The recent disclosure by Aditya Baradwaj, a former engineer at Alameda Research, sheds light on the lax security practices that ultimately led to substantial losses for the company. It appears that the founder, Sam Bankman-Fried (SBF), prioritized rapid growth over essential risk management protocols, resulting in significant challenges related to account reconciliation, trading safety measures,
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In a recent AMA session, Cardano founder Charles Hoskinson expressed his views on the US Securities and Exchange Commission’s (SEC) alleged regulatory leniency towards Ethereum. Hoskinson highlighted the Himman emails and other revelations, which he believes expose the SEC’s thought process and demonstrate unequal application. He did not see anything inherently wrong with favoritism, suggesting
When it comes to blockchain technology, speed is often a key factor that determines its success. On October 11, the Open Network Foundation (TON Foundation) made an exciting announcement – it will be participating in a Guinness World Records-approved competition to claim the title of the “world’s fastest blockchain.” This public network performance test is
U.S. Senators Elizabeth Warren and Angus S. King, Jr. are pushing for the expedited implementation of new tax reporting rules for cryptocurrency brokers. The senators have expressed concerns over the significant delay in enforcing these rules, which has resulted in the loss of billions in tax revenue for the federal government. It is imperative to
A recent research conducted by K33 has provided insights into the current state of the cryptocurrency market. According to the study, Bitcoin continues to dominate the market as the most appealing cryptocurrency. The researchers believe that the higher premiums in Bitcoin futures trading, coupled with its potential as digital gold and the upcoming launch of
Telegram’s partner, the Open Network (TON) Foundation, has recently announced a groundbreaking collaboration with Alibaba Cloud. The partnership aims to set up 256 servers for an upcoming performance testing event scheduled for October 31, 2023. The objective of this event is to officially establish the TON blockchain as the world’s fastest blockchain and earn accreditation
The Federal Open Market Committee (FOMC) recently held a meeting in September, where it reaffirmed its commitment to raising interest rates. This decision comes in light of the current economic environment, marked by rising inflation, slowing job gains, and strong GDP growth. However, despite previous rate hikes, the committee expressed dissatisfaction with the inflation levels,
Tezos (XTZ) has been experiencing significant volatility in the past 48 hours, with fluctuations that have placed it among both the top gainers and top losers of the week. However, as the price action currently hovers around the 20-day moving average (20DMA), many may be wondering if it is too late to buy Tezos. In
The U.S. Securities and Exchange Commission (SEC) has found an ally in the North American Securities Administrators Association (NASAA) regarding their legal actions against Coinbase. The NASAA, a nonprofit association of securities regulators, expressed their support by stating that cryptocurrencies are not inherently fraudulent. However, they also acknowledged that the sector has become a breeding
The recent SBF trial took an unexpected turn when Alameda Research CEO, Caroline Ellison, testified and revealed shocking details about the fraudulent practices committed under the direction of Sam Bankman-Fried (SBF). Ellison confessed to diverting billions of dollars from FTX customer funds to pay off debt accumulated by Alameda Research. This revelation not only highlighted