The governor of California has signed off on a bill that aims to create a new regulatory framework for digital assets. Governor Gavin Newsom recently signed Assembly Bill 39, which establishes the Digital Financial Assets Law. The legislation requires the state’s Department of Financial Protection and Innovation (DFPI) to “create a robust regulatory framework, including …
Monthly archives: October 2023
Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)
The estate belonging to the now-defunct crypto exchange FTX was just spotted staking over $144 million worth of Ethereum (ETH) rival Solana (SOL) as the firm’s bankruptcy process unfolds. According to blockchain explorer SolanaFM, the address associated with FTX and its trading arm Alameda Research created a new stake of 5,546,217.04 SOL tokens. Analysis from …
An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why
A pair of lawyers unaffiliated with Sam Bankman-Fried or FTX are weighing in on the possibility of the former CEO testifying during his ongoing trial. In a new interview with Laura Shin on the Unchained Podcast, Sam Enzer, partner at law firm Cahill Gordon and Reindel, says he thinks Bankman-Fried would likely only make things …
Financial Fears Trigger Bank Run in China As Officials Push To Prevent Contagion: Report
Chinese authorities are moving to prevent further financial contagion as a bank run unfolds in one of its provinces. Thousands of customers lined up to withdraw their money amid worries that the Bank of Cangzhou is at risk of going under, reports state-run Chinese media. The regional bank lent hundreds of millions of dollars to Evergrande, …
The explosive revelations of Caroline Ellison: Law Decoded
SBF’s former girlfriend admits to fraud during her time as CEO of Alameda Research. Newsletter Join us on social networks Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellison admitted …
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Federal judge gives Genesis 5 days to comply with Terraform Labs subpoena
The order was unclear as to the nature of the documents under subpoena, but stated Genesis had failed to provide the information by Oct. 9. News Join us on social networks A United States judge has approved an order requiring Genesis Global entities to produce certain documents in accordance with a subpoena requested by Terraform …
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South Korea’s Upbit Wins Singapore Licence Approval
South Korea’s Upbit cryptocurrency exchange gained in-principle approval for a Major Payment Institution (MPI) licence in Singapore. The licence enables Upbit, South Korea’s leading crypto […] Go to Source
South Korea Wants Death Penalty For Four Accused In Gangnam Crypto Murder Case
South Korean prosecutors pressed for the death penalty for four suspects in the notorious Gangnam cryptocurrency murder case. The trial, held at the Seoul Central […] Go to Source
Bitcoin Falls After Brief Spike As BlackRock Shoots Down Report Of Spot Bitcoin ETF Approval
Bitcoin spiked to more than $30,000 on incorrect reports that the Securities and Exchange Commission (SEC) had approved a spot Bitcoin ETF, then dropped when […] Go to Source
Lawyers Hint Sam Bankman-Fried May Testify, Urge Increased Medication For ADHD
Lawyers for Sam Bankman-Fried hinted that the fallen crypto mogul may testify in his trial for fraud and conspiracy and urged that he be provided […] Go to Source
Apple’s App Store Briefly Removes Crypto Wallet MetaMask, Coinbase CEO Says Antitrust Action May Be Needed
Apple temporarily removed the crypto wallet MetaMask from its App Store, prompting Coinbase CEO Brian Armstrong to suggest filing an antitrust action against the Silicon Valley giant. MetaMask said it was aware that Apple users were not able to download its app, but that the issue wasn’t related to anything malicious. The company also warned …
Binance halts onboarding of new UK users
The move comes after the Financial Conduct Authority imposed restrictions on its U.K. partner REBS. News Join us on social networks Crypto exchange Binance will stop accepting users in the United Kingdom as of 5 p.m. local time on Oct. 16. According to Binance’s announcement, the move came after the country’s Financial Conduct Authority (FCA) imposed …
Nishad Singh testifies on Sam Bankman-Fried’s ‘excessive’ investments through Alameda
The former FTX engineering director reportedly testified that SBF would “unilaterally spend Alameda’s money” and was “ultimately” in charge of the firm rather than Caroline Ellison. News Join us on social networks Former FTX engineering director Nishad Singh reportedly told a New York courtroom that former CEO Sam “SBF” Bankman-Fried had a habit of deciding …
What is Reed’s law, and why does it matter in the crypto space?
Understanding Reed’s Law The concept of network effects is extended by Reed’s Law, which was developed by Harvard professor David P. Reed in 1999 and emphasizes the importance of communities and subgroups within a network. Reed’s Law states that the value of a network increases exponentially with the number of potential subgroups that users can …
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Binance stops accepting new UK customers effective today
What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops…you must lock a minimum of 20,000 ACS If you don’t have enough, buy ACS on …
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