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FTX founder Sam Bankman-Fried faces up to 115 years in jail after being found guilty on seven charges of fraud and conspiracy, as government prosecutor Damian Williams warned that the government has “handcuffs for all” crypto crooks. “The cryptocurrency industry might be new,” New York Southern District US Attorney Williams said outside the courthouse. “The players like Sam Bankman-Fried might be new. But this kind of fraud, this kind of corruption, is as old as time.” A jury unanimously found Bankman-Fried guilty on single counts of securities fraud, conspiracy to commit fraud, and conspiracy to commit money laundering, and on two counts each of wire fraud and conspiracy to commit wire fraud. Each charge comes with a maximum sentence of 20 years, indicating the former crypto mogul may be sentenced to up to 115 years in jail. Bankman-Fried is likely to appeal the decision. His attorney, Mark Cohen, expressed disappointment in the jury’s deci...

Sam Bankman-Fried (SBF) ran a “pyramid of deceit” and is “guilty beyond reasonable doubt” on all charges, Assistant US Attorney Nicholas Roos said yesterday, as the FTX founder’s trial enters its final stretch. Prosecutors and defence lawyers gave their closing arguments on Wednesday, with Roos telling the jury that Bankman-Fried used FTX customer funds to cover personal expenses, property purchases, and political donations. He thought “he was smarter and could walk his way out of it,” he said. “This is not about complicated issues of cryptocurrency,” he added. “It’s about lies, stealing, and greed. The core dispute here is whether the defendant knew that taking the money was wrong.” AUSA Roos: $10 billion were missing. And the defendant was responsible. You're heard about Bitcoins and blockchains, so-called Korean accounts. Here's the thing. This is not about complicated issues of crypto currency. It's about li...

Join Our Telegram channel to stay up to date on breaking news coverage Binance.US has partnered with MoonPay to regain access to dollar transactions.  The move is a response to the regulatory and financial challenges faced by the cryptocurrency exchange, which has been unable to offer dollar transactions after it was cut off by banking partners in the US. Today, we're excited to introduce a new $USD on-ramp! ✔️ Buy $USDT on https://t.co/AZwoBOgsqS through payment partners like @moonpay, which supports debit & credit card, Apple Pay, and Google Pay. ✔️ Sell USDT for USD to withdraw via bank transfer. Learn more & get started ⤵️ — Binance.US 🇺🇸 (@BinanceUS) August 22, 2023 On August 22, the American branch of the world’s largest cryptocurrency exchange  announced its transition to a crypto-only model, replacing dollar transactions with USDT, a stablecoin pegged to the U.S. dollar, as th...

Join Our Telegram channel to stay up to date on breaking news coverage Ripple’s XRP has revolutionized cross-border transactions with its fast, cost-effective protocol. Investors are now looking at alternatives like Thug Life, an emerging cryptocurrency with innovative Features that could offer even higher returns. Thug Life’s blockchain technology and enhanced privacy Features have attracted attention as it aims to shake up traditional finance. Investing in crypto beyond Ripple is crucial as the market evolves. XRP is currently trading at $0.4627. The trading volume for the past 24 hours has been $491 million. There has been a slightly decreased of 0.26% in XRP over the last 24 hours. Ripple Statistics: Today’s price – is $0.4627 Market cap – $24.496 Billion Circulating supply – 52,254,289,650 XRP Total supply – $ 99,988,655,562 XRP Coinmarketcap ranking – 6 Source: Coinmarketcap XRP’s Growth and Efficiency in H...

Bitcoin's price fell approximately 8% in a span of 10 minutes, leaving crypto investors scrambling to make sense of the drop. Elon Musk's SpaceX reportedly selling its Bitcoin (BTC) holdings, the bankruptcy of a Chinese property giant and fears of interest rate hikes have been among the theories raised as to Bitcoin's freak price dip. On Aug. 18 around 9:35 pm UTC, the price of Bitcoin suddenly plummeted over 8% in a span of 10 minutes, taking with it the wider cryptocurrency market, leaving many in the crypto community scratching their heads. the fuck was that? pic.twitter.com/Lh2zGXv29n — Molly White (@molly0xFFF) August 17, 2023 While there appears to be no consensus as to why the markets suddenly dropped, several crypto market analysts have shared their initial theories with Cointelegraph.  SpaceX offloads Bitcoin, interest rate fears eToro market analyst Josh Gilbert pinned the drop on a report that SpaceX may have offloaded some or all of its $373 million in Bitcoi...

