Terraform Labs, Do Kwon Reportedly Fail to Have Suit Rejected; House Crypto Votes to Come in 2024

Tara Labs and Dawn lose the effort to block a class action lawsuit and a new timeline for a crypto legislation vote in the United States. You're watching Coin Desk Daily, I'm your host, Jen Sani. All right, let's take a look at the markets. The coin desk, Bitcoin Price, XBX index is currently trading at $38,484 earlier, Bitcoin rose to $38,800 for the first time since May 2022. Continuing a strong multi month run buoyed by expectations of growing institutional demand. Terraform Labs and its founder Do Kwon may be hit with a class action lawsuit in Singapore. The business times says Terraform lawyers unsuccessfully tried to have it thrown out this week. The suit was filed in 2022 on behalf of more than 375 claimants who say they lost a combined $57 million. Terraform also faces charges of fraud in the United States brought by the Securities and Exchange Commission. The company did not immediately respond to Coin Desk's request for further comment. Could the US see a vote on crypto legislation in 2024. A lawmaker thinks so. Congressman French Hill, who's the chairman of the House Financial Services Committee subcomittee that focuses on digital assets said the house's consideration of two major crypto bills has likely show into early 2024. He made the comments at a Blockchain Association event in Washington on Thursday. The timeline was delayed after Republican infighting led to the temporary loss of a house speaker and key crypto negotiator Patrick mchenry had to act as a stand in speaker, the investment arm of crypto exchange Q coin will provide a $20,000 grant to the to network. A spokesperson says the money will be allocated to five ton based mini apps. The mini apps focus on payments and gaming. In a statement, Q coin venture said it's aiming to blaze a trail for the future of collaboration between exchanges and public chains. That's wrap for coin desk daily, get more updates on coin desk.com and we'll see you next time.