hodler

3 Feb 2026, 08:10

FTX Users Reach Proposed Settlement With Fenwick & West in Fraud Lawsuit

Users of the collapsed crypto exchange FTX and Silicon Valley law firm Fenwick & West have reached a proposed settlement in a lawsuit accusing the firm of helping facilitate the fraud that preceded FTX’s downfall. Key Takeaways: FTX users and Fenwick & West reached a proposed settlement in a lawsuit tied to the exchange’s collapse. The deal, whose terms are undisclosed, is set to be submitted for court approval on Feb. 27. The case is part of broader efforts by users to hold advisers and partners accountable after FTX’s failure. In a joint filing submitted Friday to a federal court in Florida, Fenwick and lawyers representing FTX users said they intend to formally present the settlement for court approval on Feb. 27. The filing did not disclose financial terms, but both sides asked the court to pause all pending deadlines and motions while the settlement is finalized. FTX Collapse Triggers Wave of Lawsuits From Users The case is part of a broader wave of litigation that followed FTX’s sudden collapse in November 2022, which left millions of customers unable to access their funds. Users have brought claims against former executives, business partners, promoters and professional service providers tied to the exchange. The lawsuit against Fenwick was first filed in 2023 and later amended in August. It alleged that the firm played “a key and crucial role” in the conduct that enabled the FTX fraud, claiming Fenwick provided “substantial assistance” by designing and approving corporate structures that allowed misconduct to continue undetected. According to the complaint, Fenwick advised FTX on structuring its operations in ways that avoided certain money transmitter registration requirements. Former FTX outside legal counsel Fenwick & West and FTX victims agreed to settle the class action lawsuit, with the law firm admitting no legal wrongdoing. Fenwick cited litigation costs and potential reputational harm as reasons for the settlement. The settlement amount has… pic.twitter.com/TuLN4ZxeGb — FTX Historian (@historian_ftx) February 2, 2026 The suit also alleged the firm had visibility into the commingling of customer funds and the blurred operational boundaries between FTX and its sister trading firm, Alameda Research. Fenwick has consistently denied the allegations . The firm previously sought to dismiss the case, arguing it had no knowledge of any fraud and that it provided routine, lawful legal services to its client. In November, however, the court rejected Fenwick’s motion to dismiss, allowing the users’ amended complaint to proceed. The proposed settlement comes after mixed results in users’ efforts to hold outside advisers accountable. In February 2024, FTX users sued Sullivan & Cromwell , the exchange’s former primary outside counsel, alleging it played a role in the multibillion-dollar fraud. That case was voluntarily dismissed eight months later, with plaintiffs citing insufficient evidence. Sam Bankman-Fried Claims FTX Was Never Insolvent As reported, Bankman-Fried has reignited debate over the FTX collapse, claiming the exchange always had enough assets to fully repay customers. In a September 30 document, the former CEO argued that the $8 billion shortfall cited during bankruptcy “never left,” and that customer recoveries of up to 143% prove FTX suffered a liquidity crunch—not insolvency. “There have always been enough assets to repay all customers—in full, in kind—both in November 2022, and today,” he wrote. Bankman-Fried framed the collapse as a “classic bank run,” triggered by panic withdrawals that drained liquidity within days. He maintained that FTX and Alameda’s assets exceeded liabilities up to mid-2022, and claimed that financing deals were underway before the bankruptcy filing. His document disputes the bankruptcy team’s early reports of insolvency and blames their management for eroding value and prolonging creditor repayments. The post FTX Users Reach Proposed Settlement With Fenwick & West in Fraud Lawsuit appeared first on Cryptonews .

3 Feb 2026, 08:10

ARK Invest Bought Crypto Stocks During Market Downturn

ARK Invest bought crypto stocks (HOOD, Circle, BMNR, Coinbase) during the market downturn. BTC fell below 80K, MicroStrategy broke its base. RSI oversold, strong supports at 74K-78K. ARKK and ARKF ...

