Tensions ran high in court as lawyers representing BlockFi and 3AC clashed over the handling of the legal proceedings. BlockFi’s lawyer accused 3AC of prolonging the case and accumulating a hefty $16 million in legal fees. In response, 3AC’s lawyer deemed these comments inappropriate and reckless. He reminded the court that the founders of 3AC […]
Former FTX CEO Sam “SBF” Bankman-Fried is currently on trial for fraud, and his former business associate and girlfriend, Caroline Ellison, recently testified against him. Ellison admitted to fraud during her time at Alameda under Bankman-Fried’s direction, claiming that he set up the systems that allowed Alameda to take roughly $14 billion from FTX user […]
Caroline Ellison, the former CEO of crypto trading firm Alameda Research, testified in the trial of Sam Bankman-Fried, accusing the FTX founder of directing her to commit crimes. Ellison, who has pleaded guilty to fraud charges, claimed that Bankman-Fried instructed her to siphon billions of dollars from FTX to make high-risk investments and repay loans. […]
In recent developments, the portrayal of Sam Bankman-Fried (SBF), the indicted founder and former CEO of the now-defunct cryptocurrency exchange FTX, has sparked a contentious debate. Influential figures like Charles Hoskinson and Nassim Nicholas Taleb have weighed in, igniting a discussion about SBF’s character and accountability.The controversy centers around SBF’s depiction in Michael Lewis’s book […]
The U.S. Securities and Exchange Commission (SEC) has argued in a court motion against Coinbase, the top US crypto exchange, that digital assets have no inherent value. The SEC claims that unlike tangible assets such as real estate, digital tokens cannot generate profits on their own and rely on an ecosystem to drive demand. The […]
Former FTX CEO Sam “SBF” Bankman-Fried is currently on trial for fraud, and his former business associate and girlfriend Caroline Ellison recently testified against him. Ellison admitted to committing fraud at Alameda under Bankman-Fried’s direction, claiming that he “set up the systems” that allowed Alameda to take around $14 billion from FTX user funds. She […]
One of the key points of discussion in the ongoing trial of former FTX CEO, Sam Bankman-Fried (SBF), is the reaction of Judge Lewis Kaplan to the defense’s tactics during cross-examination. On the third day of the trial, the defense questioned Adam Yedidia, a close friend of SBF and former FTX employee. However, Judge Kaplan […]
Paul Tudor Jones, billionaire hedge fund manager and founder of Tudor Investment Corporation, has expressed concerns about the current state of the stock market. In an interview with CNBC’s Squawk Box, Jones highlighted escalating geopolitical risks and the deteriorating US fiscal position as reasons for his unease. He noted that the Israel-Hamas war has created […]
Street artist Nelson Saiers, also known as the “Warhol of Wall Street,” has unveiled his latest guerilla installation titled “Rug Pull” in front of the United States Securities and Exchange Commission (SEC) in downtown Manhattan’s Financial District. The installation features vibrant doormats that have been spray-painted with the word “pull,” symbolizing the victims of rug […]
US dollar stablecoin issuer Circle has announced that it is now minting USD Coin (USDC) natively on the Ethereum layer 2 scaling protocol Polygon. This means that users and developers can access USDC without the need to bridge the stablecoin from Ethereum or any other blockchain. Circle Mint and Circle’s developer APIs now support Polygon-based […]
