FTX Co-Founders Plead Guilty And More

A plea deal comes to the rescue of disgraced former CEO of Alameda Research, Caroline Ellison. In exchange for pleading guilty to federal fraud charges, Ellison will be granted leniency in her own case in court. Let’s find out more. 

https://www.youtube.com/watch?v=fy5n55uaS9w

Ethereum 

Payment giant Visa published a paper outlining how it could collaborate with the Ethereum network on automatic payments in the future.

The CEO of the Paxful peer-to-peer cryptocurrency marketplace has tweeted that his company had decided to remove ETH owing to several concerns. 

Altcoins

Waves blockchain founder Sasha Ivanov has asked centralized exchanges to disable futures trading because it is a breeding ground for FUD.

Technology

Crypto newbies still prefer centralized exchanges like FTX over self-custody wallets, even after entrusting the former with funds, leaving them vulnerable to hacks, misappropriation, and regulation-imposed account freezing. 

In a Japanese prefecture north of Tokyo, police have started seizing crypto assets from citizens who do not pay their parking fines.

JPMorgan Chase has published the results of a research project that indicates that the emerging trends in the sampled demographic reflect a shift in preferences among U.S. crypto users.

Legendary investor Bill Miller thinks Bitcoin has held up well considering the upheavals in the crypto market.

Binance has addressed the accusations brought against it over recent weeks with a Chinese blog post, where it sought to clear up seven key issues.

FTX’s new management revealed at a procedural hearing that it had identified assets worth over $1 billion since starting a strategic review of the firm’s assets.

Bankrupt crypto lender BlockFi has filed a motion to a United States bankruptcy court for permission to return frozen cryptocurrencies held in BlockFi wallets to its users.

Voyager Digital today announced that Binance.US won a second bidding process following FTX’s bankruptcy filing to buy the bankrupt firm’s assets for $1.022 billion.

Regulation

Caroline Ellison, the former CEO of Alameda Research and Sam Bankman-Fried’s co-founder for FTX, has pleaded guilty to federal fraud charges as part of a deal for leniency in her own case.

SEC Chair Gary Gensler has opposed all demands for new laws, stating that existing SEC rules and Supreme Court decisions are sufficient and that crypto issuers and exchanges simply need to follow them. 

The deputy governor of the Bank of England has warned that cryptocurrency trading is “too dangerous” to remain unregulated.

Indian central bank governor Shaktikanta Das said earlier today that crypto should be banned, which might cause the next financial crisis if allowed to grow.

In a desperate bid to navigate western sanctions, Russia’s State Duma, the lower house of parliament, will consider a bill that would legalize a crypto market in the country.

NFT

The Pokémon Company is taking an Australian crypto game company to court for using characters from the Pokémon franchise without permission.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.