Crypto

A collection of 62 posts

tether

Tether wants to back USDT by buying Bitcoin

Per CNBC Tether, the crypto giant behind USDT, the most popular stablecoin, said that it would be buying Bitcoin to back its stablecoin. The amount that they would spend is roughly around $222 million. For those that don't know, USDT isn't just the most popular but

shaq

Shaq tries to dismiss the FTX lawsuit citing how the summon papers were "tossed" at his moving car

Per BI Shaquille O'Neal was among some of the most popular celebrities that were also caught up in legal issues due to their promotion of FTX. The former NBA player is now trying to dismiss the FTX lawsuit, citing how the summon papers were "tossed" at

warren buffett

Warren Buffett says there's a lot of gambling in the marketplace, adding that 'Bitcoin is a gambling token'

Per CNBC In a recent CNBC interview with Warren Buffett, the Berkshire Hathaway CEO shared his thoughts on the market, saying it is now full of gambling. He also called Bitcoin a "gambling token." Buffett argued that Bitcoin didn't have intrinsic value and that its properties

treasury

US Treasury gives DeFi warning, saying it poses 'the most significant current illicit finance risk'

Per Coin Desk The US Treasury has released its "2023 DeFi Illicit Finance Risk Assessment" and gave its two cents regarding DeFi. The post discussed the risks that could be associated with decentralized finance. Brian Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, gave a

fbi

FBI struggles to analyze SBF's laptop due to data overload

Per BI While still being investigated, prosecutors are saying that they are struggling to analyze Sam Bankman-Fried's laptop due to the amount of data it contains. Nicholas Roos, the Assistant US Attorney, shared how it would take weeks to extract Slack messages alone from the laptop. Roos

kraken

Kraken signs multi-year sponsorship deal with F1 team Williams Racing

Per Coin Telegraph For the first after the whole crypto fiasco with crypto exchanges like FTX going bust, a Formula 1 team is finally opening up again to crypto sponsorships despite the wake of multiple crashes across the market. Williams Racing F1 team has accepted a sponsorship partnership and Web3

sbf

Sam Bankman-Fried is charged with paying $40 million in bribes to at least one Chinese gov't official

Per NBC News Sam Bankman-Fried faces multiple charges related to the collapse of the now-bankrupt FTX. The latest charge is bribery, with the accusations saying he paid $40 million to at least one Chinese gov't official. Indictment documents accused SBF of successfully bribing a Chinese government

ftx

FTX lawyers cost the disgraced crypto firm $38 million for Jan alone, with new CEO John Ray III billing $305,565 for Feb

Per BI After the collapse of FTX, the disgraced crypto firm had to employ hundreds of lawyers, consultants, and accountants, among others, to investigate what happened. In January alone, the crypto firm was billed $38 million for the services of the hundreds hired. CoinDesk cited court records showing how law

ftx

FTX paid Sam Bankman-Fried a total of $2.2 billion in total through related entities

Per Reuters As the investigation of what went wrong with FTX continues, the new management found that Sam Bankman-Fried received a total of $2.2 billion in transfers from related entities. It was noted that overall, $3.2 billion was transferred to founders and key employers. The transfers weren&

bridgewater

Bridgewater's Ray Dalio: "Bitcoin has no relation to anything. It's a tiny thing that gets disproportionate attention"

Per Coin Telegraph Bridgewater founder Ray Dalio has given a statement regarding Bitcoin, saying it doesn't have any relation to anything. Dalio says that the attention that it gets is too big for its size. On Feb 2, Dalio gave a statement on Squawk Box, CNBC, regarding the

crypto.com

Crypto.com sues a woman for using the $10.5 million accidentally sent to her after she asked for a $100 refund

Per Decrypt An Australian woman asked Crypto.com for a $100 refund, and instead of being sent the exact amount, $10.5 million was sent to her account. Now, the company is suing her after she bought a luxury house and went on a spending spree. 7news shared how Crypto.

sbf

Prosecutors said SBF deleted tweets and a Slack message after being told to preserve FTX records

Per Business Insider Disgraced FTX founder Sam Bankman-Fried reportedly deleted tweets and a Slack message despite being told the complete opposite. This happened when SBF was reportedly told to preserve records for the regulators. The ongoing investigation's recent developments saw the founder receiving four new charges by

visa

Visa and Mastercard push back on crypto services, citing the need for better regulations and market conditions

