Day: December 9, 2022

Class Action Lawsuit Against FTX’s Celebrity Promoters and Sam Bankman-Fried Is Quietly Dropped

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Report Shows Crypto News Publication The Block Was Secretly Funded by Bankman-Fried’s Alameda – Bitcoin News

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On Dec. 9, 2022, Axios reporter Sara Fischer reported on the CEO of the crypto media The Block after it was discovered that the chief executive was secretly funded by Alameda Research, the now-defunct trading firm co-founded by Sam Bankman-Fried. According to the report, sources say The Block executive Michael McCaffrey received $16 million in one payment and used the funds to purchase an apartment in the Bahamas. The Block CEO Received 3 Payments of $43 Million From Alameda Research, One Payment Used to Purchase an Apartment in the Bahamas…

Data shows the Bitcoin mining bear market has a ways to go

Bitcoin (BTC) mining is the backbone of the BTC ecosystem and miners’ returns also provide insight into BTC’s price movements and the health of the wider crypto sector. It is well-documented that Bitcoin miners are struggling in the current bear market. Blockstream, a leading Bitcoin miner recently raised funds at a 70% discount. Current mining activity shares similarities to historic BTC bear markets with a few caveats. Let’s explore what this means for the current Bitcoin cycle. Analysis shows that based on previous cycles the bear market may continue Bitcoin…

Bieber, Madonna Among Dozens of Celebs Named in Lawsuit Alleging Yuga Labs NFT ‘Scheme’

In total, the lawsuit names 37 defendants, including the founders and leadership team at Yuga Labs; MoonPay and its CEO, Ivan Soto-Wright; Reddit co-founder and investor Alexis Ohanian; NFT artist Beeple; Ape DAO board members Amy Wu, Maaria Bajwa and Dean Steinbeck; Guy Oseary; Justin Beiber; Jimmy Fallon; Gwyneth Paltrow; Madonna; Paris Hilton; Serena Williams; Post Malone; Diplo; Snoop Dogg; Kevin Hart; Steph Curry; Future; The Weeknd; DJ Khaled; Adidas and several others. Source

Luna Classic (LUNC) Price Under Bearish Pull Despite New Developments

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The LUNA Classic (LUNC) price has noted a fresh decline in the last 24 hours. In that time frame, the altcoin depreciated by 1%. In the past week, LUNC logged gains worth 2.5%. Much of the weekly gains have been lost due to losses on the daily chart. At the moment, LUNC depicts consolidation beneath its immediate resistance mark. With the FTX collapse, LUNC has been teetering under a bearish influence for quite some time. Over the last month, the coin has lost more than 10% of its market value.…

Who’s expected to testify before Congressional hearings on FTX?

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United States lawmakers have been pushing for certain witnesses — including Sam Bankman-Fried — to appear before committee hearings scheduled in December. Who should the crypto space expect to see testifying on the events leading to the downfall of FTX? On Dec. 9, Bankman-Fried, or SBF, said — under threat of a potential subpoena — that he was willing to speak at a U.S. House hearing aimed at exploring FTX’s collapse. Leadership with both the House Financial Services Committee and Senate Banking Committee had suggested that they might subpoena the…

Ethereum and Litecoin make a move while Bitcoin price searches for firmer footing

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Crypto price action has been rough over the past few months, but a few green shoots are finally beginning to emerge. While Bitcoin (BTC) remains in a downtrend, its price has recently found support at the $17,000 level, and ping-pong price action in the $16,700–$17,300 range appears to be allowing traders to pursue some interesting setups in a few altcoins. Let’s take a quick peek at some enticing patterns showing up on the weekly time frame. Time for Litecoin’s halving hopium? LTC/USDT 1-day chart. Source: TradingView As a fork of…

Shares of Bitcoin Miner Argo Blockchain Suspended in UK and US

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…