Aug 2, 2023

"CoinDesk Daily" takes a look at the crypto news making headlines as Litecoin (LTC) undergoes it's third "halving."

Video transcript

Sam Baman Free's defense goes on the offense and light coin undergoes another having welcome to Coin Desk daily. I'm your host, Zach Seward in for Jenna. All right, let's take a look at the markets. Bitcoin is pairing some gains after breaking above the $30,000 mark earlier, Ether is trading in the green around the $1800 mark. It's getting a slight boost as six firms file applications with the SEC for Ether futures. ETF S volatility shares was the first to file an application on July 28th. This comes weeks after we saw a rush of Bitcoin spot ETF filings. Light Coin has undergone its third having it's currently trading down nearly 5%. The Blockchain officially cut its block subsidy by 50% around 11 a.m. Eastern. That means miners have basically received a premeditated pay cut. Light coin founder Charlie Lee says having help achieve mass adoption without sacrificing network security, but Bitcoin and Light Coin undergo the process approximately every four years D I platform, Abracadabra is proposing 200% interest on a massive loan taken out by curve. Financial founder Michael Egorov. The $18 million loan currently has an interest rate of 18% if passed, the protocol would automatically sell crv tokens to liquidate the position unless topped up with more collateral. It comes as D five protocols scramble to protect themselves after curve suffered an exploit Sunday that drove down the price of its native token. And attorneys for Sam Bank Fried are pushing back against the DOJ S allegations that he tampered with witnesses. They say the justice department's request to revoke the FTX Founder's bond relied on an extremely thin factual basis. According to court filings, prosecutors allege that Bank Fried recently shared former Alameda research, Ceo Caroline Ellison's personal diary with the New York Times in an attempt to harass her ahead of his criminal trial in October. And that's a wrap for the coin desk daily. Check out more updates on coin de dot com and we will see you next time. Thanks.

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