FTX Hires Forensics Team to Find Customers’ Missing Billions: Report
The new management for bankrupt crypto exchange FTX has reportedly hired a team of financial forensic investigators to track down the billions of dollars worth of missing customer crypto. Financial advisory company AlixPartners was chosen for the task and is led by former Securities and Exchange Commission (SEC) chief accountant, Matt Jacques, according to a Dec. 7 report from the Wall Street Journal. (Cointelegraph)
NYC Prosecutors Probing Sam Bankman-Fried's Role in TerraUSD Collapse: Report
Federal prosecutors are investigating whether the FTX founder manipulated the market price of the two doomed, interlinked currencies earlier this year, the Times says. The publication echoes the conclusion of other blockchain analysts in asserting that the collapse of Terra and Luna eventually led to the catastrophic failure of FTX. (Decrypt)
Senator Lummis Now Believes Ether is a Security
Senator Cynthia Lummis (R-WY) revealed Wednesday that she now views the second largest cryptocurrency as a security – not a commodity. The senator’s statement is a departure from her claims in June, which would have made room for Ether as a commodity, alongside Bitcoin. However, with Ethereum’s switch to a proof of stake consensus mechanism after September’s Merge, she believes it may not be sufficiently decentralized to meet the bar. (cryptopotato)
JPMorgan Chase CEO Jamie Dimon Likens Crypto to Pet Rocks — Calls for More Regulation
JPMorgan Chase CEO Jamie Dimon says crypto tokens are like pet rocks. The executive also believes crypto regulation should be strengthened: “The regulators who beat up on banks should maybe focus a little more on crypto.” (Bitcoin.com)
CFTC and Crypto Lawyers Duke it Out Over Service in Ooki DAO Case
Controversially, the CFTC distributed legal service to DAO users via the DAO’s chat box. Most legal proceedings require physical, in-person delivery, but the CFTC got the court on board with a special exemption in October, as the case was kicking off. DeFi advocates reacted heatedly. On Wednesday night, a San Francisco court heard virtual arguments over the mechanism of service. Arguing with the CFTC’s lawyers were not Ooki DAO’s lawyers. (The Block)
Just 8% of Americans Have a Positive View of Crypto: CNBC Survey
A new CNBC survey suggests that only 8% of Americans have a favorable view of cryptocurrency as of the end of November, down significantly from the 19% recorded in March. CNBC’s All-America Economic Survey was conducted between Nov. 26 and Nov. 30. It, however, should be taken with a grain of salt as, despite its name, it had a relatively small sample size of 800 respondents across the U.S. in total, with a margin error of +/- 3.5%. (Cointelegraph)
Will El Salvador’s Gamble on Bitcoin Pay Off in the Crypto Winter
El Salvador has been making headlines recently as rumors swirl that the country may be on the brink of financial insolvency due to heavy losses in Bitcoin.
Lucky Mystery Box Announces Launch Crypto Lottery on TRON With 1M USDT Prize Pool
Lucky Mystery Box has launched a TRC-20 Crypto lottery with a reward pool of 1M worth of USDT. The project utilizes the principle of Block Hash which generates unique IDs after every transaction to deliver water-tight security.
Ledger CEO: 20% of the World’s Crypto Is Stored in Ledger’s Hardware Wallets
At yesterday’s event, Ledger CEO Pascal Gauthier <a target="_blank" href="https://www.theblock.co/post/192420/ledger-device-ipod-inventor-tony-fadell">trumpeted</a> a new premium-priced, “iPod moment” Ledger product named Stax. He also unveiled an eye-popping statistic: a claim that 20% of the world’s crypto is stored in Ledger's hardware wallets.
Mad Money’s Host Advises Investors to Get Out of Crypto, Says ‘Never Too Late to Sell’
The host of CNBC’s Mad Money show, Jim Cramer, has advised investors to sell their cryptocurrencies following the collapse of crypto exchange FTX. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. He said Monday:
