Former FTX CEO Sam Bankman-Fried is facing losing access to encrypted messaging apps. There’s something wrong with the Secret Network community. Bored Ape owners will be glued to their screens as they race for high scores against the deadline. This week we take a look at the three biggest cryptocurrency stories to watch out for. We also provide a calendar of data and events that have the potential to impact the market.
Request to close SBF’s communication
cryptocoin.comOne of the ongoing developments in FTX’s collapse now focuses on former CEO Sam Bankman-Fried’s ability to speak to potential witnesses that US prosecutors want to shut up. Prosecutors alleged that Bankman-Fried spoke to a present witness and suggested they could ‘examine each other’. He also texted Ryne Miller, the current general counsel of FTX USA, which officials claim may be a court witness.
Bankman-Fried’s current affiliation does not place any restrictions on contacting potential witnesses. As such, according to court documents, the former CEO spoke to other current and former FTX employees via email and Signal. Prosecutors are seeking a decision to stop him speaking to current and prospective witnesses via encrypted messaging apps.
Secret drama appeared in the cryptocurrency market
A bit of community fissure has opened up in the Secret community, with Secret Labs making accusations against the Secret Foundation and its founder, Tor Bair. Both companies are focused on supporting the privacy-focused Secret Network. Most notably, Bair has cashed out several million dollars in some SCRET tokens in late 2021. He immediately admitted that Bair’s claim was true. He said this information had previously been disclosed to Secret Labs. He noted that the tokens are out of date and employee compensation has not been made public.
Another claim was that the Secret Foundation lost $250,000 in a mismanaged OTC trade. Although in this section Bair said the amount was around $200,000, he had previously discussed the issue at the same governance forum in December. This statement came more than a year after the event. Both parties agreed that there should be changes in the way the foundation works. We may see changes in this direction in the coming weeks.
Race for high scores
Bored Ape owners have been filled with excitement this week with Yuga Labs’ newly released game. In the game called Dookey Dash, players fly down sewer pipes avoiding obstacles. To play the game you need the Sewer Pass, an NFT that can be purchased from secondary markets including OpenSea. These are available for Bored Ape and Mutant Ape owners.
So far the game has been played more than 4 million times and the trading volume of NFTs has reached $40 million. The main thing that players compete with is the high score. On February 8, each high score will be permanently linked to each Sewer Pass NFT. Some traders think that there will be rewards to be handed out to the highest ranked passes. With this in mind, players are doing everything they can to gain the advantage. Because next week we will see this rivalry moving towards a conclusion.
The data and event agenda of the week for crypto investors to follow
Tuesday, January 31
- DJED, Cardano’s (ADA) first stablecoin, to hit the market
- 18:00 – US Conference Board (CB) Consumer Confidence to be announced
Wednesday, February 1
- 13:00 – EU Core Consumer Price Index (CPI) and Consumer Price Index (Annual CPI)
- 16:15 – US ADP Non-Farm Employment Change data to be released
- 18:00 – US ISM PMI and US JOLTS data to be released
- 22:00 – Federal Reserve to announce rate decision (Event of the week)
- 22:30 – Fed Chairman Jerome Powell to speak at press conference
Thursday, February 2
- 15:00 – Bank of England (BOE) to announce interest rate decision
- 16:15 – EU Central Bank (ECB) to announce interest rate decision
- 16:30 – Applications for U.S. Unemployment Benefits will be announced
- 16:45 – European Central Bank (ECB) press release
- 17:15 – UK MB President Bailey will speak
- 18:15 – The President of the European Central Bank will speak
Friday, February 3
- 16:30 – US Non-Farm Payrolls data to be released
- 16:30 – January US Unemployment Rate to be announced
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