The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is in the home stretch. Both parties had filed their more than 60-page reply briefs for summary judgment on Nov. 30. Now it’s wait-and-see for the parties involved until Judge Analisa Torres issues a decision. Meanwhile, the spotlight is on the LBRY
Month: December 2022
The recent bankruptcy filing of Bitcoin (BTC) miner Core Scientific, despite a $72 million relief offer from creditors, raised questions about the overall health of the Bitcoin mining community amid a prolonged bear market. It turns out, the public Bitcoin miners owe more than $4 billion in liabilities and require an immediate restructuring to get
Yield farming, liquidity mining, and staking have become common practices in the crypto market due to the remarkable growth the DeFi ecosystem has witnessed in recent years. These features enable users to earn interest on their crypto holdings by locking them as deposits for specific periods. The concepts sound appealing but there’s one big risk:
The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S. Congress in 2021, were to be imposed in 2023. Crypto Brokers Told to Comply With
The momentary arrest of former FTX CEO Sam Bankman-Fried (SBF) can be attributed to the efforts taken by the crypto community to aid investigations and track down the whereabouts of the infamous entrepreneur. While SBF eventually escaped prison time via a $250 million bail bond, the community continues to monitor his every move publicly. Just
After a lackluster rise of crypto in 2021, which saw many new crypto millionaires and several crypto startups attain unicorn status, came the dramatic fall in 2022. The industry was plagued by macroeconomic pressures, scandals and meltdowns that wiped out fortunes virtually overnight. As 2022 comes to a close, many crypto proponents are perplexed about
A strategist at global investment bank JPMorgan says crypto is effectively nonexistent as an asset class for most large institutional investors. “The volatility is too high, the lack of an intrinsic return that you can point to makes it very challenging,” he added. JPMorgan on Institutional Crypto Investing JPMorgan Asset Management’s head of institutional portfolio
The ongoing legal proceedings around former FTX CEO Sam Bankman-Fried (SBF) took a new turn as District Judge Ronnie Abrams withdrew her participation from the case. The United States District Court for the Southern District of New York recused itself from the FTX case after revealing that a law firm — which employs Abrams’ husband
Top Stories This Week SBF sent home after his parents put up their house to cover his astronomical bail bond Sam Bankman-Fried will spend the holidays with his family in Palo Alto, California, after his parents secured $250 million in bail funds with the equity in their home. Among the conditions of the bail are
Following FTX co-founder Sam Bankman-Fried’s arrest and the statements from his co-workers Gary Wang and Caroline Ellison, the spotlight has turned on the remaining executives who were part of the team’s inner circle. Another person people are curious about these days is Alameda Research’s ex-co-CEO Sam Trabucco. The 30-year-old executive left Alameda in Aug. 2022,
Ripple remains belligerent against the U.S. Securities and Exchange Commission (SEC). Both CEO Brad Garlinghouse and general counsel Stuart Alderoty wrote tweets denouncing the SEC’s double standards. Garlinghouse tweeted a meme in reference to recent scandals at banking giant Well Fargo. The meme shows DC Comics superhero Batman slapping his sidekick Robin. The latter’s speech
From Terra to FTX, 2022 has given us many weird crypto stories. While investors have been enduring a bear market that saw the crypto industry sink below the $1 trillion market capitalization mark, adoption in the space has been growing, and old mysteries were finally solved. From the incredible short squeeze of a bankrupt company’s
Bitcoin (BTC) entered the Christmas holiday period unchanged at $16,800 as an eerie lack of volatility persevered. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hopeful price target sees Bitcoin at $17,400 Data from Cointelegraph Markets Pro and TradingView confirmed another day of an almost imperceptible range for BTC/USD just below $17,000. The pair had struggled
Password management service LastPass was hacked in August 2022, and the attacker stole users’ encrypted passwords, according to a Dec. 23 statement from the company. This means that the attacker may be able to crack some website passwords of LastPass users through brute force guessing. Notice of Recent Security Incident – The LastPass Blog#lastpasshack #hack
The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. The research will continue next year with the regulator planning to make a decision whether to proceed to the realization of the project in the fall of 2023. ECB to Develop
Defunct crypto exchange FTX paid a retainer of $12 million to bankruptcy lawyers as security for payment of its fees and expenses amid Chapter 11 bankruptcy proceedings, shows a court filing dated Dec. 21. Sullivan & Cromwell LLP (S&C), a law firm headquartered in New York City, received $12 million from West Realm Shires Services
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