US District Judge Lewis Kaplan from Manhattan has been assigned to hear the criminal case against FTX co-founder Sam Bankman-Fried (SBF) following the recusal of the previous judge Ronnie Abrams. 🚨 Sam Bankman-Fried’s case reassigned to Bill Clinton appointed Judge, Lewis Kaplan. (Photo credit: Danny Nelson, April 2022) pic.twitter.com/rUcIhlTwRw — Jane Adams (@iLoveJaneAdams) December 27,…
Glassnode data analyzed by CryptoSlate shows that 450,000 Bitcoin (BTC) held on an exchange or a hot wallet before 2022 have been moved to cold storage throughout the year. In the last 12 months, the market has seen multiple black swan events that led to around 550,000 BTC abandoning exchanges’ reserves. On more than one…
A top Armanino executive defended auditing work that his company performed for FTX.US during an interview published by the Financial Times on Dec. 23. Armanino’s chief operating officer, Chris Carlberg, suggested that the company felt assured about its quality of services to the American branch of FTX. Carlberg stated: “We definitely stand by the FTX…
Daily crypto trading volume on Binance sunk to $9.39 billion on Dec. 23, its lowest since October 2020, according to data from Nomics. Compared to Nov. 8, when daily trading volume on Binance crossed $172 billion, the latest data suggests a drop of over 94.5% in the past 24 hours. With the upcoming holiday season…
With the crypto industry struggling through a record bear market situation, one asset that has polarized analysts is Coinbase stock which has fallen to new lows. Bitwise Invest Chief investment officer Matt Hougan thinks Coinbase stock is undervalued despite falling significantly in 2022. According to Hougan, Coinbase raised money at a valuation of $8 billion…
On the Waves Tech weekly community AMA on Dec. 23, Waves CEO Sashi Ivanov revealed the USDN revival plan, involving turning USDN into a multi-collateralized asset, a soft-pegged asset — WINDX. This move will transform USDN into a “soft-peg” stablecoin, meaning that it will fluctuate around the value of $1, potentially a little higher or…
The collapse of FTX left a gaping hole in the crypto market. The failed exchange accounted for a significant chunk of the global trading volume and kept Binance from becoming the de facto ruler of the market. With FTX now gone, Binance took the throne and became the largest and potentially the most important company…
The US SEC general counsel Dan Berkovitz will leave his role by Jan. 31, according to a Dec. 22 statement. Washington Examiner reported that Berkovitz “wined and dined” in 2021 with the disgraced FTX founder Sam Bankman-Fried at a luxury Indian restaurant in Washington. Then, the regulatory chief was a Commodity Futures Trading Commission (CFTC)…
Local sources reported that two men who were involved with the AAX investigation were arrested in Hong Kong on Dec. 23. According to local law enforcement, the individuals were arrested for suspicions of fraud and misleading police officers. AAX bankruptcy Weeks after the FTX collapse, on Nov. 28, AAX exchange’s Vice President Ben Caselin announced…
Leading crypto exchange OKX has published the second update of its proof-of-reserves (PoR), with a promise to update on a monthly basis. Following the collapse of FTX, crypto exchanges including OKX and Binance have moved to improve their transparency by publishing PoR reports. OKX published the first version of its first proof of reserves report…