: Crypto Market Sees Movement as Investors React to Developments


Worldcoin to Allow Governments and Businesses to Utilize Its ID System

Worldcoin is reportedly looking to allow governments and businesses to use its iris-scanning and identity-verifying technology in an effort to onboard more users. Ricardo Macieira, the general manager for Europe at Tools For Humanity, which is behind the Worldcoin project, said the company is on a mission of “building the biggest financial and identity community.” According to the report, Worldcoin is hoping to potentially allow companies to use its digital identity system, eliminating the need to gather personal data.

MicroStrategy Returns to Profitability and Adds $4.4 Billion Worth of Bitcoin

MicroStrategy, one of the United States’ largest corporate holders of Bitcoin (BTC), returned to profitability in Q2 2023 amid Bitcoin’s price surge and disclosed it now holds $4.4 billion worth of the cryptocurrency. The second-quarter earnings reported $22.2 million in net income, a stark comparison to the $1.1 billion net loss recorded in Q2 2022. The company’s bitcoin holdings increased to 152,800 bitcoins as of July 31, 2023.

Judge Allows Terraform Labs to Subpoena FTX Entities

A United States bankruptcy judge has approved Terraform Labs’ request to serve subpoenas to FTX and FTX US. Lawyers for the FTX debtors agreed to the court order with no objections, according to the filings. Terraform Labs wants digital wallet records from entities connected to FTX to determine whether the exchange carried out a coordinated attack on the now-defunct Terra Luna ecosystem. The collapse of the TerraUSD stablecoin in May 2022 triggered the next wave of the crypto bear market, which eventually culminated in the collapse of FTX in November. Terra co-founder Do Kwon is currently serving a four-month sentence in Montenegro after being convicted of traveling with fake documents.

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 decisions.

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