Gary Wang, co-founder of FTX, revealed more details of Alameda Research’s corrupt relationship with his exchange during Sam Bankman-Fried’s fraud trial on Friday. Wang claimed that the function required for Alameda to steal client funds had been baked into FTX’s computer systems back in 2019. Alameda was granted three special privileges at FTX compared to […]
Friend.tech, a decentralized social media platform built on the Base, the Ethereum layer-2 scaling solution backed by Coinbase, has generated more fees and revenue than Bitcoin. This transactional platform allows users to move value, and on October 6, it generated $28.6 million in fees, above Bitcoin’s $26.8 million. Base periodically bundles transactions and confirms them […]
The decentralized exchange THORSwap, based on ThorChain, has paused all trading activity after suspicious transactions were detected on the platform. These transactions were linked to the FTX hackers who had stolen $600 million from FTX shortly after the exchange filed for bankruptcy. Following an evaluation of the situation and consultation with advisors, legal counsel, and […]
The Securities and Futures Commission (SFC) of Hong Kong has teamed up with the Hong Kong Police Force (HKPF) to form a working group that aims to combat illegal activities on virtual asset trading platforms (VATPs). The group is composed of representatives from the SFC’s Enforcement Division and Intermediaries Division and HKPF’s Commercial Crime Bureau, […]
The U.S. Commodity Futures Trading Commission (CFTC) has determined that Stephen Ehrlich, a co-founder of Voyager Digital, violated derivatives regulations before the company’s bankruptcy last year. The CFTC’s enforcement division has recommended formally accusing Ehrlich of providing customers with misleading information regarding the safety of their assets. Ehrlich has stated that the anticipated lawsuit “angered […]
The United States Commodity Futures Trading Commission (CFTC) is reportedly considering an enforcement action against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. The CFTC staff are allegedly looking into claims that Ehrlich violated U.S. derivatives regulations prior to Voyager’s bankruptcy filing in July 2022. Ehrlich has denied the allegations, claiming that […]
Two co-founders of the defunct Singaporean hedge fund Three Arrows Capital (3AC) have been arrested and sentenced to four months in prison for failing to comply with a court order. 3AC, which managed more than $10 billion in digital assets prior to its collapse last June, has left creditors with over $3.5 billion in claims. […]
MetaMask, a wallet provider, has developed a new feature called MetaMask Snaps to give users more insights into their transactions and interactions within the application. Francesco Andreoli, the head of the developer community at ConsenSys, spoke about how they ensure that the feature is secure for users. He highlighted the importance of consent and ensuring […]
Sam Bankman-Fried, the founder of Alameda Research, a trading desk, and Gary Wang, one of the co-founders of the cryptocurrency platform FTX, have been embroiled in a legal battle. Wang has accused Bankman-Fried of wire fraud, alleging that Alameda Research had access to privileged information and resources on FTX, including the ability to withdraw funds […]
Gary Wang, former CTO of FTX, testified in court on the third day of SBF’s trial. He pleaded guilty and admitted to committing crimes at FTX with Nishad Singh, Caroline Ellison and Sam Bankman-Fried. Wang revealed that FTX made money through trading fees and that the sister platform Alameda Research was created to make it […]
