FTX began to unravel one year ago today: A timeline

Serious cracks began to form in Sam Bankman-Fried’s crypto empire one year ago.

Within six days, FTX went from being the second largest crypto exchange to a bankrupt entity with an alarming $8 billion in customer deposits unaccounted for.

This would all come to light in the months after FTX’s fall. Rigorous investigations, led by the current FTX CEO, John J. Ray III — made famous by Enron — were corroborated by testimonies from employees and key members of Bankman-Fried’s team during his October 2023 trial.

Ex-Alameda CEO Caroline Ellison claimed he demanded seven falsified versions of Alameda’s real balance sheet. Bankman-Fried disputed this in his testimony, claiming that…

Read more on Blockworks

Telegram Wallet avoided self-custody to ease crypto onboarding, COO says

Telegram Wallet, a major Telegram bot allowing users to buy and sell cryptocurrencies like Bitcoin (BTC), has chosen custody over self-custody to chase easier onboarding goals, according to a senior executive.

In July 2023, crypto-friendly Telegram messenger officially announced the integration of the custodial crypto wallet, Telegram Wallet, to allow users to access the wallet directly from the messenger’s settings.

Though Telegram has enabled existing Wallet users to see the wallet bot directly in the messenger, those who have never used the bot are still not seeing the crypto wallet in their settings section of the messenger.

According to Telegram Wallet chief operating officer Halil…

Read more on Cointelegraph

Yuga Labs addresses Apefest ‘vision damage’ issue; community calls out poor management

Several attendees of Yuga Labs’ ApeFest event on Nov. 4 in Hong Kong reported eye-related issues, including burns, damaged vision and “extreme pain” in their eyes.

Yuga Labs’ official X account has now addressed the issue, claiming they are aware of the reports of potential eye-related issues to many attendees and are investigating the cause behind them.

I just opened up IG and Jasmine’s eye is swollen.

Some Apes had an eye issue at ApeFest.

Protect your eyes. Wash your hands.

Be careful out there. pic.twitter.com/FNHF9hrDeg

— PB Drip (@DripperPb) November 6, 2023

Yuga Labs claimed that less than 1% of the attendees have experienced eye-related symptoms, and most of the…

Read more on Cointelegraph

Ark CEO Cathie Wood Would Hold Bitcoin, Not Gold for the Next 10 Years

Bitcoin bull Cathie Wood believes gold’s time has come and gone.

The CEO of Ark Invest weighed in on the enduring debate between the traditional safe haven asset and digital currency during a recent Bloomberg UK podcast, Merryn Talks Money. 

In a hypothetical scenario where Wood had to choose between holding gold, a cash deposit account, or Bitcoin for a decade, she made her stance clear.

“It’s a hedge against inflation and deflation. It’s digital,” she began, passionately advocating for Bitcoin. Wood acknowledged the time-tested appeal of gold but highlighted a crucial difference. “Gold already has its demand; it’s happened,” she explained. In contrast, she emphasized that Bitcoin remains a…

Read more on BitcoinMagazine

Cathie Wood Net Worth | Bitcoin

Cathie Wood, the founder, CEO, and CIO of ARK Invest, an investment management firm based in St. Petersburg, Florida, says Bitcoin is “digital gold” and calls it a deflation hedge. Cathie Wood net worth has been strongly affected by the belief she has in Bitcoin.

In an interview with Bloomberg’s Merryn Talks Money podcast, Cathie Wood was asked which asset she would choose to safeguard her money from the upcoming possible deflation in the next decade. The executive said that she would always support Bitcoin over gold or cash, adding that she would consider holding it for the next ten years.

Merryn Talks Money

Cathie Wood’s Bitcoin sentiment remains unchanged as the…

Read more on bitcoinnews

Does Coinbase Report To IRS

BitcoinNews.com is not investment advice.

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

Read more on bitcoinnews

Fake Ledger Live App Sneaks into MS App Store, $588K Stolen

In a startling incident in the Bitcoin world, a fake Ledger Live application managed to infiltrate the Microsoft App Store, resulting in the theft of 16.8 BTC. The cunning scammer tricked users by stealing a staggering $588,000 and left the community shaken. Several analysts are sharing their investigations and findings on social media.

Fake Ledger Tricked Users With 16.8 BTC

On November 5, the story began when users searching for the official Ledger Live application on the Microsoft Store stumbled upon a fake version named “Ledger Live Web3.”

The notorious elements designed this deceptive app to mimic the legitimate Ledger Live app, a trusted user interface for Ledger…

Read more on bitcoinnews

How blockchain, AI can help research into extending human life

Blockchain and artificial intelligence (AI) have long been paired to change how people view identity and verification. Between those innovations come data, described by experts as the new oil — extracted, amassed, refined, processed and turned into something useful.

While most blockchain and AI use cases are still experimental and success can’t yet be measured, a developing app employs users’ personal data to contribute to research on prolonging human life.

Speaking with Cointelegraph at the recent Cardano Summit, Jasmine Smith, chief executive of Web3-based wellness app Rejuve.AI, said that crowdsourcing data from multiple sources helps accelerate longevity research. She explained…

Read more on Cointelegraph

Community reacts to HK spot Bitcoin ETF news

The cryptocurrency community is excited about the Hong Kong government reportedly weighing the launch of a spot cryptocurrency exchange-traded fund (ETF) amid the ongoing regulatory pushback against such products in the United States.

Hong Kong’s potential entrance into spot crypto ETFs could be a significant development in the context of the economic confrontation between the U.S. and China, BitMEX co-founder Arthur Hayes believes.

Hayes took to X (formerly Twitter) on Nov. 6 to express excitement over competition between the two economies, emphasizing that this competition will eventually be good for Bitcoin (BTC).

“Competition is amazing. If the U.S. has its proxy asset manager,…

Read more on Cointelegraph

London Stock Exchange seeks digital assets director

The London Stock Exchange Group (LSEG), the parent company of the London Stock Exchange and other fintech companies, has posted on LinkedIn that it’s seeking a director of digital assets. 

LSEG says it is looking for candidates who have a “passion for and understanding of digital assets, cryptocurrencies and distributed ledger technology,” among other skills and requirements.

According to the posting the future digital asset manager for LSEG will be helping the company outline and deploy a commercial strategy for “a suite of new infrastructure solutions and capabilities, as well as developing LSEG’s brand and ecosystem in digital private markets.”

A representative from LSEG told…

Read more on Cointelegraph