ChainCatcher news, according to The Block, former FTX user Alexander Nikolas Gierczyk has filed a lawsuit in the U.S. District Court for the Southern District of New York, accusing the hedge fund Olympus Peak of violating an agreement regarding additional bankruptcy claim proceeds. It is reported that Gierczyk transferred his bankruptcy claim worth $1.59 million to Olympus Peak at a 58% discount in November 2023.Recently, U.S. Bankruptcy Court Judge John Dorsey in Delaware approved the FTX asset restructuring plan. The plan is expected to repay FTX creditors between 129% and 146% of the claim value at the time of the bankruptcy filing in fiat currency. According to the lawsuit documents, based on this repayment ratio, Olympus Peak is expected to profit between $1.1 million and $1.4 million from Gierczyk's claim.The lawsuit documents indicate that although Gierczyk transferred the claim at a discount, the agreement with Olympus Peak included an "excess claim clause." This clause was originally intended to allow Gierczyk to receive additional compensation in the same proportion if the bankruptcy distribution exceeded expectations. However, the plaintiff's attorney stated that Olympus Peak has explicitly indicated it will not fulfill its obligations under this clause.

ChainCatcher news, global cryptocurrency exchange BXTEN announced on the 4th that it has signed an investment agreement with Indonesia's state-owned electricity company (PLN) and the broadcast media ICONPLAY operated jointly with SKYLBSTV.Through this investment agreement, BXTEN becomes the major shareholder of ICONPLAY SKYLBSTV and plans to focus its investment on expanding ICONPLAY's broadcasting business and enhancing content in the global market. BXTEN will allocate investment funds to expand ICONPLAY's IPTV server infrastructure and OTT business network, and develop joint marketing and promotion strategies in Indonesia.In addition, ICONPLAY plans to collaborate with Indonesian universities and educational institutions to launch a Web3 education program within the next 1-2 years, aiming to leverage BXTEN's expertise in blockchain content.A representative from BXTEN stated, "As a global Web3 platform, collaborating with Indonesia's national broadcasting company on media business is an innovation in the blockchain industry," and added, "With the expansion of ICONPLAY's infrastructure, both companies will position themselves as hubs for global blockchain content, including Web3 educational content and AI-driven blockchain technology."It is reported that BXTEN previously launched the blockchain and Web3 professional channel INDOCRYPTO on ICONPLAY last September, thus entering the Indonesian media industry.

ChainCatcher news, Premier League clubs have reached sponsorship agreements totaling nearly £130 million with crypto companies in 2024, marking a resurgence in the crypto market and a surge in sports partnerships.SportQuake data shows that crypto companies have invested nearly £130 million ($170 million) in sponsorship for the Premier League this season, a year-on-year increase of 30%. This figure may further increase as more deals are expected in the 2024/25 season.

ChainCatcher news, according to The Block, U.S. House Financial Services Committee senior Democrat Maxine Waters stated that she hopes to reach a "significant agreement" on stablecoin legislation by the end of this year.Waters emphasized that the new legislation should prioritize consumer protection and strong federal oversight, while allowing multiple pathways to create stablecoins, but the Federal Reserve must play a leading role.

ChainCatcher news, the decentralized cryptocurrency exchange Mango Markets is considering a $500,000 settlement agreement with the U.S. CFTC. According to a statement on its Discord server and a proposal on its governance page, the exchange is facing CFTC charges for allegedly not registering as a commodities exchange, illegally providing services to U.S. users, and failing to conduct customer identity verification.Mango Markets' legal representatives proposed to avoid litigation by paying a fine, but do not admit or deny any wrongdoing. The proposal needs to be voted on by the holders of Mango Markets' governance token MNGO, and current results indicate it is likely to be approved. Additionally, the CFTC commissioners must also approve the agreement.It is reported that Mango Markets previously reached a settlement with the U.S. SEC, paying approximately $700,000 in fines. According to a post by its legal representatives on its Discord server, Mango DAO's legal fees have reached $148,176, with additional costs exceeding $78,000 thereafter.

ChainCatcher news, according to The Block, Bitfarms and Riot Platforms have reached a settlement, which may mean the end of the acquisition dispute between the two Bitcoin mining companies. According to the terms of the agreement, Bitfarms co-founder Andres Finkielsztain has resigned from the board, and Riot-nominated independent director Amy Freedman (a corporate governance and capital markets expert with over 25 years of experience) will take over his position, effective immediately. Riot has agreed to withdraw its amended request and accept the regular standstill provisions until Bitfarms' 2026 annual meeting.Currently, Riot holds 19.9% of Bitfarms' common stock. Under the settlement agreement, Bitfarms has granted Riot certain rights, allowing Riot to purchase additional shares of the company as long as Riot holds 15% or more of the outstanding common stock. However, under the standstill provisions, Riot is still prohibited from acquiring more than 20% of Bitfarms' shares without prior board approval unless Riot intends to make another formal acquisition.On Monday, Riot stated that it intends to regularly review its investment in Bitfarms and may increase or decrease its stake in the company.

