Techno Blender
Digitally Yours.
Browsing Tag

FTX

Wait, Is Bitcoin Going to Die?

The price of Bitcoin crashed nearly 10% on Wednesday, falling from $45,000 to below $41,000 in mere hours, hurting crypto’s best bull run in a year. But what, or who, could have been the culprit behind the crash? The day before, CNBC’s host of Mad Money, Jim Cramer, directed his powerful investing advice towards Bitcoin. He Tossed His Bitcoin, Now He Wants It Back“You can’t kill it,” said Cramer on CNBC Tuesday, referring to the remarkable rally Bitcoin had last year. “It’s here to stay,” he said, just a day before the…

SBF Won’t Get Second Trial After DOJ Drops Five Charges

Sam Bankman-Fried once faced 13 criminal charges relating to his massive fraud scheme at the crypto exchange FTX. However, he’ll only face consequences for the seven charges he was found guilty of in November. Sam Bankman-Fried Using a VPN, McDonald’s AI Drive Thru Fails, Buzzfeed AI Quizzes Suck | Editor PicksThe United States Department of Justice (DOJ) dropped a second trial against Sam Bankman-Fried relating to five additional charges, according to a letter from the department to Judge Lewis Kaplan on Friday.“The…

sam bankman-fried second trial: Sam Bankman-Fried will not face a second trial: US prosecutors

U.S. prosecutors said they do not plan to conduct a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange.In a letter filed on Friday night in federal court in Manhattan, prosecutors said the "strong public interest" in a prompt resolution of their case against the 31-year-old former billionaire outweighed the benefits of a second trial.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School…

FTX Embed deal claims: FTX debtors settle claims over Embed deal with Sam Bankman-Fried, others

Bankrupt crypto exchange FTX and its debtors on Friday said they have entered into a settlement agreement with founder Samuel Bankman-Fried and others to resolve some claims related to its acquisition of stock trading platform Embed.The settlement agreement is between Bankman-Fried, and former FTX executives Nishad Singh and Gary Wang.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIIM LucknowIIML…

Crypto markets: Bitcoin’s 160 pct Rebound in 2023 Is a Gamble on ETF ‘Demand Shock’

The sense of doom that gripped crypto markets at the end of 2022 following a $1.5 trillion wipeout has 12 months later given way to a very different sentiment: avarice. Bitcoin stormed back with a more than 160% advance this year that added some $530 billion to its market capitalization. In its wake, myriad smaller tokens ranging from Sam Bankman-Fried-backed Solana to dog- and frog-themed memecoins took off as investors embraced risk again. An investor who bought $100,000 of Solana at the start of 2023 would now be…

ftx: The hot new market in crypto? Trading FTX’s carcass

After the FTX cryptocurrency exchange filed for bankruptcy last year, Thomas Braziel, an investor who specializes in collapsed businesses, started brokering an unusual kind of transaction: a market to profit from FTX's downfall.Braziel put one of his clients in touch with a large financial firm that had lost nearly $100 million when FTX went under. Last December, the firm agreed to sell its claim in the FTX bankruptcy -- essentially an IOU from the collapsed exchange -- for 6 cents on the dollar, betting that it was…

ftx bahamian liquidators dispute: FTX resolves dispute with Bahamian liquidators

Bankrupt crypto exchange FTX Trading on Tuesday announced a settlement with liquidators for FTX's Bahamas unit, resolving a long-simmering dispute over whether the company's US bankruptcy proceedings should take precedence over the Bahamian liquidation. FTX and FTX Digital Markets have agreed to pool their assets and harmonise their approach to valuing customer claims to ensure equal treatment for customers in either country's insolvency process. Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

Binance’s Changpeng Zhao pleads guilty, steps down to settle US illicit finance probe

Binance chief Changpeng Zhao stepped down and pleaded guilty to breaking U.S. anti-money laundering laws as part of a $4.3 billion settlement resolving a years-long probe into the world's largest crypto exchange, prosecutors said on Tuesday.The deal, which will see Zhao personally pay $50 million, was described by prosecutors as one of the largest corporate penalties in U.S. history. It is another blow to the crypto industry that has been beset by investigations and comes on the heels of the recent fraud conviction of…

Binance CEO Pleads Guilty to Money Laundering Violations, Will Step Down

Binance founder Changpeng Zhao (CZ) will step down from his CEO duties and plead guilty to criminal charges, paying a $50 million fine, according to court documents made public Tuesday. The Department of Justice is expected to announce a $4 billion settlement with Binance this afternoon, putting an end to an investigation by the CFTIC into the world’s largest crypto exchange.The Biggest Crypto Heists of 2022…So FarBinance U.S. may live to trade another day, but not with CZ at the helm. New details emerged Tuesday around a…

Binance May Sacrifice $4 Billion to Settle DOJ Case

The US Justice Department seeks $4 billion from Binance to end a years-long investigation into the world’s largest cryptocurrency exchange, according to Bloomberg. Negotiations are reportedly underway that could subject Binance co-founder and CEO Changpeng Zhao (aka CZ) to criminal charges in the US.Why Should Crypto Currencies be Called Securities? | Gizmodo InterviewBloomberg cites “people familiar with the discussions” as saying that the Justice Department alleges money laundering, bank fraud, and sanctions violations…