10 - 2023 | MachinaTrader.com

Controversy Surrounds Portrayal of SBF in New Book, Sparking Debate on Character and Accountability

In recent developments, the portrayal of Sam Bankman-Fried (SBF), the indicted founder and former CEO of the now-defunct cryptocurrency exchange FTX, has sparked a contentious debate. Influential figures like Charles Hoskinson and Nassim Nicholas Taleb have weighed in, igniting a discussion about SBF’s character and accountability.The controversy centers around SBF’s depiction in Michael Lewis’s book […]

Ethereum Gas Fees Hit All-Time Lows as Layer 2 Solutions Gain Traction

Ethereum gas fees, a major obstacle to mainstream adoption, have reached all-time lows recently. The average gas price dropped to 8.8 gwei, surpassing the previous record of 8.9 gwei. This decline can be attributed to the increased usage of layer 2 scaling solutions like Optimism and Arbitrum, which process transactions off-chain and reduce congestion on […]

Crypto Crisis Deepens as Financial Woes and Leadership Changes Rock Industry

In the rapidly changing world of cryptocurrency, recent events have caused a major upheaval in the industry, leading to what can only be described as a “crypto crisis.” This crisis is characterized by financial difficulties at major companies and significant leadership changes that are raising concerns about the stability and future of the digital currency […]

SEC Argues Digital Assets Have No Inherent Value in Court Motion Against Coinbase

The U.S. Securities and Exchange Commission (SEC) has argued in a court motion against Coinbase, the top US crypto exchange, that digital assets have no inherent value. The SEC claims that unlike tangible assets such as real estate, digital tokens cannot generate profits on their own and rely on an ecosystem to drive demand. The […]

Former FTX CEO Accused of Directing Fraud by Ex-Girlfriend and Business Associate at Criminal Trial

Former FTX CEO Sam “SBF” Bankman-Fried is currently on trial for fraud, and his former business associate and girlfriend Caroline Ellison recently testified against him. Ellison admitted to committing fraud at Alameda under Bankman-Fried’s direction, claiming that he “set up the systems” that allowed Alameda to take around $14 billion from FTX user funds. She […]

Friend.tech Introduces Two-Factor Authentication to Combat SIM-Swap Attacks

Friend.tech has introduced a two-factor authentication (2FA) password feature in response to a series of SIM-swap attacks targeting its users. These attacks involve hackers gaining control of users’ phone numbers and unauthorized access to their accounts, resulting in the loss of valuable digital assets. The new 2FA password provides an additional layer of protection, particularly […]

Alameda Research Allegedly Minted $40 Billion of Tether’s USDT, According to Report

Bankrupt crypto firm Alameda Research is believed to have minted around $40 billion of Tether’s USDT stablecoin, accounting for approximately 47% of its circulating supply. This analysis was conducted by Coinbase director Conor Grogan, who also noted that the amount of USDT minted exceeded Alameda’s assets under management at the peak of the crypto market. […]

FCA Places Restrictions on Binance’s UK Partner Rebuildingsociety for Noncompliance

The Financial Conduct Authority (FCA) in the UK has imposed restrictions on Rebuildingsociety, a peer-to-peer lending platform that partnered with cryptocurrency exchange Binance to comply with the FCA’s marketing regulations. The FCA stated that Rebuildingsociety was not authorized to approve the content of any financial promotion for a Qualifying Cryptoasset by an unauthorised person and […]

Binance Freezes Crypto Accounts Linked to Hamas Militants at Request of Israeli Law Enforcement

Crypto exchange Binance has complied with requests from Israeli law enforcement to freeze accounts linked to Hamas militants. The freeze specifically targets Hamas and not the people of Palestine, according to Yi He, co-founder of Binance. He explained that Hamas is designated as a terrorist organization by the United Nations, and therefore, banks and trading […]

BitVM Sparks Debate: Introducing Smart Contracts to Bitcoin Blockchain

BitVM, a computing paradigm introduced by Robin Linus of ZeroSync, aims to bring smart contract capabilities to the Bitcoin blockchain. The whitepaper, released on October 9, has sparked a heated debate within the crypto community. BitVM contracts are similar to optimistic rollups on Ethereum, allowing for the verification of computations without changing the network’s consensus […]