The Block
Bakkt stated that its annual revenue increased from $56 million in 2022 to $780 million in 2023.It reported a $226 million net loss in 2023, an 89% decrease compared to 2022.
Quick Take Fantom Foundation is preparing to launch Sonic, its next iteration after Opera. Sonic aims to process 2,000 transactions per second with sub-second finality and is expected to debut in late summer or early fall. It is planned to serve as a shared sequencer for Layer 1 and Layer 2 chains, aiming to process large volume of transactions.
Quick Take The Treasury’s Office of Foreign Assets Control sanctioned 13 entities and two individuals for helping sanctioned entities to evade sanctions in Russia. Netex24 and Bitpapa have a history of transacting with OFAC-sanctioned Russian banks, according to research firm Chainalysis.
Quick Take The filings, which Ripple Chief Legal Officer Stuart Alderoty said will be made public on Tuesday, continue the company’s years-long case with the SEC.
Quick Take Crypto exchange FTX is selling two-thirds of its stake in AI company Anthropic for $884 million, according to court documents. The deals are with two dozen buyers, including Jane Street and Fidelity.
Quick Take Warren called out crypto-based terrorism financing and ‘pig butchering’ scams in a Senate Committee on Armed Services hearing. Warren spoke with two leaders in the U.S. armed forces, who agreed that hampering crypto crime bolsters international security.
Coinbase shares have rallied by over 9% in the past 24 hours.This comes as the price of bitcoin temporarily hit the $70,000 mark.
Quick Take Incorrect reports that the EU is set to ban anonymous crypto wallets and self-custodial payments went viral over the weekend. It followed a misinterpretation of comments from a member of the European Parliament, confirming committee approval of the new EU Anti Money Laundering Regulation (AMLR). However, the reports were swiftly debunked, with Circle’s EU Strategy and Policy Director Patrick Hansen confirming there was no such ban.
Recent volatility in the bitcoin market has caused almost $40 million in BTC short liquidations, Coinglass data shows.Last week’s spot bitcoin ETF net outflow could have been caused by Genesis selling its GBTC shares, according to analysts.
Crypto investment products witnessed record outflows last week, with $942 million exiting funds globally, according to CoinShares.This represents the first weekly net outflows witnessed following a seven-week streak of inflows totaling $12.3 billion.
