Episode Details

15th May: Crypto & Coffee at 8

🚔 Tornado Cash Developer — GUILTY 🚀GME meme coin up by 2,291%, KITTY up by 13,000%🚀 Mt. Gox to inject 142,000 BTC 👀 OKX in AUS❗

🚔 Tornado Cash developer Alexey Pertsev has been found guilty of money laundering by a Dutch judge at s-Hertogenbosch court on Tuesday. Pertsev has been given 64 months of prison time by the court. Info via CoinDesk here https://tinyurl.com/4j926maf Pertsev was accused of laundering $1.2 billion of crypto through Tornado Cash, per an indictment earlier this year.

🔴 GME meme coin, inspired by GameStop, surged to over $100 million in market cap amid GameStop’s trading frenzy, reaching 2,291% growth in a week. This coincided with GameStop’s shares rallying due to Keith Gill’s return, causing another short squeeze. GameStop’s CEO, Ryan Cohen, saw $1 billion in unrealized capital gains. Cointelegraph article here states Memecoin frenzy extends beyond GME, with Pepe and Dogwifhat memecoins also rallying. More info here https://tinyurl.com/yc2tfjv9

🔴 A Solana meme coin named KITTY, inspired by Roaring Kitty, experienced a sudden surge in price by over 13,000% within hours after Roaring Kitty reappeared online. The token, which initially dropped to near-zero, saw its market capitalization reach tens of millions of dollars. This unexpected turn of events resulted in a significant increase in trading volume for KITTY on Solana decentralized exchanges. via Decrypt https://tinyurl.com/yk9yanwn

😱 (More Supply = Less Demand)

- Mt. Gox is set to distribute 142,000 BTC, 143,000 BCH, and fiat currency to creditors who lost funds in its 2011 hack. The distribution, scheduled for October 31, 2024, follows years of legal proceedings. Some creditors have already received fiat payments, sparking discussions on whether to sell or hold their Bitcoin. Despite market concerns, many creditors plan to hold onto their Bitcoin, believing in its long-term value. More info via Reddit, Inc. https://tinyurl.com/3nd6re5j

❗ In 2011, Mt. Gox fell victim to a hack, losing 850,000 BTC valued at over $51 billion today. Following the incident, the exchange filed for bankruptcy and has been working to gather funds for creditor compensation since then.

🚨 OKX has launched spot and derivatives trading services in Australia, expanding its global reach. The platform now offers AUD compatibility and access to various crypto assets for both spot and derivatives trading. While spot trading is available to all users, derivatives trading is restricted to verified wholesale clients. This launch reflects their commitment to serving the Australian market and its ongoing global expansion efforts.

Check out Blockchain DXB’s podcast we share our commentary

🟠 Two UAE news (See slides)

⚡ Tether.to Signs MOU With RAK DAO To Develop Educational Initiatives on Bitcoin and Stablecoins in the Ras Al Khaimah Region

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