Tag: Report

Flight Radar Report Shows FTX Co-Founder’s Private Jet Flew to Argentina, SBF Says He’s Still in the Bahamas – Bitcoin News

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According to Flightradar24’s official Twitter account, the most tracked flight at 3:33 a.m. on Nov. 12, 2022, was Sam Bankman-Fried’s (SBF) private jet flying from the Bahamas to Argentina. While the flight track doesn’t mean SBF took the flight, a number of people suspected someone from SBF’s inner circle did fly out of the Bahamas. The former FTX CEO, however, texted Reuters after the flight and told the news outlet he did not leave the Bahamas. Former FTX CEO’s Private Jet Embarks to Argentina, SBF Claims He Remains in the…

Report Says Alameda Research ‘Didn’t Trade Crypto,’ Speculators Think SBF’s Political Connections Let FTX Fly Under the Radar – Bitcoin News

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On Nov. 11, 2022, FTX Trading Ltd. filed a voluntary petition for Chapter 11 bankruptcy protection in Delaware. The news followed a few days of speculation and evidence that had shown the digital currency exchange was likely insolvent. The company’s bankruptcy filing and information concerning Sam Bankman-Fried’s (SBF) quantitative cryptocurrency trading firm Alameda Research shed some more light on the situation. Moreover, crypto proponents have questioned why U.S. regulators let FTX fly under the radar. Bankruptcy Filing Highlights FTX’s and Alameda’s Long List of ‘Portfolio Companies’ This past Friday, the…

Brussels Set to Begin Talks on EU Crypto Tax, Report Reveals – Taxes Bitcoin News

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The European Commission is preparing to discuss with member states the adoption of a common tax regime for crypto assets, European officials have indicated. The talks with national treasuries are expected to start next year with the aim to end the differentiated tax treatment of cryptocurrencies across the bloc’s 27 jurisdictions. European Union to Consider Single Tax Regime for Crypto Income and Profits The executive body in Brussels, the European Commission, intends to soon launch talks with the financial ministries of the member states on whether establishing a Union-wide tax…

‘Need to update my LinkedIn’ — FTX Ventures head resigns: Report

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Amy Wu, an investor in FTX and the head of the firm’s venture capital arm, FTX Ventures, has reportedly resigned her position. According to a Nov. 11 report from The Information, Wu resigned as head of FTX Ventures following the announcement FTX would be moving forward with bankruptcy proceedings in the United States. According to her LinkedIn profile, Wu had been based at FTX Venture’s offices in The Bahamas since January. FTX Ventures’ website along with that of Alameda Research went dark on Nov. 9 amid its parent company’s liquidity…

Climate Chain Coalition releases report on blockchain and emerging technologies at COP 27

The Climate Chain Coalition (CCC), a network of organizations dedicated to leveraging blockchain technology for effective climate action, including Cointelegraph as a member, delivered on Nov. 11 its stock take report at the United Nations Climate Change Conference, or COP27, in Sharm El-Sheikh, Egypt.  Founded five years ago, the coalition has been working on initiatives related to the consumption accounting system and greenhouse gas emissions accounting. Tom Baumann, chair and founder of the Climate Chain Coalition, stated: “During those years, the Coalition has grown from 12 founding organizations to over…

CySEC requested FTX’s European arm suspend operations prior to bankruptcy: Report

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The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States that the regulator requested the exchange halt operations for its Europe arm. According to a Nov. 11 Reuters report, the CySEC said it had asked FTX Europe to “suspend its operations and to proceed immediately with a number of actions for the protection of the investors” on Nov. 9. It’s unclear why the financial regulator chose to reiterate its call to the crypto exchange, given FTX…

ETH Moves Higher as Markets Continue to React to US Inflation Report – Bitcoin News

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Ethereum was trading higher on Friday, as cryptocurrency markets continued to rebound, following yesterday’s U.S. inflation report. The better-than-expected 7.7% CPI (consumer price index) figure for October boosted prices, following recent bearish sentiment. Bitcoin briefly climbed back above the $18,000 level on Friday. Bitcoin Bitcoin (BTC) moved higher on Friday, as the token rebounded following a recent spell of relatively large sell-offs. Following a low of $16,290.27 on Thursday, BTC/USD surged to an intraday peak of $18,054.31 earlier in the day. The move came as the world’s largest cryptocurrency continued…

Embattled Crypto Exchange FTX Lent Billions in Customer Assets To Fund Alameda Research: Report

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A new report claims that troubled crypto exchange platform FTX lent billions of dollars worth of its customers’ assets to fund its quantitative trading branch. According to The Wall Street Journal, FTX CEO and founder Sam Bankman-Fried told investors that Alameda Research owes FTX about $10 billion worth of customer funds. The source says that Bankman-Fried gave out loans to Alameda Research using $10 billion out of the $16 billion in customer deposits FTX had, a move the CEO described as a “poor judgment call.” Bankman-Fried, who was also the…