NEW YORK, NY – DECEMBER 22: FTX founder Sam Bankman-Fried leaves Manhattan Federal Court after his arraignment and bail hearings on December 22, 2022 in New York City. Bankman-Fried, who was indicted on December 9th and arrested 3 days later by Bahamas law enforcement at the request of U.S. prosecutors, consented to extradition to the U.S. where he is facing eight criminal counts of fraud, conspiracy and money-laundering offenses which includes making illegal political contributions. He is potentially facing life in prison if convicted. He was released on $250 million bond with the bail package requiring him to stay with his parents in California. (Photo by David Dee Delgado/Getty Images)
Sam Bankman-Fried (SBF) responded to the news of “Alameda Research Crypto wallet activity status” and confirmed that he was not behind any crypto activities.
Sam Bankman-Fried (SBF) is the former CEO & founder of FTX Crypto exchange. He was also a 95% owner of the Crypto hedge firm Alameda Research. SBF misused the FTX customer’s funds & also funded Alameda with the help of FTX exchange unethically. The whole thing resulted in a bad outcome for the FTX exchange & all of its companies including Alameda and finally, on 11 Nov FTX filed for bankruptcy in a US bankruptcy court under the Chapter 11 code.
Three days ago, Cointelegraph reported that the Crypto wallets of Alameda Research are now active, meaning crypto transactions started, just after SBF secured bail on behalf of a $250 million bond.
The report also noted that the majority of the people in the Crypto Community claim that it was SBF who is now free to use Alameda Research’s financial tools.
On 31 Dec, SBF responded against all these allegations and said that he can’t access any of Alameda Research’s funds anymore.
“None of these are me. I’m not and couldn’t be moving any of those funds; I don’t have access to them anymore,” SBF said.
Further SBF said that such activities might be part of the legit works by the legit actors in the FTX exchange and if any regulatory body wants help on this matter then he will.
I believe it is likely the case that various legit legs of FTX have the ability to access these funds; hopefully that’s what’s happening here. If not, hopefully one steps in soon to do so. I would be happy to help advise regulators on this if any wanted.
Earlier this, SBF confirmed that he owns only $100k in his net worth and he could only access that limited money. He also said that he can’t access any of the accounts of FTX or Alameda Research.
1) I still do not have access to much of my data — professional or personal. So there is a limit to what I will be able to say, and I won’t be as helpful as I’d like.
But as the committee still thinks it would be useful, I am willing to testify on the 13th. https://t.co/KR34BsNaG1
Bitcoin trader & investor since 2013. Love to share valuable information among people who don’t believe in Blockchain technology and based cryptocurrency
Emiliano Grodzki stepped down from the role of Bitfarms CEO.
Bitfarms Ltd. (BITF) is one of the world’s big Bitcoin mining companies. This company operates a hash rate representing approximately 2% of the global Bitcoin network, which is itself a very big thing for this company as a Bitcoin network supporter. In the past 5-6 months, the majority of the Bitcoin mining companies faced a significant downfall in terms of revenue because of the downfall in the price of Bitcoin as a usual market winter phase.
Recently Emiliano Grodzki announced that he stepped down from the CEO role but confirmed that he will remain in the company as a new Chairman of the Board of Directors, moving from the position of Executive Chairman. Initially, he co-founded Bitfarms in Canada in 2017 with his partner Nicolas Bonta.
Now, Bitfarms has promoted Geoffrey Morphy from the president and chief operating officer (COO) role to CEO. So now the new boss of Bitfarms is Morphy.
“Our foundational work over the last years built the strength and depth of skills we needed to navigate external factors. I’m even more optimistic today about Bitfarms’ long-term prospects than when I joined the company back in 2020.” – new CEO Morphy said.
The company stated that Morphy joined Bitfarms around two years ago but he contributed greatly to the company’s management team, corporate structure, governance and control, investor relations, and operations and strategy. In short, Morphy contributed hugely in a short period and probably he may work as a CEO perfectly for this company.
It is worth noting that many executives from big Crypto companies stepped down from their positions because of the significant downfall in the Crypto sector. In 2022, many crypto companies collapsed & filed for bankruptcy. The latest bankruptcy was filed by FTX, Alameda Research, BlockFi, Global Genesis Trading like companies.
Pi coin listing on Crypto exchanges pumped this coin by more than 80 times from its initial launch price.
The pi coin is a most popular Crypto project, which was initially founded approximately 4 years ago. So far to this date, the mainnet has not been launched by the project team. The majority of the Pi coin project supporters are noobs of the Crypto sector, who blindly support this project.
