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FTX spend the most money on luxury hotels, flights, and food, with a total of $40 million spent close to nine months before its collapse. The funds were divided, with $15 million allocated for high-end accommodation, including over $5.8 million on the Albany Hotel, where Sam Bankman Fried lived before his arrest. A sum of $3.6 million was put down for the Grand Hyatt. This is a four-star hotel where the British royalty was[…]
We have come to the end of 2022, and as a trader or investor, you have probably experienced firsthand the continuous fall of the crypto market. Is it the end of the bear market? Nick Saponaro, the crypto enthusiast and CEO of Divi, has what to say on the market trends this previous year. Saponaro believes that the end is yet to come. He perceives another dip and eventually a gradual climb up to[…]
The year 2022 has been challenging for crypto assets; we’ll give you a roundup of the expected prices of cryptocurrencies for 2023. As some major companies filed for bankruptcy this year, the crypto sector was put into distress. As a result, some assets went through a major recovery to the green side. Bitcoins market cap dropped by 66.8%. However, other altcoins were more severely affected by the bear market this year. Ethereum’s market price,[…]
The cryptocurrency world is growing by the day, and there are many new assets to buy in 2023. Familiarizing yourself with new cryptocurrencies is essential to see which assets suit you. – FightOut FGHT is the best new cryptocurrency you should buy in 2023. FGHT is the native token newly launched from the project FightOut. Although this is only the beginning of its presale, the launch has attracted $2 million worth of funding in[…]
The credit card giant Visa has introduced their newest proposal for Ethereum integration. This will allow Ethereum transactions possible without a third party. Self-payments will be possible through self-custodial wallets. These transactions using Visa and the Ethereum integration will probably be done using Account Abstraction, a feature of Ethereum that is currently being reviewed for automatic payments. Customers can pay recurring bills using this service, something Ethereum does not now provide. The Process of[…]
The Indian Government has given answers to the two main questions that have risen about the crypto bill and regulation. Bhartruhari Mahtab, the Parliament member, questions the ministry of finance to state “the current status of the cryptocurrency bill, which was due for being tabled during the winter session, 2021, of the Parliament.” In addition to “the timeframe within which the cryptocurrency bill would be tabled and subsequently be open for public inputs.” Ministry[…]
On Sunday night, the CEO of Twitter, Elon Musk, put up a poll that may result in him stepping down as CEO. The results ended Sunday morning with 57.5% of the votes saying he should step down, with 42.5% saying he should stay. Before the results were determined, Elon Musk said he would abide by the poll results, whether that’s stepping down or not. Before Elon Musk took over as CEO of Twitter, there[…]
The FTX fall can affect the market in three ways. FTX is a crypto exchange that was once worth $32 billion. Market experts and investors are trying to measure the extent of damage it has caused to the crypto market and the effects it will have in the coming years. The former boss of FTX, Sam Bankman Fried, stepped down on Nov 11 and was arrested last week in the Bahamas. Bankman Fried was[…]
SEC Chairman Gary Gensler talks about crypto regulation as highly important. On Friday, Gensler spoke before the U.S. Treasury Departments Financial Stability Oversight Council. He said, “Nothing about the crypto market is incompatible with the securities laws. Yet risks from this speculative volatile, and what I believe is a largely non-compliant market, put investors at risk.” He detailed, “This is why bringing intermediaries and issuers of crypto securities tokens into compliance is so important.” […]
Thursday, December 8, resulted in Scott + Scott Attorneys at Law LLP filing a law suit against people promoting the Bored Ape NFTs. The complaint was against Yuga Labs Inc, more commonly known for promoting the Bored Ape Yacht Club NFT collection. The other defendants are celebrities with the accusation of hyping up the value of Yuga Labs NFTs. According to a Deadline report, some of the defendants are Justin Bieber, Paris Hilton, Madonna,[…]