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The book says Jump was “near the top” of the list of FTX’s 50 “biggest accounts whose owners had been unable to remove their money from the crypto exchange,” Lewis wrote. Jump Trading lost $206 million while its affiliated trading firm, Tai Mo Shan Ltd., lost more than $75 million,
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We should caveat this with a few hugely important details: almost no one outside of publisher Norton or Lewis’ circle has read the book, which publishes tomorrow, coinciding with the start of Sam Bankman-Fried’s trial, where the disgraced founder is set to plead not guilty to multiple counts of fraud.
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“Even his best friends, inside the company said, ‘Sam is just not built to manage people,’” Lewis said, adding that Bankman-Fried didn’t know the names of other members of the board of directors, and appears to have viewed their role as mere rubber-stamping. Original Source
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Curve founder Michael Egorov has deposited 68 million CRV tokens ($35 million) to settle his entire debt position on DeFi lending platform Aave, according to blockchain analytics firm Lookonchain. Source
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Federal Reserve’s Michael Barr highlights the risks of unregulated stablecoins, emphasizing the need for robust federal oversight in the evolving digital currency landscape. Michael Barr, the Federal Reserve’s leading authority on banking oversight, has voiced robust concerns regarding stablecoins operating outside the oversight of federal regulation. While Federal Reserve officials have articulated
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A judge ruled a California courtroom is the wrong venue since Egorov wasn’t living in the state when the alleged misdeeds took place. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Basketball legend Michael Jordan’s net worth stands at $3.5 billion and is currently higher than the entire NFT market, which was valued at over $15 billion just two years ago. Basketball icon Michael Jordan, often heralded
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Michael Burry, famous for predicting the 2008 crisis, stuns the market with a massive bet against the S&P 500 and Nasdaq 100. But will it affect crypto? Remember Michael Burry? If you’ve watched or read “The Big Short,” his name echoes as the audacious maverick who bet against the US housing
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During a recent podcast interview, MicroStrategy’s Michael Saylor expressed the opinion that large corporations purchasing and then proceeding to centralize Bitcoin (BTC) should not be a cause for concern.While speaking to Natalie Brunell on the Coin Stories podcast, released on Aug. 7, Saylor emphasized the inevitability of third-party and corporate
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Saylor had begun purchasing bitcoin for MicroStrategy’s balance sheet in August 2020, fueling its stock rally alongside bitcoin in 2020 and 2021. Taking a wider view, Saylor this week pointed out that MicroStrategy’s share price is up 254% since he first began making bitcoin purchases, well ahead of the Nasdaq’s
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