Day: December 13, 2022

‘You can commit fraud in shorts and T-shirts in the sun,’ says SDNY attorney on SBF indictment

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Damian Williams, United States Attorney for the Southern District of New York, said the investigation leading to charges against former FTX CEO Sam Bankman-Fried had been “very, very fast” but prosecutors were “not done” with arrests. In a press conference livestreamed on Dec. 13, Williams said the timing of the arrest of Bankman-Fried had been based on progress from law enforcement officials. They authorized charges on Dec. 7 and indicted the former FTX CEO on Dec. 9, leading to a warrant being executed in the Bahamas on Dec. 12. An…

Apex Is Looking to Shake Up Industry with True Zero-Gas Blockchain

To safeguard the security provisions it has engineered, all projects launching on Apex must pass a security and Know-Your-Customer (KYC) audit from Soken, the blockchain network’s contracted, security expert. The Web 3.0 ecosystem is filled with many blockchain protocols, but not all offer the same level of security and ease of you as many would have preferred. This is why OmniaVerse has launched Apex, heralding a new era of a blockchain solution that offers a truly zero gas protocol. The Apex Blockchain was built from the ground up and is…

Bahamian Government Officials Allegedly Asked SBF to Mint Millions of Dollars in New Tokens Amid the FTX Collapse – Bitcoin News

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On Monday, court documents from lawyers involved with the FTX Trading LTD Chapter 11 bankruptcy case allege that the government of The Bahamas asked the disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint new crypto tokens. The lawyers detailed that it was a “request for live, dynamic access that would be provided immediately to the government of the Bahamas and to Messrs.” Government of Bahamas Accused of Getting Special Treatment From Disgraced FTX Co-Founder Sam Bankman-Fried Following Sam Bankman-Fried’s (SBF) arrest in The Bahamas, the U.S. Securities and Exchange Commission…

Is DeFi back? GMX rallies toward all-time high and LOOKS price gains 30%

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In a recent blog post, cryptocurrency legend and former BitMEX CEO Arthur Hayes mentioned he holds sizable bags of GMX and LOOKS tokens. According to Hayes, his main reasoning for investing in both tokens was their platform revenue and the potential of both assets to outperform standard treasury bills.  Let’s take a brief look at on-chain data and compare GMX and LOOKS to competitors to determine whether Arthur’s assumption will work out.  GMX usage cooling after a strong November The week prior to Nov. 16 provided decentralized Finance (DeFi) with…

Sustainable Blockchains: The Future of Eco-Friendly Business Practices – Crypto 2023

Clearly, this technology is nascent, and nobody is saying that blockchain on its own is a panacea for dealing with climate change. Nonetheless, more industries must consider what this technology can offer. Perhaps the most important initial component is accountability for companies claiming to be engaging in sustainable practices. That said, there is so much more that is possible. The world should begin paying attention and get past the notion that blockchain is part of the problem because, in truth, it could form part of the solution. Source

What the New ‘War of the Currents’ Means for Decentralization

In the current “builder’s market,” blockchain developers and founders need to pay closer attention to the developments unfolding across telecommunications, broadband and IoT, rather than speculative digital asset bubbles that, unfortunately, defined the space over the past few years. Whether it’s setting up routers to power decentralized wireless networks (following in the tradition of Satoshi Nakamoto sending himself test amounts of bitcoin), or writing interoperable code, the crypto community should apply the principles of decentralization to this next frontier, and work together to ensure the ubiquitous network as envisioned by…

SBF’s lawyers request bail in Bahamas Magistrate Court pending extradition

According to local sources, on Dec. 13, crypto executive Sam Bankman-Fried’s (SBF) lawyers have requested bail in a Bahamas’ Magistrate Court after his arrest on Dec. 12 pending extradition request by U.S. authorities. The move comes after presiding judge Chief Magistrate JoyAnn Ferguson-Pratt stated earlier today that SBF had the right to request bail. In supporting the application, the defense counsel for SBF argued that the 30-year-old crypto executive suffered from “depression” and “insomnia,” does not possess a criminal record, and did not flee the Bahamas despite “ample opportunity” to…