On the Pod…
What’s Poppin’?
The CFTC and the SEC allege that Sam Bankman-Fried defrauded investors and violated federal commodities laws, among other accusations.
Denied bail, Sam Bankman-Fried will remain in custody in the Bahamas until February.
The Commodities and Futures Trading Commission has alleged that former FTX CEO Sam Bankman-Fried went through a series of convoluted and illegal measures to hide Alameda’s liabilities.
Authorities in the Bahamas were reportedly all too happy to collaborate with Sam Bankman-Fried following his exchange’s collapse last month, US liquidators allege.
Solvency fears around the world’s largest crypto exchange appear to have been put to rest after it processed billions of dollars’ worth of withdrawals without an issue.
TODAY at 6pm ET/3pm PT: The Chopping Block
SBF's indictment. CFTC and SEC complaints. Alameda's (?) shutdown, John Ray's testimony. And MUCH MORE discussed today on The Chopping Block.
I'm going live with Haseeb, Robert, and Tarun at 6pm ET/3pm PT!
In Other News…✍️✍️✍️
Grayscale Bitcoin Trust (GBTC) shares rose to a record-high discount of over 50% relative to the underlying stock of Bitcoin after the US Securities and Exchange Commission restated its reasons for denying a BTC exchange-traded fund.
At a Tuesday hearing in the House Financial Services Committee, FTX CEO John Ray III, who is overseeing the exchange’s bankruptcy proceedings, revealed that its staff used consumer-level tax software QuickBooks for accounting as well as Slack for invoicing and expenses.
The Financial Stability Board, an international governing body, is reportedly making plans to regulate the crypto sector in early 2023, as the collapse of FTX further underlined the "need to address risks."
USDT-issuer Tether announced plans to remove secured loans from the stablecoin’s backing in 2023 amid concerns it won’t be able to honor redemptions in the event of a bank run.
The latest Consumer Price Index (CPI) report showed that inflation is slowing down, leading to a surge in Bitcoin and Ethereum prices as well as an increase in the overall value of the crypto market.
A class-action lawsuit has been filed against Bitcoin miner Iris Energy (IREN) after the firm said its revenue was not enough to satisfy its financing commitments.
MakerDAO passed an executive vote to increase the DAI Savings Rate (DSR) from 0.1% to 1%.
Today in Crypto Adoption...
The Central Bank of Brazil announced plans to introduce its own central bank digital currency (CBDC) by 2024.
The $$$ Corner…
Web3 game Dogami, which lets players adopt and raise virtual dogs, closed a $7 million seed extension round, totaling $14 million in funding since launching in 2021.
Woori Technology Investment led a $4.5 million Series A+ funding round for Sooho.io, a provider of decentralized finance (DeFi) services.
What Do You Meme
📈 Your Market Update 📉
BTC is up 2.28%, trading at $17,782
ETH is up 3.51%, trading at $1,319
BTC dominance: 37.88%
Crypto market cap: $902 billion
*All data as of today, 5 am ET
Recommended Reads
Justin Bons on the Replace by Fee (RBF) policy in Bitcoin:
CoinDesk’s Cheyenne Ligon, reporting on the ground from SBF’s bail hearing, describes the odd behavior of SBF’s parents:
Mihailo Bjelic on Polygon’s zk efforts:
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