Cryptocurrency
Figure Markets Works with Shareholder of Ionic Digital to Investigate Potential Board Misconduct

[PRESS RELEASE – San Francisco, California, September 7th, 2024]
Figure Markets today announced that, together with Veton Vejseli, a shareholder of Ionic Digital, it has requested access to certain company records under Section 220 of the Delaware General Corporation Law. This request seeks information to investigate potential misconduct by the Board of Directors and assess their performance of fiduciary duties.
Figure Markets and Mr. Vejseli believe access to these records (the “Books and Records”) is crucial for protecting shareholder interests. This request arises from concerns about potential self-dealing behavior by board members and actions that may have disadvantaged shareholders. Specific areas of investigation include:
- Agreements with Hut 8 Corp., an owner of bitcoin mining operations that operates as a direct competitor to the Company and whose CEO control Ionic’s board seats.
- Excessive Board compensation packages.
- Restrictions on trading Ionic stock.
- Delays in registering the company’s Class A Common Stock.
Based on interactions with the Board, public filings, and other information, Figure Markets and Mr. Vejseli believe the Board may be prioritizing its own interests over those of shareholders. This pattern of behavior is allegedly evidenced by:
- Rejection of Figure Markets’ proposals during Celsius bankruptcy proceedings.
- Approval of deals with Hut 8 that seemingly circumvent shareholder oversight.
- Self-appointment of key decision-makers in the Chapter 11 process.
- Generous compensation packages for Board members.
- Unreasonable delays in listing and registering Ionic’s stock.
“Having been involved in the Celsius bankruptcy from the beginning, it’s unfortunate how creditors have been treated,” said Mike Cagney, CEO of Figure Markets. “We hope by forcing a special shareholder meeting to improve Ionic’s management, governance, and strategy, we can salvage value for shareholders.”
In response to widespread shareholder dissatisfaction, Figure Markets initiated a grassroots social media campaign aimed at securing 25% of Ionic shareholders to call for a special shareholder meeting. Remarkably, despite the challenge of rallying 86,000 shareholders, none of whom hold more than 1% of the stock, Figure Markets has successfully garnered support from 29% of the outstanding shareholders.
Figure Markets and Mr. Vejseli believe the Board’s actions may constitute gross negligence and warrant removal. They also express concern that these actions may have stripped shareholders of their voice in company governance. Access to the Books and Records represents a critical step towards restoring shareholder democracy at Ionic.
This inspection request will allow Figure Markets and Mr. Vejseli to investigate potential misconduct and assess the Board’s performance of its fiduciary duties. They urge the Board to act with urgency and collaborate constructively to address shareholder concerns.
The full text of the Books and Records demand can be found here.
About Figure Markets
Figure Markets is democratizing finance through blockchain. We’re building the exchange for everything – a decentralized custody marketplace for crypto, stocks, bonds, credit and more. We’re bringing best in class leverage, margin trading, and liquidity to our exchange, while offering our members extensive borrowing options and unique investment opportunities. Figure Markets puts our members in control of their assets and data, disintermediating legacy brokers, exchanges and lenders.
Figure Markets is backed by leading venture capital firms and strategic partners, including Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital and CMT Digital. Figure Markets was founded by a seasoned team of entrepreneurs and operators from TradFi, fintech, and DeFi, including Mike Cagney and June Ou.
Learn more at www.figuremarkets.com.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!
Cryptocurrency
XRP Prices Hit 7-Week Peak as This Crucial Metric Suggests Further Gains

There’s an evident uptick in the cryptocurrency market, especially when it comes to altcoins, as many have marked notable gains of up to 5% on a 24-hour scale.
Ripple’s native cross-border token is among the examples, as the asset jumped to $2.4 for the first time since late May today.
One of the possible reasons behind the price pumps in the past few hours could be linked to US President Trump’s call for a massive interest rate cut by the Federal Reserve. After all, riskier assets like crypto should benefit from such a monetary move.
XRP is among the top performers on a daily scale, climbing by nearly 4% and reaching the aforementioned seven-week peak. Moreover, the fourth-largest cryptocurrency has gained over 25% since its monthly bottom at the end of June at $1.9 during the Israel-Iran war.
According to data shared by Santiment, Ripple’s price pump could also be attributed to large investors accumulating substantial portions of its supply. In fact, the number of wallets holding at least a million XRP reached a new all-time high yesterday at 2,743. Today, the number is just shy of that peak, Santiment said.
XRP’s market value has hit a 7-week high, crossing above $2.39 for the first time since May 23rd. What to watch for are the rising number & collective balances of whales holding at least 1M $XRP.
