Controversial Archives

Cryptocurrency Exchange FTX Files Lawsuit Against Former CEO and Executives Over Controversial Acquisition

May 18, 2023 boss

Cryptocurrency exchange FTX has taken legal action against its former CEO Sam Bankman-Fried, co-founder Zixiao Wang, and former senior executive Nishad Singh. The lawsuit stems from the controversial $220 million acquisition of stock-clearing platform Embed, with FTX lawyers claiming a lack of due diligence in the transaction. In a filing on May 17, FTX alleged that it had acquired Embed through its United States subsidiary without conducting thorough due diligence. Following FTX’s bankruptcy filing, the court approved the sale of Embed and other FTX assets, but the highest bid for…

Controversial ‘Tiktok Ban Bill’ Sparks Concerns Among Cryptocurrency and Technology Advocates – Bitcoin News

March 29, 2023 boss

Cryptocurrency and technology proponents have recently been discussing a new bipartisan bill called the “Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT)” Act. In addition to targeting firms such as Kaspersky, Huawei, and Tiktok, opponents of the bill believe one of its provisions will punish ordinary Americans for leveraging a virtual private network (VPN). However, a spokesperson for Democratic senator Mark Warner insists the “legislation is aimed squarely at companies” and “not at individual users.” Concerns Over the RESTRICT Act’s Potential Impact on Cryptocurrency and…

Bitcoin Miner Digihost Completes Controversial Power Plant Acquisition, Doubling Energy Capacity

February 8, 2023

The Toronto-based firm was able to pay for the plant with cash, so avoided taking on debt or diluting existing shareholders’ equity, CEO Michel Amar said in a Wednesday press release. In March 2021, the company said it would pay $4.25 million in cash and stock. It hadn’t responded to requests about the final price by publication time. Source

Controversial Tron-Based Altcoin Skyrockets 39,500% After Launch on Crypto Exchange Huobi

February 7, 2023 boss

An altcoin recently launched on crypto exchange Huobi has exploded exponentially since being listed. FTX Users’ Debt (FUD), based on Tron (TRX) and first listed on Huobi, aims to maintain its value with the backing of the debt of those who lost funds on collapsed crypto exchange FTX. The token is issued by DebtDAO, an organization that has no direct affiliation with FTX. FUD is meant to represent $1 of debt, and had an initial supply of 20 million tokens. Tron founder and Huobi advisor Justin Sun described FUD as…

Google Backs AI Firm Anthropic With $300 Million, Following Series B Investment From Controversial FTX Co-Founder – Bitcoin News

February 4, 2023

As the artificial intelligence (AI) wars intensify, the AI firm Anthropic has raised $300 million from Google and sources say that the tech giant will get roughly a 10% stake in the AI company. Interestingly, in April 2022, Anthropic raised approximately $500 million from sources including Sam Bankman-Fried (SBF), co-founder of FTX; Caroline Ellison, former CEO of Alameda; Nishad Singh, former director of engineering at FTX; and several others. AI Company Backed by Sam Bankman-Fried Raises $300 Million in Capital From Google Following the launch of Chatgpt and Microsoft’s investment…

The FTX Collapse, Explained | What Went Wrong | WSJ

January 9, 2023

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Former CEO Sam Bankman-Fried was hailed as a savior of crypto before FTX’s implosion. Cryptocurrency exchange FTX was seen as a survivor in a struggling industry, but over the course of six days the exchange collapsed due to a sudden liquidity crunch. WSJ explains the factors that drove FTX’s growth and what led to its downfall. Illustration: Alexandra Larkin News Explainers Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day’s biggest stories…

DeFi Project Popsicle’s ICE Token Triples As Controversial Wonderland Founder Returns

December 21, 2022

The sudden price surge of Popsicle’s ICE native token coincided with the controversial blockchain developer Daniele Sestagalli unveiling his return to rebuild the project. Source

New Blockchain Aptos Unveils Controversial Tokenomics, APT Incentive Plans

October 18, 2022

The Aptos Foundation holds 410 million tokens overall, which will be released over the next ten years. Of that, 125 million APT is available initially to support ecosystem projects, grants, and unspecified community growth initiatives, and a smaller 5,000,000 APT available initially to support the Aptos Foundation initiatives for the Foundation category. Source

Controversial Crypto Lawyer Kyle Roche Pulls Out of Nexo, Binance.US, Solana and Dfinity Lawsuits

September 1, 2022

CryptoX – Cryptocurrency Analysis and News Portal Last Friday, whistleblower site Crypto Leaks published a series of damning videos, accusing the lawyer of weaponizing class-action lawsuits to collect sensitive information on various crypto companies. The site also alleged Roche’s lawsuits purposely attacked competitors of the blockchain project Avalanche, which Roche allegedly received tokens from and has previously represented in legal matters. Original Source The post Controversial Crypto Lawyer Kyle Roche Pulls Out of Nexo, Binance.US, Solana and Dfinity Lawsuits appeared first on CryptoX. CryptoX Portal

Controversial mixer Tornado Cash open-sources UI code

July 7, 2022 boss

Popular cryptocurrency mixer Tornado Cash has fully open-sourced its user interface (UI) code — a move its developers say fulfills their mandate of complete decentralization and transparency. Tornado Cash Classic UI became fully open-sourced on Thursday, the protocol’s anonymous developers announced in a Medium blog post. Although the protocol’s UI has been decentralized since 2020, its open sourcing means anyone can analyze Toronado Cash’s UI pools and make pull requests to improve the project. In the software development world, a pull request is when a developer is ready to merge…