Bitcoin (BTC) is too “decentralized and transparent” for former FTX CEO Sam Bankman-Fried, says Cathie Wood. In a tweet on Dec. 10, Wood, who is CEO of investment giant ARK Invest, delivered a fresh damning appraisal of the FTX saga. Wood: SBF “couldn’t control” Bitcoin As the legal ramifications of FTX and Bankman-Fried, also known
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Arbitrum-based lending protocol Lodestar Finance was exploited in a flash loan attack on Dec. 10. According to Lodestar, the attacker manipulated the price of the plvGLP token before borrowing all platform liquidity using the inflated token. In a Twitter thread, Lodestar explained the attack flow. The attacker first manipulated the exchange rate of the plvGLP
To help out the recently duped investors of FTX Tokens (FTT), shareholder rights litigation firm — Schall Law Firm — has taken up the task of investigating the investors’ claims against FTX for violations of the securities laws. It is estimated that over one million people have lost their life savings owing to the financial
It’s not just pro-crypto regulations but also a supporting infrastructure that allows sustainable crypto adoption in any jurisdiction. Weighing in factors such as the number of Bitcoin (BTC) ATMs, blockchain companies and public interest in cryptocurrencies, Florida comes out as the most crypto-ready state in the United States. The U.S. hosts a network of 33,865
Ethereum is almost universally credited for kickstarting the Web3 revolution after it brought to life the concept of smart contracts. However, some in the Web3 community, like Astar Network’s Sota Watanabe, believe the protocol cannot “build the innovative future of blockchain alone.” In addition, some critics point to the language obstacle which they argue makes
The domino effect of FTX CEO Sam Bankman-Fried’s actions came full circle as his reputation began impacting the professional lives of his parents — Stanford Law professors Joseph Bankman and Barbara Fried. SBF’s father, Bankman, had to cancel his winter session course on tax policy, which according to The Standford Daily, was at a time
Bitcoin (BTC) price had a mixed reaction on Dec. 9 after the November report on United States producer prices showed a 7.4% increase versus 2021. The data suggested that wholesale costs continued to rise and inflation may last longer than investors had previously believed. Oil prices are also still a focus for investors, with crude
The United Kingdom’s Chancellor of the Exchequer, Jeremy Hunt, laid out a number of reforms aiming to “drive growth and competitiveness” to the country’s financial services sector including efforts that support the crypto space. In an announcement, the U.K. government highlighted that it will create a smarter regulatory framework for the country that it describes as “agile,
The economy is facing an outlook bleaker than a Welsh weather forecast, and few are rushing to buy risk assets. Here are a few tips for weathering unfavorable market conditions. Option #1: Save cash There’s no shame in sitting on the sidelines and saving cash or stablecoins. When bullish momentum returns, you will have plenty
Top Stories This Week 7 class action lawsuits have been filed against SBF so far, records show Former FTX CEO Sam Bankman-Fried has been named in seven class action lawsuits filed since the fall of his crypto empire. These lawsuits, however, are separate from the numerous probes and investigations examining the crypto exchange and its
Since taking over at the United States Securities and Exchange Commission (SEC), chairman Gary Gensler has repeatedly been referred to as the “bad cop” of the digital asset industry. To this point, over the past 18 months, Gensler has taken an extremely hard-nosed approach toward the crypto market, handing out numerous fines and enforcing stringent
Since their inception, cryptocurrencies have seen rapid growth and widespread market adoption, as evidenced by the assets tied to crypto assets that have started to appear in the portfolios and trading methods of numerous asset managers. The process of purchasing and selling cryptocurrencies to profit is known as cryptocurrency trading. Trading in cryptocurrencies can be
United States federal prosecutors have reportedly begun investigating whether the collapse of the Terra ecosystem was in fact triggered by market manipulation tactics by former FTX CEO Sam Bankman-Fried. According to a Dec. 7 report from The New York Times (NYT), the prosecutors — as part of a broader inquiry into FTX’s own collapse —
Bitcoin (BTC) maintained $17,000 support into Dec. 10 ahead of a critical week of macro data. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI print will make Fed “slow down” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded sideways after the close of trading on Wall Street. The pair looked set
According to a discussion at the 151st Ethereum Core Developers Meeting on Dec. 8, core programmers have set a tentative deadline of March 2023 for Ethereum’s Shanghai hard fork. In addition, developers will aim for May or June 2023 to launch the Ethereum Improvement Protocol (EIP) 4844 upgrade that will introduce proto-danksharding to the network.
Uniswap was in the green to start the weekend, despite cryptocurrency markets mostly consolidating. The token rebounded from losses suffered on Friday, moving closer to a key resistance level in the process. Dogecoin, on the other hand, fell lower on Saturday as traders attempted to find a stable point of support. Uniswap (UNI) Uniswap (UNI)
