Tag: CEO

FTX Co-Founder’s Trial Commences: Defense Shifts Blame to Ex-Girlfriend and Binance CEO for Exchange’s Collapse

boss

FTX co-founder Sam Bankman-Fried’s (SBF) defense team tried to place blame on his ex-girlfriend, Caroline Ellison, and Binance CEO Changpeng Zhao (CZ) for the collapse of the cryptocurrency exchange. Mark Cohen, SBF’s lawyer, argued during the opening statements that SBF did not defraud anyone and acted in good faith, shifting responsibility for the alleged misconduct onto CZ, media reports said. Cohen contested the portrayal of SBF as a “cartoon villain,” describing him as a math nerd who abstained from drinking and partying. The defense asserted that SBF believed loans from…

Former BitMEX CEO says Bitcoin will rally to $750,000 by 2026

boss

BitMEX co-founder and former CEO Arthur Hayes predicts Bitcoin (BTC) could reach at least $750,000 by 2026. Hayes outlined several reasons behind his bullish outlook on Bitcoin in a recent interview with Tom Bilyeu, the CEO of Impact Theory.  The former CEO anticipates that in 2024, Bitcoin will see a surge to around $70,000. This boost is expected to be driven by various factors, including potential financial crises and the impact of the Bitcoin halving event. He also cited the potential introduction of spot BTC exchange-traded funds (ETFs) by major…

Former Bitmex CEO Arthur Hayes Anticipates Explosive Bitcoin Price Rise to $750,000 by 2026

Hayes based his bullish prediction on several key factors. He pointed to the potential economic downturn and financial crisis, which could lead to near-zero interest rates, creating favorable conditions for Bitcoin’s growth. Cryptocurrency expert and former Bitmex CEO Arthur Hayes has expressed strong optimism regarding the future of Bitcoin. During an interview on Tom Bilyeu’s YouTube channel, he suggested that Bitcoin’s value could skyrocket to between $750,000 and $1 million by 2026. Factors that Will Propel Bitcoin Bullish Trend to $750,000 Hayes based his bullish prediction on several key factors.…

Apple CEO Tim Cook Gets $41M from Share Sales after Tax Deductions, Analysts Downgrade AAPL Shares

Analysts at KeyBanc downgraded Apple shares from ‘Overweight’ to ‘sector-weight’ citing a weaker sales growth outlook. Apple Inc (NASDAQ: AAPL) top executives led by Chief Executive Officer (CEO) Tim Cook, senior vice presidents Deirdre O’Brien and Katherine Adams offloaded part of their shareholdings according to filings with the United States Securities and Exchange Commission (SEC). Notably, Apple CEO Cook sold about 511,000 shares worth approximately $87.8 million. However, after tax deductions Cook received a total of about $41.5 million. As a result, Cook now owns about 3.28 million shares in…

12 people will decide the fate of former FTX CEO Sam Bankman-Fried

boss

A pregnant physician’s assistant, a train conductor and a retired investment banker are reportedly among the 12 individuals who will eventually decide on the fate of former FTX CEO Sam Bankman-Fried. As per a report from Cointelegraph’s on-the-ground reporter Ana Paula Pereira, the 12 jurors were narrowed down from a list of 45 on Oct. 4, the second day of trial in Manhattan. The potential jurors were each given a minute to introduce themselves by sharing their background, age, employment, education, relationship history and children. Pereira noted that one prospective…

lack of crypto rules doesn’t impact charges against ex-FTX CEO

The United States Department of Justice (DOJ) says the lack of crypto rules in the U.S. doesn’t affect charges against ex-FTX CEO Sam Bankman-Fried (SBF). The DOJ has filed a motion to dismiss the argument that the absence of crypto regulations in the U.S. should affect the criminal charges against SBF, the former CEO of crypto exchange FTX. On Oct. 4, a motion was filed in response to Bankman-Fried’s legal team’s request for clarification and reconsideration of charges. They argued that their client wasn’t guilty of misappropriating funds because FTX…

New book reveals Binance CEO CZ rejected SBF’s $40M request for futures exchange

boss

Binance CEO Changpeng “CZ” Zhao reportedly declined to pay $40 million to former FTX CEO Sam Bankman-Fried (SBF) for a futures crypto exchange in March 2019, according to an excerpt from Michael Lewis’ book Going Infinite: The Rise and Fall of a New Tycoon. According to the book, SBF proposed a futures exchange with “zero risk” in case of bad trades with high leverage. Traditionally, a futures exchange allows traders to leverage funds against a small collateral, and the exchange often asks traders to increase collateral if the trade starts…

Softbank CEO Implores Japan to Wake Up to AI Adoption

Softacom CEO predicted that Artificial General Intelligence (AGI) would be realized within the next decade. Masayoshi Son, the founder and CEO of SoftBank Group Corp (TYO: 9984), has advised businesses in Japan to embrace the potential of Artificial Intelligence (AI) and called for early adoption. Son delivered the statement while speaking at the recent SoftBank World corporate conference, an annual event for the company’s corporate clients in Japan. Son’s keynote address brimmed with optimism and a sense of urgency. He highlighted the importance of Japan catching up with the rapidly…

Latest update — Former FTX CEO Sam Bankman-Fried trial [Day 1]

boss

Cointelegraph reporters are on the ground in New York for the trial of former FTX CEO Sam Bankman-Fried. As the saga unfolds, check below for the latest updates. Oct. 3: SBF trial begins The trial of Sam Bankman-Fried began on Oct. 3 with jury selection. Bankman-Fried is charged with seven counts of conspiracy and fraud in connection with the collapse of FTX, the cryptocurrency exchange he co-founded. He has pleaded not guilty to all charges. The case is being heard by Judge Lewis Kaplan, who has presided over a long…

ETF filings changed the Bitcoin narrative overnight — Ledger CEO

boss

Over the past 12 months, some investors learned the hard way why they needed to move their crypto offline. Those who kept Bitcoin (BTC) and altcoins on crypto exchanges like FTX lost control of their assets, sometimes forever. Events drew a red line under the storied crypto adage: “Not your keys, not your coins.”  FTX’s loss was hardware wallet manufacturer Ledger’s gain, however. The Bahamas-based exchange’s November 2022 bankruptcy filing delivered to Ledger “our biggest sales day ever,” the firm’s chief experience officer, Ian Rogers, told Cointelegraph, and “November turned…