FTX Crash: Attorney Says “No” To Represent SBF; Here’s Why
Sam Bankman-Fried, the former CEO of FTX, will no longer be represented by his attorney at Paul, Weiss, Rifkind, Wharton & Garrison, the white-shoe law firm. Notably, this will be a big blow to the former FTX CEO as less than a week after hiring an attorney dropped SBF as a client.
Bitcoin Scarcity Rises As Bad Exchanges Take 1.2M BTC Out of Circulation
One of the biggest factors differentiating Bitcoin (BTC) from fiat currency and most cryptocurrencies is the hard limit of 21 million on its total circulating supply. However, the demise of numerous crypto exchanges over the last decade has permanently taken out at least 5.7% (1.2 million BTC) of the total issuable Bitcoin from circulation.
Albanian Judiciary Prepares to Hand Over Alleged Crypto Fraudster and Thodex Founder to Turkey
A court in the Albanian city of Elbasan has authorized the extradition to Turkey of the founder and chief executive of the now-defunct Turkish crypto exchange Thodex. The 27-year-old Faruk Fatih Ozer was detained in the Balkan nation at the end of August. The order follows a series of court hearings throughout the past three months. Quoted by Turkey’s Anadolu Agency, Judge Elis Dine pointed out that the decision can be appealed to the Durres Court of Appeals within 15 days.
Bahamas Gov Ordered SBF Conducted FTX Hack, Crypto Scammers Use KYC Actors for Fraud | Cointime Weekly Nov.13 – Nov.19
Was FTX hack fake? What's Binance's role in FTX collapse? How crypto scammers are using black market identities to avoid detection? How to build your own liquidity pool?
Racially-Delineated Social Caste System in USA Powered SBF’s Rise and FTX’s Collapse
I thought Alameda’s team were good traders, but it turns out they were just another crypto-punting bull market shop.
Founder of Web3 Social Video Platform Cheelee Launched $200M Crypto Winter Solidarity Fund
The founder of blockchain-based social video platform Cheelee and its sister Web2 mobile app NUTSon announced the launch of a $200-million support program for affected global cryptocurrency exchanges. The investments will go through the crypto winter solidarity fund run by Roman Alekseev and his partners, as his recent Instagram post <a href="https://www.instagram.com/p/ClDsQQDKTVB/?igshid=MDM4ZDc5MmU=" target="_blank">states</a>.
$138 Billion Investment Manager Man Group to Launch Crypto Hedge Fund
Bloomberg <a href="https://www.bloomberg.com/news/articles/2022-11-18/man-group-readies-crypto-hedge-fund-despite-ftx-chaos" target="_blank">reported</a> on Nov. 18 that Man Group is preparing to launch its crypto-focused hedge fund through its computer-led trading unit AHL. Citing private sources, Bloomberg disclosed that the new hedge fund could be ready by the end of the year.
All of Ripple's Revenue Is From Outside of US, Says Firm's General Counsel
Stuart Alderoty, who is FinTech firm Ripple’s General Counsel, says that although his firm still has quite a lot of employees inside the U.S. (presumably since the headquarters are in San Francisco), it is “effectively” operating outside the U.S.
Digital Banking Firm Revolut Distances Itself From FTX While Pushing for Crypto
Digital banking firm, Revolut is the latest one to distance itself from FTX. In an emailed statement, Revolut told users that it did not have “material exposure” to the bankrupt crypto exchange and it is still monitoring the situation while reminding the volatility associated with digital assets.
Singapore's Deputy Prime Minister Reiterates Decision to Restrict Crypto Speculation and Trading
Lawrence Wong, the Deputy Prime Minister of Singapore and Minister of Finance, has taken cognizance of the turmoil caused by FTX’s fraudulent business activities. He said, “And we’ve said this for a long time, even when people criticized us for saying that, which was that we need to take a strong stance against crypto speculation and trading, especially by retail investors.”
