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The trial against FTX co-founder Sam Bankman-Fried has taken an intriguing turn with the testimony of Zac Prince, the CEO of defunct crypto lender BlockFi. His appearance in a Manhattan federal courtroom has provided valuable insights into the intricate relationship between BlockFi, FTX, and Alameda Research. This new information, revealed in a Bloomberg report, sheds
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A trader on Aave, a decentralized liquidity protocol, has recently started selling wrapped Bitcoin (WBTC) in order to repay their outstanding debt. This trader borrowed around $8 million worth of stablecoins on Aave v2 and deposited various assets including WBTC, Maker (MKR), and Ethereum (ETH) worth approximately $11 million. However, their health factor, a metric
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The U.S. Internal Revenue Service (IRS) recently proposed a rule that aims to establish clear tax payment procedures and precise definitions for cryptocurrency brokers and their clients. While the IRS’s intention is to increase transparency in the cryptocurrency industry and generate more tax revenue, Coinbase, the largest cryptocurrency exchange, strongly disagrees with this proposal. In
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Crypto investment firm Paradigm has recently taken a stand to support Binance in its bid to dismiss the U.S. Securities and Exchange Commission (SEC) lawsuit. Paradigm’s interest in the case lies in preserving the development of crypto technology within the United States and protecting other markets from unnecessary regulatory interference. An amicus brief, such as
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The FTX trial has taken an unexpected turn as Caroline Ellison, co-founder of FTX-linked hedge fund Alameda Research, reveals shocking details of alleged bribery involving Sam Bankman-Fried, the disgraced founder of FTX. Ellison testified on October 11 that Bankman-Fried paid $150 million in bribes to Chinese government officials in 2021, a significantly higher amount than
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In the fast-paced world of cryptocurrencies, Fox Business producer Eleanor Terrett has risen to prominence as a notable figure. However, with her growing recognition comes a downside: an increasing number of social media impersonators attempting to deceive her followers. Terrett finds herself constantly reminding her audience that she does not have a private profile and