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Day six of the trial of Sam Bankman-Fried saw the conclusion of former FTX chief technology officer Gary Wang’s testimony and the beginning of former Alameda Research CEO Caroline Ellison’s. Wang testified about his plea deal, among other things.According to Inner City Press on X (formerly Twitter), Assistant United States
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Former FTX CEO Sam “SBF” Bankman-Fried watched from the defense table as his former business associate and girlfriend Caroline Ellison testified at his criminal trial.According to reports from the courtroom on Oct. 10, Ellison admitted to fraud during her time at Alameda at Bankman-Fried’s direction. The former Alameda CEO reportedly
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The Financial Conduct Authority (FCA) of the United Kingdom has placed restrictions on peer-to-peer lending platform Rebuildingsociety, the firm with which crypto exchange Binance partnered for compliance with the regulator’s marketing regime. In an Oct. 10 notice, the FCA said Rebuildingsociety was not authorized to “approve the content of any financial
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Crypto exchange Binance has frozen accounts linked to Hamas militants as per requests from Israeli law enforcement.According to an Oct. 10 WeChat post by Yi He, the exchange’s co-founder, the freeze is targeted toward Hamas and not the people of Palestine. As stated by He:“Hamas is a designated terrorist organization
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Street vendors abound in downtown Manhattan’s Financial District. But weeks ago, on Sept. 14, an especially unconventional seller set up shop in front of the United States Securities and Exchange Commission (SEC), transforming a patch of Maiden Lane into a colorful quilt of doormats, each spray painted with the straightforward
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The second week of the criminal trial for former FTX exchange CEO Sam “SBF” Bankman-Fried continues on Oct. 10, with all eyes on the testimony from key witness Caroline Ellison. Ellison is a former romantic partner of SBF and the former CEO of the FTX-affiliated hedge fund Alameda Research, which also
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Beyond Binance’s own commitment, the IRI garnered an additional $100 million in contributions from 18 organizations by February 2023. A recent report from Bloomberg suggests that the $1 billion Industry Recovery Initiative (IRI), launched by Binance has fallen short of expectations, with only 2.7% of the committed funds deployed. The Industry Recovery
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Major cryptocurrency exchange operator OK Group continues transforming its business, rebranding its crypto ventures under the single name “OKX.”Hong Fang, chief operating officer at OK Group and president of OKX, took to X (formerly Twitter) to announce that Okcoin will be rebranding to OKX over the coming months. Founded in
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Sam Bankman-Fried’s legal team is looking for permission to probe the alleged involvement of FTX lawyers in the issuance of $200 million worth of loans from Alameda that were approved by Gary Wang.As previously reported in the build-up to the highly anticipated trial, an Oct. 1 court ruling provisionally barred
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One of the friendliest European jurisdictions to crypto, Cyprus, might bring its industry regulation to tighter standards. According to an Oct. 10 report by the Cyprus Mail, the local Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering Law. The ministry has presented its amendments package
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