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According to former Alameda Research CEO Caroline Ellison, a single tweet from Binance CEO Changpeng Zhao (CZ) contributed to the failure of cryptocurrency exchange FTX.Testifying in Sam “SBF” Bankman-Fried’s criminal trial on Oct. 12, Ellison reportedly placed part of the blame for the collapse of FTX on CZ’s social media
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Bitcoin price lost support yesterday at around $27,000 and is now below a critical level that the last two times it was
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Despite initial expectations of a robust rally, major cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and XRP have encountered a slowdown in momentum following
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The overall stablecoin market has witnessed a staggering 35% dip in the past year and a half. Terraform’s collapse last year and the subsequent fall of its native Terra USD (UST) stablecoin triggered a chain reaction, which caused the valuation of the stablecoin sector to shrink from $189 billion in May
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In a recent post, investor Chris Burniske expressed the belief that a bottom is looming for the top cryptocurrencies. Burniske predicts that
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“Following a thorough internal investigation, LedgerX has found no evidence that any of its employees were aware of any reported code enabling Alameda to take FTX customer assets, and firmly denies any contrary allegation," Miami International Holdings, LedgerX's new owners, said in a statement to the WSJ. Original Source
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“It pretty much seemed like business as usual, right up until the end. The days before the company collapsed, it just seemed like a few really busy days of trading,” Aditya Baradwaj, a former Alameda employee, said on CoinDesk TV. “We had no idea that anything was going on until
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The FTX app and terms of service both told customers that the money they put on the exchange was being kept for them "as if they were sitting right there" – but, in reality, Bankman-Fried diverted those funds to "smaller and secretive company" called Alameda Research and spent them on
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Crypto-friendly Silvergate Bank ultimately collapsed this year due to over-dependence on risky crypto deposits and nepotism that led to ineffective management, according to inspectors at the Federal Reserve.In a Sept. 27 executive summary of its review into the collapse of Silvergate Bank, the Federal Reserve Board’s Office of Inspector General
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A class-action suit was filed against Binance.US and Binance CEO Changpeng Zhao on Oct. 2 in the District Court of Northern California alleging various violations of federal and California law on unfair competition for attempting to monopolize the cryptocurrency market by harming its competitor FTX. The suit was brought by
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