Alameda alleges that Bankman-Fried and other insiders paid Embed misappropriated FTX funds in late September 2022, only weeks before the crypto exchange filed for bankruptcy. Source
FTX Units Sue Embed Shareholders, Seek to Retrieve $6.9M
Day: May 18, 2023
Microsoft CEO Satya Nadella Discusses AI Concerns, Stresses People Remain Integral to Development
In an interview, Nadella said AI is “scary” but “moving fast in the right direction”. He maintains all parties must unite to make it work. Microsoft (NASDAQ: MSFT) chief executive officer Satya Nadella recently discussed AI and its impact on jobs and education. In a media session aired Tuesday, the Microsoft CEO revealed his primary concern around the technology. Nadella said AI is so scary that maximizing its inherent opportunities while mitigating potential danger will directly require effort from “the entire society”. He also added that despite the technology’s rapid development,…
Crypto.com Adds New Tokens to Its Wallet Service and Launches AI Assistant
By using the ChatGPT-based AI assistant, people can get answers to their questions about Crypto.com’s suite of products and services. Crypto.com, a leading cryptocurrency exchange, has recently announced some exciting updates to its platform. Crypto.com has added support for three new tokens to its fiat-to-crypto on-ramp service, which is part of its DeFi Wallet. Moreover, the exchange has also launched a virtual assistant based on the GPT API to help customers with their queries. New Tokens Supported by Crypto.com Pay According to the update, users will now be able to…
Grayscale and Bitwise distance themselves from Ether futures ETF plans
Two prominent crypto asset managers — Grayscale Investments and Bitwise Asset Management — have halted their Ether (ETH) futures exchange-traded fund (ETF) plans amid growing scrutiny from United States regulators. On May 17, Grayscale filed an amendment to its Securities and Exchange Commission (SEC) filing to remove mentions of an Ether futures ETF. The amendment comes less than a week after sharing plans to launch a trio of ETF products. The other two flagship products include a semi-spot Bitcoin (BTC) ETF that would invest in the spot BTC market, and a…
Australian ‘Big 4’ bank begins trial for cryptocurrency payment blocks
Westpac, one of Australia’s ’Big Four’ banks, is launching its first trial of scam protection measures designed to combat fraudulent activities related to cryptocurrencies. The protection measures aim to mitigate losses from scams and reduce potential risks. According to the announcement, investment scams account for approximately 50% of all customer losses linked to scams, while around one-third of all scams involve direct transfers to cryptocurrency exchanges, making them extremely difficult to trace. The Westpac ban comes on the same day Binance customers were told they could no longer use PayID to…
Bitcoin Shows Dull Movement, Altcoins Take Charge, Litecoin, XRP Gain Momentum
Amid the subdued activity in Bitcoin and Ether and no catalyst in sight, investors are finding opportunities in altcoins and other small cap crypto assets. After facing selling pressure earlier this week, the world’s largest cryptocurrency Bitcoin (BTC) has been now hovering around $27,200 levels. Investors are keen to know what could be the next directional move for BTC. However, the BTC price remains range bound between the support of $26,600 and the resistance of $27,600 on the upside. While the trading activity in Bitcoin remains subdued, altcoins make a…
Montenegro prosecutors appeal against Do Kwon’s bail terms
Terra co-founder Do Kwon’s bail is now in question after the State Prosecutor’s Office filed an appeal against it. Kwon is still wanted for extradition by South Korea and has criminal charges to answer in the United States. On May 17, the State Prosecutor’s Office in Montenegro’s capital Podgorica appealed against the previous decision of the court to grant Kwon and Han Chang-Joon a release from detention on bail of 400,000 euros ($436,000) each. The bail deal was agreed on May 12, with the court agreeing to let Do Kwon be put…
Lido Community Members Propose LDO Token Staking and Buyback Plan
Hal Press, the founder of hedge fund North Rock Digital, wrote on Twitter that he has “been critical of LDO in the past partly because the token accrued no value,” but said if the proposal was adopted, it “would go a long way toward fixing that issue.” Source
Crypto Observers Decode Large Block Trade in Ether Options
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U.S. Court Asked to Reverse Decision on Appointment Independent Examiner in FTX Bankruptcy
Although parties to the FTX case have complained about the “alleged” costs associated with appointing an examiner, for “both legal and practical purposes, any costs associated with appointing an examiner do not justify departure from the statutory requirement to appoint an examiner where, as here, the statutory criteria are met,” DOJ Trustee Andrew R. Vara said in the filing. Source