Despite suggesting a possible ban, U.S. Senator Sherrod Brown stated it would be “very difficult” to implement because activity “would go offshore.”
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Gate.io experiences slowdown in deposits and withdrawals due to node maintenance
In a statement, the crypto exchange said that users' funds are safe and transactions are still being processed.
OKX cites intermittent outage amid Alibaba Cloud equipment anomaly
Alibaba Cloud Hong Kong IDC Zone C server went offline on Saturday at roughly 10 PM ET and failed to recover for over 7 hours at the time of reporting.
SBF prosecutors reportedly dig into donations made to top US Democrats
Democratic members from the DNC, the DCCC and Congressman Hakeem Jeffries were contacted by SBF prosecutors for information to aid their ongoing investigations.
Sam Bankman-Fried seeks to reverse decision on contesting extradition: Report
By consenting to extradition, Bankman-Fried would be able to appear in a United States court.
SBF risks 115 years in jail, Binance’s FUD, and auditors quit crypto: Hodler’s Digest Dec. 11-17
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FTX founder Sam Bankman-Fried arrested, set to be extradited to US
Sam Bankman-Fried was taken into custody by the Royal Bahamas Police Force and is likely to stay there until February, after his application for bail was denied in Bahamian court. A second application for bail has been reportedly filed by SBF in the Supreme Court of the Bahamas. His arrest came after the United States government officially filed criminal charges against him — including eight counts of fraud. If convicted, Bankman-Fried could face 115 years in jail, but legal commentators have told Cointelegraph there is a “lot to play out” in the case. The domino effect resulting from FTX’s meltdown has also impacted the professional lives of Bankman-Fried’s parents, resulting in their courses at Stanford Law School being canceled. In other recent developments regarding FTX, a class-action lawsuit against Silvergate Bank was filed in California, aiming to hold the bank accountable for its alleged roles in placing FTX user deposits into the bank accounts of Alameda Research.
Binance ‘put FTX out of business’ — Kevin O’Leary
Venture capital investor Kevin O’Leary claimed at a U.S. Senate committee hearing that Binance and FTX “were at war with each other, and one put the other out of business intentionally.” The hearing was part of a larger investigation by lawmakers into FTX’s collapse, in which Binance had a significant role, O’Leary claimed. Recent days have seen Binance beset by fear, uncertainty, and doubt (FUD), resulting in a drop in the exchange’s liquidity. Crypto analytics firm Nansen reports that Binance had net withdrawals of more than $3.6 billion from Dec. 7 to Dec. 13.
SBF risks 115 years in jail, Binance’s FUD, and auditors quit crypto: Hodler’s Digest Dec. 11-17
Top Stories This Week
FTX founder Sam Bankman-Fried arrested, set to be extradited to US
Sam Bankman-Fried was taken into custody by the Royal Bahamas Police Force and is likely to stay there until February, after his application for bail was denied in Bahamian court. A second application for bail has been reportedly filed by SBF in the Supreme Court of the Bahamas. His arrest came after the United States government officially filed criminal charges against him — including eight counts of fraud. If convicted, Bankman-Fried could face 115 years in jail, but legal commentators have told Cointelegraph there is a “lot to play out” in the case. The domino effect resulting from FTX’s meltdown has also impacted the professional lives of Bankman-Fried’s parents, resulting in their courses at Stanford Law School being canceled. In other recent developments regarding FTX, a class-action lawsuit against Silvergate Bank was filed in California, aiming to hold the bank accountable for its alleged roles in placing FTX user deposits into the bank accounts of Alameda Research.
Binance ‘put FTX out of business’ — Kevin O’Leary
Venture capital investor Kevin O’Leary claimed at a U.S. Senate committee hearing that Binance and FTX “were at war with each other, and one put the other out of business intentionally.” The hearing was part of a larger investigation by lawmakers into FTX’s collapse, in which Binance had a significant role, O’Leary claimed. Recent days have seen Binance beset by fear, uncertainty, and doubt (FUD), resulting in a drop in the exchange’s liquidity. Crypto analytics firm Nansen reports that Binance had net withdrawals of more than $3.6 billion from Dec. 7 to Dec. 13.
