🕵️♂️ FBI Exposes SBF's Political Ties
In today's edition: 😡 Reddit points axed, 🤷♀️ Fed's CBDC stance, 🛑 Binance.US withdrawals, 🎉 Scroll mainnet, and more!
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👨⚖️ Sam Bankman Fried’s Trial Coverage
SBF Trial, Day 10: Defense Struggles to Discredit Nishad Singh’s Testimony
On day 10 of the SBF Trial, the defense aimed to undermine the credibility of ex-FTX head engineer Nishad Singh, who on Monday testified against former FTX CEO Sam Bankman-Fried. Meanwhile, FBI Agent Richard Busick exposed Bankman-Fried’s connections to high-profile politicians.
Defense Tries but Fails to Undercut Nishad Singh’s Credibility
After a cross-examination that seemed to make headway, the prosecution batted away doubts about Nishad Singh. Plus, Sam Bankman-Fried’s cell phone revealed connections to high-powered politicians in New York.
What’s Poppin’?
by Sam Sriram, Brandy Betz and Juan Aranovich
Reddit to Discontinue Community Points Citing Scalability and Regulatory Issues, Sparking Community Backlash
The decision to phase out the blockchain-based rewards program has led to a sharp decline in token values and ignited strong reactions from the Reddit community.
Binance.US Ends Direct Dollar Withdrawals
Dollar deposits on the crypto exchange are also no longer insured by the FDIC, according to the updated terms of use.
Fed Governor Doesn’t See Need for CBDCs
Federal Reserve Governor Michelle Bowman sees more risks than rewards in potentially issuing a U.S. central bank digital currency.
$7 Million Stolen From Fantom Foundation and Employees in Hack
The Fantom Foundation confirmed that it lost $550,000 in a hack that targeted Fantom wallets.
Ethereum Layer 2 Scroll Confirms Mainnet Is Live
The team behind the project confirmed the Mainnet launch, although blockchain data shows it has been live since Oct. 8.
Daily Bits…✍️✍️✍️
🚨 Sui Foundation refuted claims of token supply manipulation after a 9% drop, following scrutiny from South Korean Financial Supervisory Service.
🔮 21.co predicts the market for tokenized real-world assets could reach up to $10 trillion by 2030 as crypto and traditional finance converge.
🔒 dYdX transitioned to become a Public Benefit Corporation and introduced its V4 protocol, focusing on scalability and user experience.
📉 Everscale token price dropped by 20% as the team announced a large number of EVER tokens were stolen, leading to the temporary disconnection of the Octus Bridge.
🇨🇦💸 Calgary residents lost over $22.5 million to crypto scams this year, prompting a warning from Canadian police; scam reports have increased compared to 2022.
The $$$ Corner…
🎮 'Life Beyond' team raised $3.5 million in Bitcoin metaverse token pre-sales, backed by investors like Gamefi Ventures and Animoca Ventures.
🗂️ Fileverse secured $1.5 million in pre-seed funding to offer a decentralized file management alternative to Google and Notion.
📰 BC Technology denied Bloomberg's report claiming its Hong Kong-based crypto exchange OSL is up for sale at a $128 million valuation.
🤝 BitGo acquired crypto wealth management platform HeightZero; financial details undisclosed.
What Do You Meme?
Recommended Reads
Raghav Agarwal and Shi Khai Wei on Storage Proofs
Unchained: What Is a Crypto Wash Sale?
📈 Your Market Update 📉
BTC is down .3%, trading at $28,406
ETH is down .4%, trading at $1,582
BTC dominance: 49.15%
Crypto market cap: $1.13T
*All data as of today, 7:40 am ET
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