In the last 2-3 days, 5 Crypto exchanges listed PI coin on their exchange. These exchanges are Huobi, SuperEx, XT, Hotpoint, and Biconomy.
In the last 24 hours, the all-time low & highs of PI Coin was $3.96 & $330 respectively. This means, in the last 24 hours of the time frame, pi coin surged by 84.61 times. So, net all-time increment in Pi Coin is 2380%
This is a very big increment for this coin, which is still not available on any blockchain network. The Pi network team also talked about this thing and warned people & suggested to remain away from this coin.
The Pi team confirmed that the listing of Pi coins on any exchange was not affiliated with the Pi team and also there was no association between the exchange & Pi project. And also confirmed that after the Pi mainnet launch there will be possibilities that users will not be able to transfer their Pi coin on these listed exchanges.
These types of Crypto incidents are showing that we shouldn’t believe any Crypto project blindly and also we shouldn’t judge any Crypto project. Experts believe that there are some big money holders behind this fake coin and they are manipulating the price of this coin to attract innocent Crypto investors.
The financial agreement deal between Voyager Digital & Binance.US may face some significant impact because of the federal committee review.
Voyager Digital is a Crypto Brokerage platform. On 1 July 2022, Voyager suspended its services like “trading, deposits, withdrawals and loyalty rewards” because the company was under a financial struggle as Three Arrows Capital had not repaid loans totaling $666 Million. On 5 July, This company filed for bankruptcy under chapter 11 in the US bankruptcy court.
Experts noted that court filing showed that financial transactions between Binance.US & Voyager Digital may fall under the review by the Committee on Foreign Investment in the United States (CFIUS).
The filing notice stated:
“(BinanceUS & Voyager financial agreement under CFIUS’ review) could affect the ability of the parties to complete the transactions, the timing of completion, or relevant terms.”
So, here it will be a type of shock for not only BinanceUS but also for the customers & creditors of Voyager Digital because the deal may terminate or will take a huge time to reach the final phase.
Binance & Voyager Digital agreement
As we know that Voyager Digital is a bankrupt Crypto company. Initially, FTX crypto exchange & Binance were trying to acquire this company, and FTX won the bid but FTX itself faced the situation of bankruptcy.
On 19 Dec, Voyager Digital confirmed through a press release that it had agreed to a financial deal with BinanceUS, to bring the services of the platform back to normal.
After the completion of the financial deal, Binance.US will purchase all the assets of Voyager Digital for $1.022 billion and it will be a fair value for Voyager.
Before Binance.US, a CrossTower-named company was trying to acquire Voyager but Binance.US won the bid.
Reportedly the data of Gemini Crypto exchange was hacked by hackers & now they are selling on DarkWeb.
Gemini is an averagely popular Crypto exchange, which is ranking at 6th position in the Crypto space, in terms of 24 hours global Crypto trade volume on its platform.
The services of this exchange are available in multiple countries, including 49 US States.
On 30 Dec, A Twitter user reported that the user database of Gemini Crypto exchange was stolen by a hacker and now that data is being sold on the Dark Web.
According to reports, in the stolen database there are details of more than 5.7 million Gemini users. Earlier this month, Gemini admitted that the platform faced some security issues but failed to disclose the actual problem that the platform faced.
Gemini exchange confirmed that all the funds of the users are safe and also user & platform data was not breached but at the same time warned customers to remain aware of phishing scams.
Hoskinson on Gemini database leak
Charles Hoskinson, the founder of Cardano blockchain, recently talked about the Gemini exchange during the Twitter space podcast and said that it is good that Gemini so far has not listed the ADA coin.
Hoskinson quoted the “Gemini data hack & sale on DarkWeb” news with a gif image.
At the time of writing this article, the price of ADA coin is $0.2455 and this price is 22.73% down over the last 30 days of trade price.
The Honda Civic continues to sit at the top of the small car segment against rivals like the Mazda 3 and Toyota Corolla. The 2022 Civic is available in two versions, a sedan or hatchback, which means the slow selling coupe is gone. The 2022 Honda Civic is a reliable and well-rounded compact car that will easily satisfy more buyers.
The last generation’s styling turned off some buyers. The 2022 Civic sedan, however, has addressed this issue with a more sophisticated and refined design that resembles a smaller version of the Accord. The new hatchback model also offers a sportier and more versatile alternative to the sedan. The entire 2022 Civic lineup boasts a more mature and elegant look, with the hatchback featuring a unique grille and a sleek roofline that flows into the rear. The hatchback also has a longer wheelbase and a wider track than the previous generation which gives it more interior space and cargo capacity.
