13 Aug 2025, 05:00

FTX Customers Claim Law Firm Had ‘Key’ Role In Crypto Exchange’s Fraud – Details

In a new legal development, FTX customers claim that law firm Fenwick & West was a “key” player in the multi-billion-dollar fraud, alleging that the Silicon Valley firm was intertwined in many aspects of the crypto exchange’s operations. Customers Amend FTX Law Firm Track Complaint On Monday, FTX customers filed a motion to amend their complaint against Silicon Valley law firm Fenwick & West, claiming that it played a central role in the crypto exchange’s fraud before its collapse in 2022. The filing, which is part of a multi-district litigation (MDL), follows the June 2023 complaint that alleged the law firm exceeded the norm in its services provided to the crypto exchange and that it could be liable for “conspiring in, and aiding and abetting, Bankman-Fried’s purported fraud, negligence, fiduciary breach and conversion of customer funds.” Notably, the law firm denied the claims in September 2023 with a motion to dismiss the lawsuit, arguing that each of the eight claims should be dismissed with prejudice because Plaintiffs “have failed to plausibly allege any of those claims,” and “are unable to amend their Complaint to state a valid claim for relief.” Nonetheless, the FTX users consider the amended complaint to be “extremely unique” as the District Court for the Southern District of Florida has the “advantage” of reviewing all the completed related investigations over the past 2 and a half years: This is the first substantive amendment to the FTX Law Firm Track complaint. In the nearly two years that have transpired since Plaintiffs filed this MDL, much has transpired outside of this litigation that highlights that Plaintiffs’ claims here are meritorious, and they could even be considered “prevailing parties” at this stage. Rather than press forward with the original Complaint filed two years ago, Plaintiffs seek to streamline issues in this MDL: Law Firm Track. This MDL Track will now proceed with just one Defendant, Fenwick & West. In the proposed amended complaint, the crypto exchange’s customers requested that the Court enter an order granting leave to amend their complaint to address these new facts and deny the Motion to Dismiss as moot. Fenwick Accused Of Crucial Role In Fraud The 220-page document explains that out of the 130 different law firms that offered services to the crypto exchange, only Fenwick is named in the MDL because the FTX Independent Examiner concluded that the firm was deeply intertwined in “nearly every aspect” of the crypto company’s fraud and wrongdoing. According to the filing, the firm had “actual knowledge” of the crypto exchange’s fraud and provided “substantial assistance.” Additionally, Fenwick, in violation of federal racketeering laws, allegedly served as an “essential member” of the FTX enterprises and promoted the sale of “unregistered securities,” in violation of the Florida (FSIPA) and California Laws (CSL). The FTX Fraud was only possible because Fenwick provided “substantial assistance” by creating and approving the structures that allowed numerous frauds, including the theft of hundreds of millions of dollars in “loans” by convicted FTX Insiders from the injured class, and Fenwick agreed to create, managed and represented clearly conflicted companies (such as Alameda Research, FTX, North Dimension, etc.), which purposefully had no safeguards to prevent the billions of dollars that were admittedly stolen. The Plaintiffs highlighted that the evidence from SBF’s trial shows that FTX insiders needed the law firm’s backing and representation, as well as the ability to use the “great Fenwick name” on all related promotions to gain instant credibility on their targeted customer class and help the crypto exchange “locate and obtain billions of dollars in venture capital investments.” Moreover, the law firm also allegedly helped satisfy all concerns by state and federal tax and securities regulators. Ultimately, the amended complaint alleges that at best, Fenwick committed professional negligence that directly caused billions of dollars in damages, and at worst was a “key and crucial” player in the crypto exchange’s fraud.

13 Aug 2025, 04:59

Kazakhstan-Based Fonte Capital Launches Central Asia’s First Spot Bitcoin ETF, Trading Begins on Aug. 13

