BRC-20 tokens surge, but the price action in bitcoin is just the opposite. LedesmaLyllah reports
Interest in"Bitcoin Request for Comment" or BRC-20 tokens built with Ordinals and stored on the Bitcoin base chain haslifting their market value by several hundred percent. As of writing, the combined market cap of more than 8,800 BRC-20 tokens was $137 million, a staggering 682% rise from $17.5 million seen a week ago, according to data tracked by Ordspace.
The bankrupt crypto firm is the latest to face allegations of poor record-keeping in its corporate structure, in a court fight which is pitting its customers against Series B investors. In 2021, the firm – whose Celsius Network Limited arm had been warned to cease U.K. operations by that country's Financial Conduct Authority – set up a limited liability company in Delaware and sought to transfer assets through a series of financial transactions.
After the substantial transfer made in trueUSD got flagged by Whale Alert early Monday, Binance CEO Changpeng Zhao took to Twitter to say his platform has warned Sun it will take action if he used any of the funds to buy up large amounts of SUI tokens from Binance's Launchpool."Binance LaunchPool are meant as air drops for our retail users, not just for a few whales," Zhao said.
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