The stablecoin operator said the reliability of its reserves is important to highlight “at a time like this.” Tether has historically had issues with transparency.
Evidence suggests “FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors,” according to the lawsuit.
CoinTelegraph: Sam Bankman-Fried updates investors: ‘We got overconfident and careless,’ claims $13B leverage
“I was on the cover of every magazine, and FTX was the darling of Silicon Valley,” said the former CEO on the crypto firm’s path to bankruptcy.
An image of the sandals worn by Steve Jobs was minted as a nonfungible token and sold for over $200,000.
On-chain data flashed positive for DEXs and an increase in protocol revenue, even as markets corrected due to FTX’s insolvency.
Back was one of the few people cited in the original Bitcoin whitepaper.
The wallets seem to indicate that over $1billion worth of BTC, USDT, ETH, and USDC are held by the exchange.
The recovery in BTC and altcoins fizzled out fast, suggesting that investors continue to maintain a risk-off stance to all cryptocurrencies.
CoinTelegraph: Terra Labs, Luna Guard commission audit to defend against allegations of misusing funds
The audit tracked efforts to defend the UST peg May 8-12 and no found wrongdoing. LFG used the data to draw conclusions about frozen funds.
CoinTelegraph: Ethereum price weakens near key support, but traders are afraid to open short positions
ETH price hovers at a key support level and while it is softening, data shows pro traders are reluctant to go short.
CoinTelegraph: Crypto skeptic Brad Sherman: federal financial regulators ‘sound like Sam Bankman-Fried’
The U.S. lawmaker suggested four financial regulatory heads had done little to address “crypto billionaire bros” using digital assets for the evasion of sanctions and taxes.
The latest casualty of the FTX meltdown raises concerns over the Grayscale Bitcoin Trust institutional investment fund.
CoinTelegraph: FTX collapse was a ‘dumpster fire’, says US lawmaker announcing investigative hearing
“There is no sugarcoating it: the FTX collapse has been a dumpster fire,” said House Financial Services Committee ranking member Patrick McHenry.
Binance’s Investigations and Intelligence team plays a role in helping global law enforcement agencies identify and combat crypto-related crime.