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johnd • Mar 28, 2024, 12:48 pm EDT

Sam Bankman-Fried Sentenced to 25 Years in FTX Fraud Case

Sam Bankman-Fried, founder of the now-bankrupt FTX cryptocurrency exchange, was sentenced to 25 years in prison by U.S. District Judge Lewis Kaplan on Thursday. This sentence follows his conviction for stealing $8 billion from FTX customers, marking the end of a dramatic fall from grace for the former billionaire. In a Manhattan court hearing, Judge Kaplan dismissed Bankman-Fried’s claim that FTX customers did not lose money and accused him of lying during his trial testimony. On November 2, Bankman-Fried, aged 32, was found guilty of seven counts of fraud and conspiracy related to FTX’s collapse in 2022, described by prosecutors

2 minutes

satoshin • Mar 26, 2024, 1:36 pm EDT

Assange is Given Permission to Ask for Permission to Request Permission

If it sounds absurd, it’s because it is. “How can you even entertain this hearing knowing what we know? It’s all on the public record. And yet it continues,” states Stella Assange outside London’s High Court where Julian Assange’s long-standing legal battle took a new turn as the British court ruled against his extradition to the United States, unless the U.S. government can guarantee he won’t face the death penalty. The latest development grants the WikiLeaks founder a reprieve, albeit temporary, in a saga that has captured global attention for over a decade. But what is really on trial when

3 minutes

johnd • Mar 20, 2024, 3:15 pm EDT

UK’s FCA Unveils New Overreaching Crypto Regulation

The UK’s Financial Conduct Authority (FCA) has taken a significant step in further regulating crypto assets, a plan they have outlined in their 2024/2025 Business Plan. The FCA’s initiative claims to tackle insider trading, market manipulation and the “neglect” of suspicious transaction reporting in the crypto sector. The move marks a concerning trend of increasing government intervention in a market trying to build upon fairness and transparency. Earlier this year the United Kingdom dialed up surveillance on digital assets held in self custody. Global Reach, Global Concerns The new FCA guidelines will scrutinize individuals and entities engaged in market abuse

2 minutes

arusso • Mar 11, 2024, 1:44 pm EDT

Bitcoin Breaks New Boundaries: Surpasses Market Cap of Silver

In a landmark financial achievement, Bitcoin has not only set a new all-time high of $72,417 but has also eclipsed the market cap of silver, marking its growing dominance in the global financial landscape. Bitcoin’s current market cap stands at a staggering $1.389 trillion, underscoring its phenomenal growth and increasingly pivotal role in the world of investment. The recent all time high, which follows less than a week after the assets previous new ATH of $68,869.87 on March 5th, indicates a bull market of unprecedented strength. It’s a powerful statement about Bitcoin’s value and potential, as it now sets its

2 minutes

johnd • Mar 7, 2024, 2:53 pm EST

Have U.S. Treasuries Shifted from “Risk-Free” to “Risky”?

The financial world is facing a paradox that many feel mirrors the 2008 crisis, where the once unassailable U.S. Treasuries, traditionally seen as the epitome of safety, are now perceived as potential liabilities. This profound change in perspective is evidenced by the International Swaps and Derivatives Association’s (ISDA) recent correspondence with key U.S. financial regulators, underscoring a deepening concern within the banking sector about the true risk of U.S. Treasuries. On March 5, 2024, the ISDA’s requested to exclude U.S. Treasuries from the supplementary leverage ratio (SLR) calculations reveals an uncomfortable truth. Banks, once reliant on these instruments for their

3 minutes

arusso • Mar 5, 2024, 10:40 pm EST

Bitcoin Hits New, Historic, All Time High

On Tuesday, March 5, 2024, the Bitcoin price broke past a new all-time high (ATH) of $68,869.87. While the price only held briefly, the milestone is particularly noteworthy as it marks the first time in Bitcoin’s history where it has reached new heights BEFORE a halving event. The previous ATH of $67,567, was recorded on November 8, 2021. Although the price ascent was brief, with values now hovering between $64,000 and $68,000, the implications of this milestone may be profound. The price action in dollars marks a new ATH in 14 currencies worldwide. The surge raises critical questions about the

2 minutes

satoshin • Feb 23, 2024, 12:05 pm EST

NEW Satoshi Emails Released in Court

Fresh emails written by Satoshi Nakamoto, the enigmatic creator of Bitcoin, have been made public. These emails, exchanged between Satoshi and cypherpunk Adam Back in the pivotal years of 2008-2009, were revealed in a recent court case, offering a rare glimpse into the early days of the revolutionary digital currency. Satoshi Nakamoto, a pseudonym that has captivated the crypto world for over a decade, remains an unidentified figure despite various claims, most notably by Craig Wright. However, in the ongoing case between the Crypto Open Patent Alliance (COPA) and Wright in the UK High Court of Justice, these newly surfaced

3 minutes

carlp • Feb 21, 2024, 10:36 am EST

Bitcoin ETFs Surpass 2.4 Billion Weekly Inflows

Just six weeks after the SEC first approved 11 spot Bitcoin ETFs, BlackRock, the world’s largest asset manager, has amassed over 100,000 bitcoin, backing its own spot Bitcoin exchange-traded fund (ETF), $IBIT. The remarkable success of the bitcoin ETFs not only underscores the growing acceptance of Bitcoin as a legitimate asset class but also heralds in a new era for the ecosystem. With a staggering 105,280 bitcoin now under its management, valued at an eye-watering $5 billion, BlackRock’s entrance into the bitcoin space with $IBIT has been nothing short of meteoric. Since its inception in January, the fund has seen

2 minutes

arusso • Feb 20, 2024, 10:07 am EST

Is Self Custody Under Attack?

Significant concerns have been raised about the future of financial autonomy, as the United Kingdom appears to be tightening its grip on cryptocurrency transactions, particularly those involving self-custodial wallets. Kraken, a leading cryptocurrency exchange, has been compelled to inquire into its UK users’ self-custodial wallet activities, citing unspecified local regulations. Kraken’s Unprecedented Request to UK Users Kraken’s recent directive to its UK clientele to verify their self-custodial wallets or validate their identities marks a departure from the traditional ethos of cryptocurrency, which values privacy and user autonomy. This development, first highlighted by Kraken’s UK user James Van Straten, signifies a

3 minutes

carlp • Feb 19, 2024, 11:38 am EST

Florida Continues to Lead the Way in Legislative Cooperation

Florida’s Legislative Strides in Blockchain and Bitcoin: Pioneering a Crypto-Friendly Future Florida’s recent legislative session, heavily influenced by the efforts of the Florida Blockchain Business Association (FBBA) and key industry players including our own Byte Federal, Inc., has seen significant developments and wins for the bitcoin and blockchain ecosystem. These legislative moves position Florida as a frontrunner in the digital currency space, aligning with a global ecosystem that is increasingly embracing blockchain technology. Overview of Key Blockchain and Bitcoin Legislation The session’s highlight is the array of bills that reflect a keen interest in integrating blockchain technology and bitcoin into

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