Cryptocurrency

Caroline Ellison, a pivotal witness in the proceedings and former associate of Bankman-Fried, stood her ground as defense lawyer Mark Cohen attempted to discredit her contributions. Ellison, who previously managed Alameda Research under Bankman-Fried and was personally involved with him, confessed to misusing FTX exchange customer funds under his direction. She also admitted to distributing a misleading document about Alameda’s financial health among employees.Despite Cohen’s efforts to undermine her credibility, Ellison insisted on her prior claims. She alleged that Bankman-Fried was aware of Alameda’s precarious financial situation but continued to borrow billions from FTX customers. These funds were subsequently used for political donations and real estate acquisitions, as disclosed during an all-hands meeting.Following the collapse of both FTX exchange and Alameda Research, several high-ranking executives including Gary Wang and Nishad Singh, along with Ellison, pled guilty to fraud charges. The trial has also brought attention to Bankman-Fried’s reactions during Ellison’s testimony, which were noted by Assistant U.S. Attorney Danielle Sassoon and addressed privately by Judge Lewis A. Kaplan.Further adding to the trial’s developments, Christian Drappi, a former developer at Alameda Research, testified about his astonishment at the companies’ downfall.The trial also revealed that F.B.I. agents had executed a search warrant at the home of Ellison’s parents, Sara Fisher Ellison and her unnamed boyfriend who had formerly worked for Bankman-Fried. Throughout the duration of the trial so far, Ellison has held approximately 20 meetings with prosecutors.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The industrial park is located in the Luohu district of Shenzhen adjacent to Hong Kong. It is opening with nine residents. According to reports, the district government has announced ten “initiatives to boost the development” of the digital yuan ecosystem that involve payment solutions, smart contracts, hard wallets and digital yuan promotion.Continue Reading on Coin Telegraph More

In einem Thread auf X stellt Joe Burnett, der Senior Product Marketing Manager des Krypto-Zahlungsdienstleisters Unchained, entsprechend fest, dass die FTX-Geschäftsführung die Kursentwicklung von Bitcoin damals absichtlich gedämpft hat.Lesen Sie weiter auf Cointelegraph More

Looking at the bigger picture, Bitcoin is holding up admirably, especially when compared to gold, which has fallen by 5% since June, and Treasury Inflation-Protected bonds (TIP), which have seen a 4.2% drop during the same period. Merely maintaining its position at $27,700, Bitcoin has outperformed two of the most secure assets in traditional finance.Continue Reading on Coin Telegraph More

According to an Oct. 10 press release by the Nanchang People’s Court, in April 2021, an individual known as Mr. Ming lent a total of 80,000 Tether (USDT) to an individual known as Mr. Gang for stablecoin trading. The loan was to be repaid within six months. However, Mr. Gang defaulted on the loan, leading Mr. Ming to sue his counterparty in court. Continue Reading on Coin Telegraph More

The report, released on Thursday, also highlighted the limited contagion between crypto markets and traditional finance, even during major events such as the crypto “Lehman moment”. It noted that no substantial impact on traditional markets has been observed so far.However, ESMA did warn of potential systemic risks if DeFi gains substantial traction or if its interconnections with traditional markets become material. The authority also pointed out the potential concentration risk with the three largest protocols representing 30% of DeFi’s total value locked (TVL).Additionally, ESMA expressed concerns over investor protection risks due to the speculative nature and operational vulnerabilities in DeFi. These concerns come amid ESMA’s increased scrutiny following its second consultative paper on Markets in Crypto-Assets (MiCA) regulations.It is important to note that the total assets of EU financial institutions amount to approximately $90 trillion, which puts into perspective the current size of the crypto market.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

In September 2023, the Company ceased its operation in the Indiana facility and gradually moved its operation to the Wyoming facility.As of September 30, 2023, the total mining hash rate stands at 320 PH/s with 3,200 miners installed in the Wyoming facility, with the remaining 1,050 miners waiting to be deployed.The Company mined 15.9 Bitcoins and achieved a revenue of US$416,444 in September 2023.As of September 30, 2023, the Company operates in a mining data center facility in Wyoming, which the Company is an investor. The Company ceased its operation in the mining facilities in Georgia from December 2022 and Indiana from September 2023 respectively.Mining Site – Cheyenne, WY, 45MWOn June 15, 2022, the Company announced that it entered into a set of definitive agreements with a private cryptocurrency mining investment fund (the “Fund”). The Fund is investing in a mining site (the “Project”) in Wyoming, U.S. with a capacity of up to 75 MW.Phase I of the Project of a capacity of up to 45MW for the mining facility in Wyoming was energized in March 2023. The Phase II of 25MW is undergoing engineering design process currently. About Bit Origin Ltd Bit Origin Ltd, formerly known as China Xiangtai Food Co., Ltd., is an emerging growth company operating in the United States and engaged in the cryptocurrency mining business. The Company is also actively deploying blockchain technologies alongside diversified expansion strategies. For more information, please visit https://bitorigin.io.Safe Harbor StatementThis announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.Company ContactBit Origin Ltd Mr. Lucas Wang, Chairman and Chief Executive OfficerEmail: [email protected] keep updated on Bit Origin’s news releases and SEC filings, please subscribe to email alerts at https://bitorigin.io/contact Source: Bit Origin Ltd More

The updated filings include an expanded prospectus detailing the proposed BTC ETF’s structure, asset custody procedures such as individual wallets for each Bitcoin, and valuation methods. They also highlight the creation of segregated accounts on the Bitcoin blockchain for holding assets. These adjustments signify a proactive dialogue with the SEC and progress being made towards potential approval.Bloomberg analysts viewed these amendments as positive signs. They noted that the prospectus is now five pages longer, reflecting ARK’s thorough response to SEC’s comments.Meanwhile, Grayscale Bitcoin Trust (GBTC) is approaching a crucial deadline following a New York court ruling against the SEC’s refusal of its application to convert into a spot Bitcoin ETF. The regulator is obligated to deliver a final verdict by January 10, 2024. GBTC’s Net Asset Value (NAV) discount is diminishing rapidly, indicating market anticipation of likely SEC approval.There are two prevailing theories regarding the SEC’s decision-making process: it may either have to approve all compliant applications or could approve all simultaneously to avoid giving any applicant a first-mover advantage. The market predicts mass approval by January next year, with early approval deemed unlikely and rejections considered improbable due to the initiation of dialogue by the SEC and the ongoing recovery of GBTC’s NAV.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More