Gregory Nolan is a former federal prosecutor and current white-collar defense attorney at Brown White & Osborn.
The headlines suggest prosecutors are kicking ass and taking names in the fight against white-collar crime.
In only the past few weeks, federal prosecutors indicted Sen. Bob Menendez (D-N.J.) on even more corruption charges, and the chief financial officer at former President Donald Trump’s family real estate company pled guilty to lying about the value of its assets.
On March 28, a federal judge sentenced Sam Bankman-Fried to 25 years in prison for his...
The headlines suggest prosecutors are kicking ass and taking names in the fight against white-collar crime.
In only the past few weeks, federal prosecutors indicted Sen. Bob Menendez (D-N.J.) on even more corruption charges, and the chief financial officer at former President Donald Trump’s family real estate company pled guilty to lying about the value of its assets.
On March 28, a federal judge sentenced Sam Bankman-Fried to 25 years in prison for his...
- 4/1/2024
- by Gregory Nolan
- Rollingstone.com
The collapse of Sam Bankman-Fried’s $40 billion crypto empire shocked the world with its speed and scale. In mere days, the company he founded, Ftx, fell from its perch as a top cryptocurrency exchange and filed for Chapter 11 bankruptcy. Customers who deposited funds on Ftx — sometimes their life savings — learned that billions had gone missing. A viral tweet from a crypto executive read: “The insanity of Theranos, speed of Lehman and scale of Enron.”
What are Bankman-Fried’s charges and his alleged criminal conduct?
Next week, Bankman-Fried will finally face the music.
What are Bankman-Fried’s charges and his alleged criminal conduct?
Next week, Bankman-Fried will finally face the music.
- 9/29/2023
- by Tracy Wang
- Rollingstone.com
New Delhi, Aug 23 (Ians) Amid the tightening regulatory landscape, crypto startups secured $2.3 billion from Vc rounds in the second quarter (April-June period) this year, the least amount raised since Q4 2020, a new report showed on Wednesday.
Data from BitcoinCasinos.com revealed the substantial deceleration in Vc funding within the crypto space.
“The crypto sector is at a pivotal crossroads. While Vc funding has historically acted as a catalyst for innovation, the recent downturn signals an urgent need for introspection and adaptation within the industry,” said crypto expert Edith Reads.
Several factors underpin this decline in crypto Vc funding, notably regulatory concerns.
Governments worldwide have assumed diverse positions on cryptocurrencies and blockchain technology, influencing investor sentiment. Regulatory ambiguity has dampened enthusiasm and compelled a reevaluation of investment strategies.
“Furthermore, the inherent volatility of major cryptocurrencies has impacted Vc funding decisions. In an industry renowned for its tumultuous market dynamics, investors struggle...
Data from BitcoinCasinos.com revealed the substantial deceleration in Vc funding within the crypto space.
“The crypto sector is at a pivotal crossroads. While Vc funding has historically acted as a catalyst for innovation, the recent downturn signals an urgent need for introspection and adaptation within the industry,” said crypto expert Edith Reads.
Several factors underpin this decline in crypto Vc funding, notably regulatory concerns.
Governments worldwide have assumed diverse positions on cryptocurrencies and blockchain technology, influencing investor sentiment. Regulatory ambiguity has dampened enthusiasm and compelled a reevaluation of investment strategies.
“Furthermore, the inherent volatility of major cryptocurrencies has impacted Vc funding decisions. In an industry renowned for its tumultuous market dynamics, investors struggle...
- 8/23/2023
- by Agency News Desk
- GlamSham
San Francisco, Aug 19 (Ians) Leading crypto exchange Binance has been dumped by global payments processor Checkout.com amid growing regulatory concerns.
Binance was once Checkout.com’s largest client — with more than $2 billion in transactions in one month in 2021, reports Forbes.
Checkout CEO Guillaume Pousaz terminated the company’s relationship with its once-largest customer citing “reports of regulators actions and orders in relevant jurisdictions” and “inquiries from partners”.
He cited additional concerns over Binance’s anti-money laundering, sanctions and compliance controls.
Binance disagreed with Checkout’s basis for terminating the contract, saying it was mulling legal action.
“We have come a long way to building an industry-leading compliance program and we hope to build more trust with regulators and partners,” a company spokesperson said in a statement.
Checkout has been processing between $300 million and $400 million in Binance transactions.
“Checkout’s decision to terminate its contract with Binance is a stunning blow to the crypto exchange,...
Binance was once Checkout.com’s largest client — with more than $2 billion in transactions in one month in 2021, reports Forbes.
Checkout CEO Guillaume Pousaz terminated the company’s relationship with its once-largest customer citing “reports of regulators actions and orders in relevant jurisdictions” and “inquiries from partners”.
He cited additional concerns over Binance’s anti-money laundering, sanctions and compliance controls.
