The prosecution may wind up its case when Sam Bankman-Fried's trial resumes on October 26, after which SBF’s team will have a week to 10 days to present its case.
BlockFi told the court that the current upswing in the BTC mining sector makes it the ideal time to sell, with the judge approving a February 20 deadline for bids.
2022 witnessed the dashing dreams of BTC loyalists who called for the price to hit $100k, given their infallible plan to get rich by HODLing, while the Defi crowd got their time in the sun.
The DOJ is looking into the $372 million hack from FTX-controlled wallets that occurred the day after the embattled firm of former CEO Sam Bankman-Fried filed for Chapter 11 bankruptcy.
The defunct digital asset lender will only reopen withdrawals for Wallet Accounts, and just as with Celsius, users with interest-earning accounts won’t benefit.
The bankruptcy of digital asset lending/custodial platform BlockFi is the latest casualty of the FTX exchange’s collapse, while FTX’s founder continues his carefree existence in his alternative reality.
The FTX exchange may have filed for bankruptcy protection but there’s no real defense against the sector-wide carnage this scandal has unleashed.
The states, among them California, Oklahoma, and New York, ordered Nexo to halt its interest-earning product, which they claim is an unregistered security.
The risks of investing in the digital currency industry remain high as Fed continues to tighten its policies to counter inflation, while fear spreads among potential investors caused by manipulative platforms.
Gensler’s message for digital currency businesses was that although their platforms and services revolve around distributed ledger technology does not mean that existing securities laws do not apply.
The collapsing digital asset lender Vauld applied for a six-month moratorium, but the Singaporean judge ruled that this would impact supervision and monitoring.