Business
Sam Bankman-Fried’s investment in the AI startup that’s raising $2 billion in funding is irrelevant to his FTX fraud, say prosecutors.
If Judge Lewis Kaplan acts in line with the common practices of the United States District Court for the Southern District of New York, FTX insiders Gary Wang, Caroline Ellison, and Nishad Singh may be spared prison time.
The crypto developer platform mistakenly transferred funds from the Treasury to a GTC token contract.
DeFi
The Friend.tech inspired protocol said it had secured the funds to close a $3 million gap caused by an exploit.
While the defense continues to irritate Judge Kaplan, FTX co-founder Gary Wang testified that, just a few months after launch, SBF directed others to give Alameda Research special status on the exchange.
Funding dropped 36% compared to the second quarter, continuing its downward trend, according to a new Messari report.
NFTs
The NFT powerhouse, which closed a $450 million seed round in 2022, became the third high-profile crypto company this week to have layoffs.
Tech
The unknown hacker, who drained $600 million from FTX after its bankruptcy, was making trades on the decentralized crypto exchange.
The decentralized exchange said it would temporarily transition to maintenance mode to address the movement of illicit funds on the platform.
Regulation
Reporting from inside Sam Bankman-Fried’s criminal trial: Former FTX software developer Adam Yedidia, Paradigm co-founder Matt Huang, and FTX cofounder Gary Wang took the witness stand.
