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A Major Vulnerability Found in Early Crypto Wallet Software Risks Billions in Assets
17.11.2023
A critical vulnerability in early cryptocurrency wallets, identified by cybersecurity startup Unciphered, threatens billions of dollars in digital assets. Originating from a flaw in the BitcoinJS software used for wallet generation between 2011 and 2015, this issue exposes wallets to potential...
Coinbase Expects Spot Bitcoin ETFs to Add Billions to Crypto Market — Says SEC Approval Possible by Year-End
16.11.2023
Cryptocurrency exchange Coinbase says spot bitcoin exchange-traded funds (ETFs) could add billions of dollars to the total crypto market cap. Coinbase also believes that the chances of one or more spot bitcoin ETFs being approved by the U.S. Securities and Exchange Commission (SEC) before the...
Bitcoin Wallets Created Before 2016 May Be Vulnerable – Billions at Risk?
15.11.2023
Source: AdobeStock / Zerbor The US-based cybersecurity firm Unciphered has warned users globally that their bitcoin (BTC) wallets created before 2016 may be in danger – as are billions in BTC. Early crypto adopters and participants in a number of blockchain platforms between 2011-2015 may...
Prosecutor: FTX Boss Sam Bankman-Fried Stole Billions From Customers, Lied About It
2.11.2023
Federal prosecutor Nicolas Roos argued this week that Sam Bankman-Fried stole billions in customer funds from his cryptocurrency exchange FTX and lied repeatedly to cover it up, actions that make him guilty on all counts. The prosecutor’s closing argument paints a picture of Bankman-Fried...
Senator Rand Paul: Out-of-Control Government Spending Threatens ‘the Very Existence’ of US Dollar
2.11.2023
U.S. Senator Rand Paul has cautioned that the government’s “out-of-control spending” is threatening the very existence of the U.S. dollar and even the country. Commenting on the government spending billions of dollars to help multiple countries, Paul warned: “They’ll...
‘Magnificent seven’ tech stocks tumble a whopping $280B as crypto surges
26.10.2023
Google's parent company Alphabet was the worst performer on the day, falling 9.5% in a massive $180 billion wipeout
Ex-General Counsel Sheds Light on FTX’s $7B Gap in Bankman-Fried Fraud Trial
22.10.2023
FTX’s former general counsel Can Sun testified Thursday in federal court that he was shocked to learn FTX founder Sam Bankman-Fried (SBF) had secretly transferred billions in customer funds to his hedge fund Alameda Research. Sun told prosecutors he resigned the day after realizing the scope...
FTX Used Billions in Customer Funds to Buy Back Binance Stake
19.10.2023
Binance CEO Changpeng Zhao said in a 2022 post the company had received over $2.1 billion in binance usd (BUSD) stablecoins and FTX’s FTT tokens
Evergrande’s Economic Tremors Trigger Bank Run in Northern China
17.10.2023
Several reports say that the major Chinese real estate developer Evergrande’s downfall triggered a bank run in northern China last week. The bank run began after rumors spread that the financial institution, Bank of Cangzhou, allegedly loaned billions to the struggling company. This...
FTX Engineer Reveals $8B Bug, Lavish Spending, and Political Donations in Explosive Testimony Against Bankman-Fried
17.10.2023
Nishad Singh, former director of engineering at FTX, testified this week against his former boss Sam Bankman-Fried, detailing a software bug that hid billions in missing funds and excessive spending on celebrities and real estate. Singh Points Finger at $8 Billion Bug and Bankman-Fried’s...
Supporting 2 Wars Is Feasible Despite US Debt Surge, Says Yellen
16.10.2023
After the United States recently accumulated hundreds of billions in debt and directed over $75 billion to Ukraine, U.S. Treasury Secretary Janet Yellen assured on Monday that the nation is financially equipped to back two wars. U.S. Can ‘Certainly Afford’ 2 Wars Yellen Insists Amid Rising Debt...
Court approves Genesis settlement of $175M to FTX, expunges billions in claims
12.10.2023
Genesis previously reportedly said that the $175 million settlement was “fair and equitable,” while FTX creditors wanted to contest it
Inside Caroline Ellison’s Explosive Testimony — Former Alameda CEO Accuses SBF of Directing Fraud at FTX
11.10.2023
In bombshell testimony on Tuesday, Caroline Ellison, former CEO of Alameda Research, accused Sam Bankman-Fried of directing her and others to commit fraud under his leadership at FTX and Alameda. Taking the stand in a red dress, Ellison stated “Alameda took several billions of dollars from...
Bankman-Fried’s House of Cards? FTX Co-Founder Gary Wang Spills the Beans on Alleged Misuse of Client Funds
7.10.2023
On Friday, FTX’s co-founder, Gary Wang, delivered a riveting testimony to federal prosecutors, alleging that CEO Sam Bankman-Fried covertly diverted billions from customer accounts to fuel trades for his hedge fund, Alameda Research. Wang detailed how Bankman-Fried allegedly instructed him...
A Shot at Full Recovery? Amazon’s Billions to Anthropic Ignite Hopes for FTX Creditors
4.10.2023
FTX creditors might see a silver lining following the recent partnership between Anthropic and Amazon, as the tech behemoth unveiled plans to pour up to $4 billion into the budding artificial intelligence (AI) startup. Over on the social media haven X, a cadre of FTX creditors, united under...
Biographer Michael Lewis Exposes Management Failings and Missing Billions at FTX
3.10.2023
Biographer Michael Lewis has exposed management failures and the alarming disappearance of billions of dollars within the financial empire of crypto tycoon Sam Bankman-Fried.
Sharing his findings on CBS's 60 Minutes, Lewis, known for his investigations into Wall Street misconduct that unraveled...
Bankman-Fried Saw Missing FTX Billions as ‘Rounding Error,’ Biographer Says
2.10.2023
Michael Lewis revealed management failings at crypto exchange FTX, and a billion-dollar plan to keep Trump out of office in an interview with CBS
The Leading 5 Defi Categories Overseeing Billions: An October 2023 Snapshot
2.10.2023
As of October 1, 2023, $39.50 billion is nestled within decentralized finance (defi) platforms. Let’s dive into the top five categories, spotlighting the diverse array of defi protocols, the count of these applications, and the wealth they encompass. A Look at 5 Defi Categories Commanding...
Digital Assets Worth Billions Still Secure Despite Rise in Cyber Attacks — Former Microsoft Security Lead
22.9.2023
A former Microsoft Security Lead has insisted that a great proportion of digital assets worth billions of dollars are secure and are being “safely managed by hundreds of protocols.” The security expert suggested that protocols also need to have a platform that allows users to rate...
Softbank Looking to Invest Billions in AI After Pausing Crypto Investments
18.9.2023
Softbank, one of the largest investment management conglomerates in the world, is reportedly eyeing several investments in the artificial intelligence (AI) field after having paused its crypto investments. According to the Financial Times, Softbank founder and chief executive officer Masayoshi...