Daily Crypto Bulletin: What Investors Should Know ?

Crypto Clash: Alameda Research Takes Legal Action Against Grayscale

1. Alameda Research, a debtor affiliate of FTX, has filed a lawsuit against Grayscale Investments in the Delaware State Court of Chancery.
2. The FTX Debtors are requesting injunctive action to release over $9 billion in value for Grayscale Crypto Trusts' stockholders and realize over $250 million in asset value for FTX Debtors' customers and creditors.
3. The lawsuit alleges that Grayscale has charged unreasonable management fees and allowed its shares to trade at almost half of its net asset value, suppressing the value of FTX debtors' shares.
4. The complaint further alleges that Grayscale concealed itself behind fabricated explanations to forestall redemption of shareholders' shares.

USD Loses its Grip on Crypto Market: Bearish Mood Prevails

1. US regulators making it harder for companies to access USD for crypto purchases
2. Euro and stablecoin-denominated Bitcoin pairs gaining traction over USD pairs since FTX collapse
3. Institutional trading activity decline linked to USD drop in crypto market after FTX collapse
4. Stablecoins gaining traction amid US banks cutting association with crypto firms, bearish sentiment prevails in crypto market

Is Vitalik Buterin's recent meme coin sale a warning sign for an impending crypto crash?

1. Ethereum co-founder Vitalik Buterin sells most of the free shitcoins he received to his wallet address, causing a drop in their value.
2. Vitalik Buterin has sold several tokens, including 50 billion MOPS, 10 billion CULT, and 500 trillion SHIK, among others.
3. Crypto Twitter is disappointed and angry over Vitalik's actions, while some speculate that he is selling to cover expenses or related to testnet tokens.
4. Ethereum's price has increased by almost 1% in the last 24 hours, trading at $1,573, with traders waiting for Jerome Powell's congressional testimony.

White House Responds to Silvergate Situation

1. White House press secretary Karine Jean-Pierre confirms the Biden administration is monitoring Silvergate Bank's situation.
2. Jean-Pierre compares Silvergate's situation with other crypto companies that have had issues recently.
3. The administration is calling on Congress to take action to protect Americans from the risks posed by digital assets.
4. Silvergate's decision to shutter its Silvergate Exchange Network and delay filing its annual report have caused its stock to plummet and led to suspension of business with some prominent crypto clients.

A New Era for Amazon: NFT Marketplace Launching Soon

1. Amazon is reportedly launching its NFT marketplace called "Amazon Digital Marketplace" on April 24, starting with U.S. customers first before gradually rolling out to other countries.
2. At the time of launch, Amazon will offer about 15 NFT collections available on its website under the "Amazon Digital Marketplace" tab, with purchases only made through Amazon accounts and credit cards.
3. Amazon's NFT service will allow people without access to crypto wallets like Metamask to buy NFTs.
4. Amazon's partnership with blockchain companies like Ava Labs, Chainlink, and VeChainThor suggests its intention to expand further into the Web3 ecosystem, and it plans to offer free NFTs to customers who play crypto games.