There are currently 2,742 wallets holding at least 1M XRP, one off from… pic.twitter.com/UPPlSWq7TD
— Santiment (@santimentfeed) July 9, 2025
The analytics platform believes this shows growing confidence in XRP’s future. Additionally, smaller (retail) investors could follow suit by seeing this accumulation pattern by the so-called ‘smart money,’ which might result in further gains for Ripple’s token.
The XRP Army has certainly been vocal about its bullish belief in the asset’s price trajectory, and some analysts have indicated that reclaiming the $2.38 resistance could result in a quick 12% surge to $2.60.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Cryptocurrency
Bitcoin Price Rises Above $109K as Trump Calls for Biggest Interest Rate Cut in History

US President Donald Trump continues to state that the nation’s central bank keeps the interest rates too high and urged for another cut.
Unlike the previous similar occasions, though, he was rather radical this time, claiming that the Federal Reserve needs to slash the rates by at least three points.
First, President Trump mentions that higher rates are costing the US more money on interest expense.
At a high level, this is true.
Annual interest expense on US debt has reached $1.2 TRILLION over the last 12 months.
The US is now paying $3.3 BILLION in interest per day. pic.twitter.com/22N9M2PdFX
— The Kobeissi Letter (@KobeissiLetter) July 9, 2025
According to the Kobeissi Letter, the US now pays well over $3 billion in interest alone per day. If Trump’s recommendation is followed by the Fed, then, he said, it would save $360 billion per year.
However, the analysts at Kobeissi said the only debt that matters is the public one, which is at around $29 billion. Their analysis claims that if the rates on that entire amount are cut by 300 bps, the “US could save $290B x 3 = $870B/year.”
“However, refinancing all of this debt immediately would be impossible. Realistically, 20% could be refinanced in year 1 to save ~$174B.”
Although these numbers sound promising, there are certain drawbacks to such a potential rate cut, especially when it comes to inflation. It would be three times bigger than the current record seen in March 2020, when the Fed reduced the rates by 100bps.
This would come with a US economy that is already growing at +3.8% YoY.
As a result, we would expect to see a resurgence in CPI inflation, likely exceeding 5%.
And, while it would initially send stocks higher as seen in March 2020, there’s no such thing as “free money.” pic.twitter.com/K5vRmp8Ay8
— The Kobeissi Letter (@KobeissiLetter) July 9, 2025
The Kobeissi Letter further warned that mortgage rates would drop from 7% to 4% into a market that “has already seen prices rise +50% since 2020.” The analysts suggested that prices can surge by another 25%.
Nevertheless, such a move should be highly beneficial for riskier assets like bitcoin. The cryptocurrency’s price is up by around 1% in the past day, and since Trump’s recommendation, it now stands close to $110,000.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Cryptocurrency
Threshold Network’s tBTC is Now live on Sui: Ushering in a new era for Bitcoin DeFi

[PRESS RELEASE – Texas, United States, July 9th, 2025]
Key Takeaways:
- Resolving Bitcoin’s Utility Paradox: tBTC on Sui Eliminates the Choice Between Security and Utility.
- Web3 Benefits with Web2 Ease: Experience Bitcoin DeFi with 400ms finality and near-zero fees on Sui’s high-performance network.
- Unprecedented Capital Efficiency: Bitcoin liquidity flows freely across an ecosystem of protocols, maintaining deep liquidity without fragmentation.
- Complete Bitcoin DeFi Suite: Immediate access to trading, lending, and leveraged DeFi strategies through tBTC, backed by 1:1 Real Bitcoin.
tBTC Meets Sui: Liberating Bitcoin from Digital Vaults
Threshold and Sui have announced a major integration to bring tBTC, the leading decentralized Bitcoin asset, to the Sui blockchain, engineered for mass adoption. This collaboration unlocks access to over $500 million in Bitcoin liquidity for Sui’s high-performance DeFi ecosystem, known for its near-zero fees, sub-second finality, and exceptional capital efficiency.
Threshold Network’s tBTC is a decentralized, trust-minimized onchain version of Bitcoin that preserves Bitcoin’s core principles while enabling liquidity across DeFi ecosystems. Now live on Sui, tBTC empowers users to trade, lend, and engage in advanced DeFi strategies within a secure, scalable environment, with transaction finality as fast as 400 milliseconds.
Sui will be the first non-EVM chain to support direct minting on the Threshold app, expanding accessibility and reinforcing its position as a premier destination for Bitcoin liquidity. On Sui, tBTC can participate in DeFi strategies within a high-speed, scalable environment—from trading and lending to more specialized use cases, such as serving as collateral on protocols like Bucket, while preserving its core properties.
