The bond market has been in a sell-off as traders await the upcoming US non-farm payrolls (NFP) data. The 30-year treasury yield has jumped to 4.90% and the 10-year to 4.80%, leading to a retreat in American equities. Cryptocurrencies have held up well during this time, with the total market cap of all coins remaining […]
Litecoin (LTC) is currently trading at $64 and has seen a 1.5 percent rise in the last 7 days. The digital asset has been mirroring Bitcoin’s price movement and is looking to break out of the $70 local resistance. Investors have placed orders to buy 234,370 LTC when the price drops 5 percent to hit […]
Elon Musk is facing legal proceedings from the U.S. Securities and Exchange Commission (SEC) for failing to comply with a subpoena. The SEC is investigating whether Musk violated federal securities law with his Twitter purchase last year. The regulator has requested Musk’s testimony to obtain information relevant to its investigation. Musk had agreed to testify […]
Gary Wang, the co-founder and former chief technology officer of cryptocurrency exchange FTX, testified in the criminal trial of former CEO Sam “SBF” Bankman-Fried on October 5. Wang admitted to committing crimes with the help of Bankman-Fried, former Alameda Research CEO Caroline Ellison and former FTX engineering director Nishad Singh. Wang stated that Bankman-Fried was […]
Ripple and its XRP token have been gaining significant attention recently, following a key court win in July. This victory has caused the total number of XRP wallets to surpass 4.8 million. The crypto firm celebrated the success with a massive party in New York City, where CEO Brad Garlinghouse even got a tattoo to […]
Julie Schoening, former chief risk officer at FTX-owned LedgerX, was terminated in August 2022 after raising concerns about special privileges granted to FTX’s affiliated trading firm Alameda Research. In May 2022, Schoening’s team discovered code showing that Alameda received special treatment, such as being able to have a negative balance as high as $65 billion. […]
Alameda Research, the parent company of FTX, has been accused of using customer funds without their knowledge. According to The Wall Street Journal, some U.S.-based employees of FTX reportedly knew that the exchange had a backdoor that allowed Alameda to withdraw customers’ funds. The employees discovered the backdoor while examining the code used by FTX […]
Steven Schoenfield, former BlackRock managing director and current CEO of MarketVector Indexes, predicted that the U.S. SEC will approve a Spot Bitcoin ETF within three to six months during a panel discussion on ETFs at CCData’s Digital Asset Summit in London. Schoenfield previously estimated approval would take nine to twelve months.The SEC’s recent decision to […]
The U.S. Securities and Exchange Commission (SEC) has been denied its motion to appeal a ruling that retail sales of XRP tokens do not constitute a security offering. District Court Judge Analisa Torres rejected the motion, citing that the SEC failed to establish the necessary conditions. The trial on the case will commence on April […]
Sam Bankman-Fried, the former CEO of crypto exchange FTX, is currently on trial for alleged fraud. On the third day of the trial, Adam Yedidia, Bankman-Fried’s former roommate at MIT and FTX developer, testified about the $8-billion deficit the exchange reported prior to its bankruptcy. Yedidia informed Bankman-Fried about a bug in FTX’s code which […]
