Sam Bankman Fried, the CEO of the shuttered crypto exchange FTX, was arrested in the Bahamas on December 12 after US prosecutors filed criminal charges. According to an announcement from the Bahamas Attorney General (AG) and Minister of Legal Affairs, Ryan Pinder, SBF was arrested by the Royal Bahamas police
Bybit, another major cryptocurrency exchange, has joined the chorus of its peers calling for more openness in the wake of the FTX disaster. Its Merkle Tree-based proof-of-reserve technology was disclosed to the public on December 12. Through this new endeavor, Bybit’s users will be able to independently check the exchange’s
On December 10th, a flash loan attack was conducted using the Arbitrum-based Lodestar Finance lending protocol. An attacker, as reported by Lodestar, artificially inflated the value of the plvGLP token used on the PlutusDAO platform. And then used that token to drain the platform dry of all available liquidity. Lodestar
Jon Tester, the senior senator from Montana, has held that position since 2007. In fact, he serves on the Senate Banking Committee and is a significant figure in US crypto regulations. On Dec 11, NBC’s news conference stated that there is “no reason why crypto should exist.” He also claimed
Cathie Wood, CEO of Ark Invest, recently tweeted her admiration for Bitcoin’s resiliency, noting that the flagship cryptocurrency “didn’t skip a beat” amid a recent crisis. Additionally, she claims that Bitcoin’s transparency and decentralization are reasons why discredited FTX founder Sam Bankman-Fried disliked it. The well-known investor said, “He couldn’t
Former Alameda Research CEO Caroline Ellison has engaged a former official of the Securities and Exchange Commission (SEC) and law firm WilmerHale to defend her in connection with the continuing investigation into the fatal demise of the cryptocurrency exchange FTX and its trading business Alameda Research. While at the SEC,
On Thursday, the Ren Protocol team advised users of the Alameda-backed cryptocurrency that they may lose their funds if they did not take quick action. According to the cross-chain bridge, the Ren 2.0 update to the current product (Ren 1.0) could not be backwards compatible. To avoid “losing them,” Ren
On December 1st, Symbiont filed for Chapter 11 bankruptcy. After having joined the rush of businesses over a decade ago. Aiming to introduce crypto’s underlying blockchain technology into conventional finance. In a petition with the United States Bankruptcy Court for the Southern District of New York. The corporation said that
Amber Group, a cryptocurrency trading business located in Singapore, is reportedly ending a $25 million sponsorship arrangement with the football team Chelsea FC as published by Bloomberg and cited by an anonymous source. To reduce its headcount to around 400, Amber Group, financed by Temasek and Sequoia Capital, is also
A new amendment to Hong Kong’s Anti-Money Laundering (AML) and terrorist financing system, which includes virtual asset service providers, was recently enacted by the legislative council. On June 1st, 2023, a new licensing system for virtual asset service providers will go into effect. As a result of recently passed legislation.
