Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellison admitted to fraud during her time as CEO at Alameda under Bankman-Fried’s direction. However, she blamed the misuse of FTX user funds directly on SBF, claiming…
The former FTX engineering director reportedly testified that SBF would “unilaterally spend Alameda’s money” and was “ultimately” in charge of the firm rather t… Source: https://cointelegraph.com/public/index.php/news/nishad-singh-testifies-excessive-alameda-investments
A United States judge has approved an order requiring Genesis Global entities to produce certain documents in accordance with a subpoena requested by Terraform Labs. In an Oct. 13 filing in U.S. District Court the Southern District of New York, Judge Jed Rakoff said Genesis would have 5 days — likely until Oct. 18 — to produce documents following a…
Stock markets flashed green at the weekly open, and crypto prices followed. Source: https://cointelegraph.com/news/price-analysis-10-16-spx-dxy-btc-eth-bnb-xrp-sol-ada-doge-ton
United States Securities and Exchange Commission chair Gary Gensler has reportedly stated that, without some form of intervention, a financial crisis stemming from the widespread use of artificial intelligence was “nearly unavoidable.” The chair’s comments came during an interview with the Financial Times where, according to the article, Gensler says this crisis could come within a decade. The chair’s concerns…
Manta, a blockchain network focusing on zero-knowledge (ZK) applications, will migrate its software from OP Stack to Polygon CDK, according to an October 16 announcement. This means that Manta will not be integrated into the upcoming Optimism Superchain and will instead become part of the Polygon ecosystem. Manta Pacific block explorer. Source: Manta. Manta network is an Ethereum layer-2 focusing…
Tether, the world’s largest stablecoin issuer, has announced a freeze on 32 blockchain addresses with connections to terrorist groups in both Israel and Ukraine. In a Monday statement, the company said it has been combatting crypto-funded crime in collaboration with Israel’s National Bureau for Counter Terror Financing (NBCTF). In total, the frozen addresses hold $873,118.34 worth of assets. “Tether’s ability…
The United States Securities and Exchange Commission released its 2024 examination priorities report on Oct. 16. The agency’s Division of Examinations has been publishing similar reports for over a decade to let its registrants know the emerging risks it will be focusing on. Crypto dealer-brokers, among others, have been given notice. The SEC’s examinations division expanded its capacity and set…
Bitcoin’s mining difficulty level has hit a new high after another surge on Monday, rising by 6.47% and making it even more challenging for Bitcoin miners to uncover blocks. According to data from CoinWarz, after the latest update, Bitcoin’s mining difficulty—the estimated number of hashes required to mine a block—is now at 61.03 trillion. This is the third consecutive increase…
Web3 incubator and VC firm OnePiece Labs and layer-1 blockchain Sei will showcase startups from their incubator program in a virtual Demo Day this November. The event, to be held on November 6 at 5:30pm PT, will present 11 firms selected for the 10-week incubator program, which aims to fast-track promising projects in the GameFi, SocialFi and AI+Web3 realms. Selected…
