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FTX did not hold back on company expenses in the Bahamas, according to court documents. FTX’s Bahamian company spent a staggering amount of money on luxury hotels and accommodation, flights and food in the nine months before the exchange’s collapse, court filings have revealed. According to bankruptcy court documents reviewed by Business Insider, FTX Digital Markets went through $40 million...
The job cuts come a day after the company said it would be “reducing costs and driving efficiencies” amid a challenging environment for crypto companies. (Genesis Trading, Modified by CoinDesk) Genesis Global Trading laid off more employees on Thursday, a spokesperson for the crypto-trading firm confirmed in a statement to CoinDesk. A person familiar with the matter said Genesis eliminated...
The Tokyo-based video game giant is already developing multiple blockchain games, highlighting an area of growth amid a brutal crypto winter. FINAL FANTASY XIV: Endwalker Patch 6.3 Screenshots. (Square Enix) Blockchain-based gaming continues to garner interest among some of the largest global gaming companies, even in the face of an extended crypto winter that has chilled many sectors of the...
El Salvador’s position as the fourth-largest crypto ATM hub was short-lived as Australia stepped up its game over the following months. El Salvador, the first country to legalize Bitcoin, has been pushed down yet another spot in total crypto ATM installations as Australia records 216 ATMs stepping into the year 2023. As part of El Salvador’s drive to establish Bitcoin...
This week, an anonymous person leaked 100,000 API keys connected to the crypto trading service. FBI agent working on his computer in office (Source: domoyega) The FBI is investigating the3Commas data breach, CoinDesk has learned. The investigation comes afterweeks of criticismfrom users of the Estonia-based crypto trading service, who say its CEO repeatedly brushed off warning signs that the platform...
Alameda took out a loan pledging those same shares as collateral. Former FTX chief Sam Bankman-Fried borrowed hundreds of millions of dollars from Alameda Research to purchase his stake in trading app Robinhood Markets (HOOD), accordingto court documents. In an affidavit provided to a Caribbean court before his arrest, Bankman-Fried said he and FTX co-founder Gary Wang together borrowed over...
The BNB token, with a market cap around $40 billion, has failed to win a listing on major U.S. crypto exchanges – except on Binance.US. Crypto analysts say it might be due to risks that BNB could be deemed a security by U.S. regulators. The BNB token suffered a steep price decline in December. (CoinDesk) Binance, the world’s biggest crypto...
In his first court appearance since being extradited from the Bahamas, the former CEO was told he can live with his parents on $250 million bail secured by their Palo Alto house. Sam Bankman-Fried exits federal court in New York City (David Dee Delgado/Getty Images) A federal judge agreed to release former FTX CEO Sam Bankman-Fried after he appeared in...
The publicly traded miner filed for Chapter 11 at Southern District of Texas bankruptcy court. Core Scientific's Marble facility in North Carolina. (Core Scientific) Core Scientific (CORZ), one of the largest bitcoin miners by computing power, filed for bankruptcy as the crypto winter continues to take its toll on the industry. The company filed for Chapter 11 at Southern District...
Investors have been led astray by misleading signals from the market. It enticed them to go "all in" on centralized exchanges rather than focusing on real-world use cases for tokenized value exchange. (Rachel Sun/CoinDesk) Capitalism failed crypto. Or perhaps they failed each other. No, I’m not trying to exonerate Sam Bankman-Fried and all those who have abused people’s trust and...
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