FTX, a major cryptocurrency exchange, recently filed for bankruptcy after being hacked for $477 million. The stolen funds, primarily in ether, remained inactive for five days before a significant amount was moved to the Bitcoin blockchain. The perpetrators then used a mixer to convert the stolen funds into Bitcoin, with some of it potentially being […]
Explosive Testimonies in Trial of Former FTX CEO Reveal Alameda’s Role in Financial CrisisThe ongoing trial of former FTX CEO Sam Bankman Fried has brought to light shocking revelations through testimonies from former key FTX and Alameda executives. In a recent court proceeding, former Alameda Research CEO Caroline Elisson testified and a recording of a […]
At the recent Future Innovation Summit event in Dubai, a panel discussion titled “Stablecoins, Central Bank Digital Currencies and Cross-Border Payments” explored the possibility of coexistence between CBDCs and stablecoins. The panel consisted of industry experts including Jorge Carrasco, Nikita Sachdev, Jagadeshwaran Kothandapani, and Eetu Kuneinen.Kuneinen argued that CBDCs, although built on a blockchain, would […]
Former CEO of Alameda Research, Caroline Ellison, has made shocking revelations during a secret recording obtained by prosecutors. In the recording, Ellison alleges that Sam Bankman-Fried, the founder of Alameda and FTX, used FTX customer funds to repay loans. The recording, made by an employee who had been with the company for only three days, […]
Ripple’s CTO, David Schwartz, has responded to Cardano founder Charles Hoskinson’s comments regarding the US regulators’ determination that Ethereum (ETH) is not a security. Hoskinson addressed the conspiracy theory known as ETHgate, which suggests that Ethereum received preferential treatment from US regulators. He argued that the government’s actions were not corrupt but rather showed favoritism. […]
Terraform Labs, led by founder Do Kwon, has filed a lawsuit against Citadel Securities, accusing the company of intentionally causing the crash of its stablecoin in 2022. The lawsuit alleges that the market destabilization was not due to a technical issue, but rather orchestrated efforts to short the stablecoin. Terraform Labs has filed a motion […]
The discount on Grayscale Bitcoin Trust (GBTC) has reached its lowest point this year, currently standing at 16.58% as of October 12th. This narrowing discount is closely linked to the impending deadline for the U.S. Securities and Exchange Commission (SEC) to file an appeal against its previous loss to the asset management firm. In August, […]
The Department of Justice (DOJ) has presented a clear narrative in the case against Sam Bankman-Fried. According to the DOJ, Bankman-Fried allegedly took billions of dollars from his customers and investors. He then instructed his close friends to engage in activities that facilitated his access to these funds. Bankman-Fried proceeded to gamble these billions on […]
France’s banking and insurance regulator, the ACPR, has released the findings of its public consultation on regulating decentralized finance (DeFi). The consultation highlighted the concentration of infrastructure with major cloud providers, raising concerns about operational vulnerability. The ACPR also noted the need for certifying smart contracts and regulating intermediaries and user interfaces. The feedback received […]
On October 13, the G20, an international forum for governments and central banks, unanimously adopted the G20 Finance Ministers and Central Bank Governors Communique during its meeting in Marrakesh, Morocco. The G20 accepted the regulatory roadmap proposed by the IMF and FSB in September, which advocates for comprehensive supervisory oversight of cryptocurrencies instead of a […]
