Former FTX CEO, Sam Bankman-Fried, has concluded his testimony and cross-examination in his criminal fraud trial. During his testimony, Bankman-Fried acknowledged the existence of an $8 billion hidden debt within Alameda Research, which was discovered after a bug was fixed in an account called fiat@. He claimed to have discovered the massive transfer in September […]
The trial of former FTX CEO Sam “SBF” Bankman-Fried is currently underway in New York, and Cointelegraph reporters are providing live coverage of the proceedings. The trial is nearing its conclusion, with closing arguments set for November 1. Bankman-Fried took the stand and testified that he believed it was acceptable to utilize $8 billion in […]
Digital asset manager Valkyrie Investments has filed an updated spot Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The Valkyrie Bitcoin Fund aims to offer investors the opportunity to invest in common shares backed by Bitcoin. The shares will be traded under the ticker symbol “BRRR” on the Nasdaq Stock Market. […]
Scott Johnsson, a notable attorney from Davis Polk, has drawn attention to a closed-door meeting scheduled for November 2, which could potentially shed light on the approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC). The meeting, which is not open to the public, will focus on resolving litigation claims […]
There is speculation that Gary Gensler, the chief of the United States Securities and Exchange Commission (SEC), may reject spot Bitcoin exchange-traded funds (ETFs) in a surprising move. Bloomberg ETF analysts have discussed the possibility of Gensler allowing spot Bitcoin ETF applications to accumulate before denying them all at once, likening it to a “semi-comedic […]
Terraform Labs co-founder Do Kwon and his legal team have requested a United States district judge to dismiss the securities and fraud suit filed by the federal securities regulator. They argue that the Securities and Exchange Commission (SEC) has failed to provide evidence of any wrongdoing. Kwon and Terraform assert that their cryptocurrencies, including Terra […]
Asset management firm VanEck has amended its spot Bitcoin exchange-traded fund (ETF) application with the U.S. Securities and Exchange Commission (SEC). The amended filing reveals a unique seeding method, where the ETF will be seeded with Bitcoin. This approach differs from the seeding method used by competitor BlackRock. The filing states that an unnamed investor […]
United States-based cryptocurrency exchange Kraken has announced that it will comply with a court order to share the data of 42,000 users with the Internal Revenue Service (IRS). The court order, issued by the Northern District of California, requires Kraken to provide a wide range of records and data on its U.S. clients who have […]
Sam “SBF” Bankman-Fried, the CEO of FTX and Alameda Research, testified in his ongoing criminal trial in the Southern District Court of New York. He denied any wrongdoing between the two companies but admitted to making mistakes during their rapid growth.Bankman-Fried refuted claims that he directed his inner circle to make political donations, although he […]
Elon Musk, the owner of X (formerly known as Twitter), recently revealed new details about the company’s planned payment services. During an all-hands staff meeting, Musk stated that the app will cover almost all areas of finance, including money, securities, and more. He emphasized that X aims to be more than just a platform for […]
