The former top executive of failed cryptocurrency trading platform FTX has pleaded guilty and is cooperating with federal prosecutors investigating the alleged billion-dollar fraud at the now collapsed exchange. Nishad Singh, the disgraced former director of engineering at FTX, has pleaded guilty to six heinous conspiracy charges, including conspiracy to commit wire fraud, conspiracy to … Read more
The bank has predicted that tokens which power smart contract-enabled blockchain platforms will outperform meme coins and governance tokens. This is due to the fact that these platforms provide more real-world use cases and are more secure due to the use of smart contracts. Cryptocurrencies are off to a great start this year, with the … Read more
Jump Crypto, the Chicago-based crypto arm of Jump Trading, was able to help develop DeFi project Wormhole and then counter-exploit the Wormhole protocol hacker to retrieve $140 million worth of tokens. According to a recent blog post, Jump Crypto and Oasis, which develop multi-signature wallet software, teamed up to successfully recover certain assets involved with … Read more
ADA, the cryptocurrency that powers Cardano’s blockchain protocol, is coming under selling pressure on Friday in tandem with broader cryptocurrency markets. ADA/USD was last changing hands in the $0.37s, down around 1.5% on the day, with crypto weighed by downside in US stocks and upside in the US dollar and yields in the wake of … Read more
Sam Bankman-Fried, the founder of crypto trading platform FTX, has been hit with four new criminal charges by federal prosecutors. This brings the total potential liability he faces in what authorities allege is a billion-dollar fraud to nine. The new charges against the Crypto King, unsealed in a superseding indictment on Thursday, add to the … Read more
Plans to establish Hong Kong as a leading crypto hub in Asia have been unveiled, with authorities setting aside HK$50 million (US$6.4 million) to boost the city’s Web3 sector. The investment will go towards funding blockchain research and development, as well as creating an innovation lab to support startups in the space. The city’s Financial … Read more
Lawyers for Sam Bankman-Fried agreed to pay for a security expert to help the federal judge overseeing his fraud case navigate technology issues as they seek to keep the FTX founder out of jail before his trial. They hope that the expert’s help will keep their client from having to spend any time behind bars … Read more
A Russian economist believes that central banks will ultimately determine the fate of crypto, even if they are not currently “prioritizing” their regulation of the sector. Nikita Maslennikov, of the Center for Political Technologies, believes that Russia’s economic woes are largely due to the country’s dependency on oil and gas exports. Nikita Maslennikov, of the … Read more
Bitcoin’s price is on the rise, with a trading volume of $40 billion entering the market. The BTC/USD pair has declined less than 1% within the past 24 hours, currently trading at $24,372.00. Despite this recent dip, its value has seen a notable increase of over 11% within the last seven days. Bitcoin has seen … Read more
A complaint filed by the SEC against Do Kwon and Terraform Labs has revealed an unnamed trading firm helped Kwon restore the UST’s $1 peg in 2021 in exchange for discounted LUNA tokens. When U.S. regulators sued Do Kwon and Terraform Labs this week for the spectacular implosion of the terraUSD (UST) stablecoin and related … Read more
