Top Stories This Week 7 class action lawsuits have been filed against SBF so far, records show Former FTX CEO Sam Bankman-Fried has been named in seven class action lawsuits filed since the fall of his crypto empire. These lawsuits, however, are separate from the numerous probes and investigations examining the crypto exchange and its
Since their inception, cryptocurrencies have seen rapid growth and widespread market adoption, as evidenced by the assets tied to crypto assets that have started to appear in the portfolios and trading methods of numerous asset managers. The process of purchasing and selling cryptocurrencies to profit is known as cryptocurrency trading. Trading in cryptocurrencies can be
Since taking over at the United States Securities and Exchange Commission (SEC), chairman Gary Gensler has repeatedly been referred to as the “bad cop” of the digital asset industry. To this point, over the past 18 months, Gensler has taken an extremely hard-nosed approach toward the crypto market, handing out numerous fines and enforcing stringent
According to a discussion at the 151st Ethereum Core Developers Meeting on Dec. 8, core programmers have set a tentative deadline of March 2023 for Ethereum’s Shanghai hard fork. In addition, developers will aim for May or June 2023 to launch the Ethereum Improvement Protocol (EIP) 4844 upgrade that will introduce proto-danksharding to the network.
A court in South Korea has supported the decision of local exchanges to delist Wemade’s Wemix (WEMIX) tokens, dismissing Wemade’s request to cancel the delisting. The Seoul Central District Court ruled on Dec. 7 to justify the decision of the Digital Asset eXchange Alliance (DAXA) to delist WEMIX from major South Korean exchanges, The Korea
Taproot support across the industry is still crawling one year after the Bitcoin soft fork, indicating a strong potential for innovation and broader adoption of Web3 solutions to be unlocked through the world’s largest cryptocurrency, sources told Cointelegraph. “Since early on, Satoshi predicted that layers being built on top of the Bitcoin blockchain would enable Bitcoin
While many crypto fraudsters were able to slip through the cracks in the past, the same does not hold for FTX CEO Sam Bankman-Fried (SBF). Running parallel to the ongoing scrutiny related to FTX frauds, the United States Department of Justice (DOJ) is reportedly investigating a potential fraud that involves SBF siphoning funds offshore just
Web3 investment firm Paradigm has released a Rust implementation of Ethereum, according to a Dec. 7 announcement from the company’s chief technology officer, Georgios Konstantopoulos. The new software, called “Reth,” allows Ethereum validators to launch their nodes using Rust instead of Go, Java, or other programming languages. A previous Rust implementation had been released in
The states of the European Union have convened to establish a new limit on cash purchases and to strengthen the controls on cryptocurrency transactions. On Nov. 6 the bloc agreed to put a limit of €10,000 ($10,557) on cash payments and to exert stronger oversight on crypto transactions of over 1,000 euros ($1,055). European Union
Bitcoin (BTC) mining is the backbone of the BTC ecosystem and miners’ returns also provide insight into BTC’s price movements and the health of the wider crypto sector. It is well-documented that Bitcoin miners are struggling in the current bear market. Blockstream, a leading Bitcoin miner recently raised funds at a 70% discount. Current mining
United States lawmakers have been pushing for certain witnesses — including Sam Bankman-Fried — to appear before committee hearings scheduled in December. Who should the crypto space expect to see testifying on the events leading to the downfall of FTX? On Dec. 9, Bankman-Fried, or SBF, said — under threat of a potential subpoena —
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The United States regulators want to take a closer look at money laundering and terror financing laws by the Financial Crimes Enforcement Network (FinCEN), as it asked banking sector
The United States equities markets are headed for a down week as market participants remain cautious ahead of next week’s key consumer price index data for November. The CPI report will be followed by the Federal Reserve’s Federal Open Market Committee meeting on Dec. 13-14 where the central bank is expected to hike rates by 50
Crypto price action has been rough over the past few months, but a few green shoots are finally beginning to emerge. While Bitcoin (BTC) remains in a downtrend, its price has recently found support at the $17,000 level, and ping-pong price action in the $16,700–$17,300 range appears to be allowing traders to pursue some interesting
Bitcoin (BTC) investment vehicle Grayscale Bitcoin Trust (GBTC) is trading close to 50% below the BTC price on spot markets. Data from on-chain analytics platform Coinglass confirms that on Dec. 8, GBTC shares hit a new record low of -47.2% against BTC/USD. GBTC troubles pile up post-FTX In the latest bout of nerves to hit
Bitcoin (BTC) fell on the Dec. 9 Wall Street open as United States economic data appeared to disappoint markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Attention turns to Bitcoin vs. CPI “big trigger” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to come closer to $17,000 after passing the level overnight. The