The Block
Quick Take The Securities and Exchange Commission has had some notable legal and investigative losses in recent months, including a court sanction in Utah. However, legal experts and crypto commentators are split on whether the regulator is losing its attempt to classify nearly all cryptocurrencies as securities.
Quick Take Fintech company Partior has raised over $60 million in a Series B round led by Peak XV Partners. The fresh capital will help the firm develop its ledger-based interbank rails for real-time clearing and settlement.
Following the latest round of transfers to and from crypto exchanges and market markers on Friday, Germany now has around 6,146 bitcoins ($350 million) left to sell.The country’s government has been offloading the 50,000 bitcoins it seized from online film piracy platform Movie2K in January.
Bernstein analysts criticized Culper Research’s short report argument against IREN’s AI upside potential and the notion that bitcoin mining is “valueless.”Separately, the analysts estimated Block’s recent deal to supply Core Scientific with its 3-nanometer mining chips to be worth around $300 million.
Bitcoin and ether trend lower, alongside a sell-off in equity markets, despite inflation indicators boosting the odds of a rate cut in September.The Chicago Mercantile Exchange Fedwatch tool has increased the odds of a rate cut in September from 68.1% on Thursday to 88.1% today.
The 11 spot bitcoin ETFs in the U.S. reported nearly $79 million in net inflows on Thursday.BlackRock’s IBIT led inflows with $72 million.
Culper views Iris Energy shares as “wildly overvalued” — worth anywhere from 52% to 79% less than current prices on this sum-of-the-parts basis.Earlier this year, Kerrisdale Capital released a short reports critical of MicroStrategy and Riot Platforms.
Quick Take U.S. lawmakers voted 228-184 on Thursday in a failed attempt to override President Joe Biden’s veto of a legislative measure to overturn SEC Staff Accounting Bulletin No. 121. The vote did not meet the two-third majority threshold to overturn President Biden’s veto, so the bulletin will stay in effect.
Quick Take Hamster Kombat’s anonymous founders said their team has been working in crypto since 2013 and were inspired by Notcoin when creating the Telegram “clicker” game. The founders also said that after the first airdrop slated for this month, they are planning for a second airdrop.
Quick Take Paxos said it received a “formal termination notice” on July 9, which said the SEC would not recommend enforcement against the firm in the investigation of BUSD. The SEC issued a notice to crypto infrastructure provider Paxos over its involvement in Binance USD stablecoin last year.
