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Hodler’s Digest: SBF Faces Jail, Bitcoin ETF Delayed, and SEC Appeals Ripple Case, Aug. 6-12

Hodler’s Digest: SBF Faces Jail, Bitcoin ETF Delayed, and SEC Appeals Ripple Case, Aug. 6-12

– Sam Bankman-Fried, former CEO of FTX, has had his bail revoked by a judge due to alleged intimidation of witnesses.

– The SEC has delayed its decision on approving a Bitcoin ETF proposed by ARK Investment Management and 21Shares.

– The SEC plans to appeal a court decision in its lawsuit against Ripple Labs over the classification of XRP.

– PayPal has launched a new stablecoin called PayPal USD (PYUSD) for payments.

– Eighteen venture capital firms, including Temasek and SoftBank, are facing a lawsuit for their involvement with the now-bankrupt FTX exchange.

– Bitcoin is trading at $29,379, Ether at $1,842, and XRP at $0.63.

– Only six out of 45 cryptocurrency wallet brands have undergone penetration testing for security vulnerabilities.

– The US Federal Reserve is increasing oversight of banks involved with crypto firms.

– The SEC has reached a $24 million settlement with Bittrex and its former CEO for operating an unregistered exchange.

– Cointelegraph explores the decentralization of blockchain games and the potential for video games on the blockchain.

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