This week, we cover:
- Legal backlash against FTX’s ex-CEO Sam Bankman-Fried over alleged fraudulent activity. Along with co-founder Gary Wang and former senior executive Nishad Singh, Bankman-Fried is accused of being aware of the insolvency of Alameda Research during the acquisition of the stock clearing platform, Embed.
- Jump Trading’s alleged near $1 billion profit from bolstering TerraUSD (UST) amid its de-pegging from the U.S dollar, as revealed in fresh SEC filings.
- Ripple’s legal victory as a judge denies the SEC’s motion to seal documents related to a 2018 speech by former Division of Corporate Finance Director, Bill Hinman. In his speech, Hinman stated that he did not view Bitcoin and Ether as securities.
- Tether’s announcement that it will allocate 15% of its net profits to buy Bitcoin, aiming to diversify and strengthen its reserves.
- The SEC stands firm against Coinbase, asking the court to reject the crypto exchange’s plea to expedite rulemaking on cryptocurrencies.
- The SEC’s assertion that Filecoin, a token used in a blockchain-based decentralized storage network, “meets the definition of a security,” which Grayscale contests.
- The possible revelation of Bitcoin founder Satoshi Nakamoto’s stance on NFTs, triggered by the resurfacing of old Bitcointalk posts.
- Celsius navigates Lido withdrawals amid asset auction turmoil, as the bankrupt crypto lender reportedly transferred its staked ETH to another wallet.
- BlockFi escalates its bankruptcy proceedings, focusing on its commercial claims against FTX and Alameda.
- Voyager Digital commences its liquidation process with customers set to recover around 35% of their cryptocurrency deposits.
- The passing of the Markets in Crypto Assets regulation (MiCA) by the Council of the European Union, which requires crypto institutions to get licensed to operate across the bloc and sets reserve standards for stablecoin issuers.
