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Day: October 26, 2023

  1. Home
  2. 2023
  3. October
  4. 26
FTX CEO Trial: Prosecution Wraps Up as Defense Counsel’s Case Remains Uncertain
  • bob
  • 2023-10-26
  • Company News
  • Cryptocurrency Exchanges
  • North America
  • Regulatory Developments

FTX CEO Trial: Prosecution Wraps Up as Defense Counsel’s Case Remains Uncertain

The trial of former FTX CEO Sam “SBF” Bankman-Fried in New York continues, with prosecutors resting their case on October 26. FBI agent Mark Troiano provided testimony about his analysis of over 300 Signal groups associated with Bankman-Fried. The defense called witnesses, including Bahamas attorney Krystal Rolle, who discussed FTX’s transfer of digital assets to […]

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Crypto Winter: Terra Network and Do Kwon’s Catastrophic Collapse
  • bob
  • 2023-10-26
  • Cryptocurrency Innovations
  • Financial Scams and Security
  • Market Updates
  • World

Crypto Winter: Terra Network and Do Kwon’s Catastrophic Collapse

The Terra network and its founder, Do Kwon, experienced a rapid rise and fall in the crypto world. In May 2022, the price of the algorithmic stablecoin UST, which is designed to maintain a $1 peg, began to fluctuate and eventually plummeted to 35 cents. This caused its companion token, LUNA, which was meant to […]

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Former FTX CEO Testifies in New York Court on Allegations of Funds Misuse and Shadowy Entity Creation
  • bob
  • 2023-10-26
  • Cryptocurrency Exchanges
  • Financial Scams and Security
  • Government Policies and Cryptocurrency Adoption
  • North America

Former FTX CEO Testifies in New York Court on Allegations of Funds Misuse and Shadowy Entity Creation

Former FTX CEO Sam “SBF” Bankman-Fried testified in a New York courtroom regarding allegations of using customer funds from the crypto exchange to make investments through Alameda Research without users’ knowledge. Bankman-Fried claimed that he followed company policies on records and that none of the media set to “auto-delete” were used for decision-making. He stated […]

Read More
Lawmakers Call for DOJ Investigation into Binance and Tether Over Suspected Involvement in Illicit Financing
  • bob
  • 2023-10-26
  • Cryptocurrency Regulations
  • Financial Scams and Security
  • Government Policies and Cryptocurrency Adoption
  • Middle East

Lawmakers Call for DOJ Investigation into Binance and Tether Over Suspected Involvement in Illicit Financing

US lawmakers are urging the Justice Department to investigate Binance and Tether for their alleged involvement in facilitating illicit financing for terrorist groups, including Hamas. In a letter to Attorney General Merrick Garland, Senator Cynthia M. Lummis and Representative French Hill called for decisive action if the firms are found complicit. The lawmakers highlighted Binance’s […]

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JPMorgan’s JPM Coin Revolutionizes Global Money Movement with $1 Billion Daily Transactions
  • bob
  • 2023-10-26
  • Company News
  • Cryptocurrency Innovations
  • Fintech and Blockchain Startups
  • World

JPMorgan’s JPM Coin Revolutionizes Global Money Movement with $1 Billion Daily Transactions

JPMorgan, one of the leading American banks, is making significant strides in its digital finance strategy. The bank is processing $1 billion in transactions daily through its own digital token, JPM Coin. This milestone highlights the growing adoption of blockchain technology in the financial industry. JPMorgan’s innovative approach to digital transactions is revolutionizing how institutional […]

Read More
Lawmakers Call for Charges Against Binance and Tether Over Alleged Terrorist Financing
  • bob
  • 2023-10-26
  • Cryptocurrency Exchanges
  • Financial Scams and Security
  • Government Policies and Cryptocurrency Adoption
  • Middle East

Lawmakers Call for Charges Against Binance and Tether Over Alleged Terrorist Financing

US lawmakers are calling on the Department of Justice (DOJ) to take action against major cryptocurrency companies Binance and Tether. They allege that these companies have facilitated illicit financial activities, including funding for the terrorist group Hamas. Senator Cynthia Lummis and Representative French Hill have sent a letter to Attorney General Merrick Garland, citing media […]

Read More
Former FTX CEO Sam Bankman-Fried Testifies in High-Stakes Fraud Trial
  • bob
  • 2023-10-26
  • Company News
  • Cryptocurrency Exchanges
  • Financial Scams and Security
  • Middle East

Former FTX CEO Sam Bankman-Fried Testifies in High-Stakes Fraud Trial

Former FTX CEO, Sam Bankman-Fried, is set to testify in the ongoing criminal FTX fraud trial. He is facing allegations of misusing customer and investor funds, which led to FTX’s Chapter 11 filing. Bankman-Fried’s previous statements, made in a non-legal context, are now under scrutiny as he testifies under oath. Key testimonies from former colleagues […]

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Younger Generations Embrace Crypto as Path to Financial Independence
  • bob
  • 2023-10-26
  • Economic Indicators
  • North America

Younger Generations Embrace Crypto as Path to Financial Independence

A recent report by Coinbase sheds light on the disillusionment of younger generations, namely Gen Z and Millennials, with the traditional American dream and financial system. These young Americans are increasingly open to unconventional paths to financial independence, such as cryptocurrency, as they find the American dream less attainable due to factors like high housing […]

Read More
FTX CEO’s Trial Nears End as Defense Presents Witnesses and Prosecution Rests Case
  • bob
  • 2023-10-26
  • Company News
  • Cryptocurrency Exchanges
  • North America
  • Regulatory Developments

FTX CEO’s Trial Nears End as Defense Presents Witnesses and Prosecution Rests Case

Attorneys representing the United States Justice Department have concluded their case against Sam “SBF” Bankman-Fried after three weeks of expert witnesses and testimonies from former FTX and Alameda employees. The government’s final witness was FBI agent Mark Troiano, who testified about SBF’s involvement in over 300 groups on the messaging app Signal. Following Troiano’s testimony, […]

Read More
JPMorgan’s Digital Token, JPM Coin, Processes $1 Billion in Daily Transactions
  • bob
  • 2023-10-26
  • Company News
  • Cryptocurrency Innovations
  • Fintech and Blockchain Startups
  • North America

JPMorgan’s Digital Token, JPM Coin, Processes $1 Billion in Daily Transactions

JPMorgan Chase & Co. has achieved a significant milestone in its blockchain initiative with its digital token, JPM Coin, now processing $1 billion worth of transactions daily. The coin, which operates on Quorum, a private blockchain developed by the bank, enables instant payments between clients with accounts at JPMorgan. Each JPM Coin is pegged 1:1 […]

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