Binance disagreed with Checkout’s basis for terminating the contract, saying it was mulling legal action.
“We have come a long way to building an industry-leading compliance program and we hope to build more trust with regulators and partners,” a company spokesperson said in a statement.
Checkout has been processing between $300 million and $400 million in Binance transactions.
“Checkout’s decision to terminate its contract with Binance is a stunning blow to the crypto exchange,...
- 8/19/2023
- by Agency News Desk
- GlamSham
New Delhi, July 18 (Ians) More than 1,000 new crypto coins have been listed in the market in the past five months, despite tighter regulations on crypto firms, bringing their total to 9,708 in July, a new report showed on Tuesday.
According to data presented by AltIndex.com, 1,023 new cryptocurrencies listed on the market since February.
The total number of cryptos increased 75 times between 2013 and 2021, from slightly more than 60 to more than 4,500, according to Statista and Investing.com data.
After the 2021 crypto boom, this figure more than doubled, with the market adding roughly 1,000 new cryptos per month.
They reached an all-time high of nearly 10,400 in February 2022, but it was all downhill from there.
The crypto winter resulted in one of the most significant drops in the number of available coins and tokens on the market, the report said.
As per a data, more than 1,700 digital coins were delisted from crypto exchanges between February...
According to data presented by AltIndex.com, 1,023 new cryptocurrencies listed on the market since February.
The total number of cryptos increased 75 times between 2013 and 2021, from slightly more than 60 to more than 4,500, according to Statista and Investing.com data.
After the 2021 crypto boom, this figure more than doubled, with the market adding roughly 1,000 new cryptos per month.
They reached an all-time high of nearly 10,400 in February 2022, but it was all downhill from there.
The crypto winter resulted in one of the most significant drops in the number of available coins and tokens on the market, the report said.
As per a data, more than 1,700 digital coins were delisted from crypto exchanges between February...
- 7/18/2023
- by Agency News Desk
- GlamSham
San Francisco, July 15 (Ians) Bitcoin prices nosedived on Saturday after leading cryptocurrency exchange Binance reportedly laid off roughly 1,000 workers, and the layoffs could continue.
Bitcoin slipped back nearly $30,000 per token after the news emerged late on Friday, which was first reported by the Wall Street Journal.
Bitcoin value suffered more than 2.7 per cent loss after the Binance layoff news.
As per the WSJ’s report, Binance could let go of up to one-third of its workforce, which was nearly 8,000 prior to the start of layoffs.
A Binance spokesperson told Forbes it has “become clear” to the company that it “needs to focus on talent density across the organisation to ensure we remain nimble and dynamic” as it prepares for the “next major bull cycle.”
The US Securities and Exchange Commission (SEC) is separately suing Binance and Coinbase.
Last month, the US regulator sued Binance, its CEO Changpeng Zhao and Bam...
Bitcoin slipped back nearly $30,000 per token after the news emerged late on Friday, which was first reported by the Wall Street Journal.
Bitcoin value suffered more than 2.7 per cent loss after the Binance layoff news.
As per the WSJ’s report, Binance could let go of up to one-third of its workforce, which was nearly 8,000 prior to the start of layoffs.
A Binance spokesperson told Forbes it has “become clear” to the company that it “needs to focus on talent density across the organisation to ensure we remain nimble and dynamic” as it prepares for the “next major bull cycle.”
The US Securities and Exchange Commission (SEC) is separately suing Binance and Coinbase.
Last month, the US regulator sued Binance, its CEO Changpeng Zhao and Bam...
- 7/15/2023
- by Agency News Desk
- GlamSham
New Delhi, July 11 (Ians) As the world of cryptocurrency tumbles down amid regulatory crackdowns, there are 19 individuals in the world who achieved the title of a billionaire through cryptocurrency.
One cryptocurrency in particular that has led to investors amassing impressive returns is Bitcoin.
Satoshi Nakamoto, the pseudonym for the creator of Bitcoin, is widely assumed to have the most Bitcoin wealth. Though the creator has not officially revealed the amount of Bitcoin he holds, estimates predict he has a wallet containing around 1.1 million Btc, according to data shared by niche news publisher BanklessTimes.com.
This would convert to a staggering around $25 billion.
“Following Nakamoto is Changpeng Zhao, commonly known as Cz who is the founder and CEO of Binance, with a total of $65 billion. Prior to Sam Bankman-Fried’s scandal, he took third position with a total of $24 billion,” the report showed.
Looking at the landscape of Btc investing across countries,...
One cryptocurrency in particular that has led to investors amassing impressive returns is Bitcoin.
Satoshi Nakamoto, the pseudonym for the creator of Bitcoin, is widely assumed to have the most Bitcoin wealth. Though the creator has not officially revealed the amount of Bitcoin he holds, estimates predict he has a wallet containing around 1.1 million Btc, according to data shared by niche news publisher BanklessTimes.com.
