Episode Details

13th Nov: Crypto & Coffee at 8
🚀 Bitcoin Difficulty hits record 🔥FTX lawsuit against Bybit 🚨 India’s Crypto petition 🥶 Binance Freezes $11.8 Million

🚀 Yesterday ie 12th Nov, Bitcoin’s difficulty metric climbed 3.55%, reaching a new peak of 64.68 trillion at block height 816,480. This adjustment marks the fifth consecutive rise in the network’s difficulty since September 19. Presently, Bitcoin’s difficulty level has exceeded the 64 trillion threshold, underscoring the formidable task and significant computational power required to produce a hash that meets a specific criteria. With a difficulty level of 64.68 trillion, the mining environment is exceptionally competitive, demanding extensive computational effort to secure Bitcoin block rewards. More inf via Bitcoin.com here https://lnkd.in/dg2tHesU

FTX 🆚 Bybitw
🔥 FTX’s bankruptcy estate, led by CEO John J. Ray III, has initiated a legal action against Bybit, along with its investment arm Mirana and several executives. The objective of the lawsuit is to reclaim funds and digital assets that ByBit allegedly withdrew from FTX shortly before its financial collapse. The current estimated value of the assets in question is approaching $1 billion. The lawsuit alleges that ByBit leveraged its “VIP” privileges and connections with FTX staff to extract substantial cash and digital assets from Mirana, Time Research (another entity associated with ByBit), and executives right before the collapse of FTX. More info here https://lnkd.in/d2UceRTg

🚨 The Supreme Court of India has rejected a Public Interest Litigation (PIL) seeking to establish regulations and a framework of guidelines for cryptocurrency trading in the country. A bench headed by Chief Justice D. Y. Chandrachud said the reliefs sought in the plea were more in the nature of a legislative direction More info via here https://lnkd.in/dYQpGdKb

🥶 Binance has seized assets totaling $11.8 million that were owned by clients who fell victim to a kidnapping scheme. In a recent announcement on X, CZ revealed via Twitter (now X) here https://lnkd.in/dPcK3h8i that executives from a client company were lured into a deceptive business trip to Montenegro, where they were abducted and compelled to relinquish all holdings in their cryptocurrency wallets. In total the bad actors were able to obtain approximately $12.5 million dollars worth of digital assets from their victims, which were all converted to USDT and moved to a TRON wallet.

🟠 Two UAE news
⚡ Laser Digital asste management launches “ Ethereum Adoption Fund” for Institutional investors”
⚡ Saudi Arabia unveils International Center for AI Research and Ethics

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