Sam Bankman-Fried, the former CEO of FTX, is currently facing a six-week trial with seven charges related to fraud and conspiracy to commit fraud. If convicted, he could face over 100 years in prison. On the first day of the trial, Bankman-Fried’s defense counsel delivered an opening statement to the 12 jurors who will decide […]
The federal court, led by Judge Analisa Torres, recently rejected the SEC’s plea for an interlocutory appeal in their litigation against Ripple. This decision maintained that XRP is not a security, and Ripple is facing a substantial penalty of $700 million for the unauthorized sale of securities to institutional entities. The case is set to […]
The world’s largest asset manager BlackRock created a stir in the crypto market when it filed for a spot Bitcoin ETF in June 2023. However, the U.S. Securities and Exchange Commission (SEC) recently delayed the approval of the ETF. Former BlackRock managing director Steven Schoenfield believes that the SEC could approve the ETF within the […]
Marc-Antoine Julliard, a London-based cocoa beans trader, was the first witness to testify against Sam Bankman-Fried (SBF), the founder and former CEO of the bankrupt cryptocurrency exchange FTX. Julliard had invested $100,000 in the platform in 2021 and was left in limbo when it filed for bankruptcy in November 2022. During his testimony, Julliard said […]
The ongoing trial of the former CEO of the defunct crypto exchange FTX, Sam Bankman-Fried, continued on October 4 with both parties giving their opening arguments. The prosecution accused SBF of stealing customers’ funds up to $10 billion and spending it on himself and political contributions. The defense argued that SBF acted in good faith […]
The FTX exploiter has moved roughly $36.8 million worth of Ether ETH in the last 24 hours, amidst the ongoing court trials of the defunct crypto exchange’s ex-CEO Sam Bankman-Fried (SBF). On November 11, 2022, accounts linked to FTX and FTX U.S. were drained off $600 million, hours after the crypto exchange had filed for […]
Binance, the world’s leading cryptocurrency exchange, has announced that it will be delisting 19 BUSD trading pairs on October 6th. The exchange cites poor liquidity and an upcoming discontinuation of BUSD support in Q1 2024 as possible reasons for the delisting. Tokens remain available on Binance’s Spot platform, and users are advised to update or […]
CMCC Global, a Hong Kong-based venture capital firm, has raised $100 million to support Asian blockchain startups. The fund, called Titan Fund, was backed by 30 investors including Block.one, Pacific Century Group, Winklevoss Capital, Jebsen Capital, and Animoca Brands founder Yat Siu. The fund will focus on investments in blockchain infrastructure, consumer applications such as […]
Binance, one of the world’s largest cryptocurrency exchanges, is withdrawing from Russia due to pressure from US regulators. This has led to the acquisition of Binance’s Russian operations by CommEx, a company that anticipates approximately one million customers to transition to its platform. However, not all of Binance’s Russian customers are expected to migrate to […]
The US Securities and Exchange Commission (SEC) and Ripple have been in a legal battle for some time now. On October 3, a federal judge dismissed the SEC’s appeal, ruling that Ripple’s XRP sales years ago did not constitute an offer of investment contracts. This decision has given Ripple an upper hand in the legal […]
