- WAGMI
- Posts
- Crypto Alpha, 25 August 2024
Crypto Alpha, 25 August 2024
Daily Alpha on All Things Crypto, Web3 and Blockchain
TL;DR
Musk, along with several other prominent figures, has voiced support for the Telegram founder.
Over the last three days, Foundry USA and Antpool have controlled 56.7% of the Bitcoin hash rate.
The largest WIF holder has increased their holdings by another 800,000, with a floating profit now exceeding $77 million.
The Vice Chairman of the Russian State Duma has urged the Ministry of Foreign Affairs to intervene in Durov's case.
French reports suggest Pavel Durov could be sentenced to up to 20 years in prison.
Members of the Russian State Duma have urged for the blocking of major French company websites.
French media claim that Pavel Durov was aware of being wanted in France but still chose to visit Paris.
The Telegram founder may face multiple charges in France, including fraud, money laundering, and terrorism.
Grab Your 7 Day Free Trial
You're invited to upgrade your subscription to our Premium membership with a 7 day FREE trial!
No catches. No strings attached. Just pure crypto alpha to get you ahead!
Upgrade now for:
All for just $15/month after the trial.
Don't miss out! Get your FREE trial today 👇
Alpha of the Day
FTX’s Reorg Plan Faces Major Pushback
Looks like FTX’s comeback tour hit a serious roadblock. The U.S. trustee and some creditors are not exactly rolling out the red carpet for the company’s reorganization plan. These folks seem to think that FTX’s proposal is as shaky as a Jenga tower at a party. With big financial stakes on the line, this is shaping up to be a showdown that could make or break the crypto giant’s future. Buckle up, because this legal drama is far from over.
Musk and Celebs Rally Behind Telegram’s Boss
Elon Musk, never one to shy away from controversy, is throwing his support behind Pavel Durov, the founder of Telegram, along with a band of other celebrities. It’s like a digital Avengers team-up, but instead of saving the world, they’re saving Durov from a sticky situation in France. Whether this show of solidarity will sway any legal outcomes is anyone’s guess, but it’s certainly adding some star power to Durov’s defense.
Foundry USA and Antpool: The New Bitcoin Power Couple
In the wild world of Bitcoin mining, Foundry USA and Antpool have taken the lead, controlling a whopping 56.7% of the Bitcoin hash rate over the last three days. This dynamic duo is flexing their mining muscles, and the rest of the industry is taking note. With such a significant share of the hash rate, these two are basically the Bitcoin equivalent of a power couple, setting the pace for everyone else.
Receive weekly Bitcoin summaries with news, insights and analysis on all things Bitcoin, all for free.
WIF Holder Scores Big with $77 Million Profit
The largest holder of WIF is living the crypto dream, adding another 800,000 to their stash and watching their floating profit balloon past $77 million. It’s the kind of success story that makes you wonder if you should’ve bought in when you had the chance. For now, this whale is swimming in cash, and the rest of us can only look on with a mix of envy and admiration.
Russian State Duma Steps Up for Durov
The Vice Chairman of the Russian State Duma is stepping into the ring, calling on the Ministry of Foreign Affairs to lend a hand in Pavel Durov’s legal battles. It’s a diplomatic Hail Mary, with Russia looking to protect one of its own tech moguls. Whether this will be enough to keep Durov out of hot water remains to be seen, but it’s clear the stakes are getting higher.
French Media Predicts a 20-Year Sentence for Durov
French media outlets are painting a grim picture for Pavel Durov, suggesting he could be staring down a 20-year prison sentence. That’s two whole decades of croissants and baguettes behind bars! It’s a shocking development for the Telegram founder, who’s now facing the possibility of a very long stay in the French penal system. Let’s hope his legal team is ready for the fight of their lives.
Behind-the-scenes stories from across the creator economy.
Russian Duma Members Call for French Website Blockade
In a move that screams “Cold War throwback,” members of the Russian State Duma are urging the government to block the websites of major French companies. It’s a digital tit-for-tat in response to the legal woes of Pavel Durov, and it could escalate tensions between the two nations. Whether this blockade will actually happen or is just political bluster remains to be seen.
Durov’s Risky Parisian Visit
According to French media, Pavel Durov knew he was on France’s most-wanted list but still decided to take a stroll through Paris. Call it bravery, call it recklessness, but Durov’s decision to visit the City of Light has definitely raised some eyebrows. Now, he’s facing the consequences of that choice, and it doesn’t look like the French authorities are in a forgiving mood.
Telegram Founder Faces a Laundry List of Charges
The legal troubles for Telegram founder Pavel Durov just keep piling up. Reports suggest he could be facing multiple charges in France, ranging from fraud to money laundering and even terrorism. It’s a legal nightmare that could see Durov spending a long time defending himself in court. With so many charges hanging over his head, the founder’s future is looking more uncertain than ever.
Startup insights, stories, and vibes sent to your inbox every Tuesday.
Follow us on X
Daily #Crypto Alpha | August 25 2024
• The U.S. trustee and certain creditors have opposed #FTX's reorganization proposal.
• Musk,… x.com/i/web/status/1…
— WAGMI | Crypto, DeFi & Web3 News (@wagmiglobal_)
6:26 AM • Aug 25, 2024
Check out the Podcast
Listen to crypto founders and our weekly roundup on your favourite podcast platform