On Dec. 13, 2022, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Sam Bankman-Fried (SBF), FTX Trading LTD., and Alameda Research. The CFTC alleges that FTX customer deposits, “throughout the relevant period,” including both fiat currencies and cryptocurrencies, were reportedly “appropriated by Alameda for its own use.” U.S. Commodity Futures Trading Commission:
Ether (ETH) rallied 6.3% to $1,350 on Dec. 13, mimicking a similar failed attempt that took place on Nov. 10. Despite reaching the highest level in 33 days, the gains were not enough to instill confidence in traders according to two key derivatives metrics. Bulls’ frustrations can partially be explained by Binance exchange facing a
Damian Williams, United States Attorney for the Southern District of New York, said the investigation leading to charges against former FTX CEO Sam Bankman-Fried had been “very, very fast” but prosecutors were “not done” with arrests. In a press conference livestream on Dec. 13, Williams said the timing of the arrest of Bankman-Fried had been
On Monday, court documents from lawyers involved with the FTX Trading LTD Chapter 11 bankruptcy case allege that the government of The Bahamas asked the disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint new crypto tokens. The lawyers detailed that it was a “request for live, dynamic access that would be provided immediately to the
In a recent blog post, cryptocurrency legend and former BitMEX CEO Arthur Hayes mentioned he holds sizable bags of GMX and LOOKS tokens. According to Hayes, his main reasoning for investing in both tokens was their platform revenue and the potential of both assets to outperform standard treasury bills. Let’s take a brief look at
The indictment against Sam Bankman-Fried (SBF) was unsealed Dec. 13. The indictment, signed by U.S. Attorney for the Southern District of New York Damian Williams, is 14 pages long and containe eight counts. The charges listed against SBF in the indictment are: Conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to
sponsored Dubai, December 13th – Zogi Labs, a pioneering crypto company & gaming studio famously known for the BEZOGE token and the up-and-coming crypto-based MMORPG, The Legends of Bezogia today announces its partnership with Cronos. Zogi Labs has won a spot amongst batch 6 of the Cronos ecosystem grant, alongside the signing of an MOU
Following the FTX collapse, the largest cryptocurrency exchange by trade volume, Binance, has been surrounded by rumors and speculation in recent times. On Dec. 12, 2022, Reuters reported that U.S. Department of Justice prosecutors have been investigating Binance, according to four people familiar with the matter. Moreover, while a number of crypto assets have risen
Though Sam Bankman-Fried could not attend the congressional hearing virtually due to his recent arrest in the Bahamas, United States lawmakers held no punches criticizing the former FTX CEO and business practices at the firm. As the sole witness before a hearing of the U.S. House Financial Services Committee on Dec. 13, FTX CEO John
Avalanche rose to a one-week high on Tuesday, as markets reacted to the latest inflation report in the United States. Consumer prices rose to 7.1% in November, which was lower than the 7.3% markets had expected. The figure was also 0.6% lower than October’s reading of 7.7%. Litecoin also rebounded on the data, rising by
The sudden failure of FTX has left many people questioning the impact this will have on the cryptocurrency ecosystem. For instance, it remains questionable whether or not crypto hotspots will continue to flourish or if there will be a decline in innovation. While it may be too soon to fully understand the impact of the
According to a statement published on Dec. 13, 2022, the U.S. Securities and Exchange Commission (SEC) has charged the disgraced FTX co-founder Sam Bankman-Fried (SBF) with defrauding investors. SEC chairman Gary Gensler explained that the U.S. financial regulator alleges that SBF “built a house of cards on a foundation of deception.” U.S. SEC Contends Former
Since Cointelegraph Markets Pro launched — bringing professional crypto market intelligence to every investor — the platform has helped thousands of subscribers to better understand the opportunities and threats inherent in the world of crypto investing and trading. In this brief, we want to draw attention to some highlights since the platform’s launch, including a
While some gamers are against nonfungible token (NFT) integration for games, a large portion are willing to play if they are given opportunities to earn cryptocurrency, according to a recent survey. In an announcement, fintech firm Zeebedee published the results of a study that surveyed gamers based in the United States to measure their exposure
Bitcoin (BTC) hit new one-month highs on Dec. 13 as United States inflation data sent a surge of optimism through markets. BTC price rebounds aU.S. inflation slows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $18,105 on Bitstamp after the Consumer Price Index (CPI) print for November came in below expectations. The readout,
The United States Commodity Futures Trading Commission, or CFTC, has filed a lawsuit against Sam Bankman-Fried, FTX and Alameda Research, claiming violations of the Commodity Exchange Act and demanding a jury trial. According to court records filed Dec. 13 in the Southern District of New York, the CFTC filed a complaint for injunctive and other
Bitcoin surged to a one-month high on Dec. 13, ahead of the latest inflation report from the United States. It is expected that consumer prices will fall to 7.3% in November, which would be a drop of 0.4% from the month prior. Ethereum was also higher in today’s session, as prices neared the $1,300 mark.
“In a massive solar storm, which would be hugely damaging to a modern economy’s infrastructure, the blockchain parts might well be the only parts that survive.” — Jason Potts What was the Carrington Event? In a November 1859 meeting of the Royal Astronomical Society, British astronomer Richard Christopher Carrington reported to the esteemed scientific body
Authorities in Canada are taking measures to better protect Canadian cryptocurrency investors in the aftermath of the FTX collapse and the spreading contagion. The Canadian Securities Administrators (CSA), the council of Canada’s provincial and territorial securities regulators, on Dec. 13 issued an update to crypto trading platforms operating in the country. The CSA said that
The Bahamas government reportedly worked with former FTX CEO Sam Bankman-Fried to issue a new cryptocurrency controlled by local officials. Following the FTX collapse in November, Bahamas government officials reportedly asked Bankman-Fried to mint new digital assets worth “hundreds of millions of dollars,” lawyers for FTX said in a court filing, Bloomberg reported on Dec.