![\"This](\"https:\/\/img.decrypt.co\/insecure\/rs:fit:1536:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2021\/11\/twweet3.1%402x.png@webp\")
<\/span>There was a <\/span>flash crash<\/span><\/a> towards the end of the working week that sent the prices of all major cryptocurrencies tumbling down.\u00a0<\/span><\/p>\n The major sell-off was no doubt linked to news that Chinese property giant Evergrande filed for Chapter 15 bankruptcy protection in a Manhattan court, causing big asset holders to dump riskier investments like stocks and Bitcoin.<\/span><\/p>\n A great many tweets were going ’round alleging that Tether had vast exposure to Evergrande, although that is almost certainly misinformation. Tether itself denied any exposure to the beleaguered developer <\/span>back in 2021<\/span><\/a> and the dollar stablecoin issuer <\/span>completely eliminated<\/span><\/a> commercial paper (unsecured short-term promises of debt repayment by corporations) from its USDT reserves last year.\u00a0<\/span><\/p>\n In spite of the dubious alleged factoids going viral on Twitter this week, crypto\u2019s favorite social media platform remained a source of invaluable information for a plethora of other concerns.\u00a0<\/span><\/p>\n On Monday, entrepreneur and NFT trader Jeffrey \u201cMachi Big Brother\u201d Huang announced he was <\/span>dropping his defamation suit<\/span><\/a> against crypto\u2019s most popular sleuth ZachXBT.\u00a0<\/span><\/p>\n I am withdrawing my defamation suit against @zachxbt<\/a>. <\/p>\n Zach has many times in the past been of great service to the crypto community and pursuing legal action against him was a last resort but not the right path.<\/p>\n I appreciate that Zach has made important amendments to his\u2026<\/p>\n \u2014 Machi Big Brother (@machibigbrother) August 14, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n ZachXBT accused Huang of embezzling 22,000 ETH\u2014a whopping $36.9 million at today\u2019s price\u2014but following the lawsuit, the pair appear to have negotiated through the dispute and ZachXBT has softened the accusatory language. The blockchain gumshoe tweeted his own statement on the matter.\u00a0<\/span><\/p>\n 1\/2 Today @machibigbrother<\/a> has agreed to voluntarily withdraw the lawsuit. I have updated my article with additional context from Machi + edits from myself<\/p>\n While I am disappointed it went down the legal route in the first place I am appreciative we are able to find a resolution<\/p>\n \u2014 ZachXBT (@zachxbt) August 14, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n That same day, open-source blockchain funding platform Gitcoin announced a controversial new partnership with fossil fuel giant Shell. Critics\u2014including Ethereum <\/span>developers and advocates<\/span><\/a>\u2014accused Shell of using the Ethereum-based Gitcoin as a \u201cgreenwashing\u201d prop to deceive the public into thinking it\u2019s more environmentally conscious than it is.\u00a0<\/span><\/p>\n We’re happy to share that we’ve entered a collaboration with Shell to accelerate open-source innovation in the energy sector. Together, we’re driving sustainable solutions and making a positive impact on the world. Let’s dive in!https:\/\/t.co\/QG7QMOHN1t<\/a><\/p>\n \u2014 Gitcoin \ud83d\udfe2 (@gitcoin) August 14, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n Gitcoin\u2019s executive director Kyle Weiss wrote a Twitter statement too lengthy to produce, alerting critics that the deal was made after he personally asked for significant alterations to (or \u201credlined the fuck out of\u201d) Shell\u2019s proposal, and the process involved heavy internal wrangling within Gitcoin itself. He appeared to concede that “we (me and the team) fucked up.”<\/span><\/p>\n On Wednesday, blockchain intelligence platform Arkham shared details of 45\u2019s $2.8 million crypto holdings. Trump, who has long been <\/span>publicly skeptical of crypto<\/span><\/a>, holds at least half a million dollars worth of Ether.<\/span><\/p>\n Trump\u2019s Financial Statement from August 14th 2023 quotes a cryptocurrency balance of $2,806,341.<\/p>\n This is almost identical to the present balance of the largest royalty fee wallet associated with the @CollectTrump<\/a> NFT Project. pic.twitter.com\/Iidr0BoDuo<\/a><\/p>\n \u2014 Arkham (@ArkhamIntel) August 16, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n On Thursday, there were rumors of a potentially colossal mistake on Shibarium, Shiba Enu\u2019s Layer 2 Ethereum blockchain.\u00a0<\/span><\/p>\n It was a $1.7 million mistake, according to sleuthing done by Crypto Twitter news outlet Degen News.<\/span><\/p>\n That day, crypto asset manager Grayscale announced it needed fresh talent in its ETF department.\u00a0<\/span><\/p>\n Barely 24 hours later, <\/span>Bloomberg<\/span><\/i> ETF expert James Seyffart announced that those hoping to see the U.S. Securities and Exchange Commission (SEC) converting Grayscale\u2019s Bitcoin fund into an ETF will have to wait a bit longer.\u00a0<\/span><\/p>\n Entrepreneur, Dallas Mavericks owner, and Shark Tank star Mark Cuban criticized OpenSea, one of his own portfolio companies, for rolling back royalties.<\/span><\/p>\n Not collecting and paying royalties on NFT sales is a HUGE mistake by @opensea<\/a>. It diminished trust in the platform and hurts the industry. And I say this as an @opensea<\/a> investor @DevinFinzer<\/a><\/p>\n \u2014 Mark Cuban (@mcuban) August 18, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n That same day, OpenSea announced it was ending support for BNB.\u00a0<\/span><\/p>\n Starting today, you will no longer be able to create new listings for or make new offers on BSC NFTs. However, you will still be able to view, discover, and transfer BSC NFTs on our site.<\/p>\n \u2014 OpenSea (@opensea) August 18, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n\n
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