Day: December 23, 2022

Former Alameda CEO confirms firm borrowed billions from FTX customer deposits as part of plea deal

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Caroline Ellison, the former chief executive officer of Alameda Research, said as part of her plea deal that she was aware FTX funds had been made available for the venture capital firm’s investments. In a transcript of proceedings for her plea deal in the Southern District of New York released on Dec. 23, Ellison acknowledged the financial ties between FTX and Alameda at the center of prosecutors’ case against former FTX CEO Sam Bankman-Fried. According to the former Alameda CEO, Alameda had access to a “borrowing facility” through FTX from…

Year of the Rug Pull

Year of the Rug Pull According to the study, in many rug pull cases, the theft occurs exclusively on-chain: “The scam is encoded in the token’s smart contract, the token is traded on a decentralized exchange, an CryptoX Portal

The Future of Music in the Metaverse: What Does it Mean for Artists?

Place/Date: – December 23rd, 2022 at 7:39 pm UTC · 3 min read Source: Ultraverse City The future of music in the metaverse is not yet clear. Artists need to find a way to make their music stand out and get noticed in this new environment. Some artists have already started working on VR games and apps, while others are experimenting with augmented reality (AR) and mixed reality (MR). They are finding ways to get their music into consumers’ hands specially through the radio stations who are trying to integrate…

Contagion engulfs Bitcoin miners as bear market continues

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Never underestimate how quickly things can deteriorate in a sector as volatile as crypto, especially in a bear market. Prices can always go lower in the depts of crypto winter and casualties can multiply overnight. 2022 has been a year of never-ending contagion; with everyone focused on Binance, high-profile Bitcoin (BTC) miners were going bust.  This week, mining company Core Scientific filed for Chapter 11 bankruptcy. Greenridge, another miner, received a $74 million debt restructuring lifeline from New York Digital Investment Group. Bitcoin is the most valuable commodity in a…

Over $30B of NFT Trading Volume on Ethereum is Wash Trading, Research Suggests

To understand how prevalent the practice has become since the NFT markets emerged, when all of the filters were applied, over $30 billion of NFT trading volume from all time could be linked to wash trading. This number is staggering, though it only represents about 1.5% of all trades that have taken place on Ethereum. If that seems confusing, don’t worry: What it shows is that the majority of trades are legitimate, but happen at a generally lower price than the wash trades, which makes sense, when the point of…

FTX Attempts to Freeze Robinhood Shares as Creditors Swarm to Scoop $450M in HOOD Stock – Bitcoin News

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Court filings show that debtors from FTX Trading Ltd. and Alameda Research want 56 million shares of Robinhood stock frozen after multiple creditors are seeking access to the funds, and also Sam Bankman-Fried (SBF). Court Filing Wants to ‘Enforce an Automatic Stay’ Against Claims Over FTX’s 56 Million Robinhood Shares On Dec. 22, 2022, court documents show that debtors from FTX want to freeze 56 million Robinhood shares owned by a subsidiary crafted by SBF called Emergent Fidelity Technologies. The debtors from FTX and Alameda have said that multiple entities…