Per Reuters Visa and Mastercard have decided to push back on their decision to offer crypto services. This comes as the two companies cite the need for improvement in terms of regulations and market conditions. The information reportedly came from people that were familiar with the topic but said that

watch

Top luxury watches outperformed stocks and crypto: Rolex, Patek Philippe, and Audemars Piguet

Per Bloomberg Some of the most luxurious watches were able to outperform stocks and crypto. These included Rolex, Patek Philippe, and Audemars Piguet, which only dropped by a mere 8% in 2022 compared to the S&P 500's 19% and Bitcoin's 65% drop. Eduard Aubin,

ftx

FTX's SBF gets four new charges as prosecutors said they created a no-employee company to get a bank account

Four new charges were filed against Sam Bankman-Fried, the disgraced founder of now-bankrupt FTX. The charges were related to how SBF created a company with no employees so that FTX.US could get a bank account in California. Initially, FTX couldn't get a bank account in

institutional traders

72% of institutional traders say they don't plan to touch crypto in 2023

Per Coin Telegraph Most institutional traders say they don't have plans to invest or trade crypto this 2023, per a JPMorgan study. 72% of institutional traders cite volatility and liquidity concerns, among other reasons. JPMorgan launched an e-trading survey to find out the plans of institutional traders

binance

Binance survey says being into crypto was considered an attractive relationship feature by 83% of respondents

Per Coin Telegraph A recent Binance study showed that the majority of respondents that it asked considered liking crypto as an attractive feature in a relationship. The survey included 2,600 participants, and 83% of them found that being into crypto was considered an attractive relationship feature. The survey was

north korea

North Korea-linked hackers stole $3.8 billion in crypto in 2022, with $775.7 million stolen in October alone

Per Reuters A new report highlights how much was stolen in crypto by hackers linked to North Korea in 2022. The highest number of incidents happened in $775.7 million stolen in October alone in 32 different attacks, but in total, $3.8 billion was stolen in 2022. A US-

gemini

Genesis and DGC reached an initial agreement with main creditors: equitization of a $1.1B 10-year promissory note to 3AC included

Per CoinDesk In the wake of FTX, Genesis, another crypto firm that also filed for bankruptcy, is entering an initial agreement with main creditors alongside the crypto firm's parent company, DGC (Digital Coin Group). The initial agreement includes restructuring plan terms. A source familiar with the story said

ftx

FTX Believed to have Over a Million Creditors: $3 Billion Collectively Owed to the Top 50 Alone

Per CNN While the lawsuit is still ongoing for Sam Bankman-Fried, the founder of FTX, who is facing multiple charges, including defrauding customers, new information has surfaced saying the top 50 creditors alone are owed $3 billion collectively. It was also revealed that the now-bankrupt exchange has over

sbf

SBF Barred From Using Signal to Contact Ex-Employees

Per Reuters FTX founder Sam Bankman-Fried is being charged with defrauding customers of his crypto exchange, among other charges, and now, he is no longer allowed to contact his former employees via Signal. The ban also includes contacting employees of his hedge fund, Alameda Research. The general ban is

celsius

Former CFO Said Celsius was Doing Things That Were 'Possibly Illegal'

Per The Block After the fall of FTX, other crypto firms filed for bankruptcy; recently, Celsius was one of them. While investigating its bankruptcy filings, the company's CFO admits that there could be things done that were "possibly illegal." Hamuri Urata-Thompson, Celsius CFO, worked at

ftx

Ex-White House Director of Communications Says His $10M Investment in FTX's Token FTX Dropped to Just $400K

Per Markets Insider Anthony Scaramucci, an American financier who has worked as a Director of Communications for the White House, said that his initial $10 million investment in FTX's key token has massively dropped in value. Now, his investment in the FTT token only got him $400,000.

blockfi

Bankrupt BlockFi had $1.2 Billion in Assets Tied to Sam Bankman-Fried

Per CNBC BlockFi previously filed for bankruptcy and was among the multiple crypto firms affected by the demise of FTX. Financial documents revealed that there was actually $1.2 billion in assets tied to Sam Bankman-Fried through FTX and Alameda Research. The company filed for Chapter 11 bankruptcy after

ftx

Brett Harrison, Former FTX US President, Raised $5 Million for Architect, a New Crypto Startup

Per Yahoo Finance After the collapse of FTX with its founder, Sam Bankman-Fried facing multiple charges and maintaining that he is not guilty, the former president of FTX US has already raised $5 million for a new crypto startup. Harrison raised new investment for a startup that will be