Sam Bankman-Fried, the former CEO of FTX, has said he won’t testify before Congress until he’s finished learning and assessing what transpired. U.S. Representative Maxine Waters invited Bankman-Fried to appear at a hearing for the U.S. House Committee on Financial Services on December 13 to investigate “what happened” at FTX
While the cryptocurrency market is surrounded by lots of scandals Reddit’s Non-Fungible tokens (NFT) collection achieved an all-time high on December 3. A total of 255,000 Reddit NFT avatars were minted in a single day. In addition, more than 200,000 Reddit avatars were minted each day on Aug. 30 and
In a hearing on Thursday titled “Why Congress Needs to Act: Lessons Learned from the FTX Collapse,” U.S. Senator John Boozman (R-AR), the ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, discussed bitcoin and cryptocurrency regulation. Moreover, the committee’s mandate includes monitoring the American commodities markets.
The Nobel prize laureate Paul Krugman is warning that blockchain-based projects, such as Bitcoin and other cryptocurrency networks, will soon enter an unending cryptocurrency winter. A column written by an economist and published in the New York Times on December 1st explains the technology’s true value and the warning signals
A group of Nigerians who are unhappy with Atom Asset Exchange (AAX) allegedly attacked the company’s Lagos headquarters and beat up personnel, as reported by the local press. The irate crowd, allegedly, asked that a ban on withdrawals that had been in place since November 12 be lifted. Legit’s article
Bankrupt FTX subsidiary business Alameda Research made its largest venture investment in Genesis Digital Assets, a cryptocurrency mining firm. On December 3rd, Bloomberg released documents showing that in less than nine months, Genesis Digital had raised $1.15 billion from Alameda. Injection of funds took place between August 2021 and April
According to a Dec. 3 Financial Times report citing people familiar with the subject. Crypto lender Genesis and its parent firm Digital Currency Group (DCG) are believed to owe $900 million to Gemini’s consumers. Furthermore, the problem originated with the shocking FTX crash in November. In cooperation with Genesis, the
Despite the volatile price of Bitcoin, a recent analysis by Kommersant shows that purchases of Bitcoin mining devices in the nation skyrocketed in the fourth quarter. Low costs for gear and power have also contributed to the dramatic growth. Sales at Chilkoot, one of Russia’s authorized dealers of cryptocurrency mining
Cranfield, England, 3rd December, 2022, Chainwire Investment and philanthropy platform WAHED has donated 5 million of its utility token WAHED Coin to Fondazione Europea Alessandro Cenci (FEAC) at a private event in Rome. FEAC is an Italian non-profit organization focused on awareness, education and research to improve the care
Orca, a prominent decentralized exchange based on Solana, has launched a fiat-to-cryptocurrency gateway after integrating the ‘Stripe’ payments service provider. Stripe’s first-ever integration with a decentralized exchange on any blockchain is happening right now, thanks to the Orca onramp. At launch, customers of Orca will be able to bypass the
