Category: ICO

Bitcoin’s Drop Below $62K Is the Biggest Single-Day Loss Since FTX’s Collapse

Bitcoin’s (BTC) price correction gathered pace Tuesday as the U.S.-listed spot exchange-traded funds (ETFs) fell out of favor. The leading cryptocurrency by market value fell over 8% to under $62,000, data from charting platform TradingView shows. That’s the biggest single-day percentage (UTC) decline since Nov. 9, 2022. That day, prices tanked over 14% as Sam Bankman Fried’s FTX, formerly the third largest crypto exchange, went bankrupt. Bitcoin’s latest price slide has been catalyzed by several factors, including outflows from the spot ETFs, according to trader and economist Alex Kruger. Provisional…

3AC’s Kyle Davies Says He Won’t Apologize for Crypto Hedge Fund Going ‘Bankrupt’

“Am I sorry for a company going bankrupt? No, like companies go bankrupt, almost every company goes bankrupt, right?” Davies said about the public sentiment that he had not shown remorse. “It’s how you build or what you do about it. We’re definitely trying our best. We can add value in various ways. At a minimum, we can even tell the next Three Arrows how to do things better when they go bankrupt.” Source

Does Sam Bankman-Fried Deserve 50 Years in Prison?

The stage is set for a federal judge to determine how long Sam Bankman-Fried may spend in prison. The U.S. Department of Justice and defense attorneys have now both filed their arguments, as well as statements from FTX creditors (from the prosecution) and Bankman-Fried’s family and friends (from the defense). Source

Crypto Fan Won Ohio Senate Primary That Could Alter the Industry’s U.S. Destiny

If Brown loses, it not only changes the leadership of the committee, but it may also change the party with majority status in the Senate. In this session, the Senate has teetered at a 50-50 split that’s broken to the Democrats’ benefit by the vice president. It only takes one seat to shift and grant Republicans the majority, which would also give the party control of all the chairs (and the agendas) of the committees that would need to pass crypto bills. Source

DOJ’s Proposed 50-Year Sentence for Sam Bankman-Fried ‘Disturbing,’ FTX Founder’s Lawyers Say

“At age 32, the government wants to break Sam Bankman-Fried. They ignore completely his condition and vulnerabilities. Instead, they urge, menacingly, that the sentence imposed must ‘disable’ him even from ‘being in a position’ where he theoretically ‘could’ perpetrate a fraud,” the filing said. “That is a horrifying interpretation of specific deterrence.” Source