The 2022 Civic is available with two engine options, a 2.0-liter four-cylinder or a 1.5-liter turbocharged four-cylinder, with a continuously variable transmission (CVT) or a six-speed manual. The 2.0-liter engine generates 158 horsepower and 138 pound-feet of torque. The EX-L and Sport Touring models get the turbo with 180 hp and 177 lb-ft. The LX and EX-L models are only available with the CVT, but both the Sport and Sport Touring are available with either a six-speed manual or a CVT.
The 2.0-liter with the CVT is rated at 30 mpg city, 38 mpg highway and 33 mpg combined with the base LX trim level. The Sport with the CVT is rated at 29/37/32 mpg, while the manual version is rated at 26/36/29 mpg. The 1.5-liter with the CVT is rated at 31 mpg city, 39 mpg highway and 35 mpg combined in the EX-L. The Sport Touring is rated at 30/37/33 mpg with the CVT and 28/37/31 mpg with the manual.
The Civic has good ride and handling, with a sophisticated ride and the ability to absorb bumps in the road. The 2022 Civic gets a new steering rack, a new front suspension, stiffer springs, upgraded stabilizer bars and new dampers. The steering is perfectly weighted with good feedback and the firm ride isn’t punishing.
The interior has also been upgraded with a minimalistic design, improved materials, and an upgraded tech system with a standard 7-inch touchscreen and optional 9-inch infotainment system. The infotainment system is an improvement over the last system, the system reacts fast, but it doesn’t look or feel years ahead of the last one. The graphics could look better.
Inside you’ll find that the Civic hatchback is a lot more spacious than either the Corolla or Mazda 3 hatchbacks. There’s plenty of room for five and also more cargo room than its rivals.
On the safety front, the 2022 Civic comes standard with a long list of driver assistance features, like automatic emergency braking, adaptive cruise control, road-departure mitigation, lane-keeping assist, lane departure warning, automatic high beams and traffic-sign recognition. A blind-spot monitor is standard on the EX-L and Sport Touring models.
The 2022 Civic hatchback starts at $23,915, including destination, but if you want the top spec Sport Touring that you see here, it starts at $30,810.
At the end of the day the 2022 Honda Civic is a top pick in the small car segment, with efficient and refined powertrains, entertaining handling, class-leading safety, and impressive technology. It is a reliable and well-rounded vehicle that is suitable for a wide range of drivers. Regardless of body style or trim, the Civic should be on your small car shopping list.
Reportedly Vidente Co Vice president Mr. Park committed suicide.
Mr. Park was president of Vidente Co. and also one of the biggest shareholders of the South Korean Crypto Exchange Bithumb.
On 30 Dec, Many reports confirmed that Mr. Park was found dead near his house. According to the police investigation, it was not a murder instead he jumped from his house window to kill himself. So Police believes it is a suicide case.
Chinese Crypto blogger Collin Wu reported that some investigation was already going on against Mr.Park over suspicion of corruption and the Bithumb’ stock price manipulation.
According to Money Today, the vice president of Vidente, the largest shareholder of South Korean cryptocurrency exchange Bithumb, committed suicide by jumping off a building while being investigated by South Korean prosecutors, suspected of corruption and price manipulation.
Reports noted that an investigation is also running against many executives of Inbiogen company, which holds a major stock of shares of Vidente. Reportedly, Park was in connection with these executives to manipulate prices and all these executives had placed all the blame only on Park. But now Park’s case may close soon, as he is dead.
Earlier this, in Oct 2022, We reported that Lee Jung-hoon, owner of Bithumb exchange, faced charges of $70 million fraud and Korean prosecutors urged the court to sentence him behind the bars for 8 years.
According to YNA, South Korean prosecutors are asking the court to sentence Lee Jung-hoon, the owner of South Korean crypto exchange Bithumb, to eight years in prison on charges of fraud worth about $70 million. https://t.co/Q7r0OsJen9
At that time Bithumb owner also said sorry to the public and also admitted that his fraud activities outside the exchange’ operations degraded the reputation of Bithumb exchange.
Lee said:
“I am very sorry for making it difficult for employees and causing social pressure.”
South Korea is a highly crypto-adoptive region in the world. To save the citizens from any kind of Crypto-related fraud, the Korean government introduced strict regulatory policies on Crypto companies. To this date, less than half a dozen crypto companies are allowed to provide crypto-fiat paired services in South Korea.
The Bahamian Securities Commission has taken custody of $3.5 Billion worth of crypto assets from the FTX exchange.
