As the crypto market declined in 2022, the departures began en masse. Several high-profile CEO stepped down from their respective roles at the head of crypto-centric firms in 2022, including Jesse Powell of Kraken, Michael Saylor of MicroStrategy, Alex Mashinsky of Celsius, and Sam Bankman-Fried of FTX. The reasons given for stepping down vary—the bankruptcy of their company for some,…
Former FTX CEO Sam Bankman-Fried (SBF) may not be able to offset the two counts of wire fraud and six counts of conspiracy he faces with the credits to be received for entering a guilty plea instead of going to trial. Set to appear in court in the first days of January to enter a plea deal, Bankman-Fried is “unlikely…
It’s a weird world when a developer is arrested for writing code, while an alleged fraudster who allegedly commingled $8 billion in user funds enjoys the holidays with his family. But that’s where the crypto industry stands at the close of 2022. The second half of 2022 was a rocky time in this industry, to say the least, with most…
Turkey’s central bank announced today that it had completed the first set of tests for its long-planned digital currency. The Central Bank of the Republic of Turkey (CBRT) said that it plans to continue running tests for its digital lira next year. “The CBRT will continue to run the limited, closed-circuit pilot tests with technology stakeholders in the first quarter…
Its been 105 days since Ethereum transitioned from a proof-of-work (PoW) blockchain to a proof-of-stake (PoS) network and the number of Ethereum validators is set to surpass 500,000 in 2023. According to metrics, Ethereum’s issuance rate of new coins has dropped considerably and only 4,790.45 ether has been minted since The Merge took place on Sept. 15, 2022. Ethereum’s Issuance…
Wallets linked to Alameda Research, FTX founder Sam Bankman-Fried’s collapsed trading firm, continue to shuffle around crypto funds and are using coin mixers to obscure transactions, blockchain analysts said Thursday. On Wednesday, the wallets were spotted swapping obscure tokens for Bitcoin and Ethereum—the two largest cryptocurrencies by respective market cap—along with stablecoin Tether. More than $1.7 million worth of crypto…
The Reserve Bank of India (RBI) has appealed to the country’s presidency of the G20 group of the world’s largest economies as a pulpit to call for the development of a global regulatory framework for crypto assets. In its latest financial stability report, released Dec. 29, the bank again expressed its concerns about the burgeoning crypto ecosystem and suggested parts…
It’s a weird world when a developer is arrested for writing code, while an alleged fraudster who allegedly commingled $8 billion in user funds enjoys the holidays with his family. But that’s where the crypto industry stands at the close of 2022. The second half of 2022 was a rocky time in this industry, to say the least, with most…
The FTX-owned Japanese crypto exchange Liquid has announced plans to begin the process of returning customer assets in 2023. According to the Dec. 29 statement issued on its blog, the exchange is preparing to return assets entrusted by both customers from FTX Japan and Liquid Japan, and is working on a report for January 2023 that would further outline the…
Bitcoin’s hashrate has jumped from the low 170 exahash per second (EH/s) recorded this week, to above the 300 exahash range after a number of bitcoin mining operations from Texas temporarily went offline on Dec. 25, 2022. Furthermore, three-day hashrate distribution statistics recorded on Dec. 29, 2022 indicate that two mining pools command more than 50% of the global hashrate.…
