“The collapse of FTX will likely give rise to a number of criminal and civil actions against the exchange and its executives, like former FTX CEO Sam Bankman-Fried,” reports CoinDesk, citing a number of legal experts. “It’s also likely to push forward actual regulatory changes, either via lawmakers or through Read more…
Fearing the possibility of encryption-cracking quantum computers, Quanta magazine reports that researchers are “scrambling to produce new,’post-quantum’ encryption scheme.” Earlier this year, the National Institute of Standards and Technology revealed four finalists in its search for a post-quantum cryptography standard. Three of them use “lattice cryptography” — a scheme inspired Read more…
Crypto exchange FTX lent billions of dollars worth of customer assets to fund risky bets by its affiliated trading firm, Alameda Research, setting the stage for the exchange’s implosion, a person familiar with the matter said. FTX Chief Executive Sam Bankman-Fried said in investor meetings this week that Alameda owes Read more…
US financial regulators are investigating whether beleaguered crypto-exchange FTX.com properly handled customer funds, as well as its relationship with other parts of Sam Bankman-Fried’s crypto empire, Bloomberg News reported Wednesday, citing people familiar with the matter. The investigations by the Securities and Exchange Commission and the Commodity Futures Trading Commission Read more…
In the United States, the lack of regulatory clarity threatens to slow down not just mainstream adoption of new technologies but also innovation in digital payment options, potentially cutting off consumers and businesses nationwide from sought-after conveniences, simply because regulators can’t keep up with how digital assets are being used Read more…
In the real world, the construction of the World Cup infrastructure in Qatar has been marred by extreme temperatures and migrant worker deaths. In the metaverse, however, a digital replica of Lusail Stadium in Doha has none of that baggage — and the virtual property can be raffled off as Read more…
Cryptocurrency exchange giant Binance is highly unlikely to go through with its proposed acquisition of struggling rival FTX after less than a day of reviewing the company, according to a person familiar with the matter. Binance’s non-binding letter of intent for the takeover — announced Tuesday as FTX’s financial position Read more…