Members of a U.S. Congressional hearing expressed frustration about the timing of Bankman-Fried’s arrest, saying they wanted him to testify under oath so the public could get the answers they are seeking about the collapse of FTX.
Bitcoin and Ether both rose more than 3% in Wednesday morning in Asia, as the U.S. consumer price index came in lower than expected.
Binance, the world’s largest cryptocurrency exchange, announced at 12:54 a.m. on Wednesday in Hong Kong that USDC stablecoin withdrawals have resumed.
The Binance cryptocurrency exchange “temporarily paused” USDC stablecoin withdrawals while it carried out a “token swap,” the company announced Tuesday.
FTX’s Sam Bankman-Fried has been charged by the U.S. SEC for orchestrating a years-long fraud on investors, the agency announced on Tuesday.
Bitcoin and Ether rallied in Asian trading on Tuesday afternoon. BNB was the biggest loser across the top 10 non-stablecoin cryptocurrencies
By some estimates, job cuts in the cryptocurrency-specific industry are running at about 30-40%, which means tough times for employers and employees, and compensation packages are also taking a hit.
John J. Ray III, the new CEO of FTX.com, said the company’s failure was caused by the “concentration of control in a very small group of grossly inexperienced and unsophisticated individuals.”
The fall from grace: Once one of the most admired figures in crypto, the former head of the FTX exchange is unlikely to see his Bahamas penthouse anytime soon after being arrested Monday on U.S. charges that are expected to lead to his extradition.
Stablecoins in USD are becoming the digital world’s default currency — which burdens ordinary crypto users and monetary policies in smaller nations, writes Wei Zhou of Coins.ph.