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 […]
The Canadian Securities Administrators (CSA) has provided guidance to the trading of stablecoins on crypto exchanges in the country. The update comes months after major exchanges, including Binance, halted operations in the country due to regulatory developments.The CSA has acknowledged that stablecoins, which it terms as “value-referenced crypto assets,” may constitute securities or derivatives. The […]
Sam Bankman-Fried, the founder of FTX, is currently on trial in a New York district court. Federal prosecutors have accused him of financial misconduct and misappropriation, while the defense argues that external factors played a significant role in FTX’s struggles. The trial has introduced cryptocurrencies to the jury, highlighting the significance of Bitcoin, Ethereum, Dogecoin, […]
The U.S. Bureau of Labor Statistics released a better-than-expected jobs report in September, which has had a positive effect on stock and bond markets. The nonfarm payroll employment increased by 336,000, and the unemployment rate remained unchanged at 3.8%. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all saw increases, and the 10-year […]
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 […]
The Basel Committee on Banking Supervision is considering requiring banks to disclose their crypto asset holdings in light of the banking crisis earlier this year. The committee, which operates under the Bank for International Settlements, identified holding crypto as one of the factors that led to the demise of several banks in March. At its […]
The Canadian Securities Administrators (CSA) has provided guidance to the trading of stablecoins on crypto exchanges in the country. The update comes months after major exchanges, including Binance, halted operations in the country due to regulatory developments.The CSA has acknowledged that stablecoins, which it terms as “value-referenced crypto assets,” may constitute securities or derivatives. The […]
Elon Musk, the billionaire entrepreneur, is facing a lawsuit from the U.S. Securities and Exchange Commission (SEC) for failing to comply with a subpoena for his testimony related to his acquisition of Twitter/X shares. The SEC has accused Musk of not appearing for a testimony scheduled for September 15, which had been served to him […]
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 […]