“Bitcoin was designed to be used, not locked away,” says Callan “Sap” Sarre, Co-founder and CPO at Threshold Labs. “With tBTC on Sui, we’re combining the security of threshold cryptography with a high-throughput network to create a new standard for Bitcoin utility.
The integration will expand Sui’s growing Bitcoin ecosystem across four Sui-native protocols:
- Bluefin: Trade tBTC across select pairs and unlock additional APR rewards.
- Bucket: Save, spend, and explore Bitcoin-powered DeFi with ease.
- AlphaLend: Access advanced lending pairs and APR% rewards by supplying tBTC.
- AlphaFi: Enable high-leverage BTC DeFi strategies with auto-looping vaults.
Additionally, users can also mint tBTC directly on Sui via the Threshold dApp, providing a secure and easy access point to BTCFi. Key benefits of tBTC on Sui include:
- Sub-Second Finality: Transactions complete in 400 milliseconds.
- Eliminate Fragmentation: Move Bitcoin seamlessly between protocols with near-zero fees.
- True Sovereignty: No reliance on centralized custodians.
- Web3 Power, Web2 UX: Fast, cheap, and user-friendly.
Lastly, Wormhole will serve as the key interoperability provider for tBTC’s expansion to the Sui network. A dedicated bridge enabling users to move tBTC from other networks to Sui will soon be available on the Portal website. This integration will streamline cross-chain activity, making it easier for users to access Bitcoin DeFi across various ecosystems, including Sui, Ethereum, and others.
“We’re excited to support Bitcoin’s growth on Sui through Wormhole’s cross-chain infrastructure,” said Robinson Burkey, Co-Founder of Wormhole. “This integration advances Bitcoin’s interoperability and unlocks new DeFi opportunities while preserving the security and decentralization users expect.”
Enhanced Bitcoin DeFi Experience
Bitcoin DeFi is thriving on Sui, with a significant portion of Sui’s TVL now composed of BTC-backed assets. Since February 2025, a substantial amount of Bitcoin volume has flowed into Sui-native protocols. The integration of tBTC will strengthen this ecosystem by:
- Unlocking seamless Bitcoin liquidity on Sui through direct tBTC minting.
- Supporting leveraged DeFi strategies without compromising decentralization.
- Delivering frictionless DeFi interactions backed by industry-grade infrastructure.
As the world’s most valuable digital asset gains momentum and utility, Bitcoin expands beyond serving as a store of value to power decentralized finance (DeFi) applications.
Strategic Three-Month Campaign
To support the launch of Threshold’s tBTC on Sui, Threshold and Sui are kicking off a three-month campaign to facilitate long-term adoption. The initiative includes protocol-level developer support and ecosystem-wide activations to ensure the Bitcoin Standard flourishes in modern DeFi applications. This also includes limited-time incentives on select Sui DeFi Protocols, namely Bucket, AlphaLend, and Bluefin.
“BTC is expected to bring a massive amount of Bitcoin liquidity to Sui, creating a bridge that truly matters for institutions and everyday people who love Bitcoin,” said Adeniyi Abiodun, Co-Founder and Chief Product Officer at Mysten Labs, the original contributors to Sui. “This integration opens another door to accessible, sovereign BTCfi participation.
Getting Involved
Bitcoin was never meant to sit idle. With tBTC on Sui, it won’t have to. Users can get involved in this campaign by:
Learn more about Sui and the Threshold Network at sui.io and https://threshold.network, or follow them on X at @SuiFoundation and @TheTNetwork.
About Threshold Network
Threshold Network is the decentralized protocol behind tBTC, a fully non-custodial, 1:1 Bitcoin-backed asset secured by a 51-of-100 threshold signer model. tBTC enables native BTC to move across chains like Ethereum, Base, BOB, and Arbitrum without requiring custodians or compromising security. With over $ 500 M in TVL and over $ 3.6 B in bridge volume, Threshold offers the most battle-tested, trust-minimized Bitcoin infrastructure in DeFi. For more information about Threshold Network, users can visit https://threshold.network.
About Sui
Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain, providing a platform on which creators and developers can build amazing, user-friendly experiences. For more information about Sui, users can visit https://sui.io.
Disclaimer: This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those discussed. Nothing in this press release should be considered investment advice.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
- Forex3 years ago
Forex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex3 years ago
Unbiased review of Pocket Option broker
- Forex3 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Forex3 years ago
How is the Australian dollar doing today?
- Cryptocurrency3 years ago
What happened in the crypto market – current events today
- World3 years ago
Why are modern video games an art form?
- Commodities3 years ago
Copper continues to fall in price on expectations of lower demand in China
- Economy3 years ago
Crude oil tankers double in price due to EU anti-Russian sanctions