3 Feb 2026, 08:05

Epstein Made a $3M Investment in Coinbase, DOJ Email Exposes

The recent speculation surrounding the Epstein Files, referring to a huge collection of documents related to the case of American financier Jeffrey Epstein, revealed that he made a $3 million investment in the crypto exchange Coinbase over a decade ago. Per documents released by the U.S. Department of Justice , Epstein invested in Coinbase through Brock Pierce’s Blockchain Capital in 2014. “Unclear if the deal actually went through, but there is a lot of discussion around investing in Coinbase in the files,” wrote Bitcoin researcher Kyle Torpey. This email seems to indicate Epstein gave Brock Pierce $3 million to invest in Coinbase. Unclear if the deal actually went through, but there is a lot of discussion around investing in Coinbase in the files. pic.twitter.com/kq0bURqvVw — Kyle Torpey (@kyletorpey) February 1, 2026 The Connection Between Epstein and Fred Ehrsam The purchase allegedly secured Epstein a face-to-face meeting with Coinbase co-founder Fred Ehrsam. In a leaked email screenshot, “Jeff” is mentioned along with Ehrsam, indicating that Ehrsam might have known about his involvement in Coinbase. Source: X “I have a gap between noon and 3pm today, but again, not crucial for me, but would be nice to meet him if convenient. Is it important for him,” Ehrsam wrote. Four years later, in 2018, another email confirmed that Epstein got his Coinbase allocation. It appears that he later sold 50% of the stake back to Blockchain Capital for around $11M. In 2008, a Florida state court convicted Epstein of procuring a child for prostitution and soliciting a prostitute. Blockstream Has No Connection, Says CEO Meanwhile, Blockstream CEO Adam Back pushed back claims from Epstein Files regarding his ongoing connection with the convict. “Blockstream has no direct nor indirect financial connection with Jeffrey Epstein, or his estate,” Back wrote on X. In 2014, during Blockstream’s seed-round investor roadshow, the company was introduced to then MIT Media Lab director Joi Ito. Subsequently Blockstream met with Jeffrey Epstein, who was described at the time as a limited partner in Ito’s fund. That fund later invested a minority… — Adam Back (@adam3us) February 1, 2026 One of the documents released by the U.S. DOJ corresponding to July 2014 says that Blockstream co-founder Austin Hill discussed the company’s seed round with Epstein and Joi Ito, then director of the MIT Media Lab. “Hi Joi & Jeffrey; We are down to the wire on closing this round,” Hill wrote in an email. “We are 10x oversubscribed on an $18m seed round and Reid at the last minute told us to bump your allocation from $50k to $500k.” In the Monday post, Adam Back noted that Blockstream met with Jeffrey Epstein, who was described at the time as a “limited partner in Ito’s fund.” “That fund later invested a minority stake in Blockstream. A few months later, Ito’s fund divested its Blockstream shares due to a potential conflict of interest, and other concerns.” The post Epstein Made a $3M Investment in Coinbase, DOJ Email Exposes appeared first on Cryptonews .

3 Feb 2026, 08:00

Binance Converts $1 Billion SAFU Fund to Bitcoin, First Purchase Confirmed

Binance announced on 29 January 2026 it will convert its $1 billion SAFU user protection fund from stablecoins into Bitcoin over 30 days. The exchange confirmed the first purchase of 1,315 Bitcoin worth $100.7 million on 2 February 2026.

3 Feb 2026, 07:40

Bithumb Moonbird Listing: Strategic Expansion Brings BIRB Token to South Korea’s Thriving KRW Market

