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SBF sent home, FTX heads plead guilty, and Binance gets Voyager assets: Hodler’s Digest, Dec. 18-24
Top Stories This Week
SBF sent home after his parents put up their house to cover his astronomical bail bond
Sam Bankman-Fried will spend the holidays with his family in Palo Alto, California, after his parents secured $250 million in bail funds with the equity in their home. Among the conditions of the bail are home detention, location monitoring and his passport surrender. The former FTX CEO signed surrender documents on Dec. 20, allowing his extradition from the Bahamas to the United States, where he faces eight charges that could keep him behind bars for the rest of his life. Bankman-Fried will now wait for his sentence at home with his family.
Caroline Ellison and Gary Wang plead guilty to fraud charges
Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to federal fraud charges. Ellison, however, is working on a plea deal with the Office of the United States Attorney for the Southern District of New York, which would evade all the seven charges against her, resulting in a $250,000 bail bond and prosecution only for criminal tax violations. The agreement doesn’t provide protection against any other charges that Ellison might face from any other authorities. Wang and Ellison are reportedly cooperating with U.S. authorities on investigations related to FTX’s collapse.
SBF sent home, FTX heads plead guilty, and Binance gets Voyager assets: Hodler’s Digest, Dec. 18-24
Top Stories This Week
SBF sent home after his parents put up their house to cover his astronomical bail bond
Sam Bankman-Fried will spend the holidays with his family in Palo Alto, California, after his parents secured $250 million in bail funds with the equity in their home. Among the conditions of the bail are home detention, location monitoring and his passport surrender. The former FTX CEO signed surrender documents on Dec. 20, allowing his extradition from the Bahamas to the United States, where he faces eight charges that could keep him behind bars for the rest of his life. Bankman-Fried will now wait for his sentence at home with his family.
Caroline Ellison and Gary Wang plead guilty to fraud charges
Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to federal fraud charges. Ellison, however, is working on a plea deal with the Office of the United States Attorney for the Southern District of New York, which would evade all the seven charges against her, resulting in a $250,000 bail bond and prosecution only for criminal tax violations. The agreement doesn’t provide protection against any other charges that Ellison might face from any other authorities. Wang and Ellison are reportedly cooperating with U.S. authorities on investigations related to FTX’s collapse.
Crypto can get weird: The 5 strangest stories of the industry in 2022
Filmmakers are interested in documenting one of this year’s weirdest stories in crypto, but what else made the list?
Crypto can get weird: The 5 strangest stories of the industry in 2022
Filmmakers are interested in documenting one of this year’s weirdest stories in crypto, but what else made the list?
Xmas dinner table: What to tell your family about what happened in crypto this year
Christmas dinner could get awkward for crypto advocates who were adamant about their families investing last year — Cointelegraph compiled a small recap of what happened in crypto this year.
BTC price levels to watch as Bitcoin limps into Christmas under $17K
The lack of volatility speaks volumes as one analyst argues that Bitcoin is only worth investing in below $12,000 or above $19,000.
BTC price levels to watch as Bitcoin limps into Christmas under $17K
Bitcoin (BTC) entered the Christmas holiday period unchanged at $16,800 as an eerie lack of volatility persevered.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewHopeful price target sees Bitcoin at $17,400
Data from Cointelegraph Markets Pro and TradingView confirmed another day of an almost imperceptible range for BTC/USD just below $17,000.
The pair had struggled to break out despite multiple potential catalysts coming from United States economic data prints.
With the holiday season ahead, a Santa rally appeared unlikely, while a lack of significant events to come further reduced the chances of flash volatility.
In weekend analysis, however, Michaël van de Poppe, founder and CEO of trading firm Eight, nonetheless reiterated the possibility of a step higher to near $17,500 should current levels hold.
FTX paid $12M retainer to a New York law firm before bankruptcy filing
Sullivan & Cromwell LLP (S&C), a law firm headquartered in New York City, received $12 million from West Realm Shires Services Inc. on behalf of FTX for legal services.
Public Bitcoin mining companies plagued with $4B of collective debt
The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market.
Judge pulls out of SBF-FTX case citing husband's law firm's advisory link
Judge Abrams’ withdrawal from the FTX case eradicates any conflict of interest in the FTX case because Andres continues to serve as a partner at Davis Polk & Wardwell, a law firm that advised FTX in 2021.
Santas and Grinches: The heroes and villains of 2022
Here’s a list of the 12 individuals who had the most impact — for better or worse — on the crypto industry this past year.
Santas and Grinches: The heroes and villains of 2022
Here’s a list of the 12 individuals who had the most impact — for better or worse — on the crypto industry this past year.
Economic frailty could soon give Bitcoin a new role in global trade
Aggressive interest rate hikes have wrought havoc on global markets. As a consequence, more countries may embrace Bitcoin in the year ahead.
U.S. delays crypto tax reporting rules, as it still can’t define what a 'broker' is
Congress passed a law in November 2021 that required the new crypto rules to be issued.
Bridge attacks will still pose a major challenge for DeFi in 2023: Security experts
Hackers have stolen over $2.5 billion through vulnerabilities on cross-chain bridges in the past two years.
LastPass attacker stole password vault data, showing Web2's limitations
LastPass users with weak master passwords may need to change the individual passwords they stored with the service.
Former Alameda CEO confirms firm borrowed billions from FTX customer deposits as part of plea deal
According to court documents, Caroline Ellison said she and SBF signed off on “materially misleading financial statements” for Alameda lenders — knowing it was illegal.