Bankman-Fried appeared starstruck by a February 2022 party at Kives’ house where fellow guests included a former Presidential candidate, actors, reality TV stars, musicians and multiple billionaires. Within weeks, Bankman-Fried had signed a document promising to invest billions in Kives’ and Baum’s companies, with little details on what FTX would gain in return, the filing said. Source
The regulator asserted its claims should be counted as part of “general unsecured claims” in the ongoing Chapter 11 bankruptcy proceedings, but agreed to forego the payment “in order to maximize the amount that may be distributed to investors and avoid delay in such distribution,” according to the agreement reached on June 22. Source
Coinbase will work to become a “super-app” over the next 5 to 7 years. Coinbase CEO Brian Armstrong has not let the recent regulatory pressure from the US Securities and Exchange Commission (SEC), get to him. This follows after the SEC recently slammed the exchange with a damning lawsuit that has thrown crypto markets into uncertainty. In the face of all the uncertainty, however, Armstrong has continued to see great potential for the digital ecosystem. “We Want to Be That Super-App”, Says Brian Armstrong While speaking at Coinbase’s State of…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance has enlisted the expertise of a former attorney from the Department of Justice (DOJ) to mount a defense against the lawsuit filed by the Securities and Exchange Commission (SEC). According to Bloomberg, M. Kendall Day has been appointed as Binance’s legal counsel in their ongoing lawsuit with the SEC. His credentials on the Gibson Dunn website indicate that before joining the firm as a partner in its Washington, D.C. branch, Day served as an acting deputy assistant…
“Vulnerable” miners, including Core Scientific (CORZQ), Argo Blockchain (ARB) and Iris Energy (IREN) have struggled to survive due to a “combination of falling bitcoin prices, rising debt servicing costs and rising electricity costs,” the analysts wrote. Miners with higher electricity costs have been facing losses due to falling bitcoin prices over the past year. Source
The Commodity Futures Trading Commission (CFTC) has filed an enforcement action against a New York city resident, William Koo Ichioka, for fraudulently misappropriating over $21 million from over 100 commodity pool participants’ funds. Source
The generative AI program is a strategy for AWS to bring artificial intelligence to its global customers and partners. Amazon Web Services (AWS) is launching a $100 million program to fund generative AI initiatives as it intentionally works to remain relevant in the highly-competitive artificial intelligence race. On Thursday, the Amazon cloud unit said it is investing the funds to help companies use generative AI. The announcement has placed Amazon on the same side of the new technology as its rivals Google (NASDAQ: GOOGL) and Microsoft (NASDAQ: MSFT). AWS Invests…
Justin Sun has transferred nearly $30 million worth of ETH tokens to Huobi, sparking rumors of a large upcoming sale. Tron founder Justin Sun has withdrawn $29.7 million worth of Ether (ETH) from Lido Finance and transferred the funds to Huobi. According to data provided by blockchain intelligence firm Arkham Intelligence, Sun requested to unstake his ETH tokens from Lido on Wednesday and moved them to Huobi on Thursday. Following the unstake request, Sun got 15,805 ETH from his Lido address and deposited 15,815 ETH to Huobi, sparking rumors of a sale. So…
Ether (ETH), the second-largest cryptocurrency by market value, has gained 15.9% since last Thursday, underperforming bitcoin by a notable margin. Ether’s GFI index is yet to reach 90%, meaning it could continue to rise, while bitcoin takes a breather. Source
Bitcoin (BTC) will hit new all-time highs in 2023, and October is the favorite month for it, a popular trader says. In a Twitter update on June 22, Credible Crypto argued that the next four months should deliver the bullish BTC price momentum needed to tackle $69,000. October “fairly logical” for new Bitcoin all-time highs Bitcoin has put in solid performance this month, and Credible Crypto is increasingly optimistic for continuation. To do so, BTC/USD needs to present increasingly larger green monthly candles to keep it in line with previous…