The Securities and Exchange Commission charged eight people today in a $100 million securities fraud scheme in which they manipulated exchange-traded stocks using the social media platforms Twitter and Discord. Fake Gurus According to the SEC, seven of the defendants…
Jack Dorsey is Advocating For A Decentralized Twitter Alternative.
Former Twitter CEO Jack Dorsey stated that making a platform resistant to corporate or government control is a solution to Twitter’s censorship issues. Resistant to Corporate Control Dorsey highlighted some potential solutions to the Twitter platform’s current problems in a…
Bahamian Securities Regulator Chastises FTX CEO For Making Misstatements
The Bahamas Securities Commission has chastised FTX’s new CEO for his comments about the ongoing investigation into the bankrupt cryptocurrency exchange. The Bahaman regulator, in a press release did not directly address the specific statement of John J. Ray III…
SBF Wants to Start New Business to Repay Aggrieved FTX Investors
With over a million FTX creditors owed up to $50 billion, FTX’s former CEO has expressed interest in starting a business to repay them all. Repaying Aggrieved Customers The founder and former CEO of the bankrupt cryptocurrency exchange FTX have…
Paxful CEO Promotes Self-custody and Warns Against Crypto Exchanges
While some executives chose to double down on ensuring the security of funds on their platforms, Ray Youssef, CEO of crypto exchange Paxful, backed the idea of self-custody. Case For Self-custody The case for self-custody strengthens as investors demand proof…
South Korea Central Bank Pushing For Stablecoin Regulation
The Bank of Korea (BOK) has stated that it is seeking increased statutory authority to regulate stablecoins. BOK revealed its position in a report published on December 11 as part of its efforts to control the growing digital asset industry.…
Ripple Whale Moves $143M Despite XRP and Ripple Uncertainty
Confidence in the midst of constant turbulence is unusual, but not for Ripple [XRP] whales. One of these large investors demonstrated confidence in the network by transferring 143 million XRP. This token movement was worth $55.96 million, according to Whale…
Crypto Firm Amber Group Ends $25M Chelsea Deal Due to Bearish Conditions.
The bearish trend in the cryptocurrency market is precipitating job losses and biting cash crunches. The overall decline is affecting crypto assets and firms in various ways. Following the demise of the FTX crypto exchange, many individual and institutional investors…
Sam Bankman-Fried Secretly Funded Crypto News Site, The Block
According to Axios, The Block, a media company that claims to cover crypto news independently, has been secretly funded for more than a year with money funneled to The Block’s CEO from the disgraced Sam Bankman-Fried’s crypto trading firm. Credibility…
Leading US Bank to Cut $10 billion from Crypto-Related Deposits
As volatility grips the digital asset sector, it has been reported that Signature Bank, a prominent US financial institution, will reduce the dollar amount of deposits linked to cryptocurrencies by approximately $10 billion. 23% Of Deposits Targeted At an investor…