Crypto enthusiasts are breathing an audible sigh of relief, saying Binance's $4.3 billion pact with the US government lifts the uncertainty hanging over their industry
Onetime crypto poster child Sam Bankman-Fried was on Thursday found guilty of defrauding customers of his now-bankrupt crypto exchange FTX, in a high-profile criminal case that rocked the industry. The U.S. Securities and Exchange Commission (SEC) sued Binance and its CEO Zhao in June for allegedly operating "a web of deception." Binance and Zhao were also sued by the U.S. Commodity Futures Trading Commission in March for operating what the regulator alleged were an "illegal" exchange and a "sham" compliance program.
(Bloomberg) Bitcoin has had a sleepy summer. This week, it was shaken awake. Most Read from BloombergChina Evergrande Group Files Chapter 15 Bankruptcy in New York‘Poor Man’s Cocaine’ Costing $3 a Pill Threatens to ProliferateBitcoin Calm Shatters With Sudden Tumble, Mass LiquidationsBig Tech Logs Year’s Longest Weekly Losing Streak: Markets WrapVietnam Tycoon Loses $18 Billion After EV Maker’s Shares SinkFor the past several months, the hallmark volatility that previously attracted hordes of
contraction in manufacturing activity last month. south korea reports its trade balance for may on thursday morning. key data from the us is expected to show continued job growth. in singapore, the state investor says it has cut compensation for the team that recommended investing in the collapsed crypto exchange ftx. the chairman said although there was no misconduct involved, they are ultimately responsible for the investment decision made. they did not detail the amount of compensation cut. six months ago, an internal investigation was launched after $275 million was launched after $275 million was lost from the investment. in other news, china s first domestically manufactured large passenger jet has successfully
FTX attorney Andy Dietderich said the company is starting to think about its future after months of effort devoted to collecting resources and figuring out what went wrong under the leadership of indicted ex-founder Sam Bankman-Fried.