The mainstream coverage of SBF and FTX is more than a little blase… SBF was heavily involved in Democratic Party politics: In the 2022 election cycle, he was the second most prolific funder of Democratic candidates. But he wasn’t just a funder of electoral efforts. He funded both progressive and Read more…
Most addresses holding bitcoin (BTC), the largest cryptocurrency, are now in the red, the first time that’s happened since the start of the coronavirus-induced crash of March 2020. Just over 51%, or 24.6 million addresses of the total 47.9 million, are below purchase price on their investments, according to data Read more…
“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…