A look at the clash between Coinbase and Wall Street over the Clarity Act and whether crypto exchanges can offer stablecoin “rewards”
Coinbase chief Brian Armstrong is clashing with Jamie Dimon and other bank stewards over the future of finance
NYSE owner Intercontinental Exchange says it will invest up to $2B in Polymarket in a cash deal valuing the prediction market at ~$8B; ICE's market cap is $90B+
Investment from Intercontinental Exchange could help the popular prediction market re-enter the U.S.
Terraform Labs co-founder Do Kwon pleads not guilty before a US federal judge in New York to nine counts, including wire fraud, over the $40B TerraUSD collapse
- Kwon was extradited from Montenegro earlier this week — He is also facing fraud prosecution in his native South Korea
Montenegro says Terraform Labs co-founder Do Kwon will be extradited to the US, potentially ending a standoff over competing demands by the US and South Korea
Bloomberg :
A profile of Tron founder Justin Sun, who wants to be the “Elon Musk of the crypto world” and advises the Trump-backed crypto project World Liberty Financial
Vicky Ge Huang / Wall Street Journal : X: @aosipovich and @bettermarkets . LinkedIn: H.E. Justin Sun X: Alexander Osipovich / @aosipovich : Who is Justin Sun, the new advisor to t...
Experts: Bitcoin has time to adopt newer encryption that's resistant to attacks via potentially upcoming quantum systems, but such an overhaul could take years
Alexander Osipovich / Wall Street Journal :
Crypto derivatives exchange Bitnomial raised $25M led by Ripple and launches Botanical, a futures trading platform in the US currently in closed beta
RT Watson / The Block :
Sam Bankman-Fried asks for a new trial in an appeal to the 2nd Circuit US Court of Appeals and directly attacks US District Judge Lewis Kaplan for alleged bias
and never changed his mind— was Michael Lewis. Jacob Shamsian / @jayshams : truly I don't really understand why advice-of-counsel was excluded. because the lawyers were fooled by S...
Sam Bankman-Fried asks for a new trial in an appeal to the 2nd Circuit US Court of Appeals and directly attacks US District Judge Lewis Kaplan for alleged bias
Jailed FTX co-founder Sam Bankman-Fried is asking for a new trial, blaming a federal judge for preventing him from mounting a proper defense.
Sources: E*Trade is weighing kicking meme stock leader Keith Gill off its site over GameStop stock manipulation concerns; GME is up 60%+ since Gill reappeared
Morgan Stanley's trading platform discusses concerns about possible manipulation in GameStop — E*Trade is considering telling …
Sources: FTX employees in the US found and reported the backdoor Alameda used to allegedly withdraw billions in customer funds, months before FTX's collapse
The crypto exchange allowed Alameda to have a negative balance of up to $65 billion, prosecutors say
Solidus Labs: wash trading, used to boost a token's price and volume, on Ethereum-based decentralized exchanges amounted to $2B+ of crypto since September 2020
- Liquidity providers have manipulated prices of 20,000 tokens — Solidus examined a sample of 30,000 pools on three exchanges
SEC court filings: Jump Trading secretly purchased tens of millions of dollars worth of TerraUSD and made ~$1B profit per year before the coin's 2022 collapse
Chicago firm made about $1 billion through dealings with crypto mogul Do Kwon's company, according to the agency
Robinhood announces 24-hour trading of select stocks and ETFs, five days per week, starting with 43 securities next week and available to all users by June 2023
Wall Street Journal :
Sources: Binance.US has struggled to find a bank for its customers' cash after Signature Bank's collapse and is using at least one middleman to store user funds
As a stopgap, the exchange is using at least one middleman to store user funds on its behalf
A profile of former FTX engineering chief Nishad Singh; filings show Singh owned 7.8% of FTX US, 10% of FTX Ventures, and 44M shares in the main exchange
He is the latest member of FTX's inner circle to plead guilty to fraud — Nishad Singh followed Sam Bankman-Fried into the high-stakes world of cryptocurrency trading.
A profile of Sam Bankman-Fried's psychiatrist Dr. George Lerner, hired as a coach at FTX in early 2022, as prosecutors seek his communications with executives
Wall Street Journal :
Genesis Global Capital's bankruptcy marks the end of an era of crypto lenders trying to bring the centuries-old banking model to digital currencies
Alexander Osipovich / Wall Street Journal : Tweets: @acemaxx , @dr_cswright , and @aosipovich Tweets: @acemaxx : The end of an era for #crypto lenders: shaky foundations, risky pr...
Sam Bankman-Fried admits involvement in two of Alameda's largest uses of funds: spending $3B to buy out Binance's FTX stake and pouring $4B into venture capital
Exchange's former CEO says he was close to key decisions at nominally separate trading firm — Speaking from his bed in Nassau …
A look at SBF's desperate efforts to raise $7B+ from Sequoia, Apollo, TPG, the Saudis, and others; FTX's internal accounting software hid FTX-Alameda transfers
As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked …