Sam Bankman-Fried, founder and former CEO of FTX, returned to Twitter on Dec. 30 after weeks of inactivity coinciding with his arrest. Bankman-Fried commented on a recent event that saw Alameda-related cryptocurrency addresses move at least $1.7 million of assets. Those funds were transferred to crypto mixers in several batches on Dec. 28. Bankman-Fried denied…
On Dec. 29, crypto exchange Huobi Global announced the listing of Pi, the native token of the Pi Network. In the 24 hours following the announcement, the Pi token price surged 461.3% from $44.03 to $232.97 at the time of writing, according to CoinGecko data. In addition, the token price reached an all-time high of…
On-chain data suggests the fallen founder of FTX Sam Bankman-Fried (SBF) moved Ethereum (ETH) worth $684,000 to RenBridge and Seychelles-based exchanges over the past 2 days. In a Twitter thread, on-chain sleuth BowTiedlguana claimed that SBF transferred $684,000 worth of Ethereum (ETH) to a Seychelles-based exchange and RenBridge. BowTiedlguana suggested that these transactions allegedly carried…
When investors put money on an exchange, they shouldn’t have to worry if it’ll vanish tomorrow. Their only worry should be the price of their Bitcoin, Ethereum or other cryptocurrency investments. As much as we don’t want overregulation, the crypto industry needs a transparent framework. More Crypto Companies Could Go Bankrupt In FTX’s Wake FTX…
Hundreds of Celsius, FTX, and Voyager customers have opted to avoid the bankruptcy process by selling their claims for a fraction of their face value, the Wall Street Journal reported. Mt. Gox serves as a reminder of what may lie ahead Bankruptcy administration can take many years to resolve depending on the case’s complexity. Bitcoin…
Binance saw steady growth in 2022, securing 14 licenses and increasing its headcount to 7,500 people representing over 100 nationalities. It also grew its compliance team to 750 people from 500. As of the end of 2022, the exchange serves over 120 million users from all over the world. CEO Changpeng (CZ) Zhao said: “Amid…
The judge overseeing BlockFi’s ongoing bankruptcy case agreed today to review a request that could see 56 million Robinhood shares moved to a neutral location, according to a report from the Wall Street Journal on Dec. 28. The judge has not yet agreed to move the assets to a neutral account. The matter will be…
Crypto exchange Gemini and its founders, the Winklevoss twins, are facing a class-action lawsuit for allegedly not registering their interest-bearing accounts as securities and thereby violating the U.S. Exchange Act, according to a Tweet by crypto influencer ODELL. The investors filed the lawsuit in the U.S. District Court for the Southern District of New York…
Sam Bankman-Fried is expected to enter a plea on January 3, 2022, to criminal charges, including conspiracy to commit money laundering and conspiracy to commit fraud on customers and lenders. The trial for the FTX founder is scheduled to begin on the afternoon of January 3, in Manhattan federal court, before U.S. District Judge Lewis…
Kraken will shut its operation in Japan and deregister with the country’s Financial Services Agency on Jan. 31, 2023, according to a Dec. 28 statement. According to the exchange, the decision was made as part of efforts to prioritize its overall business. The firm said the “current market conditions in Japan in combination with a…