Regulation
After a cross-examination that seemed to make headway, the prosecution batted away doubts about Nishad Singh. Plus, Sam Bankman-Fried’s cell phone revealed connections to high-powered politicians in New York.
Business
The decision to phase out the blockchain-based rewards program has led to a sharp decline in token values and ignited strong reactions from the Reddit community.
Federal Reserve Governor Michelle Bowman sees more risks than rewards in potentially issuing a U.S. central bank digital currency.
Dollar deposits on the crypto exchange are also no longer insured by the FDIC, according to the updated terms of use.
The FTX bankruptcy estate announced a major milestone in their efforts to reimburse creditors of FTX.com and FTX.US as early as the second quarter of 2024.
DeFi
The entity behind the decentralized exchange plans to charge a flat fee on a limited set of tokens to “sustainably fund operations.”
Nishad Singh’s described an organization that allegedly defrauded FTX customers and Sam Bankman-Fried’s dismissiveness toward senior managers who expressed concerns about the firm’s balance sheet.
Crypto scams seem to be getting more savvy and sneaky, ensnaring even the likes of Vitalik Buterin as well as retail investors. But hackers aren’t just experts on crypto – they have a deep understanding of human behavior.
Last week, the Financial Conduct Authority (FCA) restricted the promotional partner Binance had selected to help comply with new regulations.
The USDT stablecoin issuer was working with law enforcement to crack down on the illicit use of crypto to fund terrorism and war.
