Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Here’s what has happened in crypto today. 

Winklevoss gives ultimatum to DCG’s Barry Silbert

Gemini co-founder Cameron Winklevoss has given Digital Currency Group and its CEO Barry Silbert a strongly-worded ultimatum — pay up or face a lawsuit. 

In his second open letter addressed to Silbert this year, Winklevoss slammed the DCG boss for allegedly delaying the resolution process for Gemini’s 232,000 Earn users through “abuse” of the mediation process.

Winklevoss says that around $1.2 billion in crypto is still owed to Gemini’s Earn users ever since the collapse of Genesis earlier this year. 

“I write to inform you that your games are over,” Winklevoss said. “Enough is enough.”

Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/ErsYpcEjQD

— Cameron Winklevoss (@cameron) July 4, 2023

The Gemini co-founder has now given Silbert an ultimatum, accept his firm’s “best and final offer” by 4 pm ET on July 6 — or face a lawsuit on July 7.

BlackRock refiles for spot Bitcoin ETF

BlackRock refiled its spot Bitcoin ETF filing and named Coinbase as its previously-unstated ‘surveillance-sharing’ partner.

JUST IN: BlackRock has re-filed for spot bitcoin ETF, the resubmission was dated 6/29, Nasdaq just posted tho. They just added Coinbase like everyone else. pic.twitter.com/UGq46DdLgu

— Eric Balchunas (@EricBalchunas) July 3, 2023

This news comes after a tumultuous week for would-be ETF filers. Citing improper paperwork, the United States Securities and Exchange Commission put a temporary halt on ETF applications from Blackrock, Ark, Valkyrie, WisdomTree, Invesco and others prompting a flurry of refiling activity. 

Related: Bitcoin traders torn between breakout and $28K dip as BTC price stalls

Poly Network’s losses may have been double than anticipated

Blockchain interoperability platform Poly Network may have lost more than $5 million in a hack that exploited Ethereum (ETH), BNB Chain, Polygon (MATIC), Avalanche (AVAX), Optimism (OP), and five other blockchains.

According to the latest findings by security firm Beosin, attackers have stolen about $10 million after liquidating ETH from Poly Network. Nonetheless, they may have failed to liquidate about $260 million due to poor market liquidity. 

@PolyNetwork2 exploiter has swapped a total of 5,196 $ETH (~$10.1M) on Ethereum.

Other tokens (~$260 million) may not be cashed out by the attacker due to low liqudity.

The fees for these addresses on Ethereum are from @Bybit_Official, @kucoincom, @FixedFloat, @ChangeNOW_io pic.twitter.com/rTxIvY993P

— Beosin Alert (@BeosinAlert) July 3, 2023

It has been just under two years since Poly Network’s last hack, wherein it lost an astonishing $600 million, thus becoming one of the largest bridge hacks in Web3 history.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.