ChainCatcher news, the re-staking protocol Helix Labs has completed a $2 million Pre-Seed financing round, led by Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group. This financing will accelerate the increase of L1 asset application scenarios, solve the cold start problem of L3, and promote Cardano liquidity into a broader DeFi ecosystem by providing liquidity and users.Helix Labs aims to enhance the yield opportunities for non-Ethereum L1 asset holders and support future MoveVM Rollups through liquidity abstraction and the OmniVM technology stack. By enhancing token utility, expanding EigenFi capacity, and providing liquidity as a service, it offers greater returns to users and brings more liquidity to DeFi. Helix Labs has joined the Move Collective accelerator program of Movement Labs, and the protocol will allow Cardano's ADA token holders to stake while obtaining liquid-staked ADA, which can then be bridged to Movement, thereby unlocking approximately $12 billion in liquidity for Cardano.

ChainCatcher news, according to Cryptoslate, BlackRock has revised its custody agreement with Coinbase, updating the operational procedures for the iShares Bitcoin Trust ETF. According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on September 16, the revision to the Coinbase Prime Broker agreement aims to improve the withdrawal process and changes in asset management during unsettled transactions.These modifications have shortened the processing time for Coinbase Custody when handling withdrawals from Vault balances to public blockchain addresses, even though transaction credits remain unsettled. The agreement also allows the trust to withdraw Bitcoin from Vault balances or trading balances to public blockchain addresses, provided that the total balance in the account after the withdrawal equals the amount of unsettled transaction credits.According to the filing with the SEC, the revision updated Section 2.1 of the custody service agreement. Based on specific balance requirements, Coinbase Custody must now process requests to withdraw digital assets to public blockchain addresses within 12 hours of receiving instructions from the trust or its authorized representative.

ChainCatcher news, according to Cointelegraph, Bitcoin mining company Bitfarms announced a hosting agreement with Stronghold Digital Mining to add 10,000 Bitmain T21 mining machines to its Panther Creek mining facility in Pennsylvania, with operations set to begin on October 1, 2024, which will increase Bitfarms' hash rate by 2.2 EH/s.It is reported that Bitfarms will pay Stronghold a fee equivalent to 50% of the profits generated by the miners, which will be renewed annually according to the terms of the hosting agreement until either party decides not to renew the contract.

ChainCatcher News, September 6, 2024, DeepBrain Chain (DBC) and DeepLink Protocol (DLC) officially signed a strategic cooperation agreement with the Korea Internet PC Culture Association (IPCA). This collaboration aims to leverage the high-performance computing resources of idle PC rooms in Korea to support the development of AI technology and the practical application of blockchain technology.IPCA manages approximately 3,000 member internet cafe chains in Korea, covering more than 20,000 internet cafes nationwide. Through this cooperation, the high-performance computing equipment in these cafes will provide the necessary computing power for AI inference and development projects during idle times, thereby achieving efficient resource utilization. For cafe owners, this collaboration not only brings a new revenue model but also improves the utilization efficiency of their equipment.DeepBrain Chain plans to expand its AI public chain network through this cooperation, enhancing its global node count and network stability. Meanwhile, the advanced technology of DeepLink Protocol will further optimize the use of computing resources in cafes, helping to achieve smoother game streaming services and AI computing. This collaboration marks a deep integration of AI technology and blockchain technology in traditional industries, which will play an important role in more fields in the future.Through this strategic cooperation, both parties expect to promote the large-scale implementation of cloud internet cafes in Korea, significantly reducing investment and operational costs for store owners and improving return on investment (ROI). This initiative is expected to enhance the ecological influence of DBC and DLC in Korea and significantly increase their number of token-holding users, further consolidating their position in the Korean market.

ChainCatcher news, according to official sources, Compound has initiated a new proposal 323, which suggests extending the collaboration with Gauntlet in risk management, yield optimization, and incentive optimization for another 12 months. Voting is expected to start in two days.It is reported that Gauntlet renewed the cooperation agreement with Compound last September, which will last until September 27, 2024.

