Day: December 22, 2022

Crypto exchange Bullish announces termination of SPAC deal, citing SEC practices

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Bullish, a crypto firm that came to public attention in July 2021 for seemingly being unclear on what products or services it was offering, has announced the termination of a deal aimed at taking the company public. In a Dec. 22 announcement, Bullish said it had reached a mutual agreement with Far Peak Acquisition to no longer merge in a deal for a listing on the New York Stock Exchange. Bullish chair Brendan Blumer, also the CEO of Block.one, cited the United States Securities and Exchange Commission’s work to “lay…

FTX creditor committee hires Paul Hastings LLP for bankruptcy proceedings: Report

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After taking pitches from many law firms, the nine-member committee representing unsecured creditors of the disgraced crypto exchange FTX has decided on a legal adviser, the Wall Street Journal reported on Dec. 21.  Global law firm Paul Hastings LLP was hired to look after the interests of unsecured creditors in the bankruptcy case, including millions of FTX customers. According to the WSJ‘s sources, a process to select a financial adviser is also underway. The committee of FTX creditors was appointed on Dec. 16 by the United States Justice Department. Its…

SBF sent home after his parents put up their house to cover his astronomical bail bond

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Sam Bankman-Fried, the former CEO of FTX now facing criminal charges that could land him in jail for the rest of his life, may be granted bail in the United States ahead of his trail, Reuters reported Dec. 21. Prosecutor Nicholas Roos has reportedly proposed granting Bankman-Fried, often referred to as SBF, bail on the conditions of a $250 million bond, home detention, location monitoring and the surrender of his passport. The New York Times reported that SBF’s bail was approved and he will live with his parents in Palo…

Aave DAO Votes to Integrate Chainlink Proof-of-Reserves to Tighten Network Security

“The focus is more on automatically detecting and acting whenever any symptom of security issues on a bridge appears,” said Ernesto Boado, the former CTO at Aave and co-founder Bored Ghost Developing, which wrote the proposal. “We think that obviously, transparency goes first, in this case, our development goes a step further.” Source AaveChainLinkDAOintegrateNetworkProofofReservesSecuritytightenVotes CryptoX Portal

Twitter Adds Crypto Price Charts to Search Results – Featured Bitcoin News

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Twitter is now providing price charts with search results for major cryptocurrencies, such as bitcoin and ether. This new feature is “one of many product improvements coming to financial Twitter,” said Elon Musk, owner of the social media platform. Twitter Launches Price Chart Feature Twitter announced in a series of tweets Wednesday that it is now providing price charts for major stocks, exchange-traded funds (ETFs), and cryptocurrencies. “When you tweet the symbol of a major stock, ETF, or crypto currency with a $ in front of it (like $BTC), people…