Tag Archives: News

Defendant Ben Armstrong denied the allegations and stated that he had never been in contact with anyone at FTX. A group of social media influencers has been named in a new lawsuit alleging they promoted collapsed crypto exchange FTX to their millions of followers without proper disclosure. According to the suit, filed on Wednesday, the influencers failed to disclose the nature of any, rewards, payments, or compensation realized from promoting the crypto exchange. The influencers named in...

Binance has announced Space ID (ID) as the 30th project it will host on its launchpad.  Space ID is the native token of the SPACE ID ecosystem, a Web3 identity protocol with a universal name service network. SPACE ID is developing a universal name service network that allows the discovery, registration, trading, and management of Web3 domains. Also, the project includes a Web3 Name SDK & API that allows developers to build and integrate all their Web3 identities into one toolkit.  How...

Senator Tommy Tuberville – a republican from the state of Alabama – is reintroducing a bill that would prevent the Department of Labor from getting in the way if retirees want to use their funds to purchase crypto or other forms of speculative assets. Tommy Tuberville Seeks to Protect Crypto Retirement Investments The move is being initiated not so much because Tuberville is a major crypto fan, but because he’s sick and tired of Biden and his nation-hating cronies...

After much thought, the ECB has increased interest rates by 50 basis points to stem sustainably high inflation.  The European Central Bank (ECB) recently hiked interest rates by another half a percentage point following today’s Frankfurt meeting. The ECB’s latest rate hike comes amid financial woes in the US and European banking sectors, with stocks taking a hammering. However, the Eurosystem’s banking arm deemed the increase necessary in a press release earlier today. The publication...

In recent days, there has been a lot of fear centering around the Securities and Exchange Commission (SEC). The agency is clearly motivated to try and bring crypto down for good, though according to Jake Chervinsky – the chief policy officer of the Blockchain Association – traders and investors shouldn’t worry too much as at the end of the day, it’s not the SEC that makes general rules and regulations regarding crypto, but Congress. The SEC Doesn’t Have That Much Power...

Stripe has retained its entity as a privately owned enterprise over the past ten years, despite persistent speculations about an IPO. Payment processor Stripe raised $6.5 billion at a $50 billion valuation, the firm announced, with a steep discount from its record valuation of $95 billion in 2021. According to the press release, the company doesn’t require money for expanding its business. The cash collection, with participation from Andreessen Horowitz, Founders Funds, Goldman Sachs, and...

When the financial woes of FTX also lead to the exchange’s bankruptcy, the deal could not proceed, pitching Binance.US as the next major favorite to bail out the company. Judge Michael Wiles, the presiding Judge over the Binance.US and Voyager Digital acquisition case with the United States Securities and Exchange Commission (SEC) has reaffirmed his order for the deal to proceed. The Judge canceled the petition from the SEC to halt the proposed sale of the bankrupt crypto brokerage...

Baidu recently saw its shares take a massive hit following a pre-recorded unveiling demo of ChatGPT rival Ernie bot.  The shares of Chinese multinational tech company Baidu plunged to an 8-week low after the company unveiled a ChatGPT rival. On Thursday, Baidu provided a sneak peek into the functionality of its Chinese-language bot but also forewarned of its imperfections. However, during a live-streamed release event, CEO Robin Li described how the Chinese-language ChatGPT would improve...

FTX made the transfers to SBF and others via the former CEO’s trading firm Alameda Research.  According to the new management of bankrupted crypto exchange FTX, $2.2 billion was transferred to SBF via various entities. In a press release, the company revealed that more than $3.2 billion was sent to Sam Bankman-Fried and other major employees according to a Schedules of Assets and Liabilities and Statements of Financial Affairs filed on March 15. FTX Transfers Over $3B to SBF and Other Key...

The price of Dogecoin has gone up again in recent weeks thanks to newfound assistance from Elon Musk, the South African billionaire and CEO of companies like Tesla, SpaceX, and now Twitter. Elon Musk Helps Dogecoin Rise Again In a recent social media post, Musk published a picture of his little dog Floki of the Shiba Inu breed (a Shiba Inu has long been the Doge mascot). The words accompanying the picture were rather sarcastic and likely weren’t meant to be taken...