Day 15 of the trial of Sam Bankman-Fried (SBF) continued with the prosecution’s cross-examination, focusing on SBF’s relationship with the Bahamian government, handling of customer funds, and transparency issues. The defense conducted a re-direct examination to provide context and nuance to SBF’s responses. The prosecution presented evidence, including messages and videos, to support their claims. […]
The U.S. Securities and Exchange Commission (SEC) has come under scrutiny from the U.S. Government Accountability Office for failing to follow proper procedures in issuing guidance on cryptocurrency safeguarding. The accountability office claims that the SEC did not submit the necessary reports to Congress and the Comptroller General before implementing the guidance. The SEC argues […]
Former FTX CEO, Sam Bankman-Fried, has concluded his testimony and cross-examination in his criminal fraud trial. During his testimony, Bankman-Fried acknowledged the existence of an $8 billion hidden debt within Alameda Research, which was discovered after a bug was fixed in an account called fiat@. He claimed to have discovered the massive transfer in September […]
The trial of former FTX CEO Sam “SBF” Bankman-Fried is currently underway in New York, and Cointelegraph reporters are providing live coverage of the proceedings. The trial is nearing its conclusion, with closing arguments set for November 1. Bankman-Fried took the stand and testified that he believed it was acceptable to utilize $8 billion in […]
The UK’s Financial Conduct Authority (FCA) has issued a warning to investors regarding Bitfinex, stating that the exchange may be promoting financial services without proper authorization. The FCA cautions potential investors to avoid dealing with Bitfinex, as they will not have access to the Financial Ombudsman Service for resolving complaints and will not be protected […]
FTX, a bankrupt cryptocurrency exchange, has reportedly moved $156 million worth of digital assets, including Ethereum and Solana, in a series of transactions. According to blockchain analytics firm Nansen, the assets transferred include 1,100 ETH, 10.5 million USDC, and 7.6 million Render tokens, among others. Additionally, FTX has begun unstaking 1.6 million SOL tokens, worth […]
In a groundbreaking move, the Monetary Authority of Singapore (MAS) has formed an alliance with esteemed financial regulatory bodies from around the world, including the Financial Services Agency of Japan (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the UK Financial Conduct Authority (FCA). Together, they aim to lead pioneering pilot initiatives in the […]
In 2017, the victims of the Mt. Gox hack are still waiting for compensation, almost 10 years after the incident. This serves as a reminder of the haunting reality of cryptocurrency, where the loss of private keys can lead to the disappearance of fortunes.One unfortunate incident involves Gerald Cotten, the CEO of QuadrigaCX. While on […]
Digital asset manager Valkyrie Investments has filed an updated spot Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The Valkyrie Bitcoin Fund aims to offer investors the opportunity to invest in common shares backed by Bitcoin. The shares will be traded under the ticker symbol “BRRR” on the Nasdaq Stock Market. […]
Spain is taking the lead in implementing the European Union’s comprehensive cryptocurrency regulatory framework, the Markets in Crypto-Assets (MiCA) Act. The Spanish Ministry of Economy and Digital Transformation has announced that the MiCA Act will come into force in December 2025, six months ahead of the EU’s general deadline. This accelerated timeline aims to provide […]
