New York Man Reportedly Admits to Bitfinex Hack; Coinbase’s Layer 2 ‘Base’ Gets a Launch Date

A guilty plea in the bit for next hack and more scrutiny for Binance. Welcome to Coin Desk Daily. I am your host Zach Seward in for Jenna. Let's kick things off with a look at the price of Bitcoin. The largest Cryptocurrency by market cap is hovering just above the $29,000 mark after the bank of England raised interest rates by a quarter percentage point. The central bank also warned borrowing costs are likely to remain high despite slowing inflation. C NBC reports. A New York man has admitted to being behind the 2016 hack of Biton Ilya Lichtenstein pleaded guilty this morning to a conspiracy to launder stolen Bitcoin that became worth nearly $5 billion. He was arrested alongside his wife, Heather Rosel Morgan last year until today. It was not known exactly who was behind the hack itself. The case lead to the biggest financial seizure in do history. Nearly 120,000 Bitcoin Binance may face department of Justice fraud charges but prosecutors are considering alternatives given the risk of an FTX style bank run. That's according to a report from Seo out last night, separately, Binance announced the appointment of a new deputy chief compliance officer. Today, several top executives recently left the crypto exchange reportedly due to the strain of dealing with multiple investigations. Binance and some of the executives have denied that reasoning. Coinbase has announced a date for the public launch of its layer two Blockchain called base. It will open to the public on August 9th after already going live for developers. Last month, the announcement comes as Coinbase gets ready to report earnings after today's closing bell. And that's a wrap for the coin desk daily. Check out more updates on coindesk dot com and we will see you next time. Thanks.