Join Our Telegram channel to stay up to date on breaking news coverage Fund managers are racing to launch Ether futures ETFs with at least half a dozen applications submitted to the Securities and Exchange Commission since Friday. Volatility Shares was first off the starting blocks with an application on Friday and on Tuesday came five more filings from Bitwise, Roundhill, VanEck, Proshares, and Grayscale. The development follows the launch last month of Volatility’s leveraged Bitcoin futures ETF and also comes hard on the heels of an application by BlackRock, the world’s biggest money manage with assets of about $9 trillion, to launch a spot Bitcoin ETF.  Other firms vying to launch spot Bitcoin ETF’s include Fidelity, Cathie Wood’s Ark Invest, Invesco, VanEck, and WisdomTree. Because the SEC has already approved Bitcoin futures ETFs, the chances of approval for Ether futures ETF are considered much greater than for a spot vehicle.  The rush ...

Join Our Telegram channel to stay up to date on breaking news coverage It’s never a dull day in crypto, and certainly not in crypto gambling. With the hype around Pepe Coin long gone, investors are in the race to find another suitable contender with the ability to flip ordinary people into instant crypto millionaires. Crypto gamblers are not leaving anything to chance with the launch of the highly anticipated movie ‘Barbie’ on the horizon. They are wagering their bets against another film ‘Oppenheimer’—also competing for the box office. These two films have very different themes and target audiences, but they have one thing in common: they have generated a lot of buzz and hype among crypto gamblers who want to wager on their success or failure. What Are ‘Barbie’ And ‘Oppenheimer’ About? ‘Barbie’ is a live-action-comedy film based on the iconic doll brand, starring Margot Robbie as the titular character, B...

Join Our Telegram channel to stay up to date on breaking news coverage Following the Bitcoin spot exchange-traded fund (ETF) filing frenzy of the past week, market experts are now assessing the chances of the US Securities and Exchange Commission (SEC) giving a green light to the venture. Bloomberg’s top analyst believes that asset management firm BlackRock has a 50% chance of getting what it wants. Grayscale’s Chances Playing to BlackRock’s Success In a June 27 tweet, Bloomberg’s senior market analyst Eric Balchunas tweeted that BlackRock has an even chance of getting its Bitcoin spot ETF filing approved by the US SEC. Balchunas attributed the probability to insights from his colleague regarding Grayscale, another prominent asset management firm. Another reason we give spot bitcoin ETF approval 50% chance is our senior legal analyst @NYCStein gives Grayscale a 70% chance of winning case against SEC, who could approve BlackRock's ETF as way to sav...

Join Our Telegram channel to stay up to date on breaking news coverage Block.One, the blockchain company behind EOS, wants to launch a decentralised ex change (DEX) platform named Bullish Global (BG.) The ex change is expected to be ready to go later this year. Block.One Exchange Receives $10Billion Backing for Bullish Global So far, the Block.One ex change has a war chest of $10 billion in cash and digital assets. The venture has significant backing from prominent crypto luminaries, such as billionaires Peter Thiel, Louis Bacon, and Alan Howard. Other notable investors backing the upcoming DEX platform are crypto stalwarts Mike Novogratz, German financier Christian Nagermayer, Richard Li, and Japanese investment bank Nomura. According to company statements, Bullish Global is focused on developing the decentralised finance (DeFi) far beyond its current position, which is already highly innovative. BG will provide automated market making, lending, and portfolio management ...

The recent activities of the U.S. Securities and Exchange Commission (SEC) have caused many cryptocurrencies to continue plunging further into the bear markets, resulting in significant declines in their previous gains over the past few months. Despite this bearish trend, a few assets are still defying market sentiment and showing signs of potential growth. One such asset is Level (LVL), which currently displays a bullish signal for the upcoming days and weeks. Is this hidden gem about to explode? Why Level (LVL) Might Be a Potential Hidden Gem That Could Explode Soon LEVEL has achieved growth surpassing all expectations. Within the initial month, the platform recorded a trading volume of $320 million, resulting in fees exceeding $400k and attracting a large thriving community. In just 110 days, the ecosystem accomplished a milestone of $10 billion in trading volume, generating $8.3 million in fees during that period. As time progressed, LEVEL’s momentum intensified, with $20 ...