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Bankman-Fried pleaded not guilty to all seven counts of fraud charges related to the collapse of crypto exchange FTX. The ongoing criminal trial involving FTX founder Sam Bankman-Fried (SBF) will move into closing arguments on November 1.  On Day 15 of the SBF trial , lead defense attorney Mark Cohen's request for acquittal was denied by presiding judge Lewis Kaplan. Instead, the case will move to closing arguments from both sides at 9:30 a.m. ET (1:30 p.m. UTC) on Nov. 1, with all evidence discovery concluded. Attornies from both sides declined to call any further witnesses.  SBF has pleaded not guilty to all seven fraud-related charges in his criminal case, but is expected to face five more counts in a second trial scheduled to start in March 2024, including the alleged $150 million bribe of a Chinese government official. During discovery, prosecutor Danielle Sassoon presented documents, tweets, and corporate messages attesting that the crypto executive siphoned $8 billion ...

Estimates in September revealed that at least $35 million in crypto has been stolen from victims of the LastPass breach since 2022, with the latest hack adding to the toll. At least 25 people have reportedly seen $4.4 million in crypto drained from across 80 wallets due to a 2022 data breach that impacted password storage software LastPass. In an Oct. 27 X (Twitter) post, pseudonymous on-chain researcher ZachXBT said they and MetaMask developer Taylor Monahan tracked the fund movements of at least 80 wallets compromised on Oct. 25. “Most, if not all, of the victims are longtime LastPass users and/or confirm having stored their [crypto wallet] keys/seeds in LastPass,” Monahan said in an accompanying Chainabuse report. Just on October 25, 2023 alone another ~$4.4M was drained from 25+ victims as a result of the LastPass hack. Cannot stress this enough, if you believe you may have ever stored your seed phrase or keys in LastPass migrate your crypto assets immediately. pic.twitter.com/2...

A U.K. parliamentary committee called for a crack down on sports fan tokens and recommended the government issue a code of conduct for NFT platforms. A bipartisan parliamentary committee has urged the British government to protect creators from copyright infringement associated with nonfungible tokens (NFTs) and address potential harms from sporting groups issuing digital assets. In an Oct. 11 press release, Culture, Media and Sport Committee members warned the “most pressing issue” was the risk to artists’ intellectual property rights arising from the ease and speed at which NFTs can be minted, compared to the slow process for artists looking to enforce their rights. “Artists are at risk of seeing the fruits of their hard work pinched and promoted without permission while fraudulent and misleading adverts add an extra layer of jeopardy for investors involved in what is already an inherently risky business,” said committee chair Dame Caroline Dinenage. In an accompanying report, the c...

Dubai-based blockchain platform Flare announced the integration of the blockchain indexing solution network Subsquid. The Flare and Subsquid integration aims to provide better access and usability of blockchain data for Web3 developers. The Flare and Subsquid integration aims to achieve the following benefits: Enable developers to easily access historical and real-time data from the Flare network without needing an archive node or a centralized service provider. Allow developers to customize their data pipelines and APIs using Subsquid’s ETL query stack, which can also make external API calls to Flare’s APIs. Enhance the security, reliability, and scalability of data access and storage using Subsquid’s distributed data lake and Flare’s decentralized network. Foster innovation and collaboration in the blockchain ecosystem by supporting various decentralized applications (DApps) and use cases that leverage Flare’s smart contracts and interoperability ...

Mixin Network suffered a breach in its third-party cloud server database resulting in the theft of nearly $200 million worth of digital assets. Mixin Network, a decentralized cross-chain protocol, in a message to the hacker behind the $200 million exploit on Sept. 23, has offer ed a $20-million bug bounty for the return of the remaining funds. Mixin Network encrypted the message with the exploiter transaction, requesting the exploiter to return the funds as the majority of the stolen funds were user assets. “Most of our platform assets were users, and we hope you can refund them. You can keep $20M of the assets as a BUG Bounty Reward for the BUG.” Mixin Network confirmed the exploit on Sept. 25, claiming the exploiters managed to breach a third-party cloud service provider, which resulted in the theft of nearly $200 million of assets from the platform. [Announcement] In the early morning of September 23, 2023 Hong Kong time, the database of Mixin Network's cloud service provide...

