Former Alameda Research CEO Caroline Ellison claimed in court that Sam “SBF” Bankman-Fried attempted to raise equity for FTX by considering an investment from Saudi Crown Prince Mohammed bin Salman, or MBS. Addressing the court at SBF’s criminal trial Oct. 11, Ellison reportedly said she had discussed ways of hedging Alameda investments with Bankman-Fried in 2022. According to the former…
Bitcoin (BTC) hit new October lows after the Oct. 11 Wall Street open as one analyst hailed the “final stage” of the cryptocurrency bear market. BTC/USD 12-hour chart. Source: TradingView Bitcoin traders stress importance of $26,800 Data from Cointelegraph Markets Pro and TradingView showed further BTC price weakness emerging, costing bulls $27,000 support. At the time of writing, the largest…
Just 47% of retail crypto investors in Hong Kong are aware of the Virtual Asset Trading Platform Regulatory Regime, a legislation which went into effect this June to protect the interest of retail investors in digital assets in the region. That’s according to an October 11 report by the The Investor and Financial Education Council (IFEC) of Hong Kong. In…
In early September 2023, the US Financial Accounting Standards Board (FASB) finally approved the commonly accepted accounting practice of mark to market accounting to apply to corporations and businesses holding crypto digital assets. Previously, companies like Microstrategy and Tesla needed to file crypto digital assets as intangible assets like goodwill and Intellectual Property (IP). If the value of these intangibles went…
Testifying on the sixth day of Sam “SBF” Bankman-Fried’s criminal trial in New York, former Alameda Research CEO Caroline Ellison admitted to providing fudged numbers for review by Genesis. According to reports from the courtroom on Oct. 11, Ellison claimed Bankman-Fried directed her to create “alternative” balance sheets on Alameda’s use of crypto exchange FTX’s funds. She reportedly testified that…
The stock market in Asia and Europe had a contrasting day where a majority of the stock markets across the Asia-Pacific region climbed across the board while European markets had a mixed day. While South Korea’s bullish rally drove Asian markets, European shares faced downward pressure from underperforming luxury stocks. South Korea leads Asian stock rally South Korea took the lead…
On October 8, the average Ethereum gas fee dropped to 8.8 Gwei, levels not seen since October 2, 2022, when the average gas on the network fee was 8.4 Gwei, per Etherscan data. Ethereum’s gas prices are typically measured in Gigawei (called Gwei), which is equivalent to 10^9 Wei. Wei represents the smallest denomination of ETH, with 1 ETH equal…
In a world increasingly anxious about privacy and exploitation of one’s personal data by governments, corporations, social media platforms and banks, zero-knowledge proofs may offer some relief. Indeed, this emerging cryptographic protocol could partially remedy two rapidly growing global deficits: privacy and truth. ZK-proofs have already found a home within the cryptocurrency and blockchain sector — enabling scaling protocols to…
A Lido DAO proposal to secure a 5 million ARB grant worth just over $4 million has been met with hefty opposition from the Arbitrum community. The primary concerns? The grant’s size and ongoing concerns of Lido’s purported centralization. In September, the Arbitrum Foundation introduced its Short-Term Incentive Program (STIP) to distribute 50,000,000 ARB worth $41.2 million and entice projects…
As the digital landscape evolves, decentralized governance has become an important notion to foster a fair and inclusive ecosystem. In the trend toward transparency and collaborative decision-making, analyzing companies’ roles and responsibilities in this new paradigm is critical as we navigate the exciting realm of decentralized governance in search of the ideal balance of transparency and control. The balance problem…
