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Adam Yedidia, Sam Bankman-Fried’s college roommate and an early employee of FTX, continued his testimony on Oct. 5, the second day of former FTX CEO Bankman-Fried’s trial in New York. Yedidia was testifying for the prosecution with immunity.Under examination by Assistant U.S. Attorney Danielle Sassoon, Yedidia told the court that
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SEC says billions in customer funds were directed to Zhao’s firm Merit Peak via a holding company called Key Vision Development Limited. Source
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Guangying Chen was authorized by the now bankrupt crypto lender Silvergate Bank to operate the accounts between 2019 and 2020, Reuters said. Binance.US had to ask Chen and her team to process payments, including the firm's payroll, according to the report, which also cited company messages. Source
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A group of four men controlled 86% of stablecoin issuer Tether Holdings Limited as of 2018, according to documents obtained by The Wall Street Journal in connection with United States authorities investigations.New York Attorney General and Commodity Futures Trading Commission probes into Tether in 2021 exposed its previously unknown ownership
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Documents reveal the previously unknown ownership structure of the secretive stablecoin issuer. Original Source
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Chatter about the solvency of Binance increased significantly after the collapse of FTX, and the exchange did suffer some outflows for a short period, though things have stabilized since. A market share this high could become problematic for the industry if Binance were to encounter any issues, whether regulatory or
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