This would convert to a staggering around $25 billion.
“Following Nakamoto is Changpeng Zhao, commonly known as Cz who is the founder and CEO of Binance, with a total of $65 billion. Prior to Sam Bankman-Fried’s scandal, he took third position with a total of $24 billion,” the report showed.
Looking at the landscape of Btc investing across countries,...
- 7/11/2023
- by Agency News Desk
- GlamSham
New Delhi, July 7 (Ians) The venture funding in the cryptocurrency space dropped further to $2.34 billion in the second quarter (Q2) globally amid strict regulatory environment around various top-notch crypto exchanges.
It was the fifth consecutive quarter when crypto funding nosedived, according to a report in TechCrunch.
The $2.34 billion were raised across 382 deals, according to PitchBook data.
In comparison, the crypto industry had garnered $12.14 billion in the first quarter of 2022.
The biggest raises during Q2 2023 were LayerZero’s $120 million Series B round and Worldcoin’s $115 million Series C round.
“This decline in capital deployment could be attributed to regulatory headwinds in the US,” the report noted.
US regulators sued Binance and its CEO Changpeng Zhao last month for allegedly operating a “web of deception” and filed 13 charges in a federal court.
Binance was also ordered by Belgium’s Financial Services and Markets Authority (Fsma) to immediately cease all offers of virtual currency services in the country.
It was the fifth consecutive quarter when crypto funding nosedived, according to a report in TechCrunch.
The $2.34 billion were raised across 382 deals, according to PitchBook data.
In comparison, the crypto industry had garnered $12.14 billion in the first quarter of 2022.
The biggest raises during Q2 2023 were LayerZero’s $120 million Series B round and Worldcoin’s $115 million Series C round.
“This decline in capital deployment could be attributed to regulatory headwinds in the US,” the report noted.
US regulators sued Binance and its CEO Changpeng Zhao last month for allegedly operating a “web of deception” and filed 13 charges in a federal court.
Binance was also ordered by Belgium’s Financial Services and Markets Authority (Fsma) to immediately cease all offers of virtual currency services in the country.
- 7/7/2023
- by Agency News Desk
- GlamSham
New York, June 14 (Ians) A US judge has urged the Securities and Exchange Commission (SEC) to reach a settlement with crypto exchange Binance to let it continue operating in the US.
The New York Times reported that Judge Amy Berman Jackson of the US District Court for the District of Columbia asked the two sides to reach a compromise over the asset freeze.
She ordered both the parties to continue negotiating and submit a status update by Thursday.
The judge also expressed skepticism about the SEC’s use of its enforcement powers to regulate the crypto industry, calling it “inefficient and cumbersome”.
At the end of the hearing, she suggested both sides come to an agreement on the SEC’s request to freeze assets as soon as possible.
Last week, the US regulator sued leading crypto exchange Binance, its CEO Changpeng Zhao and Bam Trading and Bam Management over allegedly...
The New York Times reported that Judge Amy Berman Jackson of the US District Court for the District of Columbia asked the two sides to reach a compromise over the asset freeze.
She ordered both the parties to continue negotiating and submit a status update by Thursday.
The judge also expressed skepticism about the SEC’s use of its enforcement powers to regulate the crypto industry, calling it “inefficient and cumbersome”.
At the end of the hearing, she suggested both sides come to an agreement on the SEC’s request to freeze assets as soon as possible.
Last week, the US regulator sued leading crypto exchange Binance, its CEO Changpeng Zhao and Bam Trading and Bam Management over allegedly...
- 6/14/2023
- by Agency News Desk
- GlamSham
New Delhi, June 11 (Ians) The lawsuits against top crypto exchanges Binance and Coinbase by the US Securities and Exchange Commission (SEC) have not been able to severely impact the price of Bitcoin which is the largest cryptocurrency, and other digital coins.
Bitcoin, the largest cryptocurrency by market capitalisation, hovered around $26,500 per digital coin this week as investors remained largely unstirred by the SEC lawsuits.
The leading cryptocurrency took an initial dive below $26,000 on Tuesday but held steady above the threshold throughout the week, with analysts suggesting that investors had already priced in the actions, according to Coindesk.
“It’s hard to imagine a tougher regulatory situation facing the digital asset industry in the United States than what’s happening right now,” Andrew Lawrence, co-founder and CEO of onchain custody platform Censo, was quoted as saying.
“It can feel pretty bleak, and yet there’s been a tremendous resilience shown by...
Bitcoin, the largest cryptocurrency by market capitalisation, hovered around $26,500 per digital coin this week as investors remained largely unstirred by the SEC lawsuits.
The leading cryptocurrency took an initial dive below $26,000 on Tuesday but held steady above the threshold throughout the week, with analysts suggesting that investors had already priced in the actions, according to Coindesk.
