Regulated asset tokenizer Backed has made its debut on Base, the L2 network created by Coinbase. Backed, based in Switzerland, specializes in placing real-world assets (RWA) on the blockchain and has now launched one of its popular products on Base. The tokenized short-term US treasury bond ETF, bIB01, is part of Backed’s family of bTokens, […]
The second week of the Sam “SBF” Bankman-Fried FTX fraud trial is set to begin on Monday, Oct. 9, with a focus on the testimony of Caroline Ellison, the former romantic partner of SBF and CEO of FTX-tied Alameda Research. Ellison is expected to provide details about the movement of customer funds between the two […]
More revelations have emerged during the trial of former FTX CEO, Sam Bankman-Fried, shedding light on alleged illegal activities within FTX and its sister company, Alameda Research. According to the Wall Street Journal, FTX offered to pay $5 million to LedgerX Chief Risk Officer, Julie Schoening, who had discovered a backdoor that allowed Bankman-Fried to […]
UPbit, a prominent South Korean cryptocurrency exchange, has reported a significant increase in hacking attempts during the first half of this year. According to data shared by the exchange’s operator, Dunamu, UPbit experienced 159,061 hacking attempts, marking a staggering 1,800% surge in attacks over the past three years. This highlights the growing risks faced by […]
Gary Wang, the co-founder and CTO of FTX, has provided damaging testimony during the ongoing trial of Sam Bankman-Fried. Wang revealed that FTX’s $100 million insurance fund for 2021 was a fabrication and did not hold any of the exchange’s FTT tokens as claimed. This testimony aligns with the suspicions of the cryptocurrency community, who […]
The CEO of OpenAI, Sam Altman, has expressed concern over the US government’s actions against cryptocurrencies, stating that it feels like a war on crypto assets. Altman believes that while there is a need for regulations within the industry, the government’s approach is disappointing. He acknowledges the potential for a surveillance state but argues that […]
The U.S. Department of Justice (DOJ) is seeking to prevent Sam Bankman-Fried, the founder of FTX, from introducing evidence about the current value of certain investments, including Anthropic, an AI-focused startup. The prosecutors argue that this evidence is irrelevant and could prejudice the jury. They also highlight the speculative nature of venture capital investments, pointing […]
Leading cryptocurrency exchanges Binance and OKX, along with crypto payment service MoonPay, have taken significant steps to comply with the UK’s Financial Promotions (FinProm) Regime enforced by the Financial Conduct Authority (FCA). These regulatory changes aim to promote transparency and fairness in promoting cryptocurrency products and services in the UK. Binance has introduced a dedicated […]
Negotiators in the European Union (EU) are discussing the possibility of imposing additional regulations on large artificial intelligence (AI) systems, such as OpenAI’s GPT-4, as part of the forthcoming AI Act. The aim is to strike a balance between not burdening new startups with excessive regulations while keeping larger models in check. The agreement on […]
Federal prosecutors in the fraud trial of former FTX CEO Sam Bankman-Fried have requested that any discussion of Bankman-Fried’s investment in AI company Anthropic be excluded from the trial. Recent reports have revealed that Anthropic is set to receive significant funding from tech giants Google and Amazon, which has sparked optimism among creditors of FTX […]
