The former CEO of FTX, Sam “SBF” Bankman-Fried, has seemingly begun to embark on an apology tour to redeem his image a month after the sudden implosion of FTX, which revealed that the exchange had been improperly using customer and investor funds. OnNov. 30, Bankman-Fried made his first live public appearance since the collapse of
Regulation
The founders of Three Arrows Capital, or 3AC, the Singapore-based crypto hedge fund with close ties to Terra Labs, have been spending more time engaging on social media and news outlets than dealing with its own liquidation, according to bankruptcy lawyers. In a Dec. 2 hearing in United States Bankruptcy Court in the Southern District
RBB Lab, a technology development firm based in the Republic of San Marino, has utilized nonfungible token (NFT) technology to issue a court summons to a former employee and a contractor. RBB Lab CEO Enrico Rubboli told Cointelegraph that it summoned the two individuals to the Judiciary of Italy on claims of attempted extortion and
Working on their national crypto framework, the amendments to the law “On virtual assets,” the Ukrainian regulatory community actively collaborates with international experts. The list includes the international consultancy firm Ernst&Young and the USAID Financial Sector Reform project. On Dec. 1, the Advisory Council on the Regulation of Virtual Assets, organized by the National Securities and Stock
Cryptocurrency miners in Russia appear to be unbothered by the ongoing crisis of crypto mining as the local demand for mining hardware has reportedly been on the surge in Q4 2022. Some crypto mining hardware distributors in Russia have faced a significant spike in demand for mining-designed application-specific integrated circuit (ASIC) chips, the local news
Central bank governors from around the globe are currently in Thailand to discuss the role of central banks amid evolving financial technology. The conference is jointly hosted by the Bank of Thailand (BOT) and the Bank for International Settlements (BIS). A panel discussion on digitalized monetary systems saw Eddie Yue, chief executive of the Hong Kong
The United States Trustee handling FTX’s bankruptcy proceedings has referred to the now-defunct exchange as the ”fastest big corporate failure in American history,” and is calling for an independent probe to look into its downfall. In a Dec. 1 motion, U.S. Trustee Andrew Vara noted that over the course of eight days in November, debtors “suffered
Former FTX CEO Sam Bankman-Fried (SBF) has been lambasted this week following a series of controversial public appearances, with Galaxy Digital’s Mike Novogratz one of the latest to dish out a lashing to the former kingpin of crypto. On Dec. 1, Galaxy Digital CEO Mike Novogratz unleashed a tirade of criticism towards SBF concerning his
The New York State Department of Financial Services (DFS) has submitted a proposed change in state laws that would allow it to charge licensed crypto companies for regulating them. While that may seem like an odd proposition, under Financial Services Law (FSL) it is common practice for the DFS to charge licensed non-crypto financial entities
The New York State Department of Financial Services, or NYDFS, has proposed a regulation that would allow the government department to assess supervisory costs from licensed crypto firms operating in the state. In a Dec. 1 announcement, NYDFS Superintendent Adrienne Harris opened the proposed budget measure for public comment. The regulation, if approved, would grant
United States Commodity Futures Trading Commission chair Rostin Behnam told a Senate Agriculture, Nutrition, and Forestry Committee meeting Dec. 1 that his agency’s regulations contain “core elements that have served the markets for decades.” But as the fallout from the FTX collapse gets sorted out, notable gaps in current legislation have come to light, Behnam
Commodity Futures Trading Commission, or CFTC, chair Rostin Behnam has cited LedgerX, the crypto derivatives and clearing platform based in the United States which was not part of FTX Group’s Chapter 11 filing, as an example of how regulating crypto firms could benefit U.S. consumers. In a Dec. 1 hearing of the Senate Agriculture Committee
As a crypto CEO, I know how often our sector is misunderstood and criticized. Sometimes, the criticism is deserved because we have not always done our part to shine a light on the utility and use cases powering positive change. But other times, it’s based on the assumption that all players in this industry are
Italy is planning to tighten regulations on digital currencies by expanding its tax laws to include cryptocurrency trading in 2023, according to budget documentation released on Dec. 1. Included in its 2023 budget are plans to impose a 26% levy on profits larger than 2000 euros ( $2,062.3) made on cryptocurrency trading, according to Bloomberg. Prior
On this week’s episode of Market Talks, Cointelegraph welcomes Magdalena Gronowska, co-founder of Citadel 256 and senior consultant at MetaMesh — a blockchain consultancy and building platform. This week, we take a deep dive into everything that is happening in the crypto space — we get Gronowska’s professional take on Sam Bankman-Fried and the whole FTX
Cryptocurrency exchange Binance is working with accounting firm Mazars as part of its proof-of-reserve (PoR) audits triggered by the fall of FTX. Mazars, the accounting firm that worked for former United States President Donald Trump’s company, was appointed as an official auditor to conduct a “third party financial verification” as part of Binance’s PoR updates,
The chief of the United States Commodity Futures Trading Commission (CFTC), Rostin Behnam, claimed Bitcoin is the only crypto asset that can be viewed as a commodity during an invite-only crypto event at Princeton University, reported Fortune. Behnam’s comments are quite a contrast to his early statements in October, where he claimed Ether (ETH) could
One of the leading figures convicted of being behind the $100 million crypto “Ponzi” scheme, EmpiresX, has just been handed an over four-year jail sentence by a United States court. The sentencing was handed to Joshua David Nicholas, the “head trader” of purported crypto platform EmpiresX, who is nowset to serve a 51-month prison sentence
The firm behind the decentralized content platform LBRY said its days are likely numbered following its recent loss against the United States Securities and Exchange Commission (SEC) in court. It is specifically LBRY Inc that must die, the LBRY protocol and blockchain will continue. pic.twitter.com/SWwbqTq9In — LBRY (@LBRYcom) November 29, 2022 The SEC initially took
Referring to the events surrounding the collapse of FTX as “a handful of magic beans”, Massachusetts Senator Elizabeth Warren seemed to frame the “contagion” spreading through the crypto space as a partisan issue. Speaking at a Senate Banking Committee nomination hearing on Nov. 30, Warren addressed committee counsel Jonathan McKernan, who confirmed that FTX’s bankruptcy