COIN BUREAU NEWSFLASH! – (14/05/23) Here are some of today’s m | Coin Bureau Insider

COIN BUREAU NEWSFLASH! – (14/05/23)
Here are some of today’s most important headlines:

Jump Trading Faces Lawsuit Over Alleged $1.3B Profit from TerraUSD

According to court documents from May 9, a lawsuit accusing Jump Trading and its CEO, Kanav Kariya of market manipulation involving the failed algorithmic stablecoin TerraUSD (UST) in 2021 has been filed in an Illinois district court.

Specifically, the lawsuit accuses them of violating the Commodity Exchange Act, Commodity Futures Trading Commission (CFTC) regulations, and of common law unjust enrichment. The lawsuit claims Jump Trading signed several agreements with Terraform Labs and its affiliates to “provide market-making services for transactions in LUNA, UST and aUST.” These agreements also reportedly granted Jump Trading the “opportunity to purchase LUNA tokens at a steep discount, which could then be resold into the market to further Jump’s own profit.”

https://cointelegraph.com/news/jump-trading-faces-lawsuit-over-alleged-1-3b-profit-from-terrausd

‘Ancient’ Bitcoin Changes Wallets After 12 Years Dormant

Another dormant Bitcoin wallet has woken up after 12 years. The wallet, which reportedly purchased 139 Bitcoin for a bit over $2,250 dollars in June 2011, has transferred the BTC into a newly created Segwit address. The coins are now worth a staggering $3.5 million at current prices.

https://decrypt.co/140058/ancient-bitcoin-changes-wallets-after-12-years-dormant

‘Significant Risk’ Of US Treasury Running ‘Out of Funds’ Soon: Report

According to a recent report published by the U.S. Congressional Budget Office (CBO), the United States government is currently facing a “significant risk” of no longer being able to meet all of its financial obligations by as early as June. The report states that this is due to the U.S. government hitting its statutory debt limit of $31.4 trillion on Jan 19.

It stated,

“CBO projects that if the debt limit remains unchanged, there is a significant risk that at some point in the first two weeks of June, the government will no longer be able to pay all of its obligations.”

https://cointelegraph.com/news/significant-risk-us-treasury-funds-report

OpenAI’s Sam Altman Nears $100M Funding for Worldcoin Crypto Project

OpenAI CEO Sam Altman is reportedly in advanced talks to raise close to $100M in funding for his Worldcoin cryptocurrency project that is prepared to launch in the next few weeks. Altman is reportedly raising funds from both existing and new investors. Some of Worldcoin’s previous investors include Khosla Ventures, Andreessen Horowitz’s crypto fund, FTX founder Sam Bankman-Fried and internet entrepreneur Reid Hoffman.

https://www.ft.com/content/f1de2aee-ee13-45e1-bd61-0a269cd650d3