Tether in its email said they found Cake DeFi to be controlled by “another corporation that resides in Singapore,” and thus they won’t be allowed to redeem USDT. Tether, the largest stablecoin issuer behind USDT, has reportedly changed its terms of services (ToS) in Singapore. An email shared by the decentralized finance protocol Cake CEO on Sept. 25 shows the changes to Tether's ToS prohibiting certain customer base from redeeming USDT. The CEO of Cake Group Dr. Julian Hosp took to social media platform X (formerly Twitter) to share the email received from Tether informing that they cannot redeem USDT for USD due to the changes in the ToS of the stablecoin issuer just one day ago. Ok, so, I won't be able to tell you if redeeming $USDT into $USD is actually possible, due to being in #Singapore, which was a recent change to the @Tether_to ToS from one day to another. Interesting. pic.twitter.com/1YzNqkbjMO — Dr. Julian Hosp (@julianhosp) September 25, 2023 Hosp in his X ...

Cryptocurrency trading venues have changed tremendously since Bitcoin’s emergence in 2008 and are still evolving. So, what are the newer exchange models beyond CEXs and DEXs in 2023? Phemex, an innovative crypto exchange, is at the forefront of the hybrid trading approach. Rooted in a firm commitment to decentralization, Phemex provides CEX-like liquidity, user-friendly functionalities, and access to DeFi opportunities through its Phemexia ecosystem. Over the years , crypto currency trading venues have come a long way — from the Bitcoin Market exchange owned and operated by a single anonymous user, dwdollar, in 2010 to automated market makers (AMMs) relying on mathematical formulas to price assets a decade later. Centralized exchanges (CEXs) use an order book where market makers and takers place their orders. Their order books then match buyers and sellers, and the exchanges take a small portion of the transaction as a fee. Their counterparts, decentralized exchanges (DEXs), opera...

JPMorgan Chase is developing a blockchain-based digital deposit token to speed up cross-border payments. According to a source familiar with the matter, the US’s biggest bank by assets has developed most of the initial infrastructure needed to run the new form of payment. However, they’ll have to wait for US regulators to approve. JUST IN: JPMorgan Chase is developing a blockchain -based digital deposit token to speed up cross-border payments. — Watcher.Guru (@WatcherGuru) September 7, 2023 The anonymous source adds that the bank may launch the token for use by corporate clients less than a year after any approval. For context, a Deposit token is a transferable digital coin that represents a deposit claim against a commercial bank. Because transactions with these coins are on a digital blockchain, they are processed and settled instantly. “Deposit tokens bring plenty of potential benefits, but we also appreciate that regulators would want to be thou...

Users were prevented from withdrawing their CYBER Earn assets on the exchange due to a cross-chain bridging issue. Crypto exchange Binance is refunding users 1 million Tether ($1 million) over its handling of the CyberConnect (CYBER) token incident . As narrated by the exchange on Sept. 7, a price discrepancy on listed CYBER tokens occurred the week prior due to a liquidity crunch constricting CYBER cross-chain bridges on Korean cryptocurrency exchange Upbit. This led to arbitrageurs borrowing CYBER from Binance to profit from the differential. In turn, Binance users who staked CYBER in its Flexible Earn Program were barred from redemptions as the staked assets had been borrowed, reaching the loan limit. The exchange stated: "Other than Proof-of-Stake (PoS) based products, a large part of crypto flexible financial products generate income by lending out subscribed assets to other users via Margin or collateralized loans. Under extreme conditions, borrowers may not be able to r...

