Bitfinex Report Examines Bitcoin’s Local Bottom Amid Market Rebound

August 14, 2024 Bitcoin.com

Bitcoin

Crypto exchange Bitfinex’s latest Alpha report examines various key metrics, providing insights into whether bitcoin may be approaching a local bottom. “Overall, these metrics underline the deep bearish sentiment and stress among short-term investors, which usually occurs at local bottoms,” the report states. Bitfinex Report Analyzes Bitcoin’s Rebound and Potential Local Bottom Crypto exchange Bitfinex […]

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Cornell Professor Warns of Growing Crypto Risks Amid Misleading Promises and Hype

August 11, 2024 Bitcoin.com

Binance

A professor at Cornell University’s Dyson School, Eswar Prasad, has raised concerns about the increasing risks in the cryptocurrency market, pointing to regulatory gaps and centralization as key issues. “If anything, crypto today presents even greater risks to its investors and to our financial institutions than it did before,” he said. Cornell Professor’s Crypto Warning […]

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US Court Orders Bankrupt Crypto Exchange FTX To Pay $12,700,000,000 to Former Customers and Fraud Victims

August 9, 2024 The Daily Hodl

US Court Orders Bankrupt Crypto Exchange FTX To Pay ,700,000,000 to Former Customers and Fraud Victims

Alameda

A US court has ordered bankrupt crypto exchange FTX to pay $12.7 billion in monetary relief to customers who suffered losses when the company collapsed in 2022. In a new statement, the Commodity Futures Trading Commission (CFTC) says the order requires FTX to pay $8.7 billion in restitution and $4 billion in disgorgement to further […]

The post US Court Orders Bankrupt Crypto Exchange FTX To Pay $12,700,000,000 to Former Customers and Fraud Victims appeared first on The Daily Hodl.

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US Court Orders FTX and Alameda to Pay Fraud Victims $12.7 Billion in Historic CFTC Recovery

August 8, 2024 Bitcoin.com

US Court Orders FTX and Alameda to Pay Fraud Victims .7 Billion in Historic CFTC Recovery

Alameda Research

A U.S. district court has ordered FTX and Alameda Research to pay $12.7 billion to fraud victims due to their misuse of customer funds and fraudulent practices. Ian McGinley, Director of the Commodity Futures Trading Commission’s Division of Enforcement, emphasized that this multibillion-dollar recovery is the largest recovery in CFTC history. FTX and Alameda Ordered […]

Hubpay, Aquanow Launch Regulated Crypto Payments in UAE

Bitwise exec says, ‘We’re not bullish enough,’ amid political sway to crypto

August 1, 2024 Coin Telegraph

Bitcoin 2024 conference

Bitwise’s Matt Hougan said the idea that US politicians are even considering Bitcoin as a reserve asset is a monumental step, given it felt more like a “daydream” a year ago.

After hearing several influential United States politicians embrace Bitcoin at the recent Bitcoin 2024 conference in Nashville, Tennessee, Bitwise’s chief investment officer Matt Hougan says he left with one big takeaway: “We’re not bullish enough.”

In a July 31 post, Hougan said several recent promises made by these US politicians have prompted him to “rethink what’s possible” with Bitcoin (BTC).

Among those promises were Republican Party candidate and former President Donald Trump’s plan to build a strategic national Bitcoin stockpile, Wyoming Senator Cynthia Lummis’ announcement of a Bitcoin reserve bill to clean up the country’s $35 trillion debt crisis and independent presidential candidate Robert F. Kennedy Jr.’s promise to make the US Treasury buy 500 Bitcoin per day until at least 4 million Bitcoin is reached.

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Judge grants ex-FTX exec’s request to postpone reporting to prison

July 30, 2024 Coin Telegraph

Coin Telegraph

Ryan Salame will have an additional 45 days of freedom after his lawyers said there were medical complications due to a dog bite.

A federal judge has granted a motion filed by lawyers representing former FTX Digital Markets co-CEO Ryan Salame to delay reporting to prison until Oct. 13.

In a July 30 filing by the United States District Court for the Southern District of New York, Judge Lewis Kaplan approved a motion allowing Salame to push his self-surrender date by 45 days as part of his sentence to 7.5 years in prison. Salame’s legal team requested the delay due to medical complications from a dog biting the former FTX executive’s face on June 29 while he was visiting a friend’s home.

