Author: Mayowa Adenle

Article written by Mayowa Adenle

CEO of Coinbase, has accuses former FTX CEO SBF of using stolen customer money to fund his trading firm Alameda Research

December 6, 2022 1 min read

Brian Armstrong, CEO of Coinbase, has accused former FTX CEO Sam Bankman-Fried of using stolen customer money to fund his trading firm, Alameda Research. While Bankman-Fried continues to deny any wrongdoing, Armstrong believes that even very gullible people should not believe his claim that this was an accounting error. Armstrong said, “It’s stolen customer money used in his hedge fund, plain and simple.” Last month, Brian Armstrong, CEO of Coinbase,

Avalanche blockchain to support Alibaba Cloud’s infrastructure services in Asia

December 3, 2022 1 min read

Alibaba Cloud, a subsidiary of Chinese e-commerce giant Alibaba, has announced a cooperation with Avalanche blockchain to support the company’s Node-as-a-Service activities. Avalanche and Alibaba Cloud will collaborate to develop tools that will allow users to construct validator nodes on Avalanche’s public blockchain platform in Asia. The connection will allow Avalanche developers to use Alibaba Cloud’s plug-and-play infrastructure as a service to launch new validators. Developers who anticipate significant resource

Sam Bankman-Fried, former CEO of FTX, denies “improper use” of customer funds

December 2, 2022 2 mins read

On December 1, former FTX CEO Sam Bankman-Fried ‘SBF’ and George Stephanopoulos appeared on Good Morning America. SBF insisted during the interview that FTX was not a “Ponzi scheme,” but rather “a real business.” The former CEO also denied any knowledge of FTX customer deposits being used to pay Alameda Research’s creditors, as Alameda’s CEO Caroline Ellison allegedly claimed. He claimed he was unaware of “any improper use of customer

Brazil legalizes Bitcoin and Ethereum payments

December 1, 2022 1 min read

Brazil’s lower house of Congress has finally passed the long-awaited crypto bill, which legalizes cryptocurrency payments and allows banks to begin offering services in the sector. The Bill, which primarily seeks to regulate the country’s cryptocurrency sector, will now be presented to President Jair Bolsonaro for approval before his term expires on December 31. If passed, the law will require all cryptocurrency exchanges and other cryptocurrency custodians to obtain licenses.

SBF, Former FTX CEO believes FTT token is still “more legitimate” than most tokens

November 30, 2022 2 mins read

Citizen journalist Tiffany Fong published Sam Bankman-Fried’s first interview since FTX’s bankruptcy on YouTube on November 29. On November 16, the former CEO addressed a number of allegations leveled against him since the bankruptcy, as well as the state of FTX US clients. He also discussed FTT, the exchange’s native token, which he believes has more intrinsic value than most other cryptocurrencies. Wong started by questioning SBF about previous claims

FTX and Alameda owe BlockFi $1 billion, the bankruptcy court rules

November 30, 2022 2 mins read

The crypto lender has $355 million stuck on FTX, and the exchange’s sister company Alameda Research has defaulted on a $680 million loan, according to the first day hearing of its bankruptcy proceedings. BlockFi filed 15 motions on November 28 that were approved by the court in the first day hearing on November 29. It includes the redaction of personal information for its 50 largest creditors and the appointment of

BlockFi declares bankruptcy following the demise of FTX

November 29, 2022 2 mins read

Following the demise of FTX, BlockFi has officially declared bankruptcy, following several days of speculation about the company’s financial health and liquidity issues. BlockFi and eight of its affiliates filed for Chapter 11 bankruptcy protection on November 28. According to a BlockFi press release, the company has $256.9 million in cash on hand, which will be enough to support certain operations during the restructuring process. BlockFi has over 100,000 creditors,

An Australian fintech firm launches a stablecoin called AUDE

November 28, 2022 1 min read

According to a statement, Australian blockchain fintech startup Ettle Pty Ltd. has completed the first transaction on its recently launched Australian dollar-pegged stablecoin, AUDE. The AUDE transaction was completed between business clients for software development services on Ethereum, Algorand, and soon other Ethereum Virtual Machine compatible blockchains. In the first quarter of 2023, Ettle plans to make the stablecoin available to businesses seeking exposure to a digital Australian dollar. Stablecoins

Bybit exchange launches $100 million institutional support fund

November 25, 2022 1 min read

The last two weeks have seen a complete shakeup in the cryptocurrency industry as a result of the FTX crisis. Since they were presented with financial and/or operational difficulties, both traders and organizations have suffered greatly. Bybit, a well-known cryptocurrency exchange, said it recognizes and empathizes with these challenges. Bybits claims to have worked hard to offer products, opportunities, and next-level dependability as part of its goal of becoming the

The World Economic Forum invites Shiba Inu to participate in metaverse discussions

November 24, 2022 1 min read

Shiba Inu is invited to participate in discussions about the metaverse by the World Economic Forum. The Shiba Inu community had been eagerly anticipating Shibarium, the platform’s metaverse initiative. Despite receiving Shiba Eternity, they were forced to wait for what seemed like an eternity before they could begin their metaverse project. But Shiba Inu’s involvement in another metaverse project was just made known to the community. Lead developer Shytoshi Kusama

Crypto-related cybercrime will not slow down in 2023, but will shift away from Bitcoin as a payment method: Kaspersky

November 23, 2022 1 min read

According to the cybersecurity firm Kaspersky, crypto-related cybercrime will not slow down in 2023, but it will shift away from Bitcoin as a payment method. Bitcoin (BTC) is expected to become a less appealing payment option for cybercriminals as regulations and tracking technologies improve, limiting their ability to move funds safely. In a November 22 report, cybersecurity firm Kaspersky stated that ransomware negotiations and payments would rely less on Bitcoin

The Netherlands Public Prosecutor arrests a citizen for allegedly laundering money with bitcoin

November 22, 2022 1 min read

A man was arrested in the Netherlands for allegedly laundering money with bitcoin (BTC). Prosecutors claim there were links to dark web trading. According to a statement from the Fiscal Information and Investigation Service, the 42-year-old man from the municipality of Midden-Groningen was arrested on November 16. The investigation was launched after the man used several Bitcoin ATMs. An investigation revealed that the man had been making large volumes of