Day: December 13, 2022

Bahamas reportedly asked SBF to mint new coin after FTX collapse

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The Bahamas government reportedly worked with former FTX CEO Sam Bankman-Fried to issue a new cryptocurrency controlled by local officials. Following the FTX collapse in November, Bahamas government officials reportedly asked Bankman-Fried to mint new digital assets worth โ€œhundreds of millions of dollars,โ€ lawyers for FTX said in a court filing, Bloomberg reported on Dec. 12. The authorities also reportedly asked the former FTX CEO to transfer the new tokens to the control of island officials. The report also suggests that Bahamas officials tried to help Bankman-Fried regain access to…

Panther Completes the Decentralized Launch of Its Protocolโ€™s v0โ€ค5, a DAO-Led Effort โ€“ Press release Bitcoin News

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press release PRESS RELEASE. Panther, a cross-chain application that will allow retail users as well as institutions to access DeFi privately and compliantly, has launched its v0.5. This was achieved by the protocolโ€™s community in conjunction with Panther Ventures Limited, a Web3 development company destined to develop the blockchain technology and zero-knowledge components of Panther. Panther Ventures Limited collaborators developed the protocolโ€™s software and released it under a BUSL License, which grants users the right to copy, modify, create derivative works, redistribute, and make non-production use of the Licensed Work.…

Maple Finance Debt Indicates Crypto Lending Risks

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The emergence of Maple Finance brought a different approach to the entire process. This bold DeFi lending protocol requires no deposit of extra crypto tokens as collateral for borrowing. In the decentralized finance (DeFi) space, cryptocurrency lending came as a means that allows investors access to their preferred tokens. However, they must deposit other crypto coins as collateral before borrowing the given assets. This will help curtail risks and losses for the DeFi lending platform. Instead, it all lies in the hand of the lending pools to decide on granting…

SEC charges former FTX CEO SBF for defrauding investors a day after his arrest

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The United States Securities and Exchange Commission (SEC) has filed charges against Sam Bankman-Fried, the former CEO of now-bankrupt crypto exchange FTX.ย  The SEC has charged Bankman-Fried with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SECโ€™s complaint seeks injunctions against future securities law violation that prohibits Bankman-Fried from participating in the issuance, purchase, offer, or sale of any securities except for his own personal account. Related:ย SBF planned to blame everyone but himself, shows leaked Congress testimony SEC charged Bankman-Fried…

Israel-Based Playtika Confirms 15% Layoff of Workforceย 

In the email that confirmed the latest headcount reduction, the CEO wrote that it was difficult for the company to reach the decision. Israel-based digital entertainment company Playtika is the latest company to receive the hit of the global economic meltdown as it plans a 15% layoff of its entire workforce. Many companies have dismissed significant percentages of their staff to cut back expenses and push through these challenging times. The dice have rolled again, and Playtika has confirmed the layoff of 610 employees of its 4,100 people of its…

SBF planned to blame everyone but himself, shows leaked Congress testimony

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Former FTX CEO Sam Bankman-Fried, also known as SBF, was arrested on Dec 12, a day before he was set to testify before Congress remotely. A copy of his testimony,ย obtained by Forbes, highlights that the disgraced CEO planned to blame the spectral downfall of his $32 billion empire on everyone but himself. SBF continued the same rhetoric about FTX.US, the sister company of the global cryptocurrency exchange, in his testimony. He claimed that the United States-based entity was still โ€œfully solventโ€ despite it being a part of the Chapter 11…

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