The blockchain analytics firm claims Grayscale is the world's second-largest BTC entity. Blockchain analytics platform Arkham Intelligence claims to have identified the addresses of the Grayscale Bitcoin Trust. The trust consists of more than 1,750 addresses holding a total of over $16 billion worth of Bitcoin (BTC), according to a Sept. 6 thread on X (formerly Twitter). Arkham claimed that Grayscale is “the 2nd largest BTC entity globally.” Breaking: Arkham has identified the Grayscale Bitcoin Trust’s holdings on chain. It is the 2nd largest BTC entity globally, holding >$16B of BTC. Though Grayscale publicly reports balances, they have refused to identify the on-chain addresses of the trust. https://t.co/uEN4kNldpm pic.twitter.com/p9GfrthoKR — Arkham (@ArkhamIntel) September 6, 2023 The Grayscale Bitcoin Trust holds over $16 billion in BTC. Its issuer, Grayscale, is currently battling with the U.S. Securities and Exchange Commission (SEC) as it attempts to transform the tr...

The price of STX has been on the rise becasue of the new Ordinals Protocols. It is a new protocol that allows NFTs to be stored on the Bitcoin blockchain . advertisement Stacks (STX) Bags Inflows In the last two weeks, Stacks noted a massive price surge, but today, the altcoin exploded and rose by 66.84%. In doing so, the coin marked a local top of $0.6831. But the bullishness over the last 30 days combined with the cues from the broader market is the actual reason behind this rise. Source – CoinMarketCap According to data from the crypto market tracker CoinMarketCap, STX has observed rising bullishness since the beginning of this year, after successfully marking a bullish crossover on the day before. In the past four weeks, the token has surged nearly 120%, putting it among the top-performing cryptocurrencies so far. Transaction Volume Soars by 500% Stacks (STX) is currently ranked the 52nd-largest digital asset by market capitalization, but...

TRM Labs estimates that North Korean hackers have stolen $200 million of cryptocurrency in 2023 alone. North Korean hackers continue to threaten the broader cryptocurrency ecosystem, having stolen an estimated $2 billion of crypto over the past five years. Blockchain intelligence firm TRM Labs released its latest deep dive into the murky world of cryptocurrency-related hacking, focusing on the exploits of North Korean cybercriminals. According to TRM Labs’ data, North Korea has stolen around $200 million of crypto in 2023, accounting for 20% of all stolen funds this year. North Korean cyberattacks are estimated to be 10 times larger than attacks by other malicious actors. Hackers from the country have also honed in on the decentralized finance (DeFi) ecosystem, preying on cross-chain bridges that continue to handle a significant volume of cryptocurrency transfers. Related: North Korea stole more crypto in 2022 than any other year: UN report Cross-chain hacks, such as the Axie Infini...

UK-based research company Quantum Blockchain Technologies has developed algorithmic search methods that boost Bitcoin mining efficiency and reward probability, CEO Francesco Gardin says in an interview. Quantum Blockchain Technologies (QBT), a research company based in the United Kingdom, has developed artificial intelligence-powered algorithms that could significantly increase the mining winning probability of certain ASIC Bitcoin (BTC) miners, CEO Francesco Gardin said in an interview with Cointelegraph. Speaking exclusively to the publication, Gardin unpacked how Quantum Blockchain Technologies (QBT) has incorporated AI to enable the smart search of winning hashes as an alternative to conventional random searches. In the space of two years, the company has developed a number of different patented methods by tapping into the expertise of some twenty experts from the fields of quantum computing, machine learning, cryptography, ASIC chips design and algorithm optimization theory. Rela...

The decentralized stablecoin is facing its first stress test since it was released in May, putting its PegKeeper algorithm to work. Curve Finance's native stablecoin crvUSD briefly depeg ged on Aug. 3, react ing to an uncertain environment surrounding the protocol after its recent exploit. In the course of the day, the stablecoin fell by as much as 0.35% before regaining its peg to the United States dollar. Curve's crvUSD uses a mechanism for maintaining its peg called PegKeeper algorithm, which manages the interest rate and liquidation ratio based on the stablecoin supply and demand to maintain its value. In other words, it ensures that the crvUSD value is properly backed by collateral while balancing supply and demand. On Twitter, Curve Finance compared the stablecoin's devaluation to the Silicon Valley Bank collapse in March, which resulted in the brief depegging of USD Coin (USDC). "Events of recent days felt similar to SVB/USDC situation in some sense. However, c...

