Here’s what happened in crypto today
From license approvals and legal battles to further adoption and new ventures, the crypto ecosystem goes through myriad changes every single day, and can be hard to keep track of. Here are the highlights of the most significant developments happening in the crypto world today:
Voyager Digital creditors billed $5.1M in legal fees
New York-based law firm McDermott Will & Emery billed $5.1 million to the creditors of bankrupt crypto brokerage firm Voyager Digital for legal services offered between March 1 and May 13, 2023.
The court documents revealed that the law firm charged Voyager Digital an hourly rate of $1,026.76 for its services during the said period.
This was the third and final bill from McDermott Will & Emery, amounting to a total compensation of $16.48 million between July 5, 2022, and May 19, 2023, of which more than half, $8.97 million, has already been paid by the creditors.
Winklevoss gives ultimatum to DCG’s Barry Silbert
Gemini co-founder Cameron Winklevoss has given Digital Currency Group and its CEO Barry Silbert a strongly-worded ultimatum — pay up or face a lawsuit.
In his second open letter addressed to Silbert this year, Winklevoss slammed the DCG boss for allegedly delaying the resolution process for Gemini’s 232,000 Earn users through “abuse” of the mediation process.
Winklevoss says that around $1.2 billion in crypto is still owed to Gemini’s Earn users ever since the collapse of Genesis earlier this year.
“I write to inform you that your games are over,” Winklevoss said. “Enough is enough.”
Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/ErsYpcEjQD
— Cameron Winklevoss (@cameron) July 4, 2023
The Gemini co-founder has now given Silbert an ultimatum, accept his firm’s “best and final offer” by 4 pm ET on July 6 — or face a lawsuit on July 7.
BlackRock refiles for spot Bitcoin ETF
BlackRock refiled its spot Bitcoin ETF filing and named Coinbase as its previously-unstated ‘surveillance-sharing’ partner.
JUST IN: BlackRock has re-filed for spot bitcoin ETF, the resubmission was dated 6/29, Nasdaq just posted tho. They just added Coinbase like everyone else. pic.twitter.com/UGq46DdLgu
— Eric Balchunas (@EricBalchunas) July 3, 2023
This news comes after a tumultuous week for would-be ETF filers. Citing improper paperwork, the United States Securities and Exchange Commission put a temporary halt on ETF applications from Blackrock, Ark, Valkyrie, WisdomTree, Invesco and others prompting a flurry of refiling activity.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
