💰️ FTX recovers $7 billion in liquid funds

Good Morning! Welcome to Coinsauce Daily, your go-to newsletter for the top crypto stories, insights and updates. We provide you with high-quality newsletters 6 times a week so that you don’t skip a beat in the crypto-verse. So let’s dive straight into the updates.

Trending over the weekend 👇️ 

1. 👀 Lost and found - FTX recovers $7 Billion in liquid assets.

2. 🤔 Challenging Monopoly - Jack Dorsey criticizes Apple and asks Tim Cook to embrace Bitcoin.

3. 🤑 $$$ Corner - 16 web3 projects raise over $40 million projects in the past 7 days.

Unmasking Deception 😷 

FTX, under the leadership of CEO John Ray, has successfully recovered approximately $7 billion in assets thus far, with ongoing efforts to locate an additional $2 billion to cover misappropriations ❗️ 

According to the FTX Debtors' second interim report, the estimated amount of misappropriated customer assets stood at ~$8.7 billion, with a significant portion, around $6.4 billion, consisting of fiat and stablecoins.

The ill-gotten gains were directed towards political and charitable donations, and investments and acquisitions like luxury real estate.

Unsurprisingly, the former FTX leadership intentionally concealed their actions, with the assistance of a senior FTX Group attorney and other individuals.

The $FTT token surged 32% upon the news of the recovery of funds. After all, who can stop speculators from speculating, eh? 😅 

Clash of the Titans 💥 

Former Twitter founder and CEO, Jack Dorsey, sparked a Twitterstorm as he openly questioned Apple CEO Tim Cook about the absence of Bitcoin support in Apple Pay 🤔 

Dorsey's query comes on the heels of Apple's controversial decision to remove the Damus app from the App Store, which featured a Bitcoin tipping feature that allowed users to tip sats without the need for a bank, payment card or government permission.

This incident has ignited concerns surrounding Apple's grip on the App Store and its restrictive stance towards cryptocurrency-related apps 🔍️ 

As this saga unfolds, we promise to keep you up to date with any developments that could have a potential impact on the digital asset landscape and the role of established players in the crypto revolution in the future.

Fundraising feast ❗️ 

The meteoric rise in VC funding across the metaverse and crypto has been witnessing a long breather, thanks to the shift in narrative towards AI, and the ongoing crypto bear market.

Despite VC funding across web3 projects nosediving over 82% since the past year, last week showed a glimmer of hope on the funding horizon.

In the past 7 days alone, the top 16 fundraising projects managed to secure a noteworthy total of over $40.7 million 💰️ 

As we inch closer and closer to the bitcoin halving, it won’t be surprising to see a sudden up tick in funding, especially with institutional interest on the rise!

Remember folks, the most revolutionary projects are generally made in the bear market when there is no retail hype. So, keep looking and DYOR intensively! The list of 16 projects and the funding they received can be seen below 👇️

Meme of the day

Memecoin speculators still holding on to their bags like.. 😂 

Thank you for tuning in for today’s updates. We hope you enjoyed our insights, highlights and updates. Subscribe to our social media handles for the latest stories from the world of crypto. Until tomorrow, happy trading!

Disclaimer: This newsletter is educational and does not constitute financial advice. You must exercise caution and conduct your research before making any financial decisions.

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