Day: December 8, 2022

Class action against Kim K, Mayweather over EMAX dismissed… for now

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A federal judge in California has dismissed a class action lawsuit against reality TV star Kim Kardashian, boxing champ Floyd Mayweather and the founders of EthereumMax, explaining that the submissions failed to meet the “heightened pleading standards” for fraud claims. The judge has, however, left room for the plaintiffs to refile the proposed class action lawsuit if certain provisions are amended. In the original Jan. 7 court filing submitted by Scott+Scott Attorneys At Law, the plaintiffs argued that Kardashian, Mayweather, and also former NBA superstar Paul Pierce didn’t disclose they…

FTX hires forensics team to find customers’ missing billions: Report

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The new management for bankrupt crypto exchange FTX has reportedly hired a team of financial forensic investigators to track down the billions of dollars worth of missing customer crypto. Financial advisory company AlixPartners was chosen for the task and is led by former Securities and Exchange Commission (SEC) chief accountant, Matt Jacques, according to a Dec. 7 report from the Wall Street Journal. It is understood that the forensics firm will be tasked with conducting “asset-tracing” to identify and recover the missing digital assets and will complement the restructing work…

JPMorgan Chase CEO Jamie Dimon Likens Crypto to Pet Rocks — Calls for More Regulation – Featured Bitcoin News

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JPMorgan Chase CEO Jamie Dimon says crypto tokens are like pet rocks. The executive also believes crypto regulation should be strengthened, stating: “The regulators who beat up on banks should maybe focus a little more on crypto.” JPMorgan Chase’s Jamie Dimon Compares Crypto to Pet Rocks The chairman and CEO of global investment bank JPMorgan Chase, Jamie Dimon, talked about crypto and its regulation following the collapse of crypto exchange FTX in an interview with CNBC Tuesday. He was asked whether the FTX meltdown is contained and does not matter…

Just 8% of Americans have a positive view of crypto: CNBC survey

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A new CNBC survey suggests that only 8% of Americans have a favorable view of cryptocurrency as of the end of November, down significantly from the 19% recorded in March. CNBC’s All-America Economic Survey was conducted between Nov. 26 and Nov. 30. It, however, should be taken with a grain of salt as, despite its name, it had a relatively small sample size of 800 respondents across the U.S. in total, with a margin error of +/- 3.5%. The survey was published on Dec. 7, and alongside the declining number…

Bitcoin․com Completes VERSE $50M Token Sale, Launches Token on Verse DEX – Press release Bitcoin News

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press release Bitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, announced completion of the pre-sale of its rewards and utility token VERSE, where 16% of the total supply was purchased for $50 million. Bitcoin.com also announced the launch of VERSE trading on its decentralized exchange, the Verse DEX, starting at 00:30 UTC on Dec 8. The initial listing price will be $0.0015 per VERSE. “The success of the Verse token sale despite severe bear market conditions is a…

SBF subpoena is ‘definitely on the table,’ says Rep. Maxine Waters

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The United States House Financial Services Committee Chair Maxine Waters said a subpoena is “definitely on the table” for former FTX CEO Sam Bankman-Fried, who has been requested to testify at a Dec. 13 hearing looking into the collapse of FTX. In a Dec. 8 tweet Waters said that “lies are circulating” after a report from CNBC suggested she doesn’t plan to subpoena Bankman-Fried to testify on Dec. 13.  Lies are circulating @CNBC that I am not willing to subpoena @SBF_FTX. He has been requested to testify at the December 13th…

Senate Committee to Subpoena FTX’s Sam Bankman-Fried If He Does Not Testify Voluntarily

CryptoX – Cryptocurrency Analysis and News Portal Normally witnesses appear voluntarily, the lawmakers said in the letter. If Bankman-Fried does not confirm his participation by Thursday, “I am prepared, along with Ranking Member Pat Toomey, to issue a subpoena to compel your testimony,” the letter signed by Brown said. Original Source The post Senate Committee to Subpoena FTX’s Sam Bankman-Fried If He Does Not Testify Voluntarily appeared first on CryptoX. CryptoX Portal

Mad Money’s Jim Cramer Advises Investors to Get out of Crypto — Says ‘It’s Never Too Late to Sell’ – Markets and Prices Bitcoin News

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The host of Mad Money, Jim Cramer, has advised investors to sell their crypto, emphasizing that “it’s never too late to sell an awful position.” Regarding FTX, Cramer predicted that the collapsed trading platform “won’t be the last of these crypto exchanges to go down.” Jim Cramer’s Latest Crypto Advice The host of CNBC’s Mad Money show, Jim Cramer, has advised investors to sell their cryptocurrencies following the collapse of crypto exchange FTX. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. He…

Bitcoin Holders Show Rapid New Accumulation For First Time This Bear, Bottom Signal?

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On-chain data shows Bitcoin holders have done some rapid fresh accumulation recently, something that may lead to bottom formation for the cycle. Bitcoin 1w-1m Realized Cap UTXO Age Bands Have Sharply Gone Up As pointed out by an analyst in a CryptoQuant post, the percentage of the BTC realized cap that was last moved between 1 week to 1 month ago has displayed rapid uptrend for the first time in this bear. The “realized cap” is a Bitcoin capitalization model that values each coin in the circulating supply using the…