cryptocurrency exchange
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Coinbase Accounts Are Sinking to Zero in Mass Outage
Coinbase users are reporting that their accounts are showing a “zero balance” on Wednesday afternoon. Coinbase confirmed the problem on its status page at 12:40 p.m. ET but claims customer cryptocurrency funds are safe. This comes as Bitcoin’s price surged nearing its all-time high. “We are aware that some users may see a zero balance…
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Binance CEO Pleads Guilty to Money Laundering Violations, Will Step Down
Binance founder Changpeng Zhao (CZ) will step down from his CEO duties and plead guilty to criminal charges, paying a $US50 million fine, according to court documents made public Tuesday. The Department of Justice is expected to announce a $US4 billion settlement with Binance this afternoon, putting an end to a fierce legal battle between…
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SBF Finally Testifies in Court With No Jurors Present
FTX founder Sam Bankman-Fried testified in his fraud trial Thursday with no jury present. In his testimony, he acknowledged that Alameda was being used as a payment processor for FTX, but did not recall conversations around the $US13 billion hole in his crypto empire, according to Bloomberg. Bankman-Fried is on trial for allegedly defrauding FTX…
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FTX Workers Knew About Alameda’s Backdoor into Customer Funds: Report
Last year, it took reporters digging into Alameda Research’s balance sheet to finally show that ex-FTX CEO Sam Bankman-Fried’s big crypto house of cards was built on a shaky bedrock of customer funds. But according to a new report, a few FTX employees were well aware that Bankman-Fried’s hedge fund Alameda had backdoor access to…