A senior judge in the Columbian district court has reportedly signed multiple orders to clear pending motions in the ongoing lawsuit filed by the United States Securities and Exchange Commission against the crypto exchange Binance ahead of the crucial hearing. Among the key orders, the judge cleared an amicus brief filed by USD Coin (USDC)…
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Bitfinex’s parent company iFinex has proposed to buy back $150 million worth of the company’s shares from users who were offered these shares as part of compensation for the $71 million hack on the Bitfinex crypto exchange in 2016, reported Bloomberg. iFinex revealed its plans to buy back $150 million worth of shares in a…
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Cardano founder Charles Hoskinson has likened former FTX CEO Sam Bankman-Fried to infamous American fraudster Bernie Maddoff and accused the media of giving the former FTX CEO a ‘free pass’. Bernard Lawrence Madoff was the mastermind behind the largest known Ponzi scam in history, estimated to be worth $64.8 billion. At one point, Madoff served as…
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Binance CEO Changpeng Zhao reportedly declined to pay $40 million to former FTX CEO Sam Bankman Fried for a futures crypto exchange in March 2019, according to an excerpt from Michael Lewis’ book “Going Infinite.” According to the book, SBF proposed a futures exchange with “zero risk” for the exchange in case of bad trades…
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The United States Department of Justice filed a court motion on Oct. 4 claiming the lack of crypto regulations in the U.S. is no bar to the criminal charges filed against the former CEO Sam Bankman-Fried of now-bankrupt crypto exchange FTX. The U.S. DOJ’s letter was filed in response to the defendant’s request for clarification…
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Decentralized social media platform Friend.tech based on Coinbase’s layer-2 protocol Base has touched new heights in terms of revenue growth and total value locked on its platform. According to data from Dune Analytics, Friend.tech revenue has surged to 10,663 ETH and its TVL grew to over 30,000 ETH on Oct. 2. The recent boom in…
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The FTX bankruptcy lawsuit reached a key juncture in the second week of September after the United States Bankruptcy Court for the District of Delaware approved the sale of $3.4 billion worth of crypto assets. The court also approved $1.3 billion in brokerage and government-recovered assets as part of the liquidation process, with $2.6 billion…
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Coinbase International Exchange, a class F license holder from the Bermuda Monetary Authority (BMA), announced that it has received additional regulatory approval, allowing the platform to offer perpetual futures trading to non-US retail customers. Launched in May 2023, Coinbase International already offered crypto derivates services to institutional clients. With the latest regulatory approval, the crypto platform…
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Hong Kong security chief Chris Tang Ping-keung has vowed to bring justice to people who fell victim to the JPEX crypto exchange fraud, local media has reported. The security chief’s office on Wednesday said that the police are actively looking for the key operators behind the JPEX crypto exchange that orchestrated the country’s largest digital…
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The Shanghai Second Intermediate People’s Court in China has reportedly recognized Bitcoin as a unique and non-replicable digital asset while acknowledging its scarcity and inherent value. The Chinese court released a report on Sept. 25 discussing the development of internet technologies. The report noted that with the development of Internet technology, digital currencies such as Bitcoin stand…
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