Much of the current rally has been fueled by bullish sentiment around the meme’s endorsement by technology entrepreneur Elon Musk in the Trump administration.
The filing alleges that FTX was already insolvent and the FTT tokens used in a share repurchase transaction were worthless, and therefore the transfer should be classed as fraudulent.
The latest price moves in bitcoin (BTC) and crypto markets in context for Nov. 11, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.