Adam Yedidia, a former developer at FTX, testified regarding his knowledge of the crypto exchange’s use of funds, claiming “Alameda had used customer deposits to pay its loans.” On the third day of the criminal trial for Sam “SBF” Bankman-Fried, the former CEO’s roommate at MIT and FTX developer Adam Yedidia testified about the $8-billion…
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Talking to Cryptonews, crypto expert Peter Eberle discussed the potential for crypto exchange-traded funds (ETFs), the impact of the Grayscale-US SEC battle, the current state of crypto investments, and the relevance of regulatory clarity in the space. Eberle is the President and Chief Investment Officer of Castle Funds, an investment firm that has been managing…
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London-based cocoa broker Marc-Antoine Julliard responded to questions from prosecutors on crypto he held on FTX in November 2022. The prosecuting attorneys in the criminal case against former FTX CEO Sam Bankman-Fried, also known as SBF, have started to call witnesses. According to an Oct. 4 X (formerly Twitter) thread by Inner City Press, the…
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Although Eastern Asia – once a top market – has seen a decline in crypto activity over the past several years, Hong Kong may provide the region with “a potential tailwind,” according to research firm Chainalysis. While Hong Kong is rising as a global leader in the regulated digital asset market, it’s still unclear what…
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Shark Tank investor Kevin O’Leary, aka Mr. Wonderful, has expressed concerns that regulatory obstacles will drive crypto innovation away from the U.S. His comments followed a congressional hearing where Congress members grilled U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler over crypto regulation. O’Leary Expects Crypto Innovation to Leave the U.S. Shark Tank investor…
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According to reports from the courthouse, Assistant U.S. Attorney Danielle Sassoon named Caroline Ellison, Gary Wang and Nishad Singh among those who may offer testimony. Many former executives with cryptocurrency exchange FTX or its sister companies are on the list to testify in the United States Justice Department’s criminal case against Sam “SBF” Bankman-Fried. During…
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According to Deputy Treasury Secretary Wally Adeyemo, the sanctioned wallets “received millions of USD funds over hundreds of deposits” used for illicit drugs. The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury has sanctioned crypto wallets allegedly connected to individuals and companies involved in the production of fentanyl. In…
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Sam Bankman-Fried’s legal team has requested the court block certain witnesses offering testimony on how they thought FTX would protect their assets. The criminal trial of former FTX CEO Sam Bankman-Fried (SBF) is currently underway in New York, and his legal team has filed motions aiming to ban testimony from users and investors in the…
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The U.S. Securities and Exchange Commission (SEC) and several other top financial regulators have issued several warnings regarding investing in crypto assets as part of this year’s World Investor Week. “The risk of loss for individual investors who participate in transactions involving crypto assets, including crypto asset securities, remains significant,” the regulators stressed. Crypto Warnings…
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The dropping of the suit came amid Terra facing a lawsuit brought by the U.S. Securities and Exchange Commission and Do Kwon possibly nearing the end of his sentence in Montenegro. A group of investors behind a class-action lawsuit against Terraform Labs and its co-founder Do Kwon over fraud allegations have dropped the case. In…
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