ChainCatcher news, Ripple Labs' legal team has requested to suspend the payment of the $125 million fine imposed by the ruling on August 7, 2023, and the SEC has agreed to postpone the payment until after September 6. Ripple proposed to deposit 111% of the judgment amount (approximately $139 million) into a bank account until the appeal period ends or the appeal outcome is determined. This move may indicate that the SEC will appeal.Ripple CEO Brad Garlinghouse called the ruling a "victory," and the company stated it would "respect" the fine. The case is presided over by Judge Analisa Torres, and if an appeal occurs, it would mean that the dispute between Ripple and the SEC is not yet resolved. The SEC had accused Ripple of raising funds through the sale of XRP as an unregistered security, but the judge previously ruled that the sale of XRP on exchanges does not constitute a security. The current price of XRP is $0.56, having increased by approximately 0.15% over the past 30 days.

ChainCatcher news, the options protocol Lyra has announced its rebranding to Derive, which represents its vision for decentralized derivatives and future development roadmap.Derive is now a foundational component of the decentralized finance ecosystem, providing financial applications and product support for various integrators, traders, and institutions. The goal is to make the protocol and infrastructure easily accessible.In the coming weeks, Derive will share its roadmap and partnerships. Updates on the DRV token will be released on September 4th.

ChainCatcher message, the on-chain intellectual property agreement Story Protocol has announced on X that it has launched the public testnet Iliad, and users will be able to bring IP assets into the Story Network in the next 48 hours.

ChainCatcher news, according to Cointelegraph, the U.S. Attorney's Office opposes a request made by former FTX Digital Markets co-CEO Ryan Salame to withdraw his guilty plea related to campaign finance violations. In documents submitted to the U.S. District Court for the Southern District of New York on August 26, prosecutors stated that they would oppose Salame's legal team's petition, which is to be filed in writing by September 4.The former FTX executive's attorney previously submitted a petition to correct errors, attempting to have the court overturn Salame's plea agreement, which resulted in Salame being sentenced to seven and a half years in prison. Salame claims that prosecutors implied during plea negotiations that they would not investigate his partner, Michelle Bond, but on August 22, authorities announced an indictment against Bond, accusing her of violating campaign finance laws while running for a U.S. House seat in 2022. The documents state: "Salame's petition is based on a (clearly erroneous) allegation. That is: he pleaded guilty because government representatives indicated that if he pleaded guilty, the government would cease its investigation into Bond's and Salame's alleged conspiracy to commit criminal campaign finance violations."

ChainCatcher news, according to CNBC, former FTX executive Ryan Salame seeks to withdraw his plea agreement, claiming that the federal government violated the agreement to terminate the investigation of his partner.In a filing submitted on Wednesday, Salame's attorney requested to withdraw the plea agreement and accused the government of violating a key provision of the agreement, which was not to investigate his partner Michelle Bond. The motion states: "The government used plea negotiations to threaten Salame's partner and her family."

ChainCatcher news, according to Protos, Swan Bitcoin CEO Cory Klippsten explained the reasons for pausing the IPO and large-scale layoffs.Cory Klippsten stated: "The IPO plan was put on hold due to disagreements with a major financing partner for the custody mining business, leading to an inability to achieve the expected cash flow in the short term. Swan increased marketing expenses and hired more employees in anticipation of submitting IPO documents for SEC approval, but as the reasons for the large expenditures and funding disappeared, we had to cut back on marketing and personnel."Previous news, the Bitcoin financial services company Swan Bitcoin has abandoned its plans for a public listing, closed its managed mining department, and laid off employees in multiple departments.

ChainCatcher message, SunPump announced that it has reached a partnership with HTX Futures for meme ecosystem and listing cooperation. Outstanding meme projects on SunPump will have the opportunity to be listed on HTX Futures, thereby helping the meme ecosystem on the TRON blockchain reach new heights.It is reported that Sun Pump is a sub-product of Sun.io, and it is the first platform in the TRON ecosystem dedicated to fair launching of meme coins. The Beta version was officially launched on August 13.

ChainCatcher news, the Hong Kong-listed company SDM Education Group announced that it has signed a Series A strategic investment agreement with the digital asset trading platform BiFinance. The two parties will engage in long-term cooperation in the fields of blockchain technology, real-world assets, and digital assets.According to SDM Education Group's disclosure, BiFinance's Series A financing is valued at 100 million USD. The framework agreement between the two parties aligns with the group's business strategy to explore opportunities in related industries. The group's directors believe that they will be able to leverage the expertise and experience of the contracting party in blockchain technology, real-world assets, digital assets, education, swallowing and speech therapy, and photography (if applicable) to help develop new business activities and strengthen existing business segments.