“It’s hard to imagine a tougher regulatory situation facing the digital asset industry in the United States than what’s happening right now,” Andrew Lawrence, co-founder and CEO of onchain custody platform Censo, was quoted as saying.
“It can feel pretty bleak, and yet there’s been a tremendous resilience shown by...
- 6/11/2023
- by Agency News Desk
- GlamSham
Washington, June 7 (Ians) A Day after suing crypto exchange Binance, the US Securities and Exchange Commission (SEC) on Wednesday charged Coinbase with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency.
The SEC also charged Coinbase for failing to register the offer and sale of its crypto asset staking-as-a-service programme.
According to the SEC’s complaint, Coinbase has made billions of dollars unlawfully facilitating the buying and selling of crypto asset securities.
“We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chair Gary Gensler.
According to the complaint, Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC.
The SEC alleged that Coinbase intertwines the traditional services of an exchange, broker,...
The SEC also charged Coinbase for failing to register the offer and sale of its crypto asset staking-as-a-service programme.
According to the SEC’s complaint, Coinbase has made billions of dollars unlawfully facilitating the buying and selling of crypto asset securities.
“We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chair Gary Gensler.
According to the complaint, Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC.
The SEC alleged that Coinbase intertwines the traditional services of an exchange, broker,...
- 6/6/2023
- by Agency News Desk
- GlamSham
San Francisco, June 6 (Ians) The US Securities and Exchange Commission (SEC) has sued leading crypto exchange Binance, its CEO Changpeng Zhao and Bam Trading and Bam Management over allegedly mishandling funds and lying to regulators.
In a federal lawsuit, the regulator filed 13 charges against the defendants.
“Defendants unlawfully solicited US investors to buy, sell, and trade crypto asset securities through unregistered trading platforms available online at binance.com and Binance.US,” the lawsuit read.
“Defendants have engaged in multiple unregistered offers and sales of crypto asset securities and other investment schemes,’ it added.
The lawsuit said that behind the scenes, “Zhao and Binance were intimately involved in directing Bam Trading’s US business operations and providing and maintaining the crypto asset services of the Binance.US Platform”.
In a blog post, Binance said late on Monday that they are disappointed that the SEC “chose to file a complaint against Binance seeking,...
In a federal lawsuit, the regulator filed 13 charges against the defendants.
“Defendants unlawfully solicited US investors to buy, sell, and trade crypto asset securities through unregistered trading platforms available online at binance.com and Binance.US,” the lawsuit read.
“Defendants have engaged in multiple unregistered offers and sales of crypto asset securities and other investment schemes,’ it added.
The lawsuit said that behind the scenes, “Zhao and Binance were intimately involved in directing Bam Trading’s US business operations and providing and maintaining the crypto asset services of the Binance.US Platform”.
In a blog post, Binance said late on Monday that they are disappointed that the SEC “chose to file a complaint against Binance seeking,...
- 6/6/2023
- by Agency News Desk
- GlamSham
There was a moment, late last fall, when Changpeng Zhao seemed like the smartest guy in crypto.
The news was sudden and definitive: Binance, Zhao’s international trading post, announced plans to buy its biggest rival, Ftx, led by the young American Sam Bankman-Fried, or Sbf. It looked like a world-historic chess move. Not only was Bankman-Fried giving up on his once-ascendant businesses — he was actually bending the knee, selling whatever was left of the apparently ailing Ftx for scrap.
Then, as quickly as the deal was announced, it evaporated.
The news was sudden and definitive: Binance, Zhao’s international trading post, announced plans to buy its biggest rival, Ftx, led by the young American Sam Bankman-Fried, or Sbf. It looked like a world-historic chess move. Not only was Bankman-Fried giving up on his once-ascendant businesses — he was actually bending the knee, selling whatever was left of the apparently ailing Ftx for scrap.
Then, as quickly as the deal was announced, it evaporated.
- 6/3/2023
- by Will Gottsegen
- Rollingstone.com
San Francisco, May 15 (Ians) Leading blockchain and cryptocurrency platform Binance has announced its exit from the Canadian marketplace due to new stablecoin and investor limits in the country.
“We are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace,” the company said in a tweet.
“We had high hopes for the rest of the Canadian blockchain industry. Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time,” it added.
The cryptocurrency platform also stated that while it does not agree with the new regulations, it hopes to continue working with Canadian regulators to develop a regulatory framework for cryptocurrencies.
According to CoinDesk, the Canadian Securities Administrators (CSA) issued new guidance in February prohibiting crypto asset trading platforms in the country from allowing customers to buy or deposit...
“We are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace,” the company said in a tweet.
“We had high hopes for the rest of the Canadian blockchain industry. Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time,” it added.
The cryptocurrency platform also stated that while it does not agree with the new regulations, it hopes to continue working with Canadian regulators to develop a regulatory framework for cryptocurrencies.
