“After monitoring the evolving situation and discussing internally, we’re suspending our partnership with FTX effective immediately,” the company tweeted out in a statement. “This means that FTX branding will no longer appear on any of our org, team and player social media profiles, and will also be removed from our player jerseys.” Source 210MEsportsFTXGiantPartnershipSuspendsTSM CryptoX Portal
Per a report from the Washington Examiner, NFL Legend Tom Brady and others are facing a class action lawsuit from FTX investors. The football player is one of the many celebrity ambassadors who vouched for the crypto exchange platform. Earlier this week, FTX halted new request withdrawals from its users. Later, its former top executive Sam Bankman-Fried filed for bankruptcy protection in the United States. In the meantime, millions of dollars in users’ funds are stuck at the venue. Shortly after, these funds were stolen by a bad actor, adding…
Crypto advocates in Washington routinely maintain that crypto policy is a non-partisan issue that can move forward even in a divided Congress. However, this week’s rhetoric from Democrats such as Sen. Sherrod Brown (D-Ohio), the chairman of the Senate Banking Committee, has painted a harsh picture of crypto suspicion. And many Republicans have been defending the industry, arguing to separate the actions of FTX from the crypto technology underpinning the business. Source
Lisa Braganca, former SEC enforcement branch chief, discusses why regulation for crypto is likely to come from the SEC or CFTC rather than Congress and why SBF’s lawyers are “apoplectic.” Source
So Enron created Chewco to bid on the CalPERS position. Chewco was nominally independent, but was in fact funded, owned and run by Enron and its executives, and ultimately backed by the value of Enron’s own stock through a secretly guaranteed bank loan. Chewco bought out CalPERS at an inflated, and fundamentally fraudulent, price. Source
Data shows the Bitcoin 7-day volatility has come alive during the last week as the collapse of crypto exchange FTX has shaken up the market. Bitcoin 7-Day Volatility Has Spiked To Values Above 7% According to the latest weekly report from Arcane Research, the current 7-day volatility levels are the second highest seen in this year. The “volatility” is an indicator that keeps track of the average daily returns in the price of Bitcoin over a specific period of time. While this timespan can be of any length, the “7-day”…
The Treasury Committee held a hearing on Monday to question officials from crypto companies in the aftermath of FTX’s collapse, and Daniel Tinder, offered to send the document after Member of Parliament Harriett Baldwin, who is chairwoman of the committee, asked if Binance CEO Changpeng Zhao “brought about the collapse of FTX?” Source
The Canadian cryptocurrency exchange Bitvo has terminated the proposed acquisition transaction it had with the FTX in order to preserve its standing as an autonomous company. Pateno Payments, which is an investor in Bitvo, has cancelled the purchase transaction it had been discussing with FTX Canada and FTX Trading in accordance with the terms of the agreement. Pateno Payments is a stakeholder in Bitvo. This information was disclosed by Bitvo on November 15th. The business has made it abundantly obvious that its operations have not been hampered in…
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The MOST INSANE day in crypto just happened. FTX (as we know it) is no more. Seems like this was part of CZ Binance’s master plan all along. In this video I breakdown & explain everything. Vote Altcoin Daily for Best News Source & Influencer of the Year: Join us in Miami for Dcentral: Hit Like, Share, and Subscribe for more daily cryptocurrency news Altcoin Daily, the best cryptocurrency news media online! Follow us on Twitter: Timestamps: 0:00 – Most crazy day…
Rep. Maxine Waters (D-Calif.) and Rep. Patrick McHenry (R-N.C.), respectively the chair and ranking member of the committee, said in a joint statement that the lawmakers would want to hear about the collapse of the crypto exchange and its “broader consequences” for the cryptocurrency ecosystem. The committee plans to hear testimony from now-former FTX CEO Sam Bankman-Fried and representatives from FTX, its sister company, Alameda Research, and Binance, which briefly suggested it would acquire FTX. Source