created at

【朗報】FTX Court Saga: Shocking Testimonies Revealed in Alameda Fraud Case

Former CEO's Revelation Sheds Light on FTX Crisis

In the ongoing FTX court saga, Caroline Ellison, the former CEO of Alameda, testified that FTX founder Sam Bankman-Fried (SBF) was directly responsible for the misuse of user funds. Ellison admitted to committing fraud under Bankman-Fried's directives, but she claimed that he had "set up the systems" that led to Alameda taking approximately $14 billion from the exchange. These bad loans caused market panic around FTX, resulting in users withdrawing their funds and the eventual collapse of the exchange.

Further Funds Planned to Repay Customers

During the court proceedings, Ellison revealed that FTX intended to raise additional funds in order to compensate its customers for their losses. However, the specifics of how these funds would be sourced and disbursed were not disclosed. Ellison also disclosed Bankman-Fried's aspirations to become the President of the United States and his efforts to secure investment from influential figures such as Saudi Crown Prince Mohammed bin Salman.

Former CTO Pleads Guilty to Conspiracy Charges

In addition to Ellison's testimony, Gary Wang, the former chief technology officer of FTX, pleaded guilty to four charges, including conspiracy. These developments further add to the mounting legal woes faced by FTX and raise concerns surrounding the company's governance and internal operations.

【速報】US Senators Urgently Call for Implementation of Crypto Reporting Requirements

Senators Criticize Delay in Crypto Tax Reporting Rules

A group of seven United States senators, including Elizabeth Warren and Bernie Sanders, have expressed their dissatisfaction with the two-year delay in implementing crypto tax reporting requirements. These rules, which are scheduled to take effect in 2026 for transactions in 2025, are being criticized for potentially leading to a loss of $50 billion in annual tax revenue and enabling tax evasion.

Urgent Action Required to Prevent Revenue Loss

The senators have called on the Treasury Department and the Internal Revenue Service (IRS) to swiftly advance a rule imposing tax reporting requirements on crypto brokers. They warn that without the timely implementation of these regulations, bad actors will continue to evade taxes, posing a significant financial risk to the government.

【特集】ESMA Report: DeFi Poses No Significant Risks to European Financial Stability

ESMA Acknowledges DeFi Benefits and Risks

The European Securities and Markets Authority (ESMA) released a report assessing the risks posed by decentralized finance (DeFi) to the European financial market. While recognizing the potential benefits of DeFi, such as financial inclusion and innovation, the regulator concludes that currently, DeFi and the overall crypto industry do not represent "meaningful risks" to financial stability due to their relatively small size and limited connections to traditional financial markets.

Continued Monitoring of DeFi's Rapid Growth

Although DeFi is currently deemed not to pose a significant risk, ESMA highlights the need for continuous monitoring, given the rapid growth of the sector. The regulator emphasizes the importance of staying vigilant and adapting regulatory frameworks to address any future challenges that may arise.

【特集】Malaysia Approves Hata as Fifth Digital Asset Exchange

Hata Receives Regulatory Approval in Malaysia

The Malaysia-based digital asset exchange Hata has obtained in-principle approval from the Securities Commission Malaysia to register as a Recognized Market Operator. This approval allows Hata to become the fifth regulated digital asset exchange in Malaysia, as well as the first entity to receive approval as a digital broker, enabling the display of trade orders from other regulated exchanges.

Launch Date Estimated Within the Next Nine Months

With the in-principle approval, Hata is likely to launch its services within the next six to nine months. This development will contribute to the growing digital asset ecosystem in Malaysia, providing investors with more options and bolstering the country's position in the cryptocurrency industry.

【朗報】FTX Court Saga: Shocking Testimonies Revealed in Alameda Fraud Case
Copyright © 2023 Coin News DAO. All rights reserved.

Site Map