Tag: Report

Director YOLO’d $4M of Netflix budget into Dogecoin, made $27M: Report

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The director of Netflix’s sci-fi series Conquest reportedly used $4 million from the show’s budget to bet on Dogecoin (DOGE) and made $27 million in the process. Now the director, Carl Erik Rinsch, wants another $14 million from Netflix, according to a Nov. 22 report in The New York Times citing a confidential arbitration proceeding. The Times report details the behind-the-scenes drama of Rinsch’s sci-fi Netflix series Conquest, which the streaming giant doled out $55 million to make, but is yet to receive an episode. In March 2020, 16 months…

HTX exchange loses $13.6M in hot wallet hack: Report

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HTX, formerly Huobi Global, suffered an estimated loss of $13.6 million as part of the $86.6 million HECO Chain bridge exploit on Nov. 22.  According to a report by blockchain security firm Cyvers, the losses stem from three compromised hot wallets with users and exchange assets swapped for Ether and distributed to various Ethereum addresses thereafter. Among other coins and tokens, Cyvers says that 1,240 Ether (ETH), 7.3 million Tether (USDT), 1.78 million USD Coin (USDC), and 62,200 Chainlink (LINK) were drained during the attack.  Justin Sun, de-facto owner of HTX and founder of…

Setting new standards for crypto exchanges in the post-FTX era: Report

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The year 2022 saw a historic breakdown of trust in exchanges and other crypto service providers. The collapses of Sam “SBF” Bankman-Fried’s FTX and Alex Mashinsky’s Celsius are still fresh in the community’s memory, with SBF’s criminal trial only recently concluding. These cases serve as a painful reminder that fraud and bad business practices can happen in corporations of any size and that crypto, as a nascent industry, is especially susceptible. A sleek website, high trading volume or primetime television ads are no guarantee that a customer’s savings will be safe. …

Bitcoin and BNB See Quick Gains amid Binance Settlement Report

Both currencies remain in the down zone on the daily chart, registering 2.6% and 9.34% declines respectively. Bitcoin (BTC) and Binance Coin (BNB) have regained the losses they registered the day before. This follows after crypto exchange Binance resorted to settling with the United States Justice Department by paying fines totaling over $4 billion. Similarly, Binance CEO Changpeng Zhao (CZ) also handed in a plea bargain on the day, with the two events greatly improving the odds that a spot Bitcoin exchange-traded fund (ETF) will be approved in the US…

Global Banks Are Betting Big On XRP, Report Shows

Global banks have begun actively integrating crypto assets into their financial operations, and XRP has been one of their top preferences. This news signifies a shift in the skepticism surrounding cryptocurrencies, revealing how some of the world’s leading banks seek to leverage XRP’s fundamental strengths as a cross-border payments system.  BCBS Highlights XRP Dominance In The Banking Sector The Basel Committee on Bank Supervision (BCBS) has recently published its first data collection template report on banks’ holdings of crypto assets. This report gives detailed insight into the crypto exposure of…

Tether’s bank partner Britannia sued over $1B deposit: Report

Tether’s bank partner Britannia Financial is reportedly facing a lawsuit over claims it failed to pay the full price of revenue-generating assets allegedly related to a large deposit from Tether. Arbitral International, a company registered in the British Virgin Islands, has sued Britannia over a $1 billion deposit from Tether, the Financial Times reported on Nov. 21, citing court documents filed in the High Court of Justice in London in 2023. The lawsuit relates to Britannia’s acquisition of Arbitral’s Bahamas-based brokerage business known as Arbitral Securities. Britannia announced the acquisition…

OpenAI seeks to diffuse internal tensions after Altman departure: Report

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OpenAI executives are trying to smooth out internal discord after the abrupt termination of former CEO and co-founder Sam Altman and others through “intense discussions,” according to a Bloomberg report.  An internal memo from OpenAI vice president of global affairs Anna Makanju, as seen on Nov. 20 by Bloomberg, said top management is trying to unify the staff, currently in upheaval over recent events. “We can assure you that our number one goal remains to reunify OpenAI and discussions are actively ongoing.” Makanju said OpenAI is communicating with incoming CEO Emmett…

BNB pops after report that DOJ wants $4B settlement with Binance

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BNB (BNB) has gained over 7% in the last day after Bloomberg reported that the United States Department of Justice is contemplating a $4 billion settlement with Binance to resolve its investigation into the company. Cointelegraph Markets Pro shows BNB spiked 6% to $262 in around 30 minutes after Bloomberg’s Nov. 20 report, which said Binance was negotiating an agreement to resolve a DOJ probe into alleged sanctions violations, money laundering and fraud. BNB dropped to $252 around four hours later but notched a second spike to $266 — its…

OpenAI staff tells board to resign after Sam Altman ousting: Report

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OpenAI staff are reportedly not happy about their board of directors firing founder Sam Altman. According to a social media post from tech podcaster Kara Swisher, employees sent a letter to the board demanding that they resign. A total of 505 out of 700 employees signed the letter, the post stated. Breaking: 505 of 700 employees @OpenAI tell the board to resign. pic.twitter.com/M4D0RX3Q7a — Kara Swisher (@karaswisher) November 20, 2023 OpenAI is the developer of the artificial intelligence (AI) program ChatGPT. The program has over 100 million active users, according…