💔 SBF vs. Ellison: Who Will the Jury Believe?
In today's edition: 🤯 Ellison's accusations, ⚖️ 3AC's $248 million claim, 💰 Bitfinex's $150M buyback, 🛡️ Hamas Accounts Frozen, and more!
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👨⚖️ Sam Bankman Fried’s Trial Coverage
SBF Trial, Day 5: SBF’s Defense Finally Found Its Legs, But Can It Counter Caroline Ellison?
Reporting from inside the courtroom, Laura covers Caroline Ellison’s testimony about her relationship with Sam Bankman-Fried, which seemed to set up a potential showdown in which the former lovers may blame each other for Alameda using FTX customer funds. In its cross-examination of Gary Wang, the defense finally mounted a more coherent defense after a first week in which it largely floundered.
SBF’s Defense Found Its Footing. Will It Be Enough to Rebut Caroline Ellison?
In cross examining FTX cofounder Gary Wang, SBF’s lawyers finally scored some points. But both he and former Alameda CEO Caroline Ellison said they took direction from Bankman-Fried.
Trial of Sam Bankman-Fried Live: Former Alameda CEO Caroline Ellison Accuses SBF of Financial Crimes
Ellison testified that she had committed fraud and other crimes at Bankman-Fried’s direction.
What’s Poppin’?
by Sam Sriram, Brandy Betz and Rosie Perper
Judge Sends 3AC’s $248 Million Claim Against BlockFi to Mediation
A bankruptcy judge asked the two companies to work out a settlement in a mediation window scheduled for January 2024.
FTX Staffers Raced to Save Assets from Exploiter After Bankruptcy Protection Filing: Report
In the hours after the crypto exchange filed for bankruptcy, staff raced to protect as many assets as possible from the unknown attacker.
Bitfinex Owner Proposes $150 Million Share Buyback: Report
The company that owns the crypto exchange offered shareholders who bought the stock in a 2016 swap arrangement $10 per share for 15 million shares.
Binance’s Promotional Partner Blocked by UK Regulator as Strict Rules Come Into Effect
The Financial Conduct Authority (FCA) has blocked Rebuildingsociety.com from approving crypto promotions in the region.
Binance Helps Israel Police Freeze Hamas Crypto Accounts: Report
The militant group behind a deadly rocket strike last weekend was reportedly using crypto accounts to raise funds online.
Daily Bits…✍️✍️✍️
⚖️ State securities regulators supported the SEC in its lawsuit against Coinbase, arguing that digital assets should not receive special treatment under existing laws.
Crypto exchange WOO plans to repurchase its own shares and tokens from Three Arrows Capital.
🔍 Binance's $1 billion Industry Recovery Initiative has deployed less than $30 million, despite pledges from multiple crypto firms.
📉 Bitcoin network transactions sharply declined to around 283,000 weekly, a level not seen since February, following the peak hype around Ordinals in September.
📝 ZeroSync's cofounder unveiled the BitVM whitepaper, aiming to expand Bitcoin's smart contract capabilities without requiring network upgrades.
🛡️ Following a DNS attack, web3 platform Galxe announced a refund of over $396,000 plus an additional 10% to more than 980 affected users.
🛒 U.S. supermarket Trader Joe’s filed a lawsuit against a decentralized exchange, Trader Joe, accusing it of federal trademark infringement over its name.
🛑 Crypto exchange Bitstamp will cease its services in Canada starting Jan. 8, 2024, and has urged customers to withdraw their funds by then.
📜 The U.K.'s Culture, Media and Sport Committee urged NFT marketplaces to implement measures against copyright infringements and establish a creator protection code of conduct.
Today in Crypto Adoption...
🏦 JPMorgan's Tokenized Collateral Network (TCN) went live, completing its first transaction involving BlackRock and Barclays for collateral settlement in an OTC derivatives trade.
🎮 Immutable collaborated with Amazon Web Services (AWS) to develop infrastructure solutions aimed at scaling blockchain games, joining AWS's ISV Accelerate Program.
The $$$ Corner…
💰 Tokenized RWA marketplace, Untangled Finance, launched on the Celo network with $13.5 million in funding, aiming to bring tokenized private credit on-chain.
What Do You Meme?
Recommended Reads
BobBodily on BitVM
Manufacturing Consensus by Dryden Brown
Unchained: What Is Impermanent Loss in Crypto?
📈 Your Market Update 📉
Bitcoin Slips to $27.4K Amid Escalating Israel-Hamas War but Long-Range Impact Remains Uncertain
Bitcoin as a safe haven is one of several narratives that could influence its price, an analyst says.
BTC is up .3%, trading at $27,617
ETH is down .6%, trading at $1,585
BTC dominance: 48.5%
Crypto market cap: $1.11T
*All data as of today, 7:00 am ET
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