FTX was a 2nd ranked crypto trade platform, which was providing services globally. The headquarter of this exchange is in the Bahamas. Initially FTX headquarter was in Hong Kong but due to strict crypto regulatory policies, the exchange shifted its headquarters to the Bahamas. Due to mismanagement of the customers’ fund, FTX collapsed & finally filed for bankruptcy in a US bankruptcy court on 11 Nov.
On 29 Dec, The Bahamian Securities Commission (BSC) informed through a press release that the agency has taken custody of FTX deposits valued at more than $3.5 billion.
$3.5 Billion is the worth of the FTX customer’s Crypto assets as of 12 Nov 2022.
BSC noted that the funds under the control of the FTX exchange were not safe for customers & creditors. The agency stated:
“determined that there was a significant risk of imminent dissipation as to the digital assets under the custody or control of (FTX) to the prejudice of its customers and creditors.”
The press release confirmed that BSC will hold the funds until the Bahamas Supreme Court will order to release the funds to FTX customers, who are the actual owner of these funds.
Hack attack on FTX exchange
On 11 Nov, FTX filed for bankruptcy along with more than 100s of its affiliated companies.
Just after filing for bankruptcy, Exchange confirmed on its Telegram channel that its exchange wallet was compromised and a hacker was able to steal $372 million worth of crypto assets from the exchange.
Few media reports claimed that FTX never faced any kind of hack attack, after the bankruptcy filing. And suspicious Crypto transactions were part of the former or current corrupt employee of the FTX exchange.
Reportedly China planned to launch its NFTs trade platform at the new year party.
China is a tech-adaptive country but its Inclination toward the Crypto sector is not adaptive. In mid of 2021, China announced a national Crypto ban & kicked out all the Crypto-related services provider companies from the country. Many experts believe that China imposed ban on cryptocurrencies to make the adoption growth of its national Central Bank Digital Currency (CBDC), or say, Digital Yuan, successful.
Recently a local Chinese media reported that China is planning to launch a fully regulated NFTs trade platform on 1 Jan 2023.
The newly built platform will run on Wenbao Chain, a blockchain network owned by Art Exhibition China.
According to available details on this project, the state-owned Chinese technology exchange, the state-owned Art Exhibitions China, and Huban Digital Copyrights Ltd contributed together to build this NFT platform.
In short, the Chinese NFT trade platform will be more likely to the usual NFTs marketplace but there will be no involvement of Cryptocurrencies, as cryptocurrencies are banned in this country.
Reports confirmed that every Chinese institution & individual can register to the platform for the copyright protection service. Under the existing Crypto ban provisions, trading of NFTs assets is a speculation based activity & Chinese government announced a dedicated NFTs trade ban in early 2022. So probably here the new NFTs trade platform will be something different, where the value of NFTs collectibles will be under another standard regulation.
Chinese CBDC adoption plunges
China introduced its digital Yuan for retail users in late 2021 and in Q4 2021 People Bank of China reported that its digital Yuan was getting a significant adoption rate.
But a few recent reports noted that Digital Yuan struggled badly in terms of adoption rate among the citizens, despite following a better strategy to push people to use Digital Yuan as an alternative of Cash for daily life payment purposes.
A group of non-US based customers stressed that their private details in the FTX’s US bankruptcy documents may pose a significant risk to their privacy.
FTX exchange was a popular Crypto Exchange and also was ranking at the second position in the Crypto sector in terms of 24 hours global Crypto trade volume on its platform. But misuse of the user’s fund by FTX co-founder Sam Bankman-Fried (SBF) resulted in the downfall of FTX’s business. On 11 Nov, the FTX team filed for bankruptcy in a US-based bankruptcy court under chapter 11.
The services of the FTX exchange were available globally, so FTX also submitted all individual details of customers in the bankruptcy filing, which includes names, address, fund holding & also their overall financial activities.
On 28 Dec, “The Ad Hoc Committee of Non-US Customers of FTX.com” submitted a joint filing in the court to remove all critical data of the non-US customers to protect them against any potential risk of identity theft.
“Requiring the Debtors to disclose the FTX.com customers’ names and other identifying information to the general public would cause irreparable harm, further victimizing the FTX.com customers whose assets were misappropriated.”
In this committee, there are a total of 15 people and they are representing non-US based customers with over $1.9 Billion funds locked in FTX exchange.
Opposite of this, In the second week of this month a motion was filed by the U.S. Trustee to keep the details of the FTX customers open in the FTX bankruptcy filing, so that bankruptcy proceedings remain transparent.
This is not the first time in the history of the Crypto sector, earlier this year Celsius’s bankruptcy filing also exposed the details of all the customers, which was really a very big sensitive matter. At that time many people raised their voices but happened nothing.
