A former top executive of failed cryptocurrency trading platform FTX has pleaded guilty to criminal charges and is cooperating with federal prosecutors investigating the alleged billion-dollar fraud at the now collapsed exchange. Nishad Singh, the disgraced former director of engineering at FTX, has plead guilty to six heinous conspiracy charges, including conspiracy to commit wire … Read more
The bank believes that the tokens that power smart contract-enabled blockchain platforms will outperform meme coins and governance tokens. The cryptocurrency market is off to a much better start this year than anyone had expected. With the token universe up 42% year to date to $1.1 trillion, Bank of America said in a report on … Read more
Jump Crypto, the Chicago-based crypto arm of Jump Trading, played a pivotal role in developing the DeFi project Wormhole. This past weekend, they were able to successfully counter-exploit a hacker who had managed to steal $140 million worth of tokens from the Wormhole protocol. According to a recent blog post, Jump Crypto and Oasis, which … Read more
ADA, the cryptocurrency that powers Cardano’s smart-contract-enabled layer-1 blockchain protocol, is coming under pressure on Friday in tandem with broader cryptocurrency markets. ADA/USD was last changing hands in the $0.37s, down around 1.5% on the day, as the cryptocurrency is weighed by downside in US stocks and upside in the US dollar and yields in … Read more
The founder of the crypto trading platform FTX, Sam Bankman-Fried, is now facing four new criminal charges, as federal prosecutors allege that he was involved in a billion-dollar fraud. Bankman-Fried is already facing a number of charges, including wire fraud and securities fraud, and the new charges only increase his potential liability. The new charges, … Read more
Plans to establish Hong Kong as a leading crypto hub in Asia have been unveiled, with authorities set to set aside HK$50 million (US$6.4 million) to boost the city’s Web3 sector. The investment will be used to develop the city’s infrastructure and support the growth of local businesses in the blockchain and crypto industries. The … Read more
Lawyers for Sam Bankman-Fried agreed to pay for a security expert to help the federal judge overseeing his fraud case navigate technology issues as they seek to keep the FTX founder out of jail before his trial. The security expert will help the court understand the complex technology at the heart of Bankman-Fried’s case, and … Read more
A Russian economist believes that central banks will determine the fate of crypto, even if they are not currently prioritizing their regulation of the sector. Nikita Maslennikov, Director of Economy and Finance Projects at the Institute of Contemporary Development, recently made some insightful comments about the current state of the Russian economy. “The Russian economy … Read more
Bitcoin’s price has been on the rise, with a trading volume of $40 billion entering the market. The BTC/USD pair has declined less than 1% within the past 24 hours, currently trading at $24,372.00. Despite this recent dip, its value has seen a notable increase of over 11% within the last week. Bitcoin has been … Read more
A complaint by the SEC against Do Kwon and Terraform Labs revealed an unnamed trading firm helped Kwon restore UST’s $1 peg in 2021 in exchange for discounted LUNA tokens. The unnamed trading firm is said to have made a fortune by shorting UST in the months leading up to the restoration of the peg. … Read more
