Lawyers currently representing Sam Bankman-Fried, or SBF, for his criminal case in the United States plan to elicit evidence the former CEO acted “in good faith” on advice of previous counsel in regards to his alleged actions at FTX and Alameda Research. In an Aug. 23 filing in U.S. District Court for the Southern District
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Bankrupt cryptocurrency lender BlockFi is trying to block attempts by the similarly bankrupt FTX and Three Arrows Capital (3AC) that aim to retrieve hundreds of millions of dollars to pay back their creditors. BlockFi claimed in an Aug. 21 filing to a New Jersey bankruptcy court that its own creditors shouldn’t be pushed to the
Bitcoin (BTC) network fundamentals are in no mood to follow bearish BTC price action this week. The latest on-chain data confirms that difficulty has hit new all-time highs, with hash rate not far behind. Bitcoin mining difficulty ends slump Despite BTC/USD dropping 10% last week, Bitcoin miners appear to be taking the price downturn in
FTX founder Sam Bankman-Fried has seemingly been doing it tough behind bars, eating only bread with peanut butter to accommodate his vegan diet, while exhausting his supply of prescription medication. In the same hearing where Bankman-Fried pleaded not guilty to seven fraud-related charges, Bankman-Fried’s lawyers pleaded for the former FTX CEO to receive better treatment
Zero-knowledge proof technology continues to garner interest and investment as Binance Labs becomes the latest firm to invest in ZK-proof-powered infrastructure developed by Delphinus Lab. Binance’s venture capital arm announced a strategic investment into Delphinus Lab’s zero-knowledge WebAssembly (zk-WASM) virtual machine. The zk-WASM is being labeled as the first known open-source virtual machine to support
Numerous theories emerge whenever the price of Bitcoin (BTC) takes a sudden and steep drop. The usual suspects include government regulations, the possibility of exchanges manipulating prices, Bitcoin whales manipulating prices, over-leveraged traders, and some conspiracies involving Tether (USDT). SEC kicks Bitcoin ETF can down the road Between Aug. 15 and Aug. 18, Bitcoin’s price
A federal judge has sentenced former nonfungible token (NFT) marketplace OpenSea product manager Nathaniel Chastain to 3 months in prison for wire fraud and money laundering related to insider trading on the platform. In an Aug. 22 announcement from the United States Department of Justice, U.S. Attorney Damian Williams said Chastain had been sentenced to 3
The recent crypto crash hit meme coins hard, culminating with a 9% drop in total market capitalization from Aug. 14 to Aug. 21. During the same period, Pepe (PEPE), Shiba Inu (SHIB), and ApeCoin (APE) saw a 25% decline. The big question is whether this trend will affect the wider market, signaling a broader bear
Ran Neuner is the CEO of Onchain Capital, founder of Crypto Banter, and a vocal crypto commentator on X. Crypto Banter’s Ran Neuner has a “problem with the structure of XRP and Ripple.” While he appreciates Ripple sticking it to the SEC, he is hung up on the “moral and ethical” side of things with
A former OpenSea executive has been sentenced to three months in prison for insider trading. The executive, Nathaniel Chastain, reportedly made over $50,000 in 2021 from his NFT insider trading scheme. Chastain pled not guilty last year, claiming that no one told him he couldn’t use the insider information. A former OpenSea executive has been
The Stellar Development Foundation has joined the Bytecode Alliance, an industry group promoting the development of WebAssembly (Wasm), according to an Aug. 21 announcement. Wasm is a competitor to the Ethereum Virtual Machine (EVM) used by the Ethereum ecosystem. It is also used in non-blockchain, browser-based applications. We are officially members of @bytecodeallies! Our goal?
Bitcoin (BTC) stayed stubbornly anti-trend on Aug. 22 as $26,000 became a magnet for intraday BTC price action. BTC/USD 1-hour chart. Source: TradingView BTC price “death chop” returns Data from Cointelegraph Markets Pro and TradingView tracked a third day of sideways performance for BTC/USD. Despite being heavily oversold, according to relative strength index (RSI) readings,
Sam Bankman Fried, the former CEO and co-founder of FTX crypto exchange, has pleaded not guilty to fraud and money laundering charges levied in an updated indictment by prosecutors, according to a report. Bankman Fried appeared in the Southern District of New York courthouse on Aug. 22 facing accusations of misusing customer funds for personal
Layer 1 blockchain Terra has temporarily shut down its website in order to protect users from ongoing phishing scams on the platform. “The terra(dot) money domains have successfully been frozen to prevent further user phishing scams, but a full resolution is still underway,” Terra officially announced on X (formerly Twitter) on Aug. 22. Terra advised
OpenSea remains on the sidelines as Blur dominates NFTs trading volume on Ethereum. Although the general drop in interest has affected activity on Blur, its daily sales volume puts it ahead of OpenSea Across Ethereum-native NFTs marketplaces, Blur remains dominant as the NFT marketplace and aggregator, accounting for nearly 60% of all trading volume on
The South Korean city of Cheongju, the capital of North Chungcheong province, has said it intends to begin confiscating cryptocurrency from local tax delinquents. The administration of Cheongju has requested seven South Korean crypto exchanges to inquire into the holdings of thousands of tax evaders, according to a report from local news agency Yonhap on Aug.
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