Cryptocurrency Exchanges 57 | MachinaTrader.com

Taiwan Introduces Virtual Asset Management Bill to Enhance Customer Protection and Industry Oversight

Taiwanese legislators have introduced the Virtual Asset Management Bill to the Legislative Yuan, aiming to provide better protection and supervision for customers in the virtual asset industry. The bill proposes obligations for virtual asset service providers (VASPs), such as separating customer funds, establishing internal controls, and joining trade associations. However, it does not currently require […]

FTX CEO Trial: Prosecution Wraps Up as Defense Counsel’s Case Remains Uncertain

The trial of former FTX CEO Sam “SBF” Bankman-Fried in New York continues, with prosecutors resting their case on October 26. FBI agent Mark Troiano provided testimony about his analysis of over 300 Signal groups associated with Bankman-Fried. The defense called witnesses, including Bahamas attorney Krystal Rolle, who discussed FTX’s transfer of digital assets to […]

Former FTX CEO Testifies in New York Court on Allegations of Funds Misuse and Shadowy Entity Creation

Former FTX CEO Sam “SBF” Bankman-Fried testified in a New York courtroom regarding allegations of using customer funds from the crypto exchange to make investments through Alameda Research without users’ knowledge. Bankman-Fried claimed that he followed company policies on records and that none of the media set to “auto-delete” were used for decision-making. He stated […]

Lawmakers Call for Charges Against Binance and Tether Over Alleged Terrorist Financing

US lawmakers are calling on the Department of Justice (DOJ) to take action against major cryptocurrency companies Binance and Tether. They allege that these companies have facilitated illicit financial activities, including funding for the terrorist group Hamas. Senator Cynthia Lummis and Representative French Hill have sent a letter to Attorney General Merrick Garland, citing media […]

Former FTX CEO Sam Bankman-Fried Testifies in High-Stakes Fraud Trial

Former FTX CEO, Sam Bankman-Fried, is set to testify in the ongoing criminal FTX fraud trial. He is facing allegations of misusing customer and investor funds, which led to FTX’s Chapter 11 filing. Bankman-Fried’s previous statements, made in a non-legal context, are now under scrutiny as he testifies under oath. Key testimonies from former colleagues […]

FTX CEO’s Trial Nears End as Defense Presents Witnesses and Prosecution Rests Case

Attorneys representing the United States Justice Department have concluded their case against Sam “SBF” Bankman-Fried after three weeks of expert witnesses and testimonies from former FTX and Alameda employees. The government’s final witness was FBI agent Mark Troiano, who testified about SBF’s involvement in over 300 groups on the messaging app Signal. Following Troiano’s testimony, […]

Former FTX CEO Sam Bankman-Fried Testifies in FTX Fraud Trial Amid Accusations of Fund Misappropriation

Former FTX CEO Sam Bankman-Fried is set to testify in the ongoing criminal FTX fraud trial. He is facing allegations of misusing customer and investor funds, which led to FTX’s Chapter 11 filing. Bankman-Fried’s previous statements, made in a non-legal context, are now under scrutiny as he testifies under oath. Key testimonies from former colleagues […]

FTX Seeks Information on Payments to Nonprofit AI Safety Organization in Bankruptcy Case

FTX, a bankrupt cryptocurrency exchange, is seeking information on millions of dollars it had previously given to the Center for AI Safety (CAIS), a nonprofit organization. FTX claims to have given $6.5 million to CAIS before its collapse and bankruptcy. The exchange wants a court to approve subpoenas to CAIS to inquire about the payments, […]

SBF’s Testimony Extends Trial, Raises Stakes in FTX Legal Battle

Sam Bankman-Fried’s trial is set to resume on October 27, with the prosecution bringing its final witnesses before resting its case. The prosecution initially expected the trial to conclude by October 30, but now believes it will take longer due to complications arising from Bankman-Fried’s testimony. The defense plans to re-examine the testimonies of Gary […]

Crypto Firms Fail to Comply with UK’s New Promotion Rules, FCA Takes Action

The UK’s Financial Conduct Authority (FCA) has revealed that many cryptocurrency firms are failing to comply with its new promotional rules. These rules, which came into effect on October 8, require companies to warn users about the potential risks of investing in certain crypto products and prohibit them from offering referral bonuses. The FCA has […]