BlockFi Customers Rejoice: $300 Million of Assets to be Returned

Legal Troubles and Regulatory Battles Plague the Crypto Industry ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap $1.10T (-2.75%) 24 Hour Volume $42.81 (-7.85%) Notable Movers[(PEPE) $0.000001279]( (-21.83%) Notable Movers (DeFi)[(SXP) $0.4559]( (+8.30%) Bitcoin Dominance 46.32%[(-0.61%)]( Bitcoin Price[(BTC) $26,397.80 (-3.83%)]( Ethereum Price[(ETH) $1,767.89 (-3.08%)]( Cardano Price[(ADA) $0.3656 (+1.27%)]( Today’s Top Stories [Crypto Twitter Attacks Coinbase Over Pepe Characterization]( Coinbase's recent newsletter has upset crypto Twitter, with users accusing the exchange of promoting a highly-speculative meme token and mischaracterizing the Pepe the Frog meme as a tool of racists. The rise of PEPE, a token based on the popular Pepe the Frog meme, is part of a broader trend of meme coins gaining popularity in the crypto space. [BlockFi Customers Can Get $300 Million of Their Assets Returned]( A judge has ruled that BlockFi's custodial wallet users are entitled to receive back nearly $300 million worth of assets that were frozen after the crypto lender filed for bankruptcy, which is a relief for thousands of customers who were unable to access their funds since the bankruptcy announcement. The judge's ruling allows BlockFi's trustee to begin the process of returning the assets to the custodial wallet users, who will have to verify their identities and provide proof of ownership. [Bitcoin Drops Below $27,000]( Bitcoin dropped below $27,000 over the past 24 hours and has been mostly trading below $30,000 since late April, as investors remain concerned about low liquidity and the ongoing banking crisis and drama over the debt ceiling in the U.S. [U.S. Chamber of Commerce Backs Coinbase in SEC Fight]( The US Chamber of Commerce has filed an amicus brief in support of Coinbase in its legal battle with the SEC over its proposed lending product, arguing that the SEC's lack of clarity and consistency in regulating digital assets is harming the economy and innovation. The Chamber's support for Coinbase is likely to be seen as a positive development for the cryptocurrency industry as a whole, and may help to shape future regulatory decisions in the sector. [$176 Million of Former Terraform Labs CEO Do Kwon’s Assets Frozen]( Do Kwon, the former CEO and co-founder of Terraform Labs, is facing legal troubles in both South Korea and the U.S., with more than $176 million worth of assets frozen by a Seoul court order due to suspicion of obtaining his wealth through criminal activities related to the collapsed Terra Luna blockchain project. Kwon was arrested in Montenegro in March 2023 and is currently awaiting extradition, with fraud charges in the U.S. that could result in up to 160 years in prison. [Read The Full Newsletter]( [Technical Analysis: BTC, ETH, NEAR, ADA, FTM and AVAX (May W2)]( Technical Analysis: BTC, ETH, NEAR, ADA, FTM and AVAX (May W2) Red week for the markets — let's take a look at the charts for the major pairs. [Read More]( [What Are Multi-Party Computation (MPC) Wallets?]( What Are Multi-Party Computation (MPC) Wallets? Dive into the world of multi-party computation (MPC) wallets, understand how they work, their benefits, risks, top options, and how to choose the right one for secure crypto storage. [Read More]( Thanks for reading! Have a great day — more news next week! [Facebook]( [Twitter]( [Instagram]( [Telegram]( Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? [Sign up here]( for Daily Newsletters, Promotions and Events and Prices [ADVERTISE]( | [CAREERS]( | [FAQ]( © 2023 CoinMarketCap [Unsubscribe]( [coinmarketcap.com]( CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States