Author: Coindesk
Singh, 29, who pleaded guilty to six criminal counts including wire fraud and conspiracy in February, is the fourth FTX executive to be sentenced for his role in the fraud. Bankman-Fried was sentenced to 25 years in prison in March for his role as ringleader. Former FTX Digital Markets CEO Ryan Salame, who did not testify against Bankman-Fried, recently began serving his 7.5 year prison sentence. And Caroline Ellison, former Alameda Research CEO and one-time girlfriend of Bankman-Fried, was sentenced to two years by the same judge, District Judge Lewis Kaplan of the Southern District of New York (SDNY), last…
“Really solid results across the board, I think quarter to quarter, you definitely see volatility playing a role in trading revenues and we saw that play out with softer market conditions in Q3 but we’re overall happy with the results,” Anil Gupta, vice president of investor relations, told CoinDesk. Read the full article here
Any potential CBDC issued by the Federal Reserve would be managed by private-sector banks, Fed officials have said, meaning some of the institutions represented in the advisory group. However, the political chances for U.S. CBDCs, which are strongly opposed by Republican lawmakers, remain dicey in the near term. Read the full article here
Liu Zhou, 39, said to be from China and Canada, will be sentenced early next year in federal court for “the wash trading of client cryptocurrencies across multiple cryptocurrency exchanges,” according to the DOJ. Wash trading refers to the artificial driving up of asset prices by suggesting a fake level of transaction interest. Read the full article here
In this week’s issue of The Protocol, our newsletter on blockchain tech, we’re covering the Optimism’s $42.5M token pledge to Kraken, crypto VC funding, grants for Bitcoin open-source developers, and Polymarket’s (negligible) impact on Polygon’s bottom line. Read the full article here
Termina, the SVM-as-a-Service platform by Nitro Labs, has raised a $4 million seed funding round, led by Lemniscap. [NOTE: SVM stands for Solana Virtual Machine — the operating environment for smart contracts on the Solana blockchain.) According to the team: “Recognizing the lack of SVM infrastructure offerings across the market, Nitro Labs got to work on building Termina, with a clear mandate to scale the SVM while empowering developers to create customizable Solana-based networks optimized for performance and privacy. Currently over 20 ecosystem partners are building alongside Termina, including both Solana-native and cross-chain projects, allowing developers to deploy and manage…
“T-Rex’s 2x Microstrategy ETF MSTU launched a mere six weeks ago and is already up 225% (annualized equivalent of 57,000%) and trades half a billion in volume (Top 1% among ETFs),” said Eric Blachunas, a senior Bloomberg ETF analyst. “It’s so funny they’ve long had 3x MSTR ETFs in Europe but no one cares, no assets, volume. It’s the market for that amount of heat, no degens. The U.S. on the other hand, it’s ‘make it volatile and they will come.'” Read the full article here
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Patronis, who is one of three trustees along with the governor and state attorney general, asked the organization to come back with a report that can inform state lawmakers before the next session. If Florida were to make that change, it would follow in the footsteps of states such as Wisconsin and Michigan. Read the full article here
“We are thrilled to be partnering with Coinbase to help service their customers’ money movement needs,” said Yanilsa Gonzalez Ore, Head of Visa Direct, North America for Visa. The feature allows eligible Visa debit card holders to “take advantage of trading opportunities day and night.” Read the full article here