It could take six weeks for prosecutors to make their case against Sam Bankman-Fried. But only three days were needed for the judge overseeing his trial to lose patience with the former crypto chief’s defense team. Source
Upland, the web3 metaverse SuperApp in collaboration with the NFL Players Association (NFLPA) through OneTeam Partners, is launching its third year featuring officially licensed NFL player collections. NFLPA and Upland partnership Upland, the blockchain-based game enabling real-world virtual property trading, has partnered with the NFLPA through OneTeam Partners, its gaming arm. This collaboration introduces new NFLPA Bundle types, including the Mixed Essentials Bundle, Team Essentials Bundle, and Pass Bundles. The 2023-2024 Upland experience will feature gamified digital collectibles of NFL players, community activities sponsored by the platform to boost user…
Snap issued with preliminary enforcement notice over potential failure to properly assess the privacy risks posed by its generative AI chatbot ‘My AI’ Investigation provisionally finds Snap failed to adequately identify and assess the risks to several million ‘My AI’ users in the UK including children aged 13-17. The Information Commissioner’s Office (ICO) has issued Snap, Inc and Snap Group Limited (Snap) with a preliminary enforcement notice over potential failure to properly assess the privacy risks posed by Snap’s generative AI chatbot ‘My AI’. The preliminary notice sets out the…
The United Kingdom has an opportunity to capitalize on the departure of Web3 firms leaving the United States due to regulatory uncertainty. But to achieve that, the U.K. will need to follow its own regulatory path, smoothing the requirements for crypto in some regard, according to a think tank. On Oct. 2, the influential conservative think tank Policy Exchange published a report on Web3 with 10 proposals for the U.K. government, which it claims would help the country improve Web3 regulation. One proposal made in the report is limiting the…
As the global financial landscape witnesses a seismic shift, reminiscent of the 2008 financial crisis and the dot-com bubble burst, alarm bells are ringing in the bond market, alerting the Bitcoin and crypto market as well. Is A Crash Like 2008 Looming? Renowned Chartered Financial Analyst (CFA), Genevieve Roch-Decter, highlighted the striking parallels in a recent tweet, stating, “I can’t believe I am saying this but the slump in 10-year and 30-year bonds is approaching the epic drops we saw in stocks during the 2008 financial crisis and the dot-com…
The European Securities and Markets Authority (ESMA), the European Union’s markets regulator, released a second consultative paper on Markets in Crypto-Assets (MiCA) mandates on Oct. 5. In the 307-page document, the ESMA seeks stakeholders’ input on five areas of MiCA, including sustainability indicators for distributed ledgers, disclosures of inside information, technical requirements for white papers, trade transparency measures and record-keeping for crypto-asset service providers (CASPs). Among the sustainability indicators, the Authority counts quantitative metrics on the consumption of energy, greenhouse gas emissions and the production of waste, together with a…
Wang’s testimony was part of a plea agreement with prosecutors stemming from his guilty plea filed in December 2022. In a riveting turn of events at the ongoing criminal trial of FTX founder Sam Bankman-Fried (SBF), Gary Wang, the company’s former chief technology officer, unveiled startling revelations about the inner workings of the exchange and its sister company Alameda Research. On October 5th, day three of the trial, Wang took the stand after a short break, disclosing critical information regarding the collaboration between FTX and Alameda, noting that they were…
Similarly, Block has embarked on a mission to democratize the Bitcoin mining industry. They recently announced plans to produce a ‘Mining Development Kit’ (MDK) for consumers. Block Inc (NYSE: SQ), a digital payments firm co-founded by Jack Dorsey, former Twitter CEO, has released its own Bitcoin (BTC) hardware storage device called BitKey. Designed in the shape of a compact hexagon, this new hardware from Block has attracted significant attention as it aims to address the growing concerns surrounding Bitcoin security and self-governance. Bitkey Unveiled As highlighted in a recent report,…
THORSwap, a decentralized exchange (DEX) powered by the multichain THORChain protocol, has entered “maintenance mode” to prevent bad actors from moving illicit funds through the platform. The protocol took the actions on Oct. 6 as an immediate measure to counter the potential movement of illicit funds. The decision came after consulting with advisers, legal counsel and law enforcement, according to the original announcement. Fellow THORChads, A pressing and persistent concern has recently come to light: the potential movement of illicit funds through THORChain and, specifically, THORSwap. Such activities have no place on…
Adam Yedidia, Sam Bankman-Fried’s MIT buddy and former FTX developer, resumed his immunity-protected testimony on Oct. 5, sharing first-hand accounts of his tenure at the crypto exchange where he lived in a $35 million condo allegedly purchased with commingled customer cash. Department of Justice (DoJ) prosecutors filed a forfeiture notice for two FTX-owned private planes on day 2 of Sam Bankman-Fried’s trial. The DoJ plans to clawback a Bombardier Global 5000 and an Embraer Legacy EMB private jet, per InnerCityPress. US v. SBF WITNESSES 1& 2: In Bankman-Fried Trial, Adam…