Former FTX CEO, Sam Bankman-Fried, is on trial for conspiracy and fraud charges related to the collapse of the cryptocurrency exchange, FTX.
Former crypto billionaire Sam Bankman-Fried is facing trial and potential decades in prison over accusations of stealing billions in one of the biggest financial frauds in US history.
Michael Lewis's book, "Going Infinite: The Rise and Fall of a New Tycoon," explores the collapse of the cryptocurrency exchange FTX and its founder Sam Bankman-Fried, revealing a tale of ambition, fraud, and the blurred line between philanthropy and personal gain.
The U.S. Securities and Exchange Commission (SEC) has asked a judge to reject Coinbase Global's request to dismiss the regulator's lawsuit against the cryptocurrency exchange, arguing that a recent court ruling used by Coinbase in its defense does not apply in this case.
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Crypto exchange Binance, along with the US government and Thai police, has helped dismantle a multi-million-dollar crypto scam in Thailand that targeted novice traders with fake investment platforms, resulting in the arrest of five principal members and the seizure of assets worth $277 million.
Bitcoin (BTC) has reached six-week highs, but some analysts predict that the price could return to $20,000, with October potentially being a bearish month for the cryptocurrency.
Former crypto executive Sam Bankman-Fried's interviews and leaked notepad reveal his claims of ignorance regarding the operations at Alameda and FTX, while prosecutors aim to prove the opposite in his trial for wire fraud and conspiracy to commit fraud.
Crypto billionaire Sam Bankman-Fried's biography by Michael Lewis generates controversy as it portrays him as a well-intentioned genius despite being indicted for allegedly masterminding a massive fraud, with the book providing insights into Bankman-Fried's peculiar childhood, concerns about his management skills, and his creative efforts to skirt regulations.
Cryptocurrency prices surged in October, with Bitcoin and Ethereum both experiencing positive gains, while the launch of Ethereum exchange-traded funds (ETFs) contributed to the momentum in the market. Bitcoin saw a significant increase in price after the clearing of short positions in the futures market, and Ethereum's rise was driven by the anticipation of ETF launches.
"Going Infinite" by Michael Lewis provides a detailed account of Sam Bankman-Fried's rise and fall as the founder of FTX, without definitively answering the question of his guilt but presenting a depiction of Bankman-Fried as delusional and callous, alongside skepticism towards his critics.
Bitcoin (BTC) experienced a slight increase in price before the daily close after previously giving up $1,300 in gains, with traders hoping for a slow and steady climb back to highs rather than a sudden spike.
Solana has emerged as the most loved altcoin among institutions, with 27 weeks of inflows and partnerships with financial institutions like Visa, while Ethereum continues to be the least-loved altcoin, experiencing seven straight weeks of selling.
Sam Bankman-Fried's defense team seeks clarification from the U.S. judge overseeing his case on various arguments they can present, including whether FTX's lack of U.S. regulation, potential recoveries for FTX creditors, and Bankman-Fried's philanthropy can be mentioned, following the judge's decision to block certain arguments made by the defense.
Some Friend.Tech users fell victim to SIM swap attacks where attackers drained thousands of dollars worth of tokens, but the Friend.Tech code itself was not exploited and no immediate risk is posed to users.
Jury selection has started in the fraud trial of FTX founder Sam Bankman-Fried, who is accused of defrauding thousands of people and using their money for personal use, including risky trades and political contributions.
Blockchain analytics firm Chainalysis has laid off 15% of its workforce, citing the need to reduce expenses amid challenging market conditions in the crypto industry.
Major cryptocurrencies experienced a decline due to a surge in the U.S. 10-year yield, while interest rates continued to rise driven by strong manufacturing data and the possibility of more rate hikes in the future.
The collapse of crypto exchange FTX was influenced by the philosophy of effective altruism, leading to increasingly risky and bizarre actions justified under the ideology, according to a former software engineer at Alameda Research. The founder, Sam Bankman-Fried, believed in and espoused the principles of effective altruism, which contributed to the company's downfall. Bankman-Fried's commitment to his allegedly altruistic motives may be why he maintains his innocence despite substantial evidence against him.
Wall Street Veteran: Fed Rate Hikes Make Rich Corporations Richer While Poor Suffer More Debt Burden
The Federal Reserve will continue to raise interest rates as inflation resurfaces, according to Wall Street investor Caitlin Long, with big corporations benefiting while other sectors of the US economy are already in recession.
Bitcoin surged to a two-month high, reaching $28,451, and crypto-related stocks, including Coinbase and Riot Platforms, also saw significant gains.
Chainlink (LINK) is considered a solid long-term play in the crypto market due to its potential for significant gains once it breaks out of its accumulation range, according to an influential trader.
Sam Bankman-Fried, founder of FTX, agreed to pay Tom Brady $55 million for 20 hours of his time yearly, forming a close friendship despite their differing interests, but Brady was personally affected by FTX's collapse.
The trial of Sam Bankman-Fried serves as a warning to crypto traders to exercise caution in the current market.
UBS Asset Management has announced the launch of its first live pilot of a tokenized Variable Capital Company (VCC) fund, using its in-house tokenization service called UBS Tokenize, in an effort to enhance market liquidity and provide better market access for their clients.
Approximately $26 million worth of ETH from the $600 million attack on FTX's wallets has now been moved through privacy tools and bridges, with some funds ending up at the Thorchain bridge and Railgun privacy wallet, deepening the mystery surrounding the exchange's collapse last year.
The prices of Bitcoin and Ethereum surged in a 15-minute window, leading to bullish predictions for the rest of October, with over $70 million in crypto shorts being liquidated as a result.
Ross Ulbricht, the founder of the Silk Road online black market, marked 10 years in prison and expressed fears about spending the rest of his life behind bars, sparking a debate between his supporters and those who believe the punishments given to him were just.
Amazon has made a strategic investment of up to $4 billion in AI company Anthropic, positioning itself as a competitor against Microsoft, Meta, Google, and Nvidia in the AI field, while also gaining access to Anthropic's AI models and Amazon Web Services' computational power.
