Who Are Those Co-Signers? 👀
In today's edition: 🤫 SBF's appeal, 🕵️♀️ 3AC's founder is not cooperating, ❌ the pleading of a former Coinbase manager, and more!
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What’s Poppin’?
by Juan Aranovich
SBF Appeals to Keep Co-Signers' Names Confidential
Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, is fighting to keep the names of the co-signers of his $250 million bond confidential. Bankman-Fried has filed an appeal to a judge's decision to unseal the names of the two co-signers.
Last month, U.S. District Judge Lewis Kaplan granted a motion to unseal the names of the co-signers after a group of media outlets requested the court to make the names public. Bankman-Fried's lawyer argued that the co-signers could face privacy and security issues if their names were revealed.
SBF’s Request to Modify Bail Terms Denied by Judge
A US District judge has ruled against Sam Bankman-Fried's request to modify his bail conditions and cancel a hearing scheduled for Thursday.
The former CEO of FTX has agreed to stop using encrypted messaging apps, like Signal, after being accused by prosecutors of contacting a potential witness in his criminal case. Judge Lewis Kaplan has rejected Bankman-Fried's motion to change his bail conditions and the Thursday hearing will proceed as planned.
Three Arrows Capital Cofounder Defies Court Order
Kyle Davies, the former CEO of crypto hedge fund Three Arrows Capital, did not comply with a court subpoena for the fund's financial records.
Davies is accused of obstructing the investigation and promoting new crypto ventures. The current representatives of the bankrupt company, Russell Crumpler and Christopher Farmer, claim that Davies has only provided limited information and has failed to cooperate with their efforts. They have now requested the court to force Davies to comply with the subpoena, with a hearing scheduled for March 2.
Former Coinbase Product Manager Pleads Guilty to Insider Trading Charges
Ishan Wahi, a former product manager at Coinbase, has admitted to participating in an insider trading scheme where he front-ran token listings on the platform by providing information to his brother and friend. He has pleaded guilty to two counts of wire fraud and faces a maximum of 40 years in prison, though his cooperation may result in a lesser sentence.
This guilty plea may impact the ongoing civil case brought against him by the SEC, who accused him of making over $1 million by informing others of upcoming token listings. Coinbase is not implicated in the case.
In Other News…✍️✍️✍️
American authorities requested to postpone the civil fraud suits against Sam Bankman-Fried, the founder of FTX, until the completion of the criminal case against him, as stated in court records.
Sullivan & Cromwell, a law firm, charged $7.5 million for their services in the FTX bankruptcy case in just 19 days, according to a court filing.
The SEC issued a warning to investors to be cautious of cryptocurrencies in individual retirement accounts (IRA), stating that many crypto assets could be unregistered securities trading on unregistered exchanges.
Eight Democratic lawmakers called for the US government to require cryptocurrency miners to disclose their energy consumption data.
Cryptocurrency companies such as Binance, Tether, Bitfinex, OKX, and Kucoin pledged over $9 million in aid for the earthquake victims in Turkey and Syria.
The Bank of England is considering limiting citizens to holding 10,000 British pounds in the new digital pound to avoid undermining the banking system.
In a blog post, WazirX, an Indian cryptocurrency exchange, denied the accusations made by Binance and is taking legal measures to protect its legal rights.
The Bank for International Settlements (BIS) plans to improve payment systems and secure the financial sector through Project Pyxtrial, an experiment to help central banks monitor stablecoins and balance sheets launched by the Innovation Hub's London Centre.
Lido announced its latest upgrade, which will enable Ethereum staking withdrawals and feature support for additional routers to foster decentralization and encourage involvement in the Lido ecosystem.
ConsenSys is financially supporting a lawsuit that challenges the IRS' ability to tax staking rewards, with the lawsuit arguing that self-generated staking rewards should not be considered taxable income under federal law.
Today in Crypto Adoption...
The Sandbox and the Saudi Arabia Digital Government Authority signed a memorandum of understanding to collaborate on the Metaverse with details not disclosed.
Argentina's National Securities Commission (CNV) will put in place and enforce standards for crypto businesses operating within the nation.
The $$$ Corner…
SALT Lending raised $64.4 million in a Series A funding round by selling shares to accredited investors after its previous sale failed due to FTX's collapse.
Polychain Capital and dao5 led a $10 million funding round for SPACE ID, a startup working on decentralized identities.
Hut 8 Mining and U.S. Bitcoin Corp announced a merger to create a North American crypto mining giant with a market capitalization of $990 million and equal stock ownership among shareholders.
What Do You Meme
📈 Your Market Update 📉
BTC is up .76%, trading at $23,189
ETH is up 1.82%, trading at $1,671
BTC dominance: 39.72%
Crypto market cap: $1.13 trillion
*All data as of today, 5 am ET
Recommended Reads
Christine Kim on MEV
Andrew R. Chow from Time on How Logan Paul’s Crypto Empire Fell Apart
Surf on SocialFi
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