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A British court reckons bitcoin's creator isn't an Australian called Craig - Startup Daily
Ever since the Titanic was found, the world has held few mysteries. The whereabouts of the 239 souls tragically lost aboard MH370 is one. That MAFS is now in a 10th season and rating well is a personal one. Another, since 2008, is who is Satoshi Nakamoto, the author of a white paper on the... Read more »
Binance CEO departs after guilty plea over money laundering as US authorities belt the crypto exchange with a $6.6bn fine - Startup Daily
Binance CEO Changpeng “CZ” Zhao has resigned from the cryptocurrency exchange he founder as past part of a guilty plea deal with US authorities over money laundering and US sanctions violations, that involved funded terrorist groups such as Hamas. Zhao was hit with a US$50 million fine while his company will pay US$4.3 billion (A$6.6bn)... Read more »
Sam Bankman-Fried's fraud trial hears how a simple tweak to the data allowed him to syphon off $12 billion from investors - Startup Daily
FTX cofounder Gary Wang testified during the trial that SBF moved money into Alameda Research as a putative customer of the exchange, without the same regulatory scrutiny
ASIC has launched legal action against the Kraken crypto exchange alleging more than 1,100 customers lost $13 million on a product that didn't meet regulatory rules - Startup Daily
ASIC Deputy Chair Sarah Court said the legal action is part of the regulator's ongoing focus on crypto industry compliance.
With crypto scams on the rise, here's what you need to do to protect yourself - Startup Daily
Each year, as the festive season arrives, we must also keep an eye out for potential scammers trying to ruin the fun. This is because scammers become more active during the holidays, targeting us while we have our guard down. So far in 2022, Australians have lost around half a billion dollars to scams, which... Read more »
Why you shouldn't be surprised that FTX collapsed - Startup Daily
Not long ago, FTX was one of the world’s largest trading platforms for cryptocurrencies. Founded in 2019, the Bahamas-based crypto exchange had a meteoric rise to prominence, and was valued at more than US$30 billion earlier this year. All that has changed in the past two weeks. First, concerns emerged about links between FTX and... Read more »
FTX Australia is in administration - Startup Daily
The Australian arms of crumbling cryptocurrency empire FTX have been placed in voluntary administration. Scott Langdon, John Mouawad and Rahul Goyal of KordaMentha Restructuring took over as administrators of the Sydney-based cryptocurrency businesses FTX Australia Pty Ltd and subsidiary FTX Express Pty Ltd on Friday following a board meeting earlier today that decided to place... Read more »
El Salvador’s experiment with Bitcoin as legal tender has been a spectacular failure - Startup Daily
A year ago, El Salvador became the first country to make Bitcoin legal tender – alongside the US dollar, which the Central American country adopted in 2001 to replace its own currency, the colón. President Nayib Bukele, a cryptocurrency enthusiast, promoted the initiative as one that would deliver multiple economic benefits. Making Bitcoin legal tender,... Read more »