Former FTX CEO Sam Bankman-Fried has been found guilty of all of the seven charges in his criminal trial by a jury in New York.

Bankman-Fried was found guilty of two counts of wire fraud and two counts of wire fraud conspiracy along with one count of securities fraud, one count of commodities fraud conspiracy and one count of money laundering conspiracy.

He will return to court for sentencing by New York District Judge Lewis Kaplan at a later date.

Bankman-Fried’s crimes total a maximum of 110 years in prison with the wire fraud, wire fraud conspiracy and money laundering conspiracy carrying a maximum 20-year sentence.

Other key FTX executives including former Alameda CEO Caroline Ellison,…

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Former FTX CEO Sam Bankman-Fried was found guilty by a panel of 12 jurors on Thursday.

Bankman-Fried was charged with all seven counts of fraud alleged by federal prosecutors. 

The jury found the former executive guilty after a month-long trial where the prosecution presented nearly 20 witnesses to the defense’s three, with Bankman-Fried himself taking the stand. FTX co-founder Gary Wang, former head of engineering Nishad Singh and former Alameda CEO Caroline Ellison testified against their former colleague.

Sam Bankman-Fried now awaits sentencing. A hearing will be held where Judge Lewis Kaplan — who oversaw the entirety of Bankman-Fried’s trial — will decide on his sentence….

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Cryptocurrency exchange Coinbase narrowed its net loss to $2 million in the third quarter, as notched a year-on-year increase in revenue despite lower trading volumes.

The firm’s net loss in Q3 was trimmed from a $545 million net loss in the prior year period, according to a Nov. 2 earnings statement.

Total revenue increased 14.2% year-on-year to $674.1 million, though quarter-on-quarter revenue fell 4.8%. The figure beat London Stock Exchange Group’s estimate of $653.2 million, according to a report from Reuters.

Of the total revenue, $334.4 million came from subscription and services (mostly stablecoin and blockchain rewards), while $288.6 million came from transaction-based…

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Marathon Digital has begun mining Bitcoin (BTC) using power generated from methane gas siphoned off a landfill. The 280-kW off-grid pilot project is operating in Utah.

Marathon teamed up with Nodal Power on the project. Nodal Power was launched in November 2022 and produces energy from landfill gas in the southeastern United States and Texas. It raised $13 million in a seed round in August to operate two sites, one of which includes a data center.

A Nodal Power datacenter. Source: PRNewswire

Marathon said in a statement that the project is “part of a broader initiative being conducted by the Company to validate its ability to capture methane emitted from landfills, convert it into…

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The Aragon Association (AA), a Switzerland-based non-profit founded to grow Aragon’s DAO platform, will dissolve.

As part of the process, ANT holders will be given one year to redeem their tokens. A total of 86,343 ether will be deployed into a redemption contract, and ANT holders can redeem these tokens at the price of 0.0025376 ether (ETH) per ANT. 

The Aragon project itself will continue to exist, consisting of a product council that will allocate resources and a business entity, made up of the current Aragon OSx team, to carry on development.

The decision to dissolve AA was a private decision made within the team due to legal constraints, the association wrote in a blog…

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Coinbase reported a Q3 earnings loss per share of one cent, beating the loss per share analysts expected. 

Additionally, it beat its revenue expectations, posting $674 million. Analysts had previously expected revenue of around $650 million.

Coinbase reported $288.6 million in transaction revenue for Q3, as well as $334.4 million in services and subscription revenue during the period. 

In its shareholder letter, Coinbase said that it’s “on track to deliver meaningful positive adjusted EBITDA for 2023.” Its adjusted EBITDA — earnings before interest, taxes, depreciation and amortization — came in at $181 million, marking the third consecutive quarter of positive adjusted…

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Investors love to dig into data, constantly on the hunt for new metrics that might offer some special insight to assist in determining their next financial move. 

And in the world of DeFi, total value locked, or TVL, has become the go-to method for measuring the viability of an ecosystem.

But it’s actually a terrible way to gauge the success of a blockchain or its apps, according to Tushar Jain.

Speaking to Blockworks on the Lightspeed podcast (Spotify/Apple), the Multicoin Capital managing partner asserts that not only is TVL a useless metric, it’s “actively harmful” to focus on.

“It gives you a false sense of precision on a metric that can be trivially gamed,” he says,…

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The Dubai Financial Services Authority (DFSA) recognized two more tokens on Nov. 2, adding XRP (XRP) and Toncoin (TON) to its list of recognized tokens. They join Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) as coins recognized in the Dubai International Financial Centre (DIFC). 

The tokens’ new status will allow financial institutions in the DIFC to carry out transactions with them. There are over 4,000 companies located in the special economic zone. Ripple opened its MENA headquarters in the DIFC in 2020.

About 20% of Ripple customers are in that region, the company said in a statement. Ripple CEO Brad Garlinghouse said:

“It’s refreshing to see the DFSA encourage the adoption and… Read more on Cointelegraph