Abu Dhabi is becoming a popular destination for crypto companies seeking eager investors and friendlier regulators, at a time when major markets like the US are experiencing an absence of both.Companies like Copper Technologies Ltd, Paxos Trust Co and eToro Group Ltdhave turned to Abu Dhabi as a destination for global expansion in recent weeks, securing licenses or establishing parts of their crypto businesses inside the emirate’s international e...
Binance co-founder Changpeng Zhao is facing up to three years in prison, if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely. Totaling nearly 350 pages, a trove of letters submitted to a Seattle court by Zhao’s confidantes and co-workers on Wednesday provide insight into the private life of one of the world’...
Mark Cuban warned Elon Musk on X that Donald Trump is only loyal to himself. At Williamsburg Pizza in New York, there is only one cryptocurrency you can use to pay for your pie: Dogecoin.You can also use the memecoin to buy a beer and the “famous wings,” or maybe a “Barry Bonds Homerun Baked Potato,” at the University Sports Grill in Tempe, Arizona. And even the most high-profile fan of Dogecoin, Elon Musk, has floated the idea of once again acc...
NEW YORK: A US judge on Friday canceled Sam Bankman-Fried's bail, citing reasonable suspicion that the charged creator of the insolvent FTX cryptocurrency exchange had attempted to influence witnesses on at least two occasions.The verdict was delivered by US District Judge Lewis Kaplan during a hearing held in a federal court in Manhattan, a mere two months ahead of the planned October trial for fraud."He has already - without violating any other...
NEW YORK: A jury convicted FTX co-founder Sam Bankman-Fried within hours of beginning deliberations, an unusually swift verdict after a monthlong trial in a complex white-collar case.Bankman-Fried was standing, holding his hands in front of him and looking at the jury box, as he listened to the verdict. He was led out of the courtroom a few minutes later as his parents watched from the front row of the public gallery.His father, Joseph Bankman, d...
NEW YORK: US prosecutors said they do not plan to conduct a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange.In a letter filed on Friday night in federal court in Manhattan, prosecutors said the "strong public interest" in a prompt resolution of their case against the 31-year-old former billionaire outweighed the benefits of a second trial.Prosecutors s...
Binance founder Changpeng Zhao was ordered to spend four months in prison for failures that allowed cybercriminals and terrorist groups to freely trade on the world’s largest cryptocurrency exchange.Zhao, 47, was sentenced Tuesday by US District Judge Richard Jones in Seattle. Dressed in a dark suit with a light blue tie, the billionaire arrived in court flanked by half a dozen lawyers.His mother and sister watched his sentencing from the front r...
NEW YORK: For the last eight months, Sam Bankman-Fried has been cooped up in his childhood home in Palo Alto, a 3,000-square-foot house, with a backyard and the company of his parents.But the FTX co-founder is now locked up inside Brooklyn’s Metropolitan Detention Center, a notorious facility for defendants awaiting trial on federal charges. Bankman-Fried’s $250 million bail package was revoked last week after Judge Lewis A. Kaplan in Manhattan f...
Bitcoin surpassed $45,000 for the first time in nearly two years as anticipation of an approval of an exchange-traded fund investing directly in the biggest token intensified.The cryptocurrency jumped as much as 5.2% to its highest level since April 2022 and traded at $45,443 as of 7am New York time. Other tokens also advanced with Ether, the second biggest, rising as much as 4.1%. Bitcoin has risen almost 20% since the start of December as a Jan...
Coinbase Global Inc, the largest US crypto exchange, is experiencing a system outage.The company notified users on its website at 12:19pm Singapore time on Tuesday, assuring them that their funds were safe. Over two hours later, Coinbase said in an update that it is “seeing some services recover” but is still working on fixing the issue, adding that customers may still experience “connectivity problems.”Crypto prices have fallen since the outage ...