Astana-based investment manager Fonte Capital will debut its Bitcoin exchange-traded fund (ETF) on Wednesday, on the Astana International Exchange (AIX). Central Asia’s first spot Bitcoin ETF product, dubbed the Fonte Bitcoin Exchange Traded Fund OEIC, will start trading Aug. 13 under the ticker BETF, quoted in US dollars. According to an official announcement , the fund will reflect the price dynamics of Bitcoin, holding the crypto directly. US-regulated BitGo Trust will be serving as the custodian, and the Astana International Financial Centre (AIFC) will regulate the fund. “The Fund is registered as non-exempt, making it accessible to a broad range of investors, including retail participants,” it read. AIFC’s Legal Framework for Digital Assets The regulator has allowed licensed crypto exchanges, custodians and investment products to operate within its jurisdiction. According to the agency’s backers, it can shield assets from being seized under international sanctions, while avoiding dependence on foreign issuers. Further, the AIFC is also looking to anchor crypto banking infrastructure in Kazakhstan. The country’s Prime Minister said in April that Kazakhstan is currently working on legislative amendments to liberalize digital asset circulation and expand platforms for crypto-related activities. Kazakhstan is exploring the launch of crypto banks as part of its broader push to build a sustainable and regulated digital asset ecosystem. #Kazakhstan #Bitcoin https://t.co/egghK92tqY — Cryptonews.com (@cryptonews) April 30, 2025 “The emergence of such institutions will create demand for new specialists, particularly in compliance, blockchain analytics, and anti-money laundering, and will also ensure the growth of liquidity of fiat and digital assets within the AIFC,” Prime Minister Olzhas Bektenov said at the time. Besides, the nation is planning to launch “CryptoCity,” a pilot zone where cryptocurrencies can be used to pay for goods and services. Meanwhile, neighboring Central Asian nations, including Uzbekistan and Kyrgyzstan, have been more cautious towards crypto. Kazakhstan Joins Global Crypto ETF Roster With the latest debut of BETF fund, Kazakhstan aligns with growing global jurisdictions such as the US and Hong Kong, which have already approved spot Bitcoin ETFs. The ETF listing on AIX means that regional and international investors get regulated BTC access, leading to fresh cash inflows. Additionally, investors could buy shares in the fund “without the complexities associated with holding and transferring the underlying asset,” the announcement added The post Kazakhstan-Based Fonte Capital Launches Central Asia’s First Spot Bitcoin ETF, Trading Begins on Aug. 13 appeared first on Cryptonews .

13 Aug 2025, 04:54

First Speakers Announced for Blockchain Futurist Conference Miami, the Next Major Web3 Event in the U.S.

BitcoinWorld First Speakers Announced for Blockchain Futurist Conference Miami, the Next Major Web3 Event in the U.S. Taking place at a pivotal time for the American crypto industry, the 8th annual conference is set to make a huge impact this November 5 – 6, 2025. MIAMI, FL, August 13, 2025 – Blockchain Futurist Conference returns for its eighth edition on November 5-6, 2025 , bringing its signature Web3 experience to Greater Miami, Florida . The event will take place at the iconic Hard Rock Guitar Hotel and DAER , offering a unique mix of quality programming and immersive networking. For more than seven years, Futurist Conference has redefined what a Web3 event can be, earning a reputation for sparking high-value conversations in immersive, unconventional settings. Now, with momentum accelerating across the industry and regulatory clarity beginning to take shape in the United States, the timing for its U.S. expansion could not be better. The Miami edition continues that legacy in a city rapidly establishing itself as a global hub for Web3 innovation. The first wave of speakers for Futurist Miami has officially been announced, representing some of the most influential names across crypto, blockchain, AI, and emerging tech: Mike Belshe , Co-Founder and CEO, BitGo Shaw Walters , Founder, Eliza Labs Luca Netz , CEO, Pudgy Penguins Lisa Loud , Executive Director, Secret Network Evan Kuhn , President, DeLorean Labs Justin Sun , Founder, TRON Janet Adams , COO, SingularityNET Dean Skurka , President and CEO, WonderFi Clara Tsao , Founding Officer, Filecoin Foundation Todd Shapiro , Co-Founder and CEO, Red Light Holland Trevor Koverko , Co-Founder, Sapien Toufi Saliba , CEO, HyperCycle.ai This lineup showcases the caliber of content attendees can expect, with over 300 speakers set to take the spotlight across four epic stages. Current top sponsors include Tangem Wallet , ZKDL , DeLorean Labs , Sullivan Hart , and Nexa , with additional announcements to come. Media partners such as Paul Barron Network, The Defiant, Genzio, Blockchain North, Market Across , and Melrose PR will be in participating. Conference goers can expect tons of on-site interviews and coverage throughout the two days. Futurist Conference Miami will also feature thousands of attendees, on-site side events, multi-level expo floors, and VIP private outdoor cabanas. The experience will include a curated NFT gallery by BitBasel, showcasing both digital and physical art. In keeping with Futurist’s Web3-native approach, attendees can purchase tickets using major cryptocurrencies like Bitcoin, Ethereum, and Solana, thanks to their payment partner EukaPay. This on-chain integration reinforces the event’s commitment to the ecosystem it serves. Less than three months remain until industry leaders, innovators, and changemakers gather in Miami. Be part of the movement, apply to speak, sponsor, or secure your tickets now. For sponsorship: https://www.futuristconference.com/sponsorship-form For speaking: https://www.futuristconference.com/speaker-form For tickets: https://www.futuristconference.com/florida/ticket This post First Speakers Announced for Blockchain Futurist Conference Miami, the Next Major Web3 Event in the U.S. first appeared on BitcoinWorld and is written by Keshav Aggarwal