SBF risks 115 years in jail, Binance’s FUD, and auditors quit crypto: Hodler’s Digest Dec. 11-17
Top Stories This Week
FTX founder Sam Bankman-Fried arrested, set to be extradited to US
Sam Bankman-Fried was taken into custody by the Royal Bahamas Police Force and is likely to stay there until February, after his application for bail was denied in Bahamian court. A second application for bail has been reportedly filed by SBF in the Supreme Court of the Bahamas. His arrest came after the United States government officially filed criminal charges against him — including eight counts of fraud. If convicted, Bankman-Fried could face 115 years in jail, but legal commentators have told Cointelegraph there is a “lot to play out” in the case. The domino effect resulting from FTX’s meltdown has also impacted the professional lives of Bankman-Fried’s parents, resulting in their courses at Stanford Law School being canceled. In other recent developments regarding FTX, a class-action lawsuit against Silvergate Bank was filed in California, aiming to hold the bank accountable for its alleged roles in placing FTX user deposits into the bank accounts of Alameda Research.
Binance ‘put FTX out of business’ — Kevin O’Leary
Venture capital investor Kevin O’Leary claimed at a U.S. Senate committee hearing that Binance and FTX “were at war with each other, and one put the other out of business intentionally.” The hearing was part of a larger investigation by lawmakers into FTX’s collapse, in which Binance had a significant role, O’Leary claimed. Recent days have seen Binance beset by fear, uncertainty, and doubt (FUD), resulting in a drop in the exchange’s liquidity. Crypto analytics firm Nansen reports that Binance had net withdrawals of more than $3.6 billion from Dec. 7 to Dec. 13.
SEC was “asleep at the wheel” about FTX - US Rep. Sessions
The Texas Congressman urged lawmakers to examine the SEC's efforts to prevent fraud at the crypto exchange.
Central Banks to set standards on banks’ crypto exposure - BIS
The new standard limits crypto reserves among banks to 2% by 2025, and goes into effect on January 1, 2025.
Bitcoin still lacks this on-chain signal for BTC bull market — David Puell
Bitcoin network activity is "underwhelming," the famous analyst says, as further data reaffirms a textbook BTC price bottom in progress.
Bitcoin still lacks this on-chain signal for BTC bull market — David Puell
Bitcoin (BTC) only needs one more key on-chain signal for a classic bull market to begin, analyst David Puell says.
In a tweet on Dec. 17, the Puell Multiple creator argued that the stage is almost set for the end of the BTC price bear market.
Puell: Bitcoin network activity "underwhelming"
Despite many calling for new BTC/USD lows of $12,000 or less this cycle, not everyone is wholly bearish on the outlook for Bitcoin.
For Puell, two essential on-chain phenomena necessary for BTC price recovery are already in evidence.
Long-term holders (LTHs) are resisting the urge to sell despite Bitcoin being down over 70% from its last all-time high.
Bitvavo to prefund locked DCG assets worth $296.7M amid liquidity crisis
The Digital Currency Group and its affiliates (DCG) cited liquidity problems as it suspended repayments, temporarily halting users from withdrawing their funds.
Democrats to reportedly return over $1M of SBF's funding to FTX victims
Three democratic committees, the DNC, the DSCC and the DCCC, pledged to return SBF’s political donations after the entrepreneur was charged with eight counts of financial crimes.
Hal Finney's wife resumes activity on Bitcoin pioneer's Twitter account to avoid potential purge
Under Elon Musk’s leadership, Twitter suspended a number of accounts including those controlled by high-profile journalists and social networking platform Mastodon.
Argentina’s province to issue US dollar-pegged stablecoin
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The province of San Luis in Argentina approved a legislation allowing the issuance of its own stablecoin pegged to the United States dollar. The token, dubbed the "Activo Digital San Luis de Ahorro", will be available to all citizens of the province over the age of 18 and 100% collateralized in liquid financial assets of the province.