The Block
Quick Take Sam Bankman-Fried received a prison sentence of 24.25 years on Thursday, which will likely be served in a lower-security prison in California’s Bay Area.
Quick Take The U.S. and UK are investigating $20 billion worth of USDT passing through the sanctioned Russian exchange Garantex. The $20 billion in Tether transactions could be the single-largest flouting of sanctions against Russia since the start of the Russia-Ukraine war in February 2022.
Quick Take Reciprocal Ventures partner Craig Burel explains how venture capitalists are flocking back to the crypto industry in the wake of the market’s recent rally.
The FTX estate’s sales of locked solana have seen strong demand, according to multiple sources. Neptune Digital is the first firm to say it has closed a purchase of tokens from the estate.
Quick Take Copper is launching an internal review after apologizing for an event it claims did not align with its corporate values. At the event, sushi was served off the bodies of scantily-clad models.
Quick Take The Block’s live coverage of Sam Bankman-Fried’s sentencing for his role in the FTX/Alameda fraud case.
Investment firm Kerrisdale Capital argued that MicroStrategy’s shares are overvalued.The firm holds a short position on MicroStrategy shares and is long on BTC through BlackRock and Fidelity’s spot bitcoin ETFs.
Data compiled by 21.co shows more than $1 billion worth of U.S. Treasuries are now tokenized on public blockchains. Franklin Templeton’s BENJI leads with $360 million, while BlackRock’s new “BUIDL” tokenized fund has grown from $40 million to $245 million in just a week.
Quick Take The crypto industry lost $336 million in Q1 due to hacks and fraud, according to blockchain security firm Immunefi. Orbit Bridge and Munchables were the top two exploits, accounting for 43% of the losses alone, though Munchables’ funds were later recovered.
Quick Take Avalanche’s Codebase startup incubator has announced the first cohort of early-stage web3 companies to take part in its accelerator program. 15 companies were selected for the cohort after Codebase received nearly 250 applications from over 30 countries.
