News
Daily News Summary 11/7
July 11, 2024

Donald Trump to Speak at Bitcoin 2024 Conference
Former U.S. President Donald Trump has announced that he will be a speaker at the Bitcoin 2024 conference in Nashville, Tennessee. The event, one of the world’s largest Bitcoin conferences, will take place from July 25 to 27. In recent months, the likely Republican presidential candidate has strongly supported the crypto industry, garnering backing from several prominent figures in the crypto space.
BitMEX Pleads Guilty
The BitMEX crypto broker and derivatives trading platform, associated with Arthur Hayes, pled guilty on Wednesday to violating the Bank Secrecy Act. According to the U.S. Attorney’s Office for the Southern District of New York, the company intentionally failed to establish, implement, and maintain an adequate anti-money laundering (AML) program. From 2015 to 2020, BitMEX operated as one of the world’s leading crypto platforms without a compliant AML program as required by federal law. This led to Arthur Hayes, one of BitMEX’s founders, being sentenced to six months of home detention in 2022.
Compound and Celer Websites Attacked
The websites of Compound Finance, one of the longest-running decentralized finance applications, and the crypto lending platform Celer Network were both targeted in attacks that redirected users to malicious phishing sites. Compound DAO’s security advisor, Michael Lewellen, issued a community warning via X, advising users to avoid the platform’s website. Celer also released a warning to its users.
Pyth Network Solution Eliminates MEV
Oracle provider Pyth Network has launched Express Relay on the mainnet, providing a solution to the long-standing issue of Maximum Extractable Value (MEV), saving money for protocols and DeFi users. The solution was presented by Douro Labs and the Pyth Data Association today at the EthCC in Brussels.
MicroStrategy Plans 10-for-1 Stock Split
Business intelligence firm MicroStrategy, known for its significant corporate Bitcoin holdings, has announced a 10-for-1 stock split effective August 1. The company stated that this move aims to make its shares more accessible to investors. The distribution of the split shares is expected to occur after the close of trading on August 7, with trading resuming on an adjusted basis on August 8 at market open.