President Biden announces former Ripple adviser as pick for Fed vice chair for supervision
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Sam Bankman-Fried jailed as judge revokes bail

Sam Bankman-Fried was reportedly led out of a New York courtroom in handcuffs after alleged attempts to influence or intimidate witnesses in his criminal case. Source: https://tr.cointelegraph.com/news/judge-orders-sam-bankman-fried-bail-revoked-following-allegations-witness-intimidation

CFTC charges residents of Florida, Louisiana, Arkansas for crypto fraud
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CFTC charges residents of Florida, Louisiana, Arkansas for crypto fraud

Legal proceedings have been initiated by the Commodity Futures Trading Commission (CFTC) against individuals and their organization, Fundsz, citing their involvement in a deceptive scheme concerning cryptocurrencies and precious metals trading. Rene Larralde from Melbourne, Florida, Juan Pablo Valcarce from West Melbourne, Florida, Brian Early from New Orleans, Louisiana and Alisha Ann Kingrey from Franklin, Arkansas, along with their unincorporated…

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Bitcoin has bottomed despite 'astonishing' BTC price action — Analyst
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Bitcoin has bottomed despite ‘astonishing’ BTC price action — Analyst

Bitcoin (BTC) further ground down volatility into Aug. 12 as “astonishing” BTC price action stayed in place. BTC/USD 1-hour chart. Source: TradingView Bitcoin: “Classic weekend chop” expected Data from Cointelegraph Markets Pro and TradingView followed a flat Bitcoin trading environment as the weekend began. After displaying only muted reactions to the week’s United States macroeconomic data prints, BTC/USD held firm…

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A Loan Is Still a Loan Even in DeFi
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A Loan Is Still a Loan Even in DeFi

Decrypting DeFi is Decrypt’s DeFi email newsletter. (art: Grant Kempster) Despite the fancy financial rails, a loan in DeFi is still a loan. This has been seen time and again, with last week’s debacle from the Curve Finance founder offering up yet more coursework on the subject. Goldfinch, a crypto startup aimed at issuing loans to companies in emerging economies, has now taken center…

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Curve Finance vows to reimburse users after $62 million hack
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Curve Finance vows to reimburse users after $62 million hack

Curve Finance, a decentralized finance (DeFi) platform for lending stablecoins, has officially stated its intention to reimburse users who were impacted by the recent breach resulting in a $62 million loss from the system.  According to a post by Curve Finance, ongoing investigations are yielding progress, with approximately 79% of the funds successfully recuperated. The platform further emphasizes its current…

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DeFi tries to recover from Curve hack, but exploits continue: Finance Redefined
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DeFi tries to recover from Curve hack, but exploits continue: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The DeFi ecosystem is yet to recover from the crisis brought on by the Curve Finance hack, and even though the issue seems contained, another set of exploits hit the DeFi ecosystem…

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Victim of 90 ETH exploit set to claw funds back after hacker was blacklisted
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Victim of 90 ETH exploit set to claw funds back after hacker was blacklisted

With the help of police and cyber authorities, a victim of a hack worth 90 Ether (ETH) has gotten the attacker’s Tether (USDT) address blacklisted. As a result, they may be able to get most of their funds back. [2023/08/11 17:30] USDT blacklisted 0x788bc56b67c289399cd6e2022f0d76484f04724a in block 17893148 https://t.co/WipjkHXFGp — usdt blacklist (@usdtblacklist) August 11, 2023 The victim, who goes by…

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Senator Lummis files Amicus Brief supporting Coinbase's dismissal motion against SEC
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Senator Lummis files Amicus Brief supporting Coinbase’s dismissal motion against SEC

Crypto-friendly Senator Cynthia Lummis has filed an Amicus Brief supporting Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission’s lawsuit against the firm. An Amicus Brief is a document filed in court by a party that is not directly involved with the related case. They are generally used to add supporting arguments to one side of the lawsuit, and…

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FTX Sues to Reclaim $700M Bankman-Fried Allegedly Spent on Celebrity Connections
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‘Hope You Enjoy Prison’: Crypto Twitter Reacts as Sam Bankman-Fried’s Bail Is Revoked

Crypto Twitter did not hold back Friday amid news that disgraced FTX founder and former CEO Sam Bankman-Fried’s bail had been revoked. He was remanded to jail by a federal judge due to witness tampering, and industry personalities impacted in some way by his alleged misdeeds let loose on the social media platform. “Take that, you witness tampering vegan-faking, money…

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Degens Allegedly Launched Lil Tay Token Amid Teen Rapper's Death Hoax
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Degens Allegedly Launched Lil Tay Token Amid Teen Rapper’s Death Hoax

Following reports that an internet-famous 14-year-old rapper known as Lil Tay died this week—which has since been proven untrue—an unofficial “LilTay” crypto token featuring the teen’s name launched on BNB Chain on Wednesday. Nobody has come forward to claim responsibility for creating LilTay, which has a supply of just over 100 tokens and has yet to be traded. It may…

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