Day: January 20, 2023

SBF to forfeit $700M worth of assets if found guilty of fraud

Brian Quarmby

According to new court filings, disgraced FTX founder Sam Bankman-Fried (SBF) will be subject to the forfeiture of roughly $700 million worth of assets if he were to be found guilty of fraud. In a court document filed on Jan 20, U.S. federal prosecutor Damian Williams outlined that the “government respectfully gives notice that the property subject to forfeiture” covers a long list of assets across fiat, shares and crypto. The filings state that most of the assets were seized by the government between Jan.4 and Jan. 19, while it…

Genesis’ Crypto Trading Arm Is Moving Money Around, a Sign of Normalcy Amid Sibling’s Bankruptcy

Anthony B

A wallet controlled by the Genesis OTC trading desk sent about $125 million of ETH, FTM and USDT to Coinbase, Binance, Bitstamp and Kraken on Thursday, the day of the bankruptcy filing, according to blockchain data compiled by Etherscan. In the past several hours, the wallet has transacted several more times, receiving almost $50 million USDC. Author: Sage D. Young Source link

U.S. Lays Claim to $700 Million of Assets Linked to Bankman-Fried, FTX

Danny Nelson

Included in the property are over 55 million Robinhood shares worth about $525 million. Bought with borrowed Alameda money, those shares were at the center of a fight between Bankman-Fried, FTX Group and BlockFi. Officials are also moving to claim $171 million in cash from a series of bank accounts linked to Bankman-Fried’s web of companies. Author: Danny Nelson Source link

Wrapped Bitcoin Project Sees 18% Redemption of Circulating Supply in 54 Days – Altcoins Bitcoin News

Jamie Redman

Statistics show over the course of 54 days, the number of wrapped bitcoin (WBTC) hosted on the Ethereum network has decreased by 40,156. This equates to a more than 18% redemption of the circulating supply of WBTC since Nov. 27, 2022. WBTC Remains Largest Operation in Terms of Bitcoin Custody Despite Recent Redemptions The Bitgo-backed Wrapped Bitcoin (WBTC) project has been officially in operation since the end of January 2019 and has grown significantly since its launch. At the time of writing, it is the largest operation in terms of…

10 ways blockchain developers can use ChatGPT

Alice Ivey

Blockchain technology has revolutionized the way we think about data storage and transactions, but it can also be a complex field for developers to navigate. One tool that can help simplify the process is ChatGPT, a large language model created by OpenAI. A language model is a type of artificial intelligence model that is trained on a large corpus of text to generate or predict text. It can be used to generate new text, such as in machine translation, or to predict the likelihood of a sequence of words. It…