Crypto Market Overview January 9th | Dex-Trade

Crypto Market Overview January 9th | Dex-Trade

SBF Grabs Hold of Robinhood Stock and Wants to Keep FTX Customers Out

FTX co-founder and former CEO, Sam Bankman-Fried, (SBF) is trying to regain control of Robinhood (HOOD) stock, which is currently being contested by multiple parties, including SBF itself, FTX's new management, and bankrupt crypto lender Blockfi. At the moment, information is actively spreading in the crypto community that the US Department of Justice (DOJ) has officially seized the very 56,273,269 Robinhood shares that the parties to the conflict are trying to challenge. However, neither SBF nor the current representatives of FTX and Blockfi have yet commented on the situation. Sam has previously petitioned the Bankruptcy Court to dismiss an auto-suspension enforcement motion filed by FTX's new management on the disputed HOOD stock because (according to the SBF) the current executives of the bankrupt crypto exchange failed to live up to their obligations. Remarkably, in his lawsuit, Sam is literally asking for a portion of the funds from the total number of HOOD shares to pay for the team of lawyers handling his criminal cases. The founder of FTX argues that "financial inability to defend oneself has serious consequences, and is irreparable," while "FTX debtors face only the possibility of economic loss." Recall that we are talking about those shares that were bought with the funds of FTX clients...


Twitter Banned Messari's Ryan Selkis for Looking Like… Ryan Selkis

On Saturday, the co-founder and CEO of crypto analytics firm Messari, Ryan Selkis, was banned from Twitter for impersonating Ryan Selkis, but his account was later reinstated despite the ban being "permanent." After recovering his account, Selkis said that since Elon Musk "took over" Twitter last year, censorship on the social network has become much more ruthless. He also drew attention to other accounts, the owners of which impersonate him. Many of them are still active while his official account has been suspended. Therefore, Seliks called the incident “a sign of the decline” of the social network. In addition, Messari's CEO stated that the sudden nature of his account's ban raises some concerns about the future viability of Twitter in general, calling the situation on the social network a "dumpster fire": “I was basically suspended for no reason in terms of an actual violation. That should be pretty disconcerting for a lot of folks, to think that at the drop of a hat you could lose your entire social presence, even if it's not for a good reason.” So far, Selkis' main account, @twobitidiot, has 300,000 followers. He uses this account to comment on news related to cryptography and the crypto industry in general, as well as to communicate with members of the Web3 community.