A new report has claimed that Do Kwon, the fugitive CEO of Terraform Labs, is currently staying in Serbia. The report added that the South Korean government has engaged the Serbian government regarding the matter. Meanwhile, Kwon has accused Sam Bankman-Fried and Alameda Research of orchestrating events that led to the “depeg” of Terra’s once-stable coin UST. Do Kwon Getting…
John Ray, who took over as CEO of crypto exchange FTX amid bankruptcy proceedings, has written detailed testimony in preparation for his appearance before the United States House Financial Services Committee. In testimony made available for the ‘Investigating the Collapse of FTX, Part I’ hearing on Dec. 13, Ray reiterated many of the claims made in bankruptcy court, saying the…
Police and government agencies around the world are filing more information requests with crypto exchanges, if Coinbase’s latest transparency report is any indication. Coinbase received 66% more requests from law enforcement agencies worldwide this year compared to 2021, according to the report, which spanned October 1, 2021 through September 30, 2022. Coinbase said it continued to pursue “bad actors who…
press release PRESS RELEASE. Bucharest, Romania,12/12/22, Chainwire: After experiencing success in the crypto space, DeFi Yield Protocol announces a complete rebranding to Dypius. The experienced team conducted several months’ worth of research to come up with the best way to represent what they had evolved into over the years. Dypius has the suffix of the nebulae in the galaxy. Nebulas…
Following the collapse of FTX and its bankruptcy filing on Nov. 11, $73 million worth of its political donations are currently at risk of being recalled to repay the failed exchange’s creditors, according to a report by Bloomberg. Speculators online allege that the former FTX CEO and his executives sought to influence industry regulations with their generous multi-million dollar donations…
The new CEO of failed crypto exchange FTX, John J. Ray III, has said that the company’s collapse was caused by “a very small group of grossly inexperienced and unsophisticated individuals.” In remarks prepared ahead of a House Financial Services Committee hearing tomorrow, the man in charge of restructuring the fallen company’s finances also claimed that despite his experience he…
Crypto mining firm Argo Blockchain has reported it had been negotiating to sell assets and “engage in an equipment financing transaction” in an effort to avoid filing for bankruptcy. In a Dec. 12 announcement, Argo Blockchain said it was at risk of having insufficient funds to continue operating within a month, and was in the middle of “advanced negotiations” to…
After more attention has been cast on the former Alameda Research CEO Caroline Ellison, a report details that Ellison has hired Wilmerhale partner Stephanie Avakian, an attorney that worked for the U.S. Securities and Exchange Commission (SEC). The news follows leaked documentation of Ellison’s alleged margin position, and the ex-Alameda executive reportedly being spotted at a cafe in Soho. Ex-Alameda…
Welcome to Law Decoded, your weekly digest of all the major developments in the field of regulation. So, Sam Bankman-Fried, public enemy number one, won’t appear in front of Senators on Dec. 14, as he missed the deadline for responding to a Senate Banking Committee request. However, we could witness the entrepreneur appear before Congress even a day earlier, on…
As the crypto industry rallies around the transparency of Proof of Reserves (PoR) audits, Kraken is encouraged to see a greater focus be placed on proof, rather than promises. However, as others rush to catch up, we have observed attempts by other platforms and exchanges to pass off diluted and misleading methodologies as a Proof of Reserves audit. Aside from…