Blockchain is making waves in the electronic music industry, bringing customer loyalty, engagement and industry collaboration. Blockchain technology is often associated with the finance industry, namely, the usual suspects like traditional finance (TradFi) or decentralized finance (DeFi). However, the technology is industry-agonistic and can transform any sector that relies on data and interactions. One of the industries that could benefit from blockchain adoption is entertainment — specifically the electronic music market. Challenges facing the electronic music industry  The dance music marked valued at around $10,2 billion in 2022, and boasting a dedicated fan base of hundreds of thousands of people, has long been lacking in terms of providing reciprocal benefits to its passionate supporters. Until now, there has been an absence of a cohesive global community that effectively communicates and derives advantages from the considerable contributions made by these fans to the scene. Due...

BNB Beacon Chain mainnet is set to undergo the "ZhangHeng" hard fork around July 19, which will bring new upgrades aimed at improving security. The Binance-operated BNB Beacon Chain mainnet is set to add a new feature in its upcoming hard fork, which will give the blockchain the ability to “halt” the production of new blocks if certain conditions are met. In a July 12 statement from BNB Chain, the “ZhangHeng” upgrade is expected to take place at block height 328,088,888, which it expects will occur on July 19. Important information about our latest upgrade ️https://t.co/4sJkTJbGeZ — BNB Chain (@BNBCHAIN) July 12, 2023 The hard fork will introduce Binance Evolution Proposal BEP-255, which seeks to implement "on-chain asset reconciliation" — which Binance believes could mitigate damage from potential cross-chain bridge exploits such as the Binance Smart Chain exploit on Oct. 7, 2022.  "Although some enhancements have been made to improve cross-chain security, ...

Ripple’s operations gear up in Europe and Asia despite an ongoing lawsuit with the U.S. Securities and Exchange Commission. Cryptocurrency payments service provider Ripple continues to see global adoption of its payment services despite a long-winded legal battle with the United States Securities and Exchange Commission (SEC) over its XRP (XRP) token. In a wide-ranging interview with Cointelegraph at Money 20/20 in Amsterdam, Sendi Young, Ripple’s managing director for Europe and the United Kingdom, unpacked the firm’s growing remit worldwide, despite ongoing regulatory scrutiny in the United States. Cryptocurrency exchanges and businesses have clashed with U.S. regulators over the past year, with a lack of regulatory clarity threatening to stifle innovation and adoption of blockchain-based services, systems, and cryptocurrencies. Meanwhile, the European Union is well on its way to instituting a set of requirements and standards for the cryptocurrency industry across the continent af...

Nolus’ DeFi lending protocol aims to onboard more people by solving collateralization inefficiencies. Crypto lending has become an essential part of decentralized finance (DeFi), allowing people to lend and borrow digital assets via specifically designed protocols. With crypto lending, users can lock their crypto assets as collateral and then borrow a fiat or stablecoin loan. Instead of traditional intermediaries, like banks and credit unions, DeFi lending protocols operate directly on a blockchain. Smart contracts facilitate each loan or borrowing, and on-chain supply and demand decide the interest rates. Reports expect a $231 billion DeFi market by 2030, with lending protocol s being a key element driving the growth. According to a CoinGecko research report, lending has more than an 11% market share in the DeFi ecosystem, and it stands as one of the five biggest DeFi sectors. Users flock to DeFi lending protocol s to avoid directly selling their crypto holdings, which they expect...

Projects were allegedly swayed into signing contracts with dubious market makers as consideration for listing on crypto exchange Coinone. According to local news outlet The JoongAng, an indictment on May 22 revealed that four individuals named Mr. Jeon, Mr. Kim, Mr. Ko and Mr. Hwang in court proceedings, all of whom were employees of South Korean crypto exchange Coinone, allegedly used illicit means to profit more than 2.98 billion Korean won ($2.26 million) during coin listing s from various projects. At least 46 coins were involved in the incident lasting from November 2019 to December 2022, accounting for nearly 25% of all tokens listed on Coinone. As told by prosecutors, Coinone executives and staff members required projects to sign a market-making (MM) contract with a specific MM company through brokers before a coin’s listing. This was done to ensure sufficient liquidity in trading volume after the new coins were listed. However, the contract’s recipients allegedly operated i...