Business Financial News

12.12 / 23:47

business Mining Bankruptcy reports Argo Blockchain reports insufficient funds, 'no assurance' it can avoid Chapter 11 bankruptcy

Crypto mining firm Argo Blockchain has reported it had been negotiating to sell assets and “engage in an equipment financing transaction” in an effort to avoid filing for bankruptcy.

12.12 / 21:35

business Government Blockchain Bitcoin Bitcoin could reach $1M in 5 years due to fiat currencies’ collapse, says Samson Mow

Despite the ongoing bear market, Jan3 CEO and Bitcoin (BTC) proponent Samson Mow believes that the leading cryptocurrency could reach the $1-million-price benchmark in the next five to 10 years. The collapse of major fiat currencies will be a major catalyst, which he said can “happen very rapidly” and “are not anticipated.”

12.12 / 19:47

business Blockchain defi Congress Fried Sam us house services committee Financial Sam Bankman-Fried says he will testify before the US House Financial Services Committee remotely

Continuing his so-called apology tour, Sam Bankman-Fried appeared on a Twitter Spaces chat with Unusual Whales and told nearly 60,000 listeners that he intends to testify at the United States House of Representatives Financial Services Committee remotely on Dec. 13. He was previously confirmed to appear in person.

12.12 / 18:31

business Blockchain Binance US DoJ US DOJ split over charging Binance in the 2018 AML investigation: Report

The United States Department of Justice (DOJ) is nearing the completion of its investigation into cryptocurrency exchange Binance, which started in 2018. A report from Reuters suggests there is a conflict among US prosecutors over whether the gathered evidence is enough to press criminal charges against the crypto exchange and its executive or not.

12.12 / 11:15

business Paxful Bitcoin Paxful CEO preaches Bitcoin self-custody, advises against crypto exchange

The case for self-custody grows stronger as investors demand evidence of their assets over crypto exchanges. While some CEOs chose to double down on assuring the funds’ safety on their platforms, Ray Youssef, the CEO of crypto exchange Paxful, sided with the idea of self-custody as he took responsibility for over 11 million users.

12.12 / 08:47

business NFT supply Analysis NFT market held back by oversupply, greed and bad projects: Gary Vee

Popular entrepreneur and NFT proponent Gary Vaynerchuck — also known as Gary Vee — has argued that oversupply, greed and subpar projects are the main reasons the NFT market fell so hard over the past year.

12.12 / 08:05

business Twitter Social Media Bitcoin Crypto spam bots go silent as Musk promises to prosecute scammers

Elon Musk's latest salvo in his war against crypto spam bots on Twitter appears to have made a real impact, with the crypto community reporting a vast reduction in the number of bots responding to their posts.

12.12 / 06:07

business interview FTX Congress hearing SBF wants to start a new business, officially added as hearing witness

The founder and former CEO of bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried, said he’d be interested in forming a new venture aimed at paying back the customers he owes money to.

12.12 / 01:05

business hacks phishing 3Commas denies staff members stole API keys

Crypto trading firm 3Commas denied its employees' stolen user's API keys, claiming the screenshots circulating on social media are fake, and urged affected users to file a police report in order to stop withdrawals in exchanges.

11.12 / 22:53

business Binance Bitcoin reserves Binance's proof-of-reserves raises red flags: Report

Binance's efforts to improve transparency of its reserves also exposed red flags in the crypto exchange's finances, according to accounting and financial specialists consulted by The Wall Street Journal.

11.12 / 20:03

business Law SEC Bankruptcy SEC crypto Former top SEC crypto regulator hired by Caroline Ellison

A former top crypto regulator in the United States Securities and Exchange Commission (SEC) will represent Caroline Ellison, ex-Alameda Research CEO, in an ongoing federal probe, according to a report from Bloomberg on Dec. 10.

