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 […]
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 […]
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, […]
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 […]
The United States Securities and Exchange Commission (SEC) chief, Gary Gensler, recently delivered a speech at the 2023 Securities Enforcement Forum, where he discussed the regulatory body’s enforcement actions. Gensler highlighted that these actions resulted in $5 billion in judgments and orders. However, it was his comments about the cryptocurrency market that caught the attention […]
Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), has expressed his strong stance on cryptocurrencies, emphasizing that most digital assets should be classified as securities. This indicates that the SEC will be increasing its scrutiny and regulation of the crypto industry. Gensler’s remarks highlight the growing concerns surrounding the lack of […]
Prominent attorney John Deaton has shared his views on the ongoing case between Ripple and the US Securities and Exchange Commission (SEC). Deaton predicts a prolonged timeline before a final judgment is reached and believes that a settlement between the two parties is unlikely. He emphasizes that the penalty phase of the case will require […]
Sam Bankman-Fried’s trial is set to resume on October 27, with the prosecution bringing its final witnesses before resting its case. The prosecution initially expected the trial to conclude by October 30, but now believes it will take longer due to complications arising from Bankman-Fried’s testimony. The defense plans to re-examine the testimonies of Gary […]
Asset manager Hashdex recently met with the U.S. Securities and Exchange Commission (SEC) to address concerns about its application for a Bitcoin Futures exchange-traded fund (ETF). The meeting, which took place on October 13, included representatives from Hashdex, NYSE Arca, Tidal Financial Group, and law firm K&L Gates. Hashdex presented its mechanism for trading and […]
Tom Emmer, a vocal advocate for cryptocurrencies, has been nominated by Republican members as their nominee for the position of Speaker in the U.S. House of Representatives. This nomination reflects the growing interest in cryptocurrency-related issues within the Republican party. The Speaker’s seat has been vacant since October 3, leading to the removal of Representative […]
