Day: 22 December 2022

On Wednesday, the U.S. Securities and Exchange Commission (SEC) filed a complaint stating that FTX's exchange token, FTT, was sold as an investment contract and is considered a "security." This move is expected to have significant implications for the industry. According to the SEC's complaint, "If demand for trading on ...

Caroline Ellison, the former CEO of Alameda, has been granted bail by the United States Department of Justice after pleading guilty to criminal charges related to the collapse of FTX. Ellison is facing a total of seven charges, including wire fraud, conspiracy to commit commodities fraud, and securities fraud. According ...

The United States Securities and Exchange Commission (SEC) has announced plans to increase oversight of audit firms that work with cryptocurrency companies. In an interview with the Wall Street Journal, Paul Munter, the SEC's acting chief accountant, warned investors to be cautious about the claims made by cryptocurrency companies.  The ...

Sam Bankman-Fried (SBF), the founder of the now-bankrupt cryptocurrency exchange FTX, has finally arrived in the US. He is set to appear in a New York City court later today, where he will face charges that could result in a prison sentence of up to 115 years if convicted on ...

The cryptocurrency market has remained stagnant, with Bitcoin stuck below the $17,000 mark and showing minimal movement. Earlier this week, Bitcoin experienced a significant correction as its value plummeted to a three-week low of $16,300, and this trend is also reflected in other altcoins.  However, one exception to this trend ...

On December 12, 2022, Samuel Bankman-Fried (SBF), the former CEO of the now-bankrupt FTX Group, a cryptocurrency derivatives exchange, was arrested in the Bahamas. This news came just one day before he was set to testify before the House Financial Services Committee in Washington, D.C. Bankman-Fried was a highly respected ...

FTX, one of the largest cryptocurrency exchanges in the world, filed for bankruptcy last month. The collapse of the exchange caused millions of dollars to be wiped from the cryptocurrency market and had a contagion effect on affiliated firms.  Former CEO Sam Bankman-Fried was arrested in the Bahamas last week ...

The United States Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) have brought new fraud allegations against Caroline Ellison, former CEO of Alameda Research, and Gary Wang, former co-founder of FTX.  This follows the duo's guilty plea to federal fraud charges brought by the U.S. Department of ...

Layer 2 activity has seen significant growth and has even surpassed Layer 1 Ethereum activity in certain performance metrics, such as transactions per second. Compared to Ethereum, Layer 2 networks have a higher total number of transactions per second (TPS).  However, this does not necessarily reflect overall activity on those ...

The California Department of Financial Protection and Innovation (DFPI) has ordered the cryptocurrency lending platform MyConstant to halt the sale of its various cryptocurrency products due to alleged violations of state securities laws.  The DFPI alleges that MyConstant's offering of interest-bearing cryptocurrency accounts and peer-to-peer loan brokering services violated the ...