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First Mover Americas: Crypto Markets Sinking on Silvergate
3.3.2023
The latest price moves in bitcoin (BTC) and crypto markets in context for March 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets
US Senators Probe Crypto Exchange Binance About ‘Potentially Illegal Business Practices’
3.3.2023
Three U.S. senators have asked crypto exchanges Binance and Binance US for documents and answers pertaining to “potentially illegal business practices.” The lawmakers told Binance CEO Changpeng Zhao (CZ): “Your actions have called into question the legitimacy of your business...
FTX presentation shows 'massive shortfall' in firm's assets
3.3.2023
FTX and FTX US together have billions in deficits in their exchange wallets and fiat accounts, uncovered in a "huge effort" according to the exchange's CEO
Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing
2.3.2023
On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S....
FTX Has ‘Massive Shortfall’ in Assets, Say Bankruptcy Lawyers
2.3.2023
So far, $2.2 billion in assets have been identified in the wallets of accounts associated with FTX.com, of which only $694 million are in the most liquid assets
Crypto Bank Charter Firm Protego Trust Lays Off Most of Its Workforce: Source
1.3.2023
Prosecutors’ Case Against FTX’s Sam Bankman-Fried Becomes Clearer
1.3.2023
Federal prosecutors have shared more information about their case against FTX founder Sam Bankman-Fried. Between two new indictments and civil suits against another former FTX executive, we now have a much clearer picture about what the Department of Justice thinks it has
SEC, CFTC press civil charges against former FTX exec Singh parallel to criminal case
1.3.2023
Singh’s former colleagues Ellison and Wang consented to stays in their CFTC cases; Singh has agreed to submit a consent order proposal in the CFTC case
Crypto Long & Short: Decentralized Exchange Research Ramps up
1.3.2023
This week, Glenn Williams Jr. argues that decentralized exchanges (DEXes) have an intriguing road ahead amid the wreckage of FTX. Then, Kelly Chambers of THEIA8900 notes the digital-asset myopia among financial advisers focused on bitcoin (BTC) and Ethereum’s ETH
Former Accounting Team of FTX US Auditor Armanino Sets Up Shop as The Network Firm
1.3.2023
The episode highlights yet another chokepoint for the blockchain industry: It's become harder for crypto startups to enlist big accounting firms to do audits and asset attestations
First Mover Americas: Stacks' Token Starts March With a Bang
1.3.2023
The latest price moves in bitcoin (BTC) and crypto markets in context for March 1, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets
Hodlnaut founders propose selling the firm instead of liquidation
1.3.2023
Despite Hodlnaut creditors insisting on the firm’s liquidation, the founders keep trying to save the business and sell it to potential investors
Pressure Mounts on FTX Founder Sam Bankman-Fried as Former Director of Engineering Pleads Guilty – Here's What You Need to Know
1.3.2023
Nishad Singh, the former director of engineering at now-defunct crypto exchange FTX, has pleaded guilty to U.S. criminal charges, agreeing to cooperate with the investigation into FTX founder Sam Bankman-Fried.
Singh pleaded guilty to six conspiracy charges, including conspiracy to commit wire...
Former FTX Director Pleads Guilty to Charges of Fraud, Money Laundering, and US Campaign Finance Violations
28.2.2023
Roughly 11 days ago, it was reported that Nishad Singh, the former director of engineering at FTX, was working with federal prosecutors to arrange a plea deal. On Tuesday, Singh pleaded guilty to criminal charges and stated, “I am unbelievably sorry for my role in all of this.” Singh Cooperating...
Report Claims Visa and Mastercard Plan to Pause New Partnerships, Visa’s Head of Crypto Insists ‘Story Is Inaccurate’
28.2.2023
According to a recent report from sources familiar with the matter, Mastercard and Visa, the credit card and payment services giants, are halting new partnerships with cryptocurrency firms. This news comes after the collapse of several cryptocurrency ventures that offered crypto debit cards...
Former FTX Director to reportedly plead guilty to fraud charges
28.2.2023
Nishad Singh has reportedly agreed to plead guilty to one count of wire fraud, one count of conspiracy to commit wire fraud on FTX customers, and one count of conspiracy to commit commodities fraud
SEC, CFTC Charge FTX's Singh With Fraud Following Criminal Plea
28.2.2023
The U.S. Securities and Exchange Commission and Commodity Futures charged former FTX director of engineering Nishad Singh with fraud allegations on Tuesday
Former FTX Engineering Director Nishad Singh Pleads Guilty to Criminal Charges: Reuters
28.2.2023
Former FTX Director of Engineering Nishad Singh pleaded guilty to criminal charges in a New York court on Tuesday
Wrapped Bitcoin supply drops to negative after 11,500 wBTC burn linked to Celsius
28.2.2023
Wrapped Bitcoin garnered DeFi traders' support in the 2021-22 bull season, but the demand started to fade post numerous crypto contagions led to redemptions
Alameda Gap Persists as Stunted Liquidity Holds Back Crypto Market
28.2.2023
February is ending, but the 'Alameda Gap' is not.
As the second month of this year is wrapping up, the prices in the crypto market have somewhat recovered from last year's crash. Still, the so-called 'Alameda Gap' resists filling, as the liquidity remains far from the levels seen before...