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News & Articles By Cassie B.
01/19/2023
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By Cassie B.
Was the FAA’s nationwide ground stop on flights last week the work of ransomware hackers?
When the Federal Aviation Administration (FAA) called for a full ground stop on all flights leaving the U.S. for a few hours last Wednesday due to a failure with the critical Notice To Air Missions (NOTAM) system, a damaged database file was cited as the problem. It sounds plausible enough; we increasingly rely on computer […]
12/31/2022
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By Cassie B.
FTX used $200 million of customer deposits to fund venture deals
FTX diverted $200 million worth of customer deposits to fund a pair of venture deals in a move that caught the attention of the Securities and Exchange Commission. In March, the cryptocurrency firm reportedly invested $100 million through its FTX Ventures unit in the fintech company Dave, which had just gone public a few months […]
12/30/2022
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By Cassie B.
Cryptocurrency firm Midas Investments closes platform following losses in wake of FTX collapse
The crypto firm Midas Investments, which was focused on DeFi yields, will be closing down its platform in the wake of considerable losses it experienced throughout the year. The news was announced by the investment firm’s CEO and founder, Trevor Levin, in a blog post. He noted that Midas’s DeFi portfolio sustained $50 million in […]
11/21/2022
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By Cassie B.
Crypto lender BlockFi pauses customer withdrawals as it considers bankruptcy and layoffs following FTX implosion
Crypto lender BlockFi has put customer withdrawals on hold as it explores its options for reducing its “significant exposure” in the fallout of cryptocurrency exchange FTX’s bankruptcy. This summer, BlockFi obtained a $250 million loan from FTX to help them stay afloat as crypto financial institutions such as Three Arrows Capital struggled during the market […]
11/18/2022
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By Cassie B.
US to extradite embattled FTX ex-CEO Sam Bankman-Fried from Bahamas
The founder of crypto exchange FTX, Sam Bankman-Fried, is expected to be extradited from the Bahamas back to the U.S. as $2 billion of clients’ money remains unaccounted for. This is according to a report from Bloomberg, which says that authorities in the U.S. and the Bahamas have been discussing extraditing him for questioning. Bankman-Fried […]
09/23/2022
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By Cassie B.
South Korea requests Interpol red notice in search for disgraced crypto developer Do Kwon
The co-founder of the stablecoin TerraUSD, Do Kwon, is officially a wanted man in his native South Korea. Last week, a court there issued an arrest warrant for him, and prosecutors say he’s wanted for violations of capital markets law. Kwon’s company, Terraform Labs, is behind the algorithmic stablecoin as well as its sister cryptocurrency, […]
09/09/2022
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By Cassie B.
$258 billion Dogecoin racketeering lawsuit filed against Elon Musk has expanded – massive crypto pump and dump scheme alleged
A high-profile racketeering lawsuit filed against Elon Musk accusing the Tesla CEO of running a pyramid scheme involving the cryptocurrency Dogecoin has now expanded. An amended complaint that was filed this week in a Manhattan federal court saw seven new investor plaintiffs added to the suit as well as six new defendants. The lawsuit maintains […]
08/18/2022
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By Cassie B.
Crypto ad spending down 99.9% since February as industry meltdown continues
Anyone who has watched sports on TV in the past year can attest to the prevalence of cryptocurrency ads, but things have changed dramatically in the past few months as the crypto industry experiences significant turmoil. Sports and crypto are closely linked, with the Morning Consult reporting that sports fans are twice as likely as […]
08/16/2022
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By Cassie B.
CRYPTO CON: Disgraced Three Arrows Capital crypto hedge fund co-founders have a long history of questionable activities
The bankrupt crypto hedge fund Three Arrows Capital, which is being blamed for plunging a number of cryptocurrency companies into bankruptcy and accused of unethical and possibly criminal behavior, showed plenty of signs of poor management long before its spectacular collapse. In fact, its two 35-year-old co-founders, Su Zhu and Kyle Davies, who are now […]
07/24/2022
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By Cassie B.
Former Coinbase manager facing charges in first crypto insider trading case
The U.S. Attorney’s Office for the Southern District of New York announced that three people have been charged in the first cryptocurrency insider trading tipping case in the nation. A former product manager at cryptocurrency exchange platform Coinbase, Ishan Wahi, along with his brother, Nikhil Wahi and friend Sameer Ramani have been charged with wire […]
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