13 Aug 2025, 04:49

Ethereum Tops $4,600 as BitMine Eyes $20B ETH Treasury

Ether prices have surged to their highest levels for almost four years, tapping $4,625 during Asian trading early on Wednesday morning. The asset has continued to build momentum and is now up a whopping 54% over the past month and 27% over the past week. Meanwhile, the latest move has taken it to within 5.3% of its 2021 all-time high of $4,878, according to CoinGecko. Ethereum’s market capitalization is now $552 billion, which ranks it 18th in terms of corporations and around $100 billion below credit giant Visa. BitMine Plans $20B Raise Crypto analysts are predicting a parabolic move for Ether, which could push prices into five figures this market cycle. Chart patterns mirror the 2016/2017 market cycle when “pure retail mania” was driving gains, observed analyst “Merlijn The Trader,” who added, this time it is retail plus Wall Street plus “unstoppable global adoption.” Ethereum is running the 2016–2017 playbook. Last time: pure retail mania. This time: retail + Wall Street + unstoppable global adoption. When $ETH breaks, it won’t wait. Be in… or be exit liquidity. pic.twitter.com/UX89fcZiA0 — Merlijn The Trader (@MerlijnTrader) August 12, 2025 Momentum is being driven by Ethereum treasury companies, and the world’s largest one , BitMine Immersion Technologies, has just filed a prospectus with the SEC to raise an additional $20 billion through sales of common stock. Prior to this update, Tom Lee’s firm reported that it had already completed sales under the program totaling roughly $4.5 billion. BitMine, which already holds almost 1.2 million ETH worth around $5.3 billion, is expected to channel the proceeds into more ETH accumulation. $20 billion would equate to more than 4 million ETH at current market prices. Analysts have already started to say that $15,000 per ETH is “already programmed.” Ether ETFs On Fire This immense buying pressure has only been matched by spot Ether ETFs, as retail has been largely absent from this rally. ETH ETFs have seen another massive inflow day following their record $1 billion inflow on Monday, driven by BlackRock’s record $640 million inflow. Tuesday saw another $523 million inflow and the fifth-best day since the products launched. Around $2.3 billion has entered the products over the past five trading days. “Since the beginning of July, spot ETH ETFs have taken in nearly $1.5 billion more than spot BTC ETFs,” observed industry expert Nate Geraci, who added that this was a “notable shift.” Another half bil into spot eth ETFs… 5th best day since launch. Now $2.3bil over past 5 trading days. Since beginning of July, spot eth ETFs have taken in nearly $1.5bil more than spot btc ETFs. Notable shift. — Nate Geraci (@NateGeraci) August 13, 2025 The post Ethereum Tops $4,600 as BitMine Eyes $20B ETH Treasury appeared first on CryptoPotato .

13 Aug 2025, 04:45

Solana Price Soars: SOL Crypto Triumphs, Reclaiming $200 Mark!

