Aug 1, 2023

"CoinDesk Daily" breaks down some of the top headlines from the world of crypto, including Justin Sun's efforts to help DeFi giant Curve after a recent exploit.

Video transcript

Bitcoin rhetoric on the campaign trail and curve finance gets a lifeline. Welcome to Coindesk Daily. I am your host Zach Seward filling in for Jen Senai. Let's take a look at the markets as Bitcoin is kicking off August in the red. The coin desk, Bitcoin price XPX index is currently trading under the $29,000 mark and it's a similar story for Ether which fell to a six week low today and is currently trading a little north of $1800 per coin traders in the options market. Betting on price weak de weakness over the next six months cause the Cryptocurrency to hit its lowest level since June 21st. According to Coindesk data, Tron founder, Justin Sun has stepped in to protect against a possible bad debt situation stemming from falling curve token prices. Blockchain data shows Sun purchased around 5 million crv tokens which amounts to about $2.3 million. The stable coin swapping giant suffered an exploit Sunday that drove down the price of its native token that put a $168 million stash of founder Michael Egorov money at risk of being liquidated. A possible restart of FTX for international customers. Bankruptcy administrators have filed a proposal that would organize its creditors into different classes of claimants. One class former FTX dot com customers may opt to pool their assets to create a rebooted platform not available in the US. Possible. Reboots have been hinted at before with filings from new CEO John J Ray, the third referencing an FTX restart or a 2.0 reboot back in May and presidential hopeful, Ron desantis says he will end the Biden administration's quote, war on Bitcoin and cryptocurrencies and quote if elected as commander in chief, the Republican governor from Florida made those comments during a campaign event in New Hampshire yesterday, President Biden has taken almost no direct actions on the industry leaving his record on crypto up to interpretation. DeSantis has previously promised to ban central bank digital currencies or CBD CS if he's elected. And that's a wrap for the coin desk daily. Check out more updates on coindesk dot com and we'll see you next time. Thanks.

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