.

2022-12-21 09:22:02 FTX Now Seeking 'Prompt Return' of Sam Bankman-Fried's Political Donations

The team overseeing FTX's bankruptcy proceedings has warned that donations made by former CEO Sam Bankman-Fried or other executives should be returned. FTX's operations are now overseen by its new CEO John J. Ray III.

FTX said the exchange had already “been approached by a number of recipients of contributions or other payments” made by or at the direction of Sam Bankman-Fried or other officers. FTX said in a statement, adding that it’s “working with these recipients to secure the prompt return of such funds.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-12-20 10:41:02 Argentina fan token dumps 50% despite World Cup win

Argentina’s fan token ARG dumped over 50% of its value, trading for as low as $2.68 from over $6 in the last 24 hours despite the country winning the 2022 FIFA World Cup in Qatar, according to CryptoSlate data.

The drop in the fan token’s value is a surprise, as holders would have expected the victory to increase ARG’s value. It was unclear why the asset experienced a huge sell-off. The fan token had declined by over 30% during the early days of the tournament when Argentina suffered a shock defeat to Saudi Arabia. ARG shed over 60% of its value during the World Cup tournament.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-12-19 08:31:02 Dutch Bitcoin Exchange Bitvavo Alleges Digital Currency Group Is Having ‘Liquidity Problems’

Dutch cryptocurrency exchange Bitvavo says it has 280 million Euros ($297 million in USD) stuck with Digital Currency Group (DCG), or 17.5% of the $1.6 billion Euros Bitvavo says it manages in deposits and other assets.

Bitvavo claims in a blog post that DCG is “experiencing liquidity problems due to the current turbulence in the cryptomarket” and that DCG “has suspended repayments until this liquidity issue has been resolved.”.DCG spokesperson told Reuters that the funds are held by its “independent subsidiary” Genesis

Source

Join Now
@BitcoinBreaking Open / Comment

2022-12-18 05:10:03 Bankman-Fried said he ‘doesn’t give a sh*t’ about his legacy 3 months before FTX collapse

FTX founder Sam Bankman-Fried (SBF) was once touted as the cryptocurrency king, a reputation that has eroded with the exchange’s collapse resulting in his arrest over fraud charges. Before the collapse.

Bankman-Fried had exuded confidence about the trading platform’s future, sharing the plans to expand FTX and his legacy. Indeed, in an interview (min 23:40) with CNBC on September 16, Bankman-Fried noted that he does not care about his legacy in the crypto space, maintaining his primary focus was on creating impact.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-12-17 06:28:02 Coinbase creates self-service recovery of unsupported ERC-20 tokens sent to exchange

Leading crypto exchange Coinbase has announced the launch of its asset recovery tool, which enables users to recover up to 4,000 unsupported ERC-20 tokens. Dec. 15 that it has developed a self-service recovery tool for ERC-20 tokens.

Previously, users who sent tokens not registered on the Coinbase Ledger were at risk of not receiving them in their wallets. As a result, the funds remained unrecoverable since Coinbase does not have access to the private keys needed to reverse the transactions. Eligible Coinbase users can easily redirect lost assets to their self-custodial wallet, without disclosing their private keys.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-12-16 05:38:02 FTX used 'weird Korean account' to mask Alameda liabilities, CFTC says

Former CEO of FTX Sam Bankman-Fried directed company executives to reallocate Alameda Research's large liability with the exchange to "the weird Korean account" to mask its liability with the firm, according to a complaint by the Commodities Futures Trading Commission.

The CFTC, the U.S. Securities and Exchange Commission (SEC) and the U.S. Attorney's Office for the Southern District of New York (SDNY) all brought numerous charges of fraud against Bankman-Fried on Tuesday over the collapse of FTX and Alameda. Bankman-Fried is currently being held in jail in the Bahamas awaiting an extradition hearing, after not receiving bail.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-12-15 05:35:04 Australia to Launch Crypto Licensing Regime to ‘Modernize’ Financial System

Australia will introduce a new framework for regulating crypto firms next year as part of wider plans to modernize the country’s financial system. “including the advent of new digital products and services.”.

The move represents the next steps for the relatively new Government, which came to power in May under Prime Minister Anthony Albanese. The Government also outlined plans on Wednesday to update the country’s payments systems, strengthen its financial market infrastructure, and regulate Buy Now, Pay Later products like Afterpay.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-12-14 09:44:02 Crypto insurance firm Evertas raises $14 million from Polychain Capital

Crypto insurance firm Evertas secured $14 million in funding in a Series A round, according to a report from CoinDesk. Several angel investors also participated including former Coinbase executive Balaji Srinivasan and BH Digital's Colleen Sullivan.

Evertas is a specialist insurance firm for the crypto industry which offers insurance for everything from theft and loss in relation to crime and custody, to more niche services like coverage for malfunctioning smart contracts.The startup, founded in 2017, previously raised $5.8 million in a seed round this time last year led by Morgan Creek Digital, which also led Evertas' $2.8 million seed raise in 2020.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-12-13 05:42:02 Binance Labs Leads Funding Round For Web3 Security Startup

Aligning with ambitious investment plans in the ongoing bear market, Binance Labs – the venture capital arm of the world’s largest crypto exchange – announced leading a private round II for GoPlus Security.

According to the official blog post, Go Plus Security also intends to use the funds to launch a security service marketplace at the end of 2022. The move comes days after Binance CEO, Changpeng Zhao (CZ), confirmed plans to use an astonishing reserve of $1 billion on acquisitions and investments.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-12-12 05:10:03 FTX Co-Founder Sam Bankman-Fried Agrees to Testify Before US Congress

The co-founder of collapsed crypto exchange FTX, Sam Bankman-Fried (SBF), has agreed to testify at one of the two congressional hearings set for next week. “I had thought of myself as a model CEO, who wouldn’t become lazy or disconnected,” Bankman-Fried claimed.

Former FTX CEO Sam Bankman-Fried (SBF) has agreed to testify before the House Committee on Financial Services after the committee’s chair, Congresswoman Maxine Waters, politely tweeted inviting him to testify several times. Another congressional hearing is set for Wednesday, Dec. 14. U.S. Senator Sherrod Brown.

Source

Join Now
@BitcoinBreaking Open / Comment