Tag Archives: Exchange News

Sam Bankman-Fried – the former head executive of the now fallen crypto exchange FTX – has pleaded not guilty to all counts of fraud. This means his case will potentially be heard by a jury. Sam Bankman-Fried Says He’s Not Guilty During a recent testimony, Bankman-Fried refused to speak for himself. Instead, it was his lawyer Mark Cohen who entered the not guilty plea on his behalf. Bankman-Fried’s mother was in attendance and sitting behind her son as the judge who will...

A group of investors that filed a class-action lawsuit against popular digital currency exchange Coinbase are now withholding their account information as a means of preventing their case from moving into arbitration territory. They want to see their situation escalate to the American court system and placed before a judge. Could Coinbase Find Itself in Court? The customers allege that the security measures initiated by Coinbase against hackers and cyberthieves were weak...

Investors in the Gemini exchange in New York are suing the company and its founders – Cameron and Tyler Winklevoss – for fraud. Gemini Is Being Sued It is alleged in a class-action lawsuit that the company is in violation of the Exchange Act. A complaint was filed against Gemini and its creators in the US Southern District of New York, and it centers around the firm’s Earn Program, which offers as much as 7.4 percent interest to traders who take part in it. The program...

Popular digital currency exchange Kraken has announced it is closing its Japan branch this month and laying off all its employees in the Land of the Rising Sun. Kraken Is Stepping Away from Japan The Japanese division of Kraken is called Payward Asia. In a recent blog post, the company mentioned that it’s going to be ceasing all its crypto trading services as of January 31, 2023. This will mark the second time Kraken has left the Japanese market, the first taking place...

The drama surrounding the fall of famed crypto exchange FTX just keeps getting bigger and bigger. FTX Will Be With Us a Long Time It has been announced that several prosecutors are looking into the disappearance of approximately $370 million in crypto funds that vanished from the exchange just hours after its head executive, Sam Bankman-Fried, filed for bankruptcy. The prosecutors investigating have been hired by the Department of Justice (DOJ), which has frozen several...

Despite several bullish predictions for 2023, Brian Armstrong – the CEO of Coinbase – believes it will be some time before the crypto space relieves itself of the drama caused by FTX, and he doesn’t think 2023 will offer the improvement over 2022 that so many analysts are either predicting or hoping for. Brian Armstrong Doesn’t Think 2023 Will Offer Much Improvement FTX will likely go down as one of the biggest blunders of the crypto world. Once considered one of the...

Judge Lewis A. Kaplan, a Manhattan federal judge, will oversee the trial of Sam Bankman-Fried. SBF is presently facing several charges in connection with the collapse of FTX. It is alleged that Bankman-Fried likely utilized customer funds to engage in Ponzi-like behavior and purchase luxury items such as Bahamas-based condominiums for himself and fellow FTX employees. Lewis Kaplan Will Decide SBF’s Fate Kaplan was a second-choice judge. The first one – who is unnamed at...

It’s happened again, folks. Another crypto hack has been recorded to the digital currency books. This time, the alleged victim is Bit Keep, a virtual wallet provider, and more than $8 million in crypto funds have gone missing. Bit Keep Compromised; A Lot of Money Missing To be fair, this is a small number compared to the many digital currency hacks and scams that have occurred in the past, but it’s another clear reminder that the space is not where it needs to be, and...

Sam Bankman-Fried – the disgraced head executive of the now defunct crypto exchange FTX – is out of prison on a $250 million bond. While awaiting trial, he will live at his parents’ house in California. Sam Bankman-Fried Is Temporarily Out of Jail Bankman-Fried made his way back to the United States from a Bahamian jail in late December of last year. He also made a court appearance on January 3. The bond in question is different from bail. What it means is that if...

Core Scientific – one of the largest digital currency mining firms in the world – has announced it’s filing for chapter 11 bankruptcy protection. The proceedings took place in a federal bankruptcy court in southern Texas. Core Scientific Is Filing Bankruptcy Core Scientific has been hinting at potential bankruptcy for some time. It stated in its official court documents that the declining price of bitcoin, as well as rising electricity prices to run its mining centers...