BitcoinWorld Solana Price Soars: SOL Crypto Triumphs, Reclaiming $200 Mark! The cryptocurrency market buzzes with exciting news as Solana (SOL) achieves a significant milestone, temporarily reclaiming the coveted $200 mark. According to Bitcoin World market monitoring, this impressive surge positions SOL crypto firmly back in the spotlight. At the time of publication, Solana price stood at approximately $199.5, reflecting a remarkable 13.49% increase on the Binance USDT market. This notable Solana rebound signals renewed investor confidence and highlights the network’s growing strength within the broader digital asset landscape. What Fuels the Impressive Solana Rebound? Several key factors contribute to Solana’s recent price surge, demonstrating robust blockchain performance and increasing utility. Investors are keenly observing the network’s consistent advancements and its expanding ecosystem. This positive momentum isn’t just about a price point; it reflects fundamental improvements and growing adoption. High Transaction Throughput: Solana’s ability to process thousands of transactions per second with incredibly low fees makes it a highly attractive platform for developers and users alike. This efficiency is a cornerstone of its strong blockchain performance . Developer Activity: A vibrant and active developer community continues to build innovative applications on Solana, ranging from decentralized finance (DeFi) protocols to gaming and non-fungible tokens (NFTs). This sustained development fuels demand for SOL crypto . Ecosystem Growth: The expansion of dApps, stablecoins, and institutional interest on the Solana network has significantly increased its total value locked (TVL) and overall market presence. This broad adoption directly impacts the Solana price . Exploring Solana’s Vibrant Ecosystem and its Blockchain Performance Solana’s ecosystem is a dynamic hub for innovation, continuously pushing the boundaries of what is possible on a blockchain. Its high-performance capabilities underpin a diverse range of applications, showcasing superior blockchain performance compared to many competitors. This versatility contributes significantly to the network’s appeal and the value of SOL crypto . Consider the growth across various sectors: DeFi Expansion: Solana hosts a burgeoning DeFi landscape, offering lending, borrowing, and decentralized exchange services. The efficiency of the network allows for faster and cheaper transactions, enhancing user experience. NFTs and Gaming: The low transaction costs and high speed make Solana an ideal platform for NFT marketplaces and blockchain-based games. Many popular collections and games choose Solana for its reliable blockchain performance . Enterprise Adoption: Increasingly, enterprises and major projects are exploring Solana for their blockchain solutions, recognizing its scalability and robust infrastructure. This growing interest further solidifies the network’s position in the cryptocurrency market . Navigating the Volatility of the Cryptocurrency Market While the recent Solana rebound is cause for optimism, it is crucial to remember that the cryptocurrency market remains inherently volatile. Price movements, including the impressive jump in Solana price , can be influenced by a myriad of factors, both internal to the network and external market forces. Investors should always approach digital asset investments with a clear understanding of the associated risks. Global economic trends, regulatory news, and overall sentiment within the cryptocurrency market can all impact SOL crypto . Therefore, while Solana’s current trajectory is positive, sustained growth will depend on continued innovation, adoption, and a favorable market environment. Diligent research and risk management are always advisable. What Does This SOL Crypto Surge Mean for Investors? The reclaiming of the $200 mark by Solana price is a significant psychological and technical indicator for many investors. It suggests strong buying pressure and a potential shift in market sentiment towards bullishness for SOL crypto . This milestone could attract new capital and further accelerate the Solana rebound . For existing holders, this surge validates their belief in the network’s long-term potential and robust blockchain performance . For potential investors, it presents an opportunity to consider Solana as a viable asset, but always with a balanced perspective on market dynamics. Observing how the network continues to develop and address challenges will be key to its sustained success. Conclusion: Solana’s Resilient Rise Solana’s impressive recovery to the $200 mark underscores its resilience and growing prominence in the fast-evolving cryptocurrency market . This Solana rebound is not merely a fleeting price spike but a testament to the robust blockchain performance , expanding ecosystem, and dedicated community driving SOL crypto forward. As the digital asset space continues to mature, Solana stands out as a powerful contender, consistently demonstrating its capacity for innovation and growth. Its journey back to this significant valuation highlights its potential for continued impact on the future of decentralized technology. Frequently Asked Questions (FAQs) Q1: What is Solana (SOL)? A1: Solana (SOL) is a high-performance blockchain platform designed for decentralized applications (dApps) and crypto projects, known for its rapid transaction speeds and low fees. Q2: Why did Solana’s price reclaim $200? A2: The recent Solana rebound to $200 is attributed to factors like increased network activity, growing developer interest, expansion of its DeFi and NFT ecosystems, and renewed investor confidence in its blockchain performance . Q3: What factors influence Solana’s blockchain performance? A3: Solana’s blockchain performance is influenced by its unique consensus mechanism (Proof of History), high transaction throughput, low latency, and continuous network upgrades that enhance its scalability and efficiency. Q4: Is Solana a good investment? A4: While the recent surge in Solana price is positive, investing in SOL crypto , like any cryptocurrency, carries risks due to market volatility. Potential investors should conduct thorough research and consider their risk tolerance. Q5: How does Solana compare to other blockchains in the cryptocurrency market? A5: Solana is often compared to Ethereum due to its smart contract capabilities. However, Solana typically offers significantly faster transaction speeds and lower fees, making it a strong competitor in the broader cryptocurrency market for high-volume applications. Did you find this analysis of Solana’s remarkable rebound insightful? Share this article with your friends and fellow crypto enthusiasts on social media to spread the word about SOL’s exciting journey! To learn more about the latest cryptocurrency market trends, explore our article on key developments shaping Solana’s price action. This post Solana Price Soars: SOL Crypto Triumphs, Reclaiming $200 Mark! first appeared on BitcoinWorld and is written by Editorial Team

13 Aug 2025, 04:41

Cathie Wood Suggests Bitcoin Could Exceed $1 Million in Five Years Amid Growing Institutional Adoption

Cathie Wood predicts Bitcoin will exceed $1 million in five years, driven by institutional adoption and its role as a gold substitute, despite no major macroeconomic shifts. Bitcoin’s price forecast: