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Sam Bankman-Fried’s Parent Sued Amid Plans to Recover Misappropriated Funds
The now-defunct FTX exchange has taken legal action against Sam Bankman-Fried's parents to recover millions of dollars fraudulently transferred and misappropriated by the couple. Investigation Reveals FTX Is a Family-Powered Fraud Scheme On September 18, FTX's new legal team filed... -
Nikola Stock Rose After Announcing New COO: Key Takeaways
Nikola (NYSE: NKLA) – the startup electric vehicle (EV) company that went public in 2020 has had quite a volatile run as a listed company. It rose over 33% yesterday after the company hired Mary Chan a former General Motors... -
South Korea to Adopt OTC Crypto Regulations Amid $4B Unlawful Deal Concerns
South Korean regulators have redirected their attention towards over-the-counter (OTC) cryptocurrency trades due to increasing concerns about their potential use in criminal activities. Authority Bemoans Use of OTC for Money Laundering Endeavours South Korea’s financial regulatory officers, including Deputy Chief... -
U.S. Lawmakers Rally to Protect Financial Privacy and Innovation, Reintroduce CBDC Anti-Surveillance State Act
Fifty U.S. lawmakers are pushing for a new law called the CBDC Anti-Surveillance State Act. This law aims to prevent the Federal Reserve from creating a digital currency that people would use for everyday transactions. They want to protect innovation... -
Peloton Stock Falls to All-Time Lows as Broader Markets Weaken
Peloton stock (NYSE: PTON) fell to an all-time low in US price action today amid the broader market sell-off. The stock has been sliding after peaking in January 2021 and while other growth stocks have also fallen amid high inflation... -
Republicans Take Steps to Advance Bills Prohibiting CBDCs
House Republicans are pushing for the prohibition of U.S. CBDCs even before the Federal Reserve formally proposes them. However, a senior Democrat is introducing a bill with an opposing stance. Republicans Push Back Against CBDCs On Thursday, the Subcommittee on... -
Retool Identified as Third-party Vendor in Fortress’ $15 Million Crypto Theft
San Francisco-based software company Retool has been identified as the third-party platform through which $15 million in Fortress Trust funds were stolen. Theft Fast-Tracks Fortress' Acquisition In a September 7 tweet, API-focused e-payment platform for Web3 companies Fortress announced that... -
Coinbase CEO Urges DeFi Projects to Defend Themselves in Court Against Regulators
Coinbase's CEO has urged decentralized finance (DeFi) projects to stand up to regulators in court if they encounter legal challenges. He firmly believes that the Commodity Futures Trading Commission (CFTC) should refrain from pursuing enforcement actions against DeFi protocols, as... -
FTX Modifies Crypto Sale Plan to Appease US Government
The bankrupt FTX exchange has revised its strategy for liquidating its substantial crypto holdings. The exchange's new approach involves prioritizing the sale of its multi-billion-dollar crypto assets before distributing funds to its creditors, all while avoiding advance notice to the... -
Ford Looks to Double Hybrid Mix as It Revamps Its EV Strategy
Automakers like Ford (NYSE: F) and General Motors (NYSE: GM) are investing billions of dollars to ramp up their electric vehicle (EV) production capacity. Ford is meanwhile also betting on hybrids even as it is slowing down its ambitious EV...