According to CoinDesk, the Canadian Securities Administrators (CSA) issued new guidance in February prohibiting crypto asset trading platforms in the country from allowing customers to buy or deposit...
- 5/15/2023
- by Agency News Desk
- GlamSham
The big ship of Binance finds itself in troubled waters on Monday when the US Commodity Futures Trading Commission (Cftc) sued Binance CEO and founder Changpeng Zhao for ‘wilful evasion’.
Serious Allegations of “Wilful Evasion”
The Cftc leveled serious allegations on Binance for operating an “illegal” exchange and a “sham” compliance regime. Apart from the CEO of Binance, the Cftc also sued a former Binance top compliance executive with “willful evasion” of US laws. The Cftc went on to allege that Binance and its top officials engaged in a calculated strategy of regulatory arbitrage to their commercial benefit.
Following the development, Binance’s premier cryptocurrency Bnb, which is the fourth largest cryptocurrency in the world by market capitalization, fell by around 4%.
Binance Founder Feels “Disappointed”
Binance CEO and founder, Changpeng Zhao, expressed his disappointment over the recent allegations by the Cftc.
The billionaire, who hailed from China, moved to Canada...
Serious Allegations of “Wilful Evasion”
The Cftc leveled serious allegations on Binance for operating an “illegal” exchange and a “sham” compliance regime. Apart from the CEO of Binance, the Cftc also sued a former Binance top compliance executive with “willful evasion” of US laws. The Cftc went on to allege that Binance and its top officials engaged in a calculated strategy of regulatory arbitrage to their commercial benefit.
Following the development, Binance’s premier cryptocurrency Bnb, which is the fourth largest cryptocurrency in the world by market capitalization, fell by around 4%.
Binance Founder Feels “Disappointed”
Binance CEO and founder, Changpeng Zhao, expressed his disappointment over the recent allegations by the Cftc.
The billionaire, who hailed from China, moved to Canada...
- 4/1/2023
- by Technology Martin Cid Magazine
- Martin Cid Tech
San Francisco, Dec 30 (Ians) An anonymous Twitter user has acquired around 1,00,000 aapplication programming interface (Api) keys belonging to users of crypto trading service, 3Commas.
More than 10,000 of the keys were released by the leaker who the rest “will be published full [sic] randomly in the upcoming days”, CoinDesk reported.
In a tweet on Thursday, 3Commas CEO Yuriy Sorokin confirmed the authenticity of the leak and said that “as an immediate action, we have asked that Binance, KuCoin, and other supported exchanges revoke all the [Api] keys that were connected to 3Commas”.
Sorokin also mentioned that he and his company “did everything that we could to investigate an inside job, as it was always a possible scenario and on our watch list, but proof of an inside job was not found”.
The leak follows claims made by dozens of 3Commas users that their Api keys were used to perform trades on exchanges like Binance,...
More than 10,000 of the keys were released by the leaker who the rest “will be published full [sic] randomly in the upcoming days”, CoinDesk reported.
In a tweet on Thursday, 3Commas CEO Yuriy Sorokin confirmed the authenticity of the leak and said that “as an immediate action, we have asked that Binance, KuCoin, and other supported exchanges revoke all the [Api] keys that were connected to 3Commas”.
Sorokin also mentioned that he and his company “did everything that we could to investigate an inside job, as it was always a possible scenario and on our watch list, but proof of an inside job was not found”.
The leak follows claims made by dozens of 3Commas users that their Api keys were used to perform trades on exchanges like Binance,...
- 12/30/2022
- by News Bureau
- GlamSham
New Delhi, Dec 15 (Ians) Amid the Ftx collapse saga, customers withdrew 1.14 billion in just 12 hours from leading crypto exchange Binance and according to its CEO, the massive withdrawals were “handled with ease” and “things seem to have stabilised” now.
Customers pulled billions of dollars of funds from the exchange, amid fears about the state of the cryptocurrency industry following the collapse of Ftx and arrest of its former CEO, Sam Bankman-Fried (Sbf), from the Bahamas by the US authorities.
Changpeng Zhao tweeted that this was “not the highest withdrawals we processed, not even top 5”.
The CEO said deposits are returning to Binance.
“Things seem to have stabilized. Yesterday was not the highest withdrawal we processed, not even top 5. We processed more during Luna or Ftx crashes. Now deposits are coming back in,” he tweeted on Wednesday.
“We saw some withdrawals today (net 1.14b ish). We have seen this before. Some...
Customers pulled billions of dollars of funds from the exchange, amid fears about the state of the cryptocurrency industry following the collapse of Ftx and arrest of its former CEO, Sam Bankman-Fried (Sbf), from the Bahamas by the US authorities.
Changpeng Zhao tweeted that this was “not the highest withdrawals we processed, not even top 5”.
