Month: October 2023

The ongoing criminal trial involving FTX founder Sam Bankman-Fried (SBF) will move into closing arguments on November 1. On Day 15 of the SBF trial, lead defense attorney Mark Cohen’s request for acquittal was denied by presiding judge Lewis Kaplan. Instead, the case will move to closing arguments from both sides at 9:30 a.m. ET…

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Web3 theft hit a low point for the year so far in October, CertiK reported. Losses to hacks, exploits and scams confirmed by the blockchain security firm amounted to $32.2 million for the month across 38 incidents, with no single incident leading to a loss of over $7 million. Compared to the ten-month total of…

Read More “October sees a comparative lull in crypto crime with losses of $32.2M: CertiK” »

Sam Bankman-Fried (SBF), the founder of cryptocurrency exchange FTX, claims that spending clients’ fiat deposits was just part of “risk management” for his intertwined crypto hedge fund Alameda Research. During the former crypto executive’s court testimony on October 31, prosecutor Danielle Sassoon of the Southern District of New York asked SBF if he believed that…

Read More “SBF says spending FTX customers’ money was part of ‘risk management’: Report” »

The Ethereum layer 2 ecosystem is likely to continue evolving with diverse technological approaches, according to co-founder Vitalik Buterin. The co-founder of the smart contract blockchain unpacked the current landscape of Ethereum’s scaling ecosystem on his personal blogwith a number of layer 2 protocols differing in their approaches to bring greater scaling capacity, lower costs…

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