Day: December 22, 2022

3 FTX Execs Have Snitched on SBF, Now Scrutiny Is Aimed at Nishad Singh and Ramnik Arora โ€“ Bitcoin News

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On Dec. 21, U.S. law enforcement officials from the Southern District of New York (SDNY), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) revealed they imposed fraud charges against FTX co-founder Gary Wang and ex-Alameda Research CEO Caroline Ellison. After Wangโ€™s and Ellisonโ€™s surrender announcement, the public has been wondering where FTXโ€™s director of engineering, Nishad Singh, is located and whether or not he has come forward yet. Following Ellisonโ€™s and Wangโ€™s Guilty Plea, All Eyes Are Focused on 2 More Top FTX Execs Reports…

SBF received special treatment inside Bahamian jail: Report

Former FTX CEO Sam Bankman-Fried, who was remanded to the notorious Fox Hill Prison in Nassau, Bahamas, pending an investigation into the collapse of his exchange, had a different experience than many other prisoners.ย  According to the Financial Times, Bankman-Fried was held in the sickbay where he had access to a toilet, running water, a TV, local newspapers, crossword puzzles, and many other perks, including vegan food. Anonymous prison officials disclosed that the former CEO spent his days watching the news and reading articles about himself. SBFโ€™s prison experience appears…

Exchange Inflows, Outflows At A Stalemate As Bitcoin Refuses To Budge

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Bitcoin is still struggling below $17,000 and centralized exchange inflows and inflows seem to be mirroring the trend of the digital asset. Over the last 24 hours, the net flows from exchanges have been seeing a near balance between inflows and outflows. Balancing Each Other Out The exchange net flows reported by Glassnode show barely any difference between the amounts flowing into and out of exchanges. For bitcoin, it recorded $538.6 million worth of BTC flowing into exchanges and $557.4 million flowing out for the same time period. This brought…

DOGE Rebounds on Thursday, LTC Nears 1-Week High โ€“ Market Updates Bitcoin News

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Dogecoin rebounded from Wednesdayโ€™s decline, as the meme coin moved away from a key support level. Prices have been hovering close to a two-month low in recent days, with todayโ€™s surge bringing optimism to remaining bulls. Litecoin was also higher, as the token remained close to a one-week high. Dogecoin (DOGE) Dogecoin (DOGE) was in the green on Thursday, as the meme coin rebounded from recent lows. Following a low of $0.07283 on Wednesday, DOGE/USD raced to an intraday peak of $0.07736 earlier in todayโ€™s session. The move comes as…

North Korean hacking activity ceases after regulators implement KYC

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According to a new press report published by South Korea’s National Intelligence Service (NIS), North Korean hackers have stolen more than 800 billion Korean won ($620 million) worth of cryptocurrencies from decentralized finance, or DeFi, platforms this year. The agency also revealed it blocked a daily average of 1.18 million attacks perpetrated by national and international hacking organizations in November.ย  However, a NIS spokesperson revealed via local news outlet Kyunghyang Shinmun that all of the $620 million stolen by North Korean hackers through DeFi exploits occurred overseas, adding:ย  “In Korea,…

Third parties could return FTX funds directly to customers: Law firm

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More than one million creditors of failed crypto exchange FTX have been waiting to be made whole since before the firmโ€™s bankruptcy filing on Nov. 11, but according to one expert, recipients of donations and contributions may have a legal means of returning the funds directly to investors and customers.ย  Louise Abbott, a partner at United Kingdom-based firm Keystone Law, told Cointelegraph it was โ€œextremely unlikelyโ€ FTX would have a legal leg to stand on in its demands for the voluntary return of political campaign donations, grants, and other contributions…

Terra Luna Classic Up 6% On Rumor That Coinbase Buys LUNC

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The collapse of Terra Luna and algorithmic stablecoin TerraUSD in May was one of the biggest setbacks for the broader crypto market this year. The previously thriving Terra ecosystem was completely wiped out in a matter of days, except for the Terra Luna token, which was resurrected as Terra Luna Classic (LUNC) by the community. Despite losing more than 99% of its value, the cryptocurrency still has one of the most active crypto communities on social media. And from it springs a rumor today that has pumped the price of…