The CEO said deposits are returning to Binance.
“Things seem to have stabilized. Yesterday was not the highest withdrawal we processed, not even top 5. We processed more during Luna or Ftx crashes. Now deposits are coming back in,” he tweeted on Wednesday.
“We saw some withdrawals today (net 1.14b ish). We have seen this before. Some...
- 12/15/2022
- by Glamsham Bureau
- GlamSham
Exclusive: Disgraced crypto entrepreneur Sam Bankman-Fried is to be profiled in a documentary feature for web3 streaming platform Myco.
Produced by Decrypt Studios, the as-yet-untitled doc will chart the rise and fall of the Ftx Founder once worth 24B who was arrested in The Bahamas earlier this week for “financial offences.”
Airing next year, the feature will include interview footage of Bankman-Fried as well as key Ftx executives and rival Binance Founder Changpeng Zhao, whose single tweet was the beginning of the end for Ftx and its sister company Almeda. The documentary will also chart the wider market impacts of the collapse of Ftx.
The scandal has already attracted the interest of the Russo Brothers, who are making an eight-part limited series on Ftx for Amazon with Hunters creator David Weil.
The doc “shows our ambition as a content business to back ambitious factual storytelling from top tier partners,” according to Myco Cco Phil McKenzie.
Produced by Decrypt Studios, the as-yet-untitled doc will chart the rise and fall of the Ftx Founder once worth 24B who was arrested in The Bahamas earlier this week for “financial offences.”
Airing next year, the feature will include interview footage of Bankman-Fried as well as key Ftx executives and rival Binance Founder Changpeng Zhao, whose single tweet was the beginning of the end for Ftx and its sister company Almeda. The documentary will also chart the wider market impacts of the collapse of Ftx.
The scandal has already attracted the interest of the Russo Brothers, who are making an eight-part limited series on Ftx for Amazon with Hunters creator David Weil.
The doc “shows our ambition as a content business to back ambitious factual storytelling from top tier partners,” according to Myco Cco Phil McKenzie.
- 12/15/2022
- by Max Goldbart and Jesse Whittock
- Deadline Film + TV
San Francisco, Nov 23 (Ians) Binance CEO Changpeng Zhao has stated that the company is targeting to hire 8,000 people by the end of the year.
“At the time of this tweet , @Binance had 5900 people. Today we have 7400+ people. Targeting 8000 or so by end of year. Hiring continues,” he tweeted.
Changpeng also highlighted an older tweet from June 15 that stated: “It was not easy saying no to Super Bowl ads, stadium naming rights, and large sponsor deals a few months ago, but we did”. It was a job posting for 2,000 positions.
Binance’s renewed call for hiring comes days after Changpeng took a U-turn on acquiring its rival Ftx, saying it was backing out of the deal after reviewing the company’s finances, leading to a further fall in major cryptocurrencies.
In a tweet, the company said that as a result of corporate due diligence, “as well as the latest news reports...
“At the time of this tweet , @Binance had 5900 people. Today we have 7400+ people. Targeting 8000 or so by end of year. Hiring continues,” he tweeted.
Changpeng also highlighted an older tweet from June 15 that stated: “It was not easy saying no to Super Bowl ads, stadium naming rights, and large sponsor deals a few months ago, but we did”. It was a job posting for 2,000 positions.
Binance’s renewed call for hiring comes days after Changpeng took a U-turn on acquiring its rival Ftx, saying it was backing out of the deal after reviewing the company’s finances, leading to a further fall in major cryptocurrencies.
In a tweet, the company said that as a result of corporate due diligence, “as well as the latest news reports...
- 11/23/2022
- by Glamsham Bureau
- GlamSham
Click here to read the full article.
Investors have sued Ftx founder Sam Bankman-Fried and a host of celebrities who promoted the crypto platform, including Larry David, Tom Brady and Stephen Curry.
The proposed class action alleges that Ftx was a “Ponzi scheme” that fraudulently shuffled customer funds between its affiliated entities. It accuses the company and its endorsers of promoting unregistered securities.
“Part of the scheme employed by the Ftx Entities involved utilizing some of the biggest names in sports and entertainment — like these Defendants — to raise funds and drive American consumers to invest,” reads the complaint filed on Tuesday night in Florida federal court.
Other celebrities named in the complaint include Gisele Bundchen, Shaquille O’Neal and Naomi Osaka. They all appeared in ads for Ftx. In one commercial, Curry repeatedly denies being cast as an expert in cryptocurrency but says “I don’t need to be. With Ftx...
Investors have sued Ftx founder Sam Bankman-Fried and a host of celebrities who promoted the crypto platform, including Larry David, Tom Brady and Stephen Curry.
The proposed class action alleges that Ftx was a “Ponzi scheme” that fraudulently shuffled customer funds between its affiliated entities. It accuses the company and its endorsers of promoting unregistered securities.
