The second week of the criminal trial for former FTX exchange CEO Sam “SBF” Bankman-Fried is underway, with key witness Caroline Ellison taking the stand. Ellison, who was both SBF’s former romantic partner and the former CEO of the FTX-affiliated hedge fund Alameda Research, is expected to provide details about the shuffling of customer funds […]
Major cryptocurrency exchange operator OK Group is rebranding its crypto ventures under the name “OKX.” The company plans to rebrand its platform Okcoin to OKX in key operational jurisdictions, starting with Singapore and then Europe and the United States. The move aims to provide customers with the same set of product services under the same […]
Gary Wang, who has previously pleaded guilty to similar charges as Sam Bankman-Fried, testified that Bankman-Fried instructed him to write code that allowed Alameda Research to have a negative balance on the FTX exchange. Wang revealed that Alameda ultimately took and spent at least $8 billion of FTX customers’ money. Wang admitted to committing crimes […]
Canadian Bitcoin mining company Hut 8 has announced that it mined 111 Bitcoin in September 2023, bringing its total self-mined BTC reserves to 9,366 Bitcoin. This represents an 8% increase from the previous month, although it is still significantly lower than the 147 BTC mined in May 2023. Despite the decline in mining volumes, Hut […]
A collective of companies and leaders in the Web3 space in Israel have launched a crypto humanitarian campaign called “Crypto Aid Israel.” The campaign aims to raise funds to provide essential supplies for displaced and affected Israelis, including food, shelter, hygiene, and medical products. Donations can be made in multiple cryptocurrencies through a multisig wallet, […]
In the ongoing fraud trial of Sam Bankman-Fried, his legal team is seeking permission to question FTX co-founder Gary Wang about his reliance on legal advice when accepting loans from Alameda Research. This request comes after a judge previously denied Bankman-Fried’s attempt to attribute alleged fraud to his legal advisors. Prosecutors have already questioned Wang […]
The Ethereum Foundation, the leading organization behind the development of the Ethereum blockchain, has fallen victim to a “Sandwich Attack” that resulted in the loss of around $9,101. The attack was carried out by a Maximal Extractable Value (MEV) bot, which took advantage of the fees market structure on the network. The bot placed two […]
Ripple, the cryptocurrency company, has been returning a significant portion of its unlocked XRP tokens to its escrow system after each monthly release. This move is aimed at supporting the price of XRP. Bill Morgan, a pro-XRP legal expert, explained that if Ripple were to sell all the tokens, it could negatively impact the token’s […]
Sam Bankman-Fried’s legal team is seeking permission to investigate the alleged involvement of FTX lawyers in the issuance of $200 million in loans from Alameda that were approved by Gary Wang. A court ruling had previously barred Bankman-Fried from blaming FTX lawyers for their role in structuring and approving the loans. However, the defense now […]
The XRP community is eagerly anticipating a potential settlement between Ripple and the SEC, which could provide regulatory clarity for XRP. Judge Analisa Torres has ordered both parties to engage in a physical settlement discussion before April 16, 2024. This development comes after rumors of a possible settlement have circulated in recent weeks. The prolonged […]
