Tensions ran high in court as lawyers representing BlockFi and 3AC clashed over the handling of the legal proceedings. BlockFi’s lawyer accused 3AC of prolonging the case and accumulating a hefty $16 million in legal fees. In response, 3AC’s lawyer deemed these comments inappropriate and reckless. He reminded the court that the founders of 3AC […]
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 fraud during her time at Alameda under Bankman-Fried’s direction, claiming that he set up the systems that allowed Alameda to take roughly $14 billion from FTX user […]
Caroline Ellison, the former CEO of crypto trading firm Alameda Research, testified in the trial of Sam Bankman-Fried, accusing the FTX founder of directing her to commit crimes. Ellison, who has pleaded guilty to fraud charges, claimed that Bankman-Fried instructed her to siphon billions of dollars from FTX to make high-risk investments and repay loans. […]
He Jinbi, the founder of Chinese company Maike Metals International, has been arrested by Chinese authorities. This comes as part of President Xi Jinping’s ongoing crackdown on founders and executives of large firms. Maike Metals International, once China’s largest copper importer, has faced a liquidity crisis and filed for preliminary restructuring earlier this year. The […]
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 […]
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 […]
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 […]
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. […]
One of the key points of discussion in the ongoing trial of former FTX CEO, Sam Bankman-Fried (SBF), is the reaction of Judge Lewis Kaplan to the defense’s tactics during cross-examination. On the third day of the trial, the defense questioned Adam Yedidia, a close friend of SBF and former FTX employee. However, Judge Kaplan […]
US dollar stablecoin issuer Circle has announced that it is now minting USD Coin (USDC) natively on the Ethereum layer 2 scaling protocol Polygon. This means that users and developers can access USDC without the need to bridge the stablecoin from Ethereum or any other blockchain. Circle Mint and Circle’s developer APIs now support Polygon-based […]