“Part of the scheme employed by the Ftx Entities involved utilizing some of the biggest names in sports and entertainment — like these Defendants — to raise funds and drive American consumers to invest,” reads the complaint filed on Tuesday night in Florida federal court.
Other celebrities named in the complaint include Gisele Bundchen, Shaquille O’Neal and Naomi Osaka. They all appeared in ads for Ftx. In one commercial, Curry repeatedly denies being cast as an expert in cryptocurrency but says “I don’t need to be. With Ftx...
- 11/16/2022
- by Winston Cho
- The Hollywood Reporter - Movie News
New Delhi, Nov 10 (Ians) World’s largest crypto exchange Binance on Thursday took a U-turn on acquiring its rival Ftx, saying it was backing out of the deal after reviewing the company’s finances, leading to further fall in major cryptocurrencies.
Binance on Tuesday signed a non-binding, letter of intent to purchase Ftx for an undisclosed sum.
In a tweet, the company said that as a result of corporate due diligence, “as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of Ftx”.
“Every time a major player in an industry fails, retail consumers will suffer,” Binance said.
“We have seen over the last several years that the crypto ecosystem is becoming more resilient and we believe in time that outliers that misuse user funds will be weeded out by the free market,...
Binance on Tuesday signed a non-binding, letter of intent to purchase Ftx for an undisclosed sum.
In a tweet, the company said that as a result of corporate due diligence, “as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of Ftx”.
“Every time a major player in an industry fails, retail consumers will suffer,” Binance said.
“We have seen over the last several years that the crypto ecosystem is becoming more resilient and we believe in time that outliers that misuse user funds will be weeded out by the free market,...
- 11/10/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Nov 9 (Ians) Leading cryptocurrency exchange Coinbase has clarified that it only has 15 million worth of deposits on Ftx to facilitate business operations and client trades, as it faced a partial outage.
In its bid to provide clarity, the company said regardless of whether the Binance and Ftx transaction completes, “we have very little exposure to Ftx and we have no exposure to its token, Ftt”.
“We have no exposure to Alameda Research, and we have no loans to Ftx,” Coinbase said in a blog post late on Tuesday.
The clarification came as Binance on Tuesday announced a non-binding, letter of intent to acquire Ftx for an undisclosed sum. Binance founder and CEO Changpeng Zhao (Cz) said in a tweet thread that Ftx asked for their help.
Binance and Ftx teams were working on clearing out the withdrawal backlog.
Coinbase further said that as a publicly traded company in the US,...
In its bid to provide clarity, the company said regardless of whether the Binance and Ftx transaction completes, “we have very little exposure to Ftx and we have no exposure to its token, Ftt”.
“We have no exposure to Alameda Research, and we have no loans to Ftx,” Coinbase said in a blog post late on Tuesday.
The clarification came as Binance on Tuesday announced a non-binding, letter of intent to acquire Ftx for an undisclosed sum. Binance founder and CEO Changpeng Zhao (Cz) said in a tweet thread that Ftx asked for their help.
Binance and Ftx teams were working on clearing out the withdrawal backlog.
Coinbase further said that as a publicly traded company in the US,...
- 11/9/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Nov 8 (Ians) Leading crypto exchange Binance on Tuesday announced a non-binding, letter of intent to acquire its rival Ftx for an undisclosed sum in a surprise development.
Binance founder and CEO Changpeng Zhao (Cz) said in a tweet thread that Ftx asked for their help.
“There is a significant liquidity crunch. To protect users, we signed a non-binding Loi (letter of intent), intending to fully acquire Ftx.com and help cover the liquidity crunch. We will be conducting a full Dd in the coming days,” Zhao posted.
Bnb (Binance coin) rose to 370, an increase of 12 per cent in one hour and Ftt (Ftx coin) rose to a maximum of 22, an increase of 37 per cent in one hour.
Bitcoin bounced back to 20,143 and Eth to 1,535.
Zhao further said that there is a lot to cover and will take some time.
“This is a highly dynamic situation, and we are...
Binance founder and CEO Changpeng Zhao (Cz) said in a tweet thread that Ftx asked for their help.
“There is a significant liquidity crunch. To protect users, we signed a non-binding Loi (letter of intent), intending to fully acquire Ftx.com and help cover the liquidity crunch. We will be conducting a full Dd in the coming days,” Zhao posted.
Bnb (Binance coin) rose to 370, an increase of 12 per cent in one hour and Ftt (Ftx coin) rose to a maximum of 22, an increase of 37 per cent in one hour.
Bitcoin bounced back to 20,143 and Eth to 1,535.
Zhao further said that there is a lot to cover and will take some time.
“This is a highly dynamic situation, and we are...