BitcoinWorld Bithumb Moonbird Listing: Strategic Expansion Brings BIRB Token to South Korea’s Thriving KRW Market SEOUL, South Korea – In a significant move for the Asian digital asset landscape, leading South Korean cryptocurrency exchange Bithumb has officially announced the listing of Moonbird (BIRB) on its Korean Won (KRW) market. This pivotal listing commenced at 09:00 UTC today, immediately providing millions of registered users direct access to trade the NFT-linked utility token using the national fiat currency. Consequently, this integration marks a substantial step in bridging non-fungible token ecosystems with traditional exchange liquidity, reflecting Bithumb’s ongoing strategy to diversify its offerings. Moreover, the decision arrives during a period of renewed regulatory clarity and institutional interest within South Korea’s blockchain sector. Bithumb Moonbird Listing: A Deep Dive into the Announcement Bithumb’s official communication confirmed the BIRB token listing would proceed on its KRW trading pair. The exchange, consistently ranked among the top five digital asset platforms in South Korea by trading volume, has established specific deposit and trading schedules for the asset. Trading for the BIRB/KRW pair opened precisely at the announced time, following a preparatory period for deposit functionality. This operational precision underscores the exchange’s commitment to providing a seamless user experience. Furthermore, Bithumb has implemented its standard security and compliance checks prior to the listing, ensuring the token meets its stringent market eligibility criteria. The listing process itself follows a well-documented protocol that Bithumb applies to all new assets, involving technical integration, liquidity provisioning, and regulatory notification. Historically, listings on major Korean exchanges like Bithumb often precipitate notable volatility and increased attention for the featured cryptocurrency. The KRW market represents one of the most active retail crypto trading environments globally. Therefore, access to this liquidity pool is a coveted milestone for any project. For instance, past listings of similar NFT and metaverse tokens have demonstrated measurable impacts on trading volume and holder distribution. Bithumb’s decision likely stems from a comprehensive review of Moonbird’s technological infrastructure, community activity, and long-term roadmap. The exchange’s listing committee typically evaluates factors like smart contract security audits, project transparency, and developer activity before granting approval. Understanding the Moonbird (BIRB) Token Ecosystem Moonbird (BIRB) operates as the primary utility token within the broader Moonbirds NFT ecosystem, a project launched by the PROOF collective. Initially, the Moonbirds collection itself gained rapid recognition as a profile picture (PFP) NFT project. However, the BIRB token was introduced to expand functionality beyond static ownership. The token facilitates various ecosystem actions, including but not limited to: Governance Rights: Allowing holders to participate in key community decisions. Ecosystem Access: Unlocking exclusive content, events, and future project releases. Staking Mechanisms: Enabling holders to earn rewards through various participation models. This utility-focused model represents a broader industry shift where NFT projects develop sophisticated tokenomics to sustain long-term engagement. The BIRB token exists natively on the Ethereum blockchain, adhering to the ERC-20 standard. Its integration into a major centralized exchange like Bithumb requires robust bridge and wallet infrastructure to ensure secure fund movement. Notably, the token’s value proposition is intrinsically linked to the health and innovation of the Moonbirds ecosystem. Consequently, its performance on the open market will reflect both speculative trading and genuine utility demand. Expert Analysis: The Strategic Importance for South Korea’s Market Market analysts observe that Bithumb’s listing aligns with several concurrent trends. First, South Korean investors have consistently shown a strong appetite for innovative crypto assets, particularly those connected to digital culture and gaming. Second, the local regulatory environment, guided by the Financial Services Commission (FSC), has been gradually defining clearer frameworks for utility tokens and exchange operations. A listing of this nature signals a degree of compliance confidence from the exchange’s perspective. “Listings on premier Korean exchanges are more than just new trading pairs; they are cultural and economic signals,” notes a veteran blockchain analyst covering the APAC region. “They validate a project’s legitimacy for a cautious yet enthusiastic investor base and directly inject liquidity. The BIRB/KRW pair will create a direct price discovery channel independent of USD-based pairs, which can sometimes reduce volatility spillover from overseas markets.” This analyst further points to historical data showing that successful KRW listings can increase a token’s 24-hour trading volume by multiples, enhancing overall market stability and visibility. The following table contrasts recent notable NFT-linked token listings on South Korean exchanges and their observed short-term impact: Token Exchange Listing Date Avg. Volume Increase (7-Day) Project A Upbit Q3 2024 420% Project B Coinone Q4 2024 310% BIRB (Moonbird) Bithumb Today To be observed Regulatory Context and Future Implications South Korea’s digital asset regulations continue to evolve under the Virtual Asset User Protection Act and related frameworks. Exchanges like Bithumb operate under strict licensing requirements, including real-name bank account verification partnerships and robust anti-money laundering protocols. The listing of a utility token like BIRB necessitates thorough legal review to ensure it is not classified as a security under current interpretations. This successful listing may pave the way for similar NFT and metaverse tokens to seek KRW market access. Additionally, it could encourage other Korean exchanges to evaluate their own listing strategies for asset classes beyond mainstream cryptocurrencies. For the Moonbirds ecosystem, the listing represents enhanced accessibility for a key geographic market. South Korea boasts one of the world’s highest rates of NFT awareness and adoption per capita. Therefore, direct fiat on-ramps can significantly lower the barrier to entry for new community members. This accessibility could accelerate ecosystem growth and utility adoption. From a technical standpoint, Bithumb’s infrastructure must handle the unique transaction patterns sometimes associated with governance and staking activity linked to the token. Conclusion Bithumb’s listing of the Moonbird (BIRB) token on its KRW market is a multifaceted development with implications for exchange strategy, project growth, and investor choice. It underscores the continuing convergence of NFT and traditional exchange ecosystems while highlighting South Korea’s influential role in the global digital asset landscape. The move provides Bithumb users with direct exposure to a prominent utility token and bolsters Moonbird’s liquidity and legitimacy. As the market absorbs this new trading pair, observers will monitor trading volume, price stability, and community growth metrics to gauge the long-term impact of this strategic Bithumb Moonbird listing. FAQs Q1: What is Moonbird (BIRB) and why is its listing on Bithumb significant? Moonbird (BIRB) is the utility token for the Moonbirds NFT ecosystem. Its listing on Bithumb is significant because it provides direct Korean Won trading access on a major South Korean exchange, greatly increasing liquidity and accessibility for local investors. Q2: At exactly what time did the BIRB/KRW trading start on Bithumb? Trading for the BIRB/KRW pair officially commenced at 09:00 Coordinated Universal Time (UTC) on the day of the announcement, as per Bithumb’s official statement. Q3: How does this listing affect South Korean investors interested in the NFT space? This listing simplifies the process for South Korean investors. It allows them to purchase BIRB directly with KRW without needing to first buy another cryptocurrency like Bitcoin or Ethereum, thereby reducing steps and exposure to cross-pair volatility. Q4: Does Bithumb’s listing imply any regulatory approval for the BIRB token? While a listing indicates Bithumb’s internal compliance team has deemed the asset acceptable under its policies, it does not constitute a formal endorsement or security classification by South Korean financial regulators like the FSC. The exchange bears the responsibility for its due diligence. Q5: What are the primary uses of the BIRB token within its native ecosystem? The primary utilities of the BIRB token include participating in community governance votes, accessing exclusive ecosystem features and content, and engaging in staking mechanisms to earn potential rewards, all centered around the Moonbirds NFT project. This post Bithumb Moonbird Listing: Strategic Expansion Brings BIRB Token to South Korea’s Thriving KRW Market first appeared on BitcoinWorld .

3 Feb 2026, 07:18

Cathie Wood's ARK buys over $70 million of crypto stocks as bitcoin slides

Fresh buys in CRCL, COIN, and BLSH come as Cathie Wood’s funds lean into exchange and stablecoin names during a market dip