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Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty to federal fraud charges. However, Ellison is working on a plea bargain with the U.S. Attorney’s Office for the Southern District of New York that would avoid all seven charges against her, with a $250,000 bail bond and charges for criminal tax violations only. This agreement does not provide protection against other charges Ellison may face from other authorities. Wang and Ellison are reportedly working with US authorities on an investigation related to the collapse of FTX.
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Global investment bank Houlihan Lokey has proposed a plan to solve liquidity problems for crypto lender Genesis and its parent company Digital Currency Group (DCG). The plan, devised by Houlihan on behalf of the Board of Creditors, will provide more avenues for customers of cryptocurrency exchange Gemini to recover assets owed to Genesis and DCG. Withdrawals on the Genesis platform have been suspended since November 16, days after the company revealed that nearly $175 million of his funds were stuck in his FTX account.
Bitcoin for the weekend (Bitcoin) is $16,835,ether (ethereum) and $1,218 When XRP and $0.35The total market capitalization is $811.38 a billion, according to Go to Coin Market Cap.
Among the 100 largest cryptocurrencies, this week’s top 3 altcoin earners are the XDC Network (XDC) 14.04%, Ether (Ethereum) 2.13% Pax Dollar (USD) at 1.47%.
This Week’s Top 3 Altcoin Losers Are Chains (XCN) -39.75%, Filecoin (FIL) -21.77%, Trust Wallet Token (TWT) -19.43%.
For more information on crypto prices, be sure to read Cointelegraph’s market analysis.
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Regulation should focus on intermediaries (centralized actors in cryptocurrencies) who need additional transparency and disclosure.
This is why situations like the Mango exploit happen. Exploiters first steal funds, then start negotiations. There is no proper incentive to report.
If we can create a wallet that will be used by a billion people, that would be a huge opportunity.
Vitalik Buterin, Co-Founder of Ethereum
Decentralization includes blockchain as a building block, but other technologies expand possibilities in new ways that blockchain was never designed for.
Argentina is becoming a hub for bringing technological developments and resources from around the world to Latin America.
Ryan Dennis, Senior Manager, Stellar Development Foundation
“The hardest thing for me is [blockchain analytics] Companies working on this today are no longer able to track money, so it’s time for money to move off the chain and into the banking system. “
peter smith, Founder and CEO of Blockchain.com
Bitcoin price fell below $16,700 over the weekend after some recovery in the previous day.
A Santa Claus rally against Bitcoin is unlikely, as the mood among some experts is downright bearish.
pseudonymous Twitter user Daan Crypto Trades has drawn attention to Bitcoin’s annual earnings results. “This year’s loss rate is right in between his two negative years of 2014 and his 2018,” he noted on his Twitter account.
South Korean authorities continue to investigate and freeze the funds of those involved in the Terra ecosystem. A district court order has frozen multiple assets of his Terraform Labs affiliate, Kernel Labs, worth $92 million. Kernel Labs CEO Kim Hyun-Joong reportedly holds the largest illegal earnings from Terra. In November, more than $104 million in assets were also frozen following a request from South Korean prosecutors in the case.
This year saw the crypto industry reorganize towards a greener and more energy efficient blockchain.
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