The July 26 motion by Salame’s legal team redacted medical information related to his injuries but claimed that a German Shepherd “mauled” him, and he would require treatment and surgery before reporting to prison. He was initially going to report to prison on Aug. 29, roughly three months after being sentenced.

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FTX class action lawyers move to block Sullivan & Cromwell’s dismissal motion

July 30, 2024 Coin Telegraph

Coin Telegraph

Lawyers for FTX class action are challenging Sullivan & Cromwell’s dismissal request, claiming the law firm facilitated FTX’s fraudulent activities.

FTX’s class action lawyers have filed a motion opposing Sullivan & Cromwell’s effort to dismiss the lawsuit against them. The plaintiffs claim that Sullivan & Cromwell went beyond standard legal practices to actively facilitate FTX’s fraudulent activities.

The law firm, also known as S&C, is overseeing the FTX bankruptcy proceedings and served as outside counsel to the exchange in several deals.

According to court documents filed on July 29, S&C lawyers “were eager to craft not only creative, but misleading strategies that furthered FTX’s misconduct.” The plaintiffs requested the court to deny S&C’s motion to dismiss, allowing the case to proceed to discovery and trial.

Hubpay, Aquanow Launch Regulated Crypto Payments in UAE

Federal Reserve Ends Enforcement Action Against Crypto-Friendly Bank Silvergate After Levying $43,000,000 Fine

July 27, 2024 The Daily Hodl

bank

The Federal Reserve is ending its enforcement action against defunct crypto-friendly bank Silvergate after hitting the firm with a multimillion-dollar fine. In a new press release, the Federal Reserve says it’s dropping its enforcement action against the bank after it fulfilled its promise to liquidate its reserves and pay back all deposits to its customers. […]

The post Federal Reserve Ends Enforcement Action Against Crypto-Friendly Bank Silvergate After Levying $43,000,000 Fine appeared first on The Daily Hodl.

Hubpay, Aquanow Launch Regulated Crypto Payments in UAE

Ex-FTX exec asks for delay reporting to prison after dog attack

July 27, 2024 Coin Telegraph

Coin Telegraph

Ryan Salame was scheduled to report to prison on Aug. 29 after being sentenced to 90 months for charges related to the misuse of FTX user funds.

Lawyers representing former FTX Digital Markets co-CEO Ryan Salame have requested a 45-day delay before his prison reporting date due to medical complications from a dog biting his face.

In a July 26 filing in the United States District Court for the Southern District of New York, Salame’s legal team requested his self-surrender date to serve a 7.5-year sentence be moved from Aug. 29 to Oct. 13 “so that he may undergo urgent and necessary medical treatment and surgery.” The former FTX executive pleaded guilty to conspiracy to operate an unlicensed money-transmitting business and engaging in campaign finance fraud.

According to the filing, a German Shepherd “mauled” Salame” on June 29 while he was visiting a friend’s home. Portions of the request were redacted, but they included a physician’s visit on July 3 and recommendations for treatment on July 24 “after sustaining a dog-bite injury to the face.”

Hubpay, Aquanow Launch Regulated Crypto Payments in UAE

Crypto think tank launches voting project to support ‘right candidates’

July 24, 2024 Coin Telegraph

Business

The Digital Future project did not endorse specific candidates or political parties, but its CEO ran as a Republican in a 2022 congressional campaign associated with FTX.

Michelle Bond, the CEO behind a crypto-focused think tank in Washington, DC and the partner of former FTX Digital Markets co-CEO Ryan Salame, announced the launch of an initiative “to boost voter registration and crypto education” in the United States.

In a July 24 notice, crypto think tank Digital Future said it would initially target US voters in Arizona, Nevada, Wisconsin, Minnesota, Georgia, Michigan, Pennsylvania, and North Carolina as part of Project Swing. According to Digital Future, the voter project aims to “activate support for pro-crypto candidates” ahead of the 2024 election season, which is already in full swing nationwide.

Bond said in an X post that the project would help “ensure the right candidates are elected” related to policies on financial freedom. Cointelegraph reached out to Digital Future for comment but did not receive a response at the time of publication.

FTX

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