Amid the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Binance, a significant development has emerged involving Circle, the issuer of stablecoin USD Coin (USDC). Circle has been granted permission to provide its perspective on the lawsuit as an amicus curiae, or “friend of the court.” District Judge Amy Berman Jackson […]
Caroline Ellison, a former top deputy to FTX founder Sam Bankman-Fried (SBF), concluded her testimony on the seventh day of the SBF trial. Her detailed account shed light on her complex relationship with SBF, both personally and professionally. While her testimony did not bring any significant breakthroughs for SBF’s defense, it provided insights into the […]
United States supermarket chain Trader Joe’s has filed a complaint against decentralized exchange Trader Joe, accusing it of federal trademark infringement and dilution. The lawsuit claims that Trader Joe and its co-founder Cheng Chieh Liu used the supermarket’s ideas and narrative for one of the platform’s fictional characters, as well as a similar name and […]
According to former Alameda Research CEO Caroline Ellison, a tweet from Binance CEO Changpeng Zhao (CZ) played a role in the collapse of cryptocurrency exchange FTX. In the tweet, CZ announced that Binance would be liquidating its holdings of FTX Token (FTT) due to recent revelations. This caused retail investors to follow suit and withdraw […]
Philippine-based cryptocurrency exchange Coins.ph has partnered with fintech firm Circle to enhance remittance services for its 18 million Filipino users. The collaboration aims to leverage stablecoin-denominated remittances, which offer fast, affordable, and secure international money transfers. Circle is the creator of USDC, the second-largest stablecoin by market capitalization, designed to maintain a 1-to-1 peg with […]
Alameda Research, a company affiliated with FTX, is set to receive $175 million from Genesis Global Holdco as part of a settlement agreement approved by the United States Bankruptcy Court for the Southern District of New York. This development comes amidst the ongoing trial of Sam Bankman-Fried, which has shed light on alleged financial misconduct […]
Blockchain intelligence company Elliptic has linked the $400 million hack of cryptocurrency exchange FTX to Russian hackers. According to Elliptic’s report, the attacker used an unsophisticated method of laundering the stolen funds by converting them to Bitcoin using a service owned by the bankrupt exchange’s sister company. The attacker then used crypto-mixing services to cover […]
Former Alameda Research CEO Caroline Ellison has accused former FTX CEO Sam Bankman-Fried of instructing her to commit fraud. According to court transcripts from Bankman-Fried’s trial, Ellison claims that Alameda, the trading arm of FTX, used around $14 billion of the exchange’s customers’ funds for investments between 2020 and 2022. Ellison alleges that Bankman-Fried “set […]
Cryptocurrency company Genesis has suspended customer withdrawals in its lending unit, adding to the challenges faced by the digital currency industry. This comes after the company filed for bankruptcy earlier this year due to the Gemini exchange’s refusal to facilitate customer withdrawals. The situation has escalated, leading to legal intervention and a settlement between Genesis […]
CoinMarketCap, a crypto data aggregator owned by Binance, has launched a new ChatGPT plugin. This plugin allows users to access real-time data directly from CoinMarketCap. By signing in to their ChatGPT Plus account and enabling the plugin, users can keep up with the rapidly changing crypto landscape. The plugin operates as an AI crypto analyst, […]
