Ad FTX insiders including Sam Bankman-Fried (SBF) have received subpoenas from FTX’s committee of unsecured creditors to provide detailed information related to the exchange’s collapse. FTX’s committee of unsecured creditors received the U.S. bankruptcy court’s approval to issue subpoenas to individuals with insider information on the inner workings of FTX. In roughly five different documents…
Ad FTX founder Sam Bankman-Fried has been ordered to reappear in court for the second time in a week after prosecutors revealed he has attempted to use a VPN despite being warned by Judge Kaplan against it. Judge Kaplan set the hearing — scheduled for Feb. 16 — after prosecutors submitted a letter noting that…
Ad Circle, which issues the USDC stablecoin, has denied that it has received a Wells notice. That denial was recorded in a tweet by CSO Dante Disparte on Feb. 14. Disparte wrote: “Circle has not received a Wells notice.” Unsubstantiated rumors emerged earlier today suggesting that U.S. Securities and Exchange Commission had sent a Wells…
Ad Exchange-related deposits and withdrawals of Bitcoin are often good indicators of market sentiment. When the number of exchange deposits grows, the liquid supply of Bitcoin grows and shows the market’s readiness to trade. Conversely, when the number of exchange withdrawals increases, investors seem less interested in trading and are looking to hold their BTC…
Ad In a wide-ranging Twitter Spaces AMA on Feb. 14, the co-founder and CEO of Binance, Changpeng Zhao, addressed ongoing FUD around the BUSD stablecoin, rumors that Circle had snitched to New York regulators, and thoughts about shifting his attention from USD-backed stablecoins to alternatives like algorithmic, Euro and Yen-denominated ones. PAXOS/BUSD FUD Addressing some…
Ad Binance sees huge potential for using AI within the crypto industry as it shared its views on the current flavor of the month, ChatGPT. In a recent blog post, Binance outlined AI technology’s importance in optimizing crypto over the coming years. Binance CEO Changpeng Zhao (CZ) has confirmed previously that it leverages AI within…
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Ad The U.S. prosecutors said FTX founder Sam Bankman-Fried used Virtual Private Network (VPN) to access the internet on Jan. 29 and Feb. 12, according to a Feb. 13 letter to Judge Lewis Kaplan. The prosecutors said SBF’s VPN use raises concern because the mechanism could hide online activities, make data transfers, and access the…
Ad Stablecoin issuer Circle filed a regulatory complaint last fall regarding Binance’s stablecoin reserves, according to a Bloomberg report on Feb. 13. Circle reported BUSD to NY regulator Bloomberg’s report says that Circle informed the New York Department of Financial Services (NYDFS) about Binance’s stablecoin, Binance USD (BUSD). Circle, which monitors blockchain data, reportedly observed…
Ad The Aave community is currently considering a proposal to freeze the BUSD reserve on the Aave V2 market in light of Paxos’ move to stop minting BUSD. BUSD issuer Paxos announced on Feb. 13 that it would cease minting BUSD from Feb. 21, 2023, but the token will remain fully supported by Paxos and…