Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellison admitted to fraud during her time as CEO at Alameda under Bankman-Fried’s direction. However, she blamed the misuse of FTX user…
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A United States judge has approved an order requiring Genesis Global entities to produce certain documents in accordance with a subpoena requested by Terraform Labs. In an Oct. 13 filing in U.S. District Court the Southern District of New York, Judge Jed Rakoff said Genesis would have 5 days — likely until Oct. 18 —…
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Stock markets flashed green at the weekly open, and crypto prices followed. Source link
United States Securities and Exchange Commission chair Gary Gensler has reportedly stated that, without some form of intervention, a financial crisis stemming from the widespread use of artificial intelligence was “nearly unavoidable.” The chair’s comments came during an interview with the Financial Times where, according to the article, Gensler says this crisis could come within…
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The United States Securities and Exchange Commission released its 2024 examination priorities report on Oct. 16. The agency’s Division of Examinations has been publishing similar reports for over a decade to let its registrants know the emerging risks it will be focusing on. Crypto dealer-brokers, among others, have been given notice. The SEC’s examinations division…
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Former FTX engineering director Nishad Singh reportedly told a New York courtroom that former CEO Sam “SBF” Bankman-Fried had a habit of deciding on purchases through Alameda Research by himself. According to reports from SBF’s criminal trial on Oct. 16, Singh said while Caroline Ellison and Sam Trabucco led Alameda, Bankman-Fried was “ultimately” in charge…
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“We’re contorting ourselves to pass through the keyhole of tyranny.” Edward Snowden’s words ring out in the packed Genesis Stage hall at Bitcoin Amsterdam, stressing the preeminent cryptocurrency’s ever-increasing importance in a world beset by creeping government surveillance, devaluing fiat currencies and restrictive policies. The renowned whistleblower’s address summed up a recurring theme during the…
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Troubled cryptocurrency platform Haru Invest is planning to suspend its server a few months after halting withdrawals in June 2023. Haru Invest is thinking of shutting down its server in order to reduce the server maintenance costs of services, Haru Invest CEO Hugo Lee announced on Oct. 16. The CEO emphasized that the server maintenance…
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The Reserve Bank of Australia (RBA) is open to using a central bank digital currency (CBDC) as the future of money, where state-issued digital money would represent a tokenized form of central bank reserves. In a speech titled “A Tokenised Future for the Australian Financial System,” Brad Jones, assistant governor (financial system) of the RBA, talked about…
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Fraudsters in Ireland prefer targeting traditional banking customers as compared to cryptocurrency investors amid a two-year-long bear market. The frequency of cryptocurrency scams is often directly proportional to the hype and profits around the ecosystem at a given time. It appears that the ongoing crypto bear market has helped eradicate at least some of the…
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