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2024-05-07

Popular crypto exchanges(2023 Update) 2024-05-07
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The presenter mentioned Nishad Singh, another early hire at Alameda, as one of the people to testify against SBF. Singh served as the director of engineering at Alameda before becoming the head of engineering at FTX after it launched. The Altcoin Daily host noted that Singh was one of the three people who controlled the keys to FTX’s marching engine. In February, Singh pleaded guilty to six criminal charges, including fraud and conspiracy. Image Source: YouTubeFormer FTX boss Sam Bankman-Fried had written a draft Twitter thread to announce the possible closure of his hedge fund Alameda Research. The thread, which was drafted in September 2022, reveals that Bankman-Fried considered announcing the closure of Alameda Research, the trading firm he co-founded, just two months before the collapse of FTX.During the trial, FTX co-founder Gary Wang testified that Bankman-Fried was anxious about an upcoming article that would expose the close ties between FTX and Alameda Research. Bankman-Fried Praises Alameda in Draft ThreadIn the thread, Bankman-Fried praised Alameda Research as a crucial player in the ecosystem, acting as "a buyer when no one else is ready to buy–when markets are wild and volatile and prices are crashing and capital is scarce." He also commended Alameda's achievements after his departure, emphasizing its role as a significant global source of liquidity and guidance for the industry.However, Bankman-Fried acknowledged Alameda's biggest failure in the draft thread, which was losing track of millions of dollars' worth of Ripple tokens due to accounting negligence in February 2018. "In February 2018, we got lazy–and our accounting was lazy–and we lost most of what we'd made," Bankman-Fried wrote."Employees were sad and angry and frustrated, and I had no idea what to do about that."Bankman-Fried used the thread as an opportunity to address the narrative propagated by competitors that Alameda and FTX had excessively close ties. He dismissed the claims as distractions from their competitors' own problems, emphasizing that they were not true. Interestingly, Bankman-Fried's plan to wind down Alameda Research was halted due to the firm's significant debt of $14 billion owed to FTX. Wang testified that when he informed Bankman-Fried about the inability to shut down Alameda, Bankman-Fried simply acknowledged the situation.The draft thread concludes with the hypothetical statement, "Alameda Research is dead. Long live FTX." However, Bankman-Fried never executed the closure of Alameda as planned.Wang Concludes Testimony on Day Six of TrialOn day six of the trial, Wang concluded his testimony and once again admitted to committing crimes with Bankman-Fried.Last week, Wang confessed that he and former FTX boss Sam Bankman-Fried committed wire fraud. He revealed to the jury that he and Bankman-Fried engaged in financial crimes and deceitful practices that ultimately led to the collapse of the cryptocurrency trading platform.As the chief technical officer at FTX and a co-owner of Alameda Research, a cryptocurrency hedge fund founded by Wang and Bankman-Fried in 2017, Wang admitted to committing wire, securities, and commodities fraud. He disclosed that the duo illegally withdrew a staggering $8 billion from FTX funds through Alameda Research. Wang further claimed that Bankman-Fried directed these illicit actions.Rise in Chinese Banks Issuing Digital Yuan Corporate Loans list of cryptocurrenciesInconsistency: The regulatory landscape for cryptocurrencies and stablecoins is rapidly shifting. Hong Kong authorities are wary of making decisions in the absence of established international standards or consensus on retail stablecoin regulation. They intend to avoid regulatory arbitrage and to guarantee that any framework adheres to global best practices. The RSI has traded very close to the 50 trendline since August (green circle), indicating an undetermined trend.

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Crypto Funding Woes Continue in Q3 2023 On the other hand, the crypto community perceives Ethereum as a decentralized computer because it powers thousands of decentralized applications (dApps). Based on industry metrics such as market capitalization, unique wallet addresses, and daily trading volume, Bitcoin and Ethereum represent the two most prominent cryptocurrencies. Illustratively, the combined market value of BTC and ETH greatly exceeds half a trillion dollars. Top Places To Buy Ethereum (ETH) With PayPal in ...Blockchain research firm Elliptic says the amount of funds laundered through cross-chain and cross-asset services reached a ten-figure sum in July this year. Silva noted that while cross-examination is an opportunity for the defense to score points with the jury, employing a strategy of "death by 1,000 cuts" may not be effective.

Friend.tech gained viral attention following its launch back in August. This buzz did not go unnoticed, leading to a ripple effect of emerging platforms eager to capitalize on its success and harness the potential of social finance, or SocialFi. After the fork, a Nouns proposal went live that would burn, or liquidate, part of the Nouns treasury at given intervals if a sufficient amount of ETH was not spent, in essence forcing the DAO to regularly spend its treasury. Part of the rationale for the proposal outlined in a blog post was to eliminate the arbitrage opportunity by spending down the Nouns treasury and thus lowering the book value of each Noun. Where to buy, sell and trade XRP in the USA in 2023-Buy Ripple in the US!Seven reputed companies are actively developing blockchain games. “The fact that an asset satisfies these interim terms and conditions should not be viewed as an endorsement or approval of the asset, nor give any indication that the asset is risk-free,” the CSA warned.Binance brokers like Nominex continue to serve Russia

Daily chart for ETC/USDT (Source: TradingView) Conversely, this strategy from Riot — shutting down a large portion of their operations in Texas — also likely contributed to its 14% decrease in realized hashrate last quarter, according to data from TheMinerMag. Questions on Virtual Currency|Office of Foreign Assets ControlAccording to Kaiko experts, ETH's underperformance is most likely due to the ongoing impact of the bear market, which has historically seen investors turn to BTC, the oldest and largest crypto asset. ETH spot trading volume has remained mostly stable over the past two months, rising above $2 billion only a handful of times. A tokenized loan worth $20 million soured in a lending pool on decentralized lending platform Goldfinch after borrower Stratos’ bets on a real-estate tech company and digital asset investments “has not performed as expected,” pool manager Warbler Labs said Saturday in a protocol governance forum post.

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