11.12 / 14:05

business Binance Hackers hacks NOT Abnormal token price movements on Binance not hack-related, confirms CZ

Crypto exchange Binance began investigating suspicious behavior on its platform after noticing abnormal price movements for certain trading pairs involving Sun Token (SUN), Ardor (ARDR), Osmosis (OSMO), FUNToken (FUN) and Golem (GLM) tokens. Nearly 40 minutes into the investigation, Binance CEO Changpeng ‘CZ’ Zhao revealed that the price movements “appears to be just market behavior.”

11.12 / 11:11

business Investments Court investigation FTT investors' claims to be investigated for securities laws violations

To help out the recently duped investors of FTX Tokens (FTT), shareholder rights litigation firm — Schall Law Firm — has taken up the task of investigating the investors’ claims against FTX for violations of the securities laws.

11.12 / 08:15

business Law FTX Stanford University Sam Sam Bankman-Fried’s parents no longer on the Stanford Law School roster

The domino effect of FTX CEO Sam Bankman-Fried’s actions came full circle as his reputation began impacting the professional lives of his parents — Stanford Law professors Joseph Bankman and Barbara Fried.

11.12 / 00:31

business Binance Tether FTX SBF tried to destabilize crypto market to save FTX: Report

Tether executives and Binance CEO Changpeng “CZ” Zhao worried that Sam Bankman-Fried (SBF), former FTX CEO, was attempting to destabilize the crypto market aiming to save the now-bankrupt exchange, according to reports on Dec. 9.

10.12 / 19:17

business Law NFT Digital Asset Yuga Labs, Moonpay faces lawsuit over celebrities NFT promotion

Yuga Labs, creators of Bored Ape Yacht Club (BAYC) and crypto fintech Moonpay are facing a class-action lawsuit for allegedly using celebrities to misleadingly promote and sell nonfungible tokens (NFTs).

10.12 / 11:13

business regulation investigation US DoJ US DOJ reportedly investigating FTX CEO for siphoning funds out of the US

While many crypto fraudsters were able to slip through the cracks in the past, the same does not hold for FTX CEO Sam Bankman-Fried (SBF). Running parallel to the ongoing scrutiny related to FTX frauds, the United States Department of Justice (DOJ) is reportedly investigating a potential fraud that involves SBF siphoning funds offshore just days before FTX filed for bankruptcy.

10.12 / 08:17

business Blockchain Amazon Google International Customers Bahamian attorneys pursue access to FTX data of international customers

Authorities across the globe are fighting against time to bring justice to the millions of people impacted by the financial frauds committed by FTX CEO Sam Bankman-Fried. As part of the ongoing investigations, attorneys representing the Securities Commission of the Bahamas seek access to FTX’s database with international customer information.

10.12 / 06:35

business Ethereum cryptocurrency Bitcoin price today Top Cryptocurrency Prices Today December 10: Major cryptos in red; Ether down 2%, Polkadot top laggard

Major cryptocurrencies traded in the red early on December 10 as the global crypto market cap decreased 0.65 percent to $854.00 billion, over the last day. The total crypto market volume over the last 24 hours is $34.13 billion, which makes a 9.32 percent decrease.

10.12 / 04:55

business Investments Lessons we learned from the Terraform-FTX implosions

In May 2022, Terraform Labs’ LUNA cryptocurrency and TerraUSD (UST) stablecoin collapsed, triggering a massive shock in the crypto industry. Six months later, the bruised industry took another hammering as one of the largest cryptocurrency exchanges, FTX, filed for bankruptcy protection and billions of dollars of user assets went missing. The FTX empire, once valued at more than $30 billion, fell to zero in fewer than 10 days.

10.12 / 00:07

business Adoption Upgrade Bitcoin A year after Taproot, Bitcoin community works to unlock its DeFi potential

Taproot support across the industry is still crawling one year after the Bitcoin soft fork, indicating a strong potential for innovation and broader adoption of Web3 solutions to be unlocked through the world's largest cryptocurrency, sources told Cointelegraph.

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