fold its first collection Of Bitcoin nfts each collectible has Been inscribed onto a single Satoshi as You might expect this project has a lot Of connections to the number 12 given How 144 blocks which is 12 multiplied by 12 are minted by the Bitcoin Network Every day overall 288 of these nfts were Sold with 12 served for contributors Future donations and philanthropic Efforts the top bid was 7.1159 Bitcoin And the lowest was 2.2501 which is about A hundred and sixty thousand dollars and Fifty thousand dollars when the auction Closed on March 6th unlike many ethereum Nfts which simply linked to jpegs on a Server the art on twelve folds ordinals Is actually inscribed on chain which Makes it immutable and finally Babel Finance has set out exactly how it wants To dig itself out of a 766 million Dollar hole which was caused by steep

Losses stemming from Risky trades it Wants to launch a Bitcoin and ether Collateralized stablecoin that will Maintain its dollar Peg through Arbitrage algorithmic stable coins have Well they've got they've got divided Opinions especially following the Dramatic collapse of UST and Luna last May bables hopes are centered on the Well hope stablecoin which can be used On decentralized finance platforms like Hope swap which is a decentralized Exchange modeled on uni Swap and a Peer-to-peer lending platform ever since Tara's collapse governments have been Pushing for stable coins to be backed 100 by cash or near cash Investments and I for one are very bullish on Hope but Specifically the hope that you will like This video subscribe to our YouTube Channel and click on that little bell Icon to get buzzed whenever a new crypto Espresso video goes live and what did You think about today's episode do you Like when my nose is all clogged up like This you sicko anyway let me know in Those comments below because I read them And I tend to take them far too Seriously curious for more info on Today's headlines or crypto in general Well just ask Alex in that description Below Alex is always a great resource For all things web 3 and the metaverse And that amount does it for today again

I've been your host Andrew these have Been your headlines and we'll see all of Your beautiful and Shining faces Tomorrow

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