Top news of the week
FTX Founder Sam Bankman-Fried Arrested, Scheduled To Be Extradited To US
Sam Bankman Freed was detained He will likely remain there until February after his bail application was denied in a Bahamas court. Second bail application The SBF reportedly filed a lawsuit in the Supreme Court of the Bahamas.His arrest came after a formal submission by the US government criminal charges against him — Including 8 frauds.Bankman-Fried could face his 115 years in prison if convicted, but legal commentator told Cointelegraph In this case, there is “a lot to do”. The domino effect of the FTX meltdown The Working Life of Bankman-Fried’s Parents, resulting in the cancellation of a course at Stanford Law School. Other recent developments on FTX include: Class action lawsuit against Silvergate Bank A lawsuit was filed in California for the purpose of making banks responsible for depositing FTX users’ deposits into Alameda Research’s bank accounts.
Binance ‘puts FTX out of business’ — Kevin O’Leary
Venture Capital Investor Kevin O’Leary argued during a US Senate committee hearing that Binance and FTX were “at war with each other, with one intentionally putting the other out of business.” O’Leary claimed the hearing was part of a larger investigation by lawmakers into the collapse of FTX, in which Binance played a key role. Recently, Binance has been plagued by Fear, Uncertainty and Doubt (FUD). As a result, the liquidity of the exchange will decreaseCrypto analytics firm Nansen reports that Binance made over $3.6 billion in net withdrawals between December 7th and December 13th.
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Rep. Tom Emer Considers Bringing Back Bill Aimed at Reducing Crypto Redemption
US lawmakers are under pressure Enacting Crypto Regulation In Light Of FTX Demise, And Rep. Tom Emer Will Reintroduce Bipartisan Bill That Raises Requirements For Certain Crypto Businesses And Projects To Register As Virtual Asset Service Providers “Possibly I think it’s a good time” (VASP). Titled the Blockchain Regulatory Certainty Act, the bill aims to remove several hurdles and requirements for “blockchain developers and service providers” such as miners, multi-signature service providers and decentralized financial platforms. increase.
No More Proof-of-Booking Checks? Auditor Quietly Removes Crypto Projects From Portfolio
Two of the most prominent auditors We have suddenly stopped providing crypto audit services. At a crucial time for the crypto industry, Mazars Group Binance Proof of Reserve Audit Removed From its website, just days after the crypto exchange confirmed it controlled 575,742 bitcoins.The decision affects other crypto exchanges using Mazars’ services, including Crypto.com and KuCoin. gave Mathers then explained that the suspension was due to “concerns about how these reports are generally understood.” Accounting firm Armanino has also closed its cryptocurrency auditing services. Armanino has worked with several cryptocurrency trading platforms including OKX, Gate.io and his struggling FTX exchange.
MetaMask to allow users to buy and transfer Ethereum via PayPal
Another move into the crypto space, PayPal has partnered with ConsenSys, the parent company of MetaMask, to enable the purchase and transfer of Ether (ETH) through its platform. By logging into the MetaMask app, the user can access their girlfriend’s PayPal account to complete the transaction. Initially, only select PayPal users in the United States will be able to test the service. Other traditional payment companies are looking to integrate cryptocurrencies into their services. in October, Western Union also applies for three trademarks Management of digital wallets and exchange of digital assets.
winner and loser
Bitcoin for the weekend (Bitcoin) is $16,826,ether (ethereum) and $1,194 When XRP and $0.35The total market capitalization is $817.82 a billion, according to Go to Coin Market Cap.
Among the 100 biggest cryptocurrencies, this week’s top 3 altcoin risers are Tongcoin (tons) 30.36%, Bitcoin SV (BSV) 10.11%, OKB (OKB) at 9.77%.
This Week’s Top 3 Altcoin Losers Are Neutrino USD (USD) -33.77%, Trust Wallet Token (TWT) -27.43%, chain (XCN) -23.42%.
For more information on crypto prices, be sure to read Cointelegraph Market Analysis.
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most memorable quotes
“Binance is now a large unregulated global monopoly that is putting FTX out of business.”
Kevin O’Leary, venture capital investor
“I thought it made sense. The kids were young, the principles were innovative, the ideas were golden. […] Who was I to challenge it?
Daniel Cloudformer FTX employee
“Our experience so far [crypto] Whether it’s FTX or any other platform, they’re deliberately avoiding them, and they’re how large-scale money laundering occurs. ”
Ashley Alder, Appointed as Chairman of the UK Financial Conduct Authority
“We need to make sure people protect their digital assets and personal information in the metaverse just like we protect their physical assets.”
Andrew Newman, CTO and co-founder of ReasonLabs
“In the future, almost everyone who could go bankrupt is bankrupt.”
Arthur Hayes, Former CEO of BitMEX
Forecast for the week
Bitcoin Drops Below $17,000 As “Most Crazy Rumor” Surrounding Binance Sink BTC Price
Bitcoin Drops Below $17,000 As Traders Stay Vigilant Overly bearish BTC price action over Binance FUD. On Bitstamp, BTC/USD hit a multi-day low of $16,928 on his Dec. 16, according to data from Cointelegraph Markets Pro and TradingView. The pair climbed to a one-month high thanks to the latest macroeconomic data and a policy update from the US.
“It’s interesting that everyone is suddenly bearish as if Bitcoin is just bearish. Eight founder and CEO Michael van de Poppe questioned whether Binance’s FUD really has a role to play in the market.
FUD of the week
Microsoft bans cryptocurrency mining on cloud services
Microsoft quietly banned crypto mining According to the report, in order to increase the stability of cloud services and better protect customers from risks such as cyber fraud, attacks, and unauthorized access to resources, the new restrictions will be introduced into Microsoft’s Universal License Terms, ” Mining cryptocurrencies without Microsoft’s prior approval is prohibited.” The move joins Microsoft with other cloud computing providers, including Google. Google also prohibits customers from mining cryptocurrencies without prior written consent.
‘Third Party Incident’ Affects Gemini, Exfiltrates 5.7 Million Emails
Gemini appears to have suffered a data breach From a third party vendor. According to documents obtained by Cointelegraph, the hackers were able to access 5,701,649 lines of information about Gemini’s customers, which relate to some of her email addresses and phone numbers. Gemini said the breach was caused by a third-party vendor of his, but was also warned of an ongoing phishing campaign of hers. The leaked database did not contain sensitive personal information such as names, addresses, or other information about her Know Your Customer.
SEC Sues Atlas Trading in $100 Million Stock Manipulation Scheme
US Securities and Exchange Commission (SEC) has filed a lawsuit against eight individuals associated with the Discord-based forum Atlas Trading, alleging stock manipulation. According to the SEC report, the blogger took a sizeable position in securities, recommending the blogger to his followers, and selling shares to capitalize on the demand created by “deceptive promotions” to at least help him. reportedly earned $100 million. The complaint did not mention cryptocurrencies or other digital assets.
Best Features of Cointelegraph
Should Crypto Projects Negotiate with Hackers? Probably
Some security experts say the negotiations It’s a smart way to get back most of your stolen funds, but some argue that you shouldn’t give in to extortion.
Can Bitcoin Survive The Carrington Event That Knocks Out The Grid?
Massive Carrington Event Level Solar Storm It could knock out most electronics on earth. Can cryptocurrencies survive going offline all at once?
listen! Cointelegraph Launches Crypto Podcast, Starting With 4 Shows
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