Caroline Ellison, former co-CEO of Alameda Research, faces sentencing on September 24 after pleading guilty to fraud charges related to the collapse of FTX.

Caroline Ellison, the former co-CEO of Alameda Research, will be sentenced on September 24, 2024, after pleading guilty to multiple charges related to the collapse of FTX in December 2022. Ellison, once in a relationship with Sam Bankman-Fried, the former FTX CEO, is facing charges of fraud and conspiracy that could lead to a maximum penalty of 110 years in prison. However, her sentence will likely be reduced due to her cooperation with prosecutors. The collapse of FTX left billions of dollars in consumer losses, affecting a wide range of investors globally.

Ellison’s legal team is working to protect her privacy ahead of the sentencing, requesting that details about her living situation and the names of her friends be redacted to avoid potential harassment. The intense media attention around Ellison has raised concerns about her safety, especially given past attempts by Bankman-Fried to release her private information. While Ellison's sentencing is set for September, other FTX executives, including Gary Wang and Nishad Singh, also await their court dates, with Wang scheduled for November and Singh in October.

MicroStrategy Buys 18,300 More $BTC🍊

MicroStrategy has purchased an additional 18,300 bitcoin, bringing its total holdings to 244,800 BTC worth approximately $14 billion.

In a move that continues to solidify its position as the largest corporate holder of bitcoin, MicroStrategy has added 18,300 more BTC to its reserves. The company spent around $1.11 billion on this latest purchase, at an average price of $60,408 per bitcoin. This acquisition brings MicroStrategy’s total bitcoin holdings to 244,800 BTC, worth approximately $14 billion. Michael Saylor, the company’s executive chairman, has been vocal about his belief in bitcoin's long-term value, with the company buying at an average price of $38,585 per coin since they began accumulating in 2020.

This latest purchase comes from MicroStrategy's sale of shares, an initiative that raised $1.11 billion to fund the acquisition. This follows a similar move in August, where the company purchased 12,222 BTC. Despite the volatile nature of the market, MicroStrategy remains bullish on bitcoin, continuing its buying spree even as the company's stock price saw minimal movement following the announcement. This strategy reflects the company's broader mission to tie its future closely to the performance of bitcoin, aiming to benefit from its potential long-term appreciation.

DeFi On Solana Hits New High, 33M+ $SOL Locked📊

Solana's DeFi ecosystem has reached an all-time high with 33 million SOL locked in protocols, signalling continued growth in decentralized finance on the network.

The Solana blockchain has hit a major milestone, with 33 million $SOL tokens locked in decentralized finance (DeFi) protocols. This new all-time high is primarily driven by growth in liquid staking and the strong performance of DeFi protocols like Raydium and Jupiter Perps. Raydium continues to hold the largest share of SOL locked, while Jupiter Perps also reached a record $17.5 billion in trading volume. These developments highlight the ongoing expansion of the DeFi market on Solana, as more users and projects engage with the network.

The surge in locked SOL is part of a broader trend in the DeFi and lending markets. Lending protocols, led by Kamino Finance, have seen total value locked (TVL) in Solana's lending platforms grow to 14 million SOL. This comes as the Solana stablecoin market also makes a comeback, returning to pre-FTX collapse levels. The ecosystem is seeing fresh innovation, with projects like Renzo and Carrot introducing new products, ensuring that Solana’s DeFi space continues to evolve. As Solana prepares for its Breakpoint event, the momentum in its ecosystem is likely to continue.

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Solana’s Biggest Event Yet: Breakpoint 2024 🇸🇬

Solana Breakpoint 2024, a major gathering for developers and creators, will take place in Singapore from September 20-21, focusing on innovation and community growth.

Solana Breakpoint 2024, set to take place in Singapore from September 20-21, promises to be the biggest event in the Solana community yet. The conference aims to bring together developers, creators, and enthusiasts from across the globe for two days of talks, networking, and exclusive events. With a strong emphasis on innovation, Breakpoint will provide developers with subsidized access to ensure they can participate and showcase their skills. For creators, this event is an opportunity to exhibit their work and collaborate with like-minded individuals in the burgeoning web3 space.

In addition to the main event, Breakpoint also offers scholarships for students, empowering the next generation of developers and innovators. By providing a platform for both learning and creativity, the conference is more than just a gathering—it's a hub for the Solana community to shape the future of blockchain technology. As the ecosystem continues to grow, Breakpoint is set to be a key moment for the community, attracting a diverse range of participants ready to push the boundaries of what's possible in the world of decentralized applications.

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