FTX CEO John Ray III Dec. 13 testimony to the U.S. Congress revealed that the bankrupt exchange commingled assets and stored wallets’ private keys without encryption. According to Ray, FTX’s collapse was caused by the failure of corporate controls — the worst he has seen in over 40 years of handling bankruptcy cases. He noted …
Yearly archives: 2022
Bitcoin Miner Terawulf Raises $10M in Fresh Capital to Pay Down Debt, Restructures Deal With Bitmain
On Monday, Dec. 12, 2022, the Maryland-based bitcoin mining company Terawulf announced that the firm has raised $10 million in capital to pay down debts. The firm also said that it restructured a deal with Bitmain which will enable the company’s self-mining capacity to expand and fully leverage the 160 megawatts of Terawulf’s available mining …
Blackrock Warns of Unprecedented Recession for 2023, Bull Markets Not Returning
Blackrock, one of the largest asset management companies in the world, has warned that 2023 will be a year of recession different from other recessions in the past. As part of its recently issued 2023 Global Outlook report, Blackrock states that a new economic playbook is required in a world defined by a supply-based economy …
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Binance Coin Price Analysis: BNB Risks Further Retracement To $240
Binance Coin (BNB) was the only top 10-ranked crypto leading price drops on Tuesday as investors struggled to shake off Binance “FUD” that has been […] Go to Source
Top Crypto Analyst Predicts Ethereum Will Massively Outperform Bitcoin in 2023 – Here’s His Target
The crypto strategist who correctly called Bitcoin’s (BTC) 2018 bottom is predicting that Ethereum (ETH) will launch epic rallies next year en route to becoming the largest digital asset by market cap. The pseudonymous analyst Smart Contracter tells his 216,700 Twitter followers that he expects the ETH/BTC pair to skyrocket toward a level not seen …
What is a golden cross pattern and how does it work?
A golden cross pattern on the charts excites crypto traders for its promises of profitable opportunities ahead, largely due to its impressive success rate in traditional markets. The golden cross tends to preceded sustained uptrends in contrast with the bearish death cross pattern. For instance, since 1970, the S&P 500 has been returning about 15% gains on …
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Thai SEC to tighten up rules for crypto, focus on investor protection
Thailand joins the growing list of countries that are seeking to revise their crypto regulation in the aftermath of the FTX collapse. And, as most of these countries do, it intends to tighten the guidelines for the industry and focus on investor protection. According to the report from the Bangkok Post, published on Dec. 13, …
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FSB to lay out global standards for crypto regulation: Reports
The FTX collapse spurred action from a global financial watchdog to give recommendations to regulate the crypto industry early in 2023. The Financial Stability Board (FSB), an international organization that monitors the global financial system, has reportedly stated that it will be laying out steps to regulate crypto next year. According to Dietrich Domanski, the …
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Not medical advice: Bitcoiner implants Lightning chip to make BTC payments by hand
The Lightning Network continues to shock the Bitcoin (BTC) community. A swiss IT Professional called F418 (not his real name) surgically implanted a Lightning-enabled chip into his right hand to make Lightning Network (LN) payments. An X-Ray image of the chip implanted into F418’s hand. Source: Youtube Speaking with Cointelegraph, F418 said he experimented with …
Wrongly Published Documents Led This Crypto Miner To be Delisted By Mistake
Argo Blockchain, one of the largest crypto mining companies, is discussing selling company assets. The company has also revealed that it was at risk of […] Go to Source
Judge orders CFTC to serve Ooki DAO founders with lawsuit
A United States federal judge has ordered the Commodities Future Trading Commission (CFTC) to serve its lawsuit to the two original founders of the Ooki decentralized autonomous organization (DAO). On Dec. 12, District Judge William Orrick ordered the U.S. regulator to serve Tom Bean and Kyle Kistner, the founders of the decentralized trading platform bZeroX …
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Sen. Lummis still ‘very comfortable’ with Bitcoin in retirement plans
Pro-crypto United States senator Cynthia Lummis has remained steadfast in her support for Bitcoin (BTC) as part of diversified retirement plans, despite calls from her senator peers otherwise. As it stands, Lummis seems to be just one of the few openly crypto-friendly politicians in the United States and has notably pushed for progressive crypto regulation alongside Senator …
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Hours before his arrest, SBF denied being part of ‘Wirefraud’ chat group
Merely hours before news of his arrest by Bahamian police, Sam Bankman-Fried took to Twitter denying his involvement or knowledge of a secret group chat named “Wirefraud” — which allegedly involved former FTX and Alameda ranking executives. In a Dec. 12 response to a report from the Australian Financial Review (AFR), Bankman-Fried used Twitter to …
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It’s stacking up: SEC to file separate charges against FTX’s SBF
The worst isn’t yet over for the disgraced founder of crypto exchange FTX, Sam Bankman-Fried. On Dec. 12, the United States Securities and Exchange Commission (SEC) said it is preparing to file charges against Sam Bankman-Fried, which will be separate from the ones leading to his most recent arrest in The Bahamas. In a statement …
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FTX debtors attempt to seal corporate identities to obfuscate bankruptcy proceedings
According to documents filed on Dec. 12, the Debtors of FTX are attempting to obfuscate the bankruptcy hearing by continuing to insist all individual and corporate client identities are sealed unless specifically requested to be revealed. Sealing of personal information While the personal information of individual investors can rightly be viewed as private information that …