- 11/8/2022
- by Glamsham Bureau
- GlamSham
San Francisco, Nov 2 (Ians) Leading cryptocurrency exchange Binance’s CEO Changpeng Zhao has said that his company invested 500 million in Elon Musk’s Twitter because he is “extremely supportive” of free speech.
Zhao, famously known as Cz, told an audience at the Web Summit in Lisbon that “when we invest in a deal, we’re very comfortable if the deal goes through. We’re very comfortable if the deal doesn’t go through. We always want to get to a point where we’re in that position”.
“Number one is that we want to be extremely supportive of free speech,” he said. “Twitter is an important free speech platform.”
Zhao admitted that he was “honestly” a “little bit surprised” when the deal finally went through as Musk is a “pretty hard guy for me to predict”.
“I’m a heavy Twitter user,” added the Binance CEO.
Zhao also sees Twitter...
Zhao, famously known as Cz, told an audience at the Web Summit in Lisbon that “when we invest in a deal, we’re very comfortable if the deal goes through. We’re very comfortable if the deal doesn’t go through. We always want to get to a point where we’re in that position”.
“Number one is that we want to be extremely supportive of free speech,” he said. “Twitter is an important free speech platform.”
Zhao admitted that he was “honestly” a “little bit surprised” when the deal finally went through as Musk is a “pretty hard guy for me to predict”.
“I’m a heavy Twitter user,” added the Binance CEO.
Zhao also sees Twitter...
- 11/2/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Oct 8 (Ians) World’s largest cryptocurrency exchange Binance has confirmed that hackers have stolen more than 100 million from its platform.
The Binance Blockchain, also known as Bnb Chain, said that a total of 2 million Bnb tokens — worth nearly 568 million — were initially stolen by the hacker.
However, the company suspended the Bmb Chain which resulted in more than 100 million being vanished, while the rest of the tokens couldn’t be transferred by the cybercriminals.
Binance CEO Changpeng Zhao said in a tweet that the company estimates the impact of the breach to be between 100 million and 110 million.
“The issue is contained now. Your funds are safe. We apologise for the inconvenience and will provide further updates accordingly,” Zhao posted late on Friday.
The exploit was through a sophisticated forging of the low-level proof into one common library.
The company said that it will give 1 million for each significant bug...
The Binance Blockchain, also known as Bnb Chain, said that a total of 2 million Bnb tokens — worth nearly 568 million — were initially stolen by the hacker.
However, the company suspended the Bmb Chain which resulted in more than 100 million being vanished, while the rest of the tokens couldn’t be transferred by the cybercriminals.
Binance CEO Changpeng Zhao said in a tweet that the company estimates the impact of the breach to be between 100 million and 110 million.
“The issue is contained now. Your funds are safe. We apologise for the inconvenience and will provide further updates accordingly,” Zhao posted late on Friday.
The exploit was through a sophisticated forging of the low-level proof into one common library.
The company said that it will give 1 million for each significant bug...
- 10/8/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Sep 6 (Ians) Tesla and SpaceX CEO Elon Musk on Tuesday again hit out at Twitter, saying 90 per cent of the comments on his tweets are actually bots or spam replies.
Musk shared screenshots of replies by the fake Twitter account of Changpeng Zhao, Founder and CEO of leading crypto exchange Binance.
“And 90 per cent of my comments are bots,” he said in a tweet.
A follower asked Musk: “Do you think the number of likes you get has a similar proportion of bots vs humans at 90?”
Earlier this month, Musk went after Parag Agrawal-led platform after a top cybersecurity expert claimed that as high as eight in 10 Twitter accounts are fake.
Dan Woods, Global Head of Intelligence at cybersecurity company F5, told The Australian that more than 80 per cent of Twitter accounts are probably bots — a massive claim as Twitter says only 5 per cent of its users are bots/spams.
Musk shared screenshots of replies by the fake Twitter account of Changpeng Zhao, Founder and CEO of leading crypto exchange Binance.
“And 90 per cent of my comments are bots,” he said in a tweet.
A follower asked Musk: “Do you think the number of likes you get has a similar proportion of bots vs humans at 90?”
Earlier this month, Musk went after Parag Agrawal-led platform after a top cybersecurity expert claimed that as high as eight in 10 Twitter accounts are fake.
Dan Woods, Global Head of Intelligence at cybersecurity company F5, told The Australian that more than 80 per cent of Twitter accounts are probably bots — a massive claim as Twitter says only 5 per cent of its users are bots/spams.
- 9/6/2022
- by Glamsham Bureau
- GlamSham
New Delhi/Beijing, July 5 (Ians) In what could be the biggest-ever data breach, sensitive personal information about more than a billion people has been leaked from a government agency, possibly from China, and put up for sale on Dark Web for 10 Bitcoins. Changpeng Zhao, CEO of cryptocurrency exchange Binance, tweeted that their threat intelligence […]...
- 7/5/2022
- by Glamsham Bureau
- GlamSham
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.