FTX founder and onetime CEO Sam Bankman-Fried will stand trial in just under two weeks to defend himself against allegations he deliberately committed fraud and conspired to defraud crypto investors and customers in FTX and Alameda Research. CoinDesk spoke to several legal experts about how the case may proceed.
Source: Coindesk
Original Post: Here’s How FTX Founder Sam Bankman-Fried’s Trial May Play Out

Rumors of Mt. Gox mulling a delay have been doing the rounds and likely catalyzed the recent bitcoin price bounce.
Source: Coindesk
Original Post: Bitcoin Bulls Missing in Action After Mt. Gox Delays BTC Repayments

An ex-Alameda employee claims a trader at the firm punched in a wrong decimal which led to bitcoin's 87% drop on Binance.US in 2021.
Source: Coindesk
Original Post: Bitcoin’s 87% Drop in 2021 Was Caused by Sam Bankman-Fried's Alameda, Ex-Employee Claims

The company is backed by Shalom Meckenzie, the largest individual shareholder in sports betting company DraftKings.
Source: Coindesk
Original Post: DraftKings' Billionaire-Backed Crypto Analytics Firm CoinScan Raises .3M

The foundation behind layer 2 blockchain Optimism has sold 116 million OP tokens ($157 million) to seven separate purchasers, according to an announcement on the Optimism governance website.
Source: Coindesk
Original Post: Optimism Foundation Sells 7M OP Tokens, Citing 'Treasury Management'

The defunct crypto exchange has delayed the deadline for repayments to Oct. 31, 2024.
Source: Coindesk
Original Post: Mt. Gox Pushes Repayment Deadline by a Year

The IMX-Korean won pair listed on South Korea's leading exchange Upbit accounted for nearly 20% of the 24-hour global trading volume.
Source: Coindesk
Original Post: NFT Platform ImmutableX's IMX Token Surges 35% With Upbit Leading Volume Growth

Republican presidential candidate Vivek Ramaswamy will release a crypto policy paper.
Source: Coindesk
Original Post: Vivek Ramaswamy Is Drafting a 'Crypto Policy Framework'

A crypto-related bill meant to stifle a future U.S. central bank digital currency is now heading toward consideration on the floor of the U.S. House of Representatives after committee approval Wednesday, marking further progress for digital assets legislation in Congress.
Source: Coindesk
Original Post: U.S. CBDC Efforts Opposed in Legislation Advanced by House Republicans

The pause in rate hikes had been overwhelmingly expected by market participants, who will now begin focusing on the U.S. central bank's next policy meeting in November.
Source: Coindesk
Original Post: Bitcoin Tumbles to .9K on Hawkish Remarks by Federal Reserve's Powell

Source: Coindesk
Original Post: The Sam Bankman-Fried Trial Is a Family Affair

Last week marked the one-year anniversary of Ethereum’s historic “Merge” – the shift to a more energy-efficient proof-of-stake network. But in some ways the largest smart-contract blockchain has become a victim of its own success: Staking is so popular that the number of network validators is mushrooming toward 1 million, introducing new concerns related to the sprawl. We discuss how Ethereum developers are addressing the issue with the EIP-7514 proposal.
Source: Coindesk
Original Post: The Protocol: Ethereum Struggles With Sprawl as Optimism Airdrops M

Maker (MKR), the governance token of decentralized finance (DeFi) lender MakerDAO, is nearing its highest price since last May, buoyed by rising protocol profits and large investors accumulating the token.
Source: Coindesk
Original Post: MakerDAO’s MKR Nears 16-Month High as Whales Accumulate, Crypto Hedge Fund Sets Bullish Price Target

Explosive Ethereum growth is on the way, with layer 2s like Arbitrum, Optimism and now Base paving the way, Michael Nadeau of The DeFi Report writes.
Source: Coindesk
Original Post: Understanding the Economics of Ethereum Layer 2s

Why all the excitement about spot bitcoin ETFs? Well, a gold ETF was a huge deal for markets, and people wonder if $BTC might be next.
Source: Coindesk
Original Post: A Bitcoin ETF Has Golden Parallels From History

His planned exit follows that of the deputy CEO Noah Sharp in June.
Source: Coindesk
Original Post: BCB Group’s Chief Banking Officer Ian Moore to Leave This Month

The infamous balance sheet of Sam Bankman-Fried’s trading firm, Alameda Research, served as the basis for a Nov. 2, 2022, story by CoinDesk’s Ian Allison. The article raised questions about how sturdy the company’s financial underpinnings were – and, by extension, how safe Bankman-Fried’s better-known crypto exchange FTX was. For the protection of our sources we are not publishing the document itself but rather describing its contents – in finer detail than ever before.
Source: Coindesk
Original Post: Sam Bankman-Fried’s Empire Was Crushed by This Infamous Balance Sheet. Here’s More of the Story

In an exclusive interview, Antonio Juliano, founder of dYdX (and a former Coinbase software engineer), discusses his project's move to build a new layer-1 blockchain using Cosmos technology.
Source: Coindesk
Original Post: 'We Can't Build Something Like This on Ethereum,' Says DYdX Founder as Mainnet Nears

The crypto held in overseas accounts for about 70% of all assets held outside the country.
Source: Coindesk
Original Post: South Koreans Hold B of Digital Assets Overseas: Tax Service

GammaSwap developers say it's the first application to allow Arbitrum users to hedge against supplied liquidity by letting them go short on those positions.
Source: Coindesk
Original Post: Arbitrum Blockchain Traders Can Now Protect Against 'Impermanent Loss'