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Concept Of Digital Wallet And Bitcoins On Printed Circuit Board. Bitcoins Spill Out Of The Pink Curved Smartphone.

The FTX Trial is Heating Up

Convicted for fraud, the former crypto mogul Sam Bankman-Fried is trying to offload the blame. But a key witness weakens his case.

The trial of Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX, is underway in Manhattan. Investors in FTX lost billions of dollars earlier this year, but Bankman-Fried is denying alleged fraud and misuse of funds. However, prosecutors are accusing him of systematically stealing those funds and channeling them unto personal means. A bombshell witness, Caroline Ellison, Bankman-Fried’s ex-girlfriend and a “top executive” in his business, took the stand earlier this month and supported the criticisms of the prosecution. David Gura writes for NPR, Though other former top executives at FTX businesses are testifying during the trial, Ellison was always considered the most important witness. After prosecutors first called her to the witness stand, everyone stood and faced the Read More ›

Business woman using tablet with cryptocurrency bitcoin link network concept

Will Going Mainstream Spoil the Fun for Crypto?

Crypto exchange FTX.US is, for a tidy sum, naming a Berkeley sports field, with philanthropy thrown in

At least one cryptocurrency exchange seem to be settling into the accustomed round of corporate donorship that creates name recognition with the public. FTX.US, affiliated with global crypto exchange FTX, has given Cal Athletics (University of California, Berkeley) $17.3 million for the right to call the field at field at California Memorial Stadium “FTX Field” for ten years. FTX has been creating recognition with other strategic donations as well: FTX has been on a sports and e-sports sponsorship spending spree this year. In March, the exchange secured the naming rights to the home arena of NBA team Miami Heat for a reported $135 million, while in June, the exchange paid $210 million to acquire the naming rights for e-sports organization Read More ›