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In another disturbing push for censorship from a major cryptocurrency player, Binance has defeated Bloomberg Businessweek’s China arm in a defamation lawsuit after the media outlet titled an issue from 2022, ‘Changpeng Zhao’s Ponzi Scheme.’ The outlet was quick to change the title to ‘The Mysterious Changpeng Zhao,’ but apparently this near-instant alteration did not matter to Binance or Chinese courts. The article in question described how Binance marketing works, expressed that CZ and his companions had urged retail to buy memecoins, that Binance contributed to investors getting burned by Terra/Luna, told of a secret Shanghai office , and, lastly, discussed how Binance almost entirely lacked proper compliance teams. Many of these statements have since been or were previously confirmed by numerous media outlets across the globe. Unfortunately, the win in Chinese court, which resulted in Binance having Bloomberg donate money to children with special needs, has been met with the gen...

Bankrupt crypto exchange FTX has been given the go-ahead to sell its portfolio of pricey Bahamas real estate, including former chief Sam Bankman-Fried’s $40 million penthouse that once housed him and his inner circle. On Tuesday, a Delaware judge approved the sale of $222 million worth of upscale properties in the Bahamas bought by senior staff during FTX ’s heyday — partly with customer funds. Among them is Bankman-Fried’s infamous Orchid Penthouse, which served as FTX and Alameda Research’s headquarters. Bankman-Fried also notoriously gifted a $16 million apartment in the Bahamas to his parents as an attempt to appease his father, who was unhappy with a $200,000 salary at FTX. That property is now also cleared for sale. Photos of the Orchid Penthouse, via the Department of Justice. Read more: FTX -funded charity Effective Ventures agrees to return donations According to court filings, the proposals to sell the real estate are reasonable and ...

At the turn of every year, crypto celebrities announce outrageous predictions for the upcoming twelve months. Bullish bitcoin prices are always the most common forecasts — but in 2023, influencers expanded into a variety of predictions ranging from the ‘flippening’ to Gary Gensler’s dismissal from the Securities and Exchange Commission (SEC). An embarrassing number of these attempts at precognition never came true. Yet, the influencers who made them never held themselves accountable. Below, we take a look at some of 2023’s crypto prediction s that entirely missed the mark. Failed prediction #1: Bitcoin didn’t hit $175,000 Bitcoin’s impressive price rise over the past few months indicates that investors are confident things will improve. BTC has soared from $27,000 to $43,000 in the past three months — a 60% pump. On January 2 and 3, 2024, the price of bitcoin surpassed $45,000 for the first time in two years. However, during the entirety of 2023, bit...

Troubled crypto exchange Binance has sold its business in Russia to a brand-new crypto exchange named CommEX — but crypto sleuths were quick to point out that the exchange may still be run by Binance. This isn’t the first time Binance was forced out of a country by regulators, only to hand business off to a firm that appears to be in its pocket. Dutch users were told they could no longer use Binance in August, only to be heavily incentivized to use little-known, brand- new exchange Coinmerce instead. As Protos reported, Coinmerce has historically acted as a broker for Binance. Similarly, Binance has exited Russia following a report by Bloomberg that the exchange was under investigation by the US Department of Justice for violating sanctions. At the end of August, the Wall Street Journal (WSJ) also claimed the Crypto exchange was violating US sanctions for enabling “substantial” ruble trade volumes through sanctioned Russian banks. Hot on the heels of the...

Former FTX boss Sam Bankman-Fried will not be facing a charge of illegal campaign financing due to an extradition treaty between the US and the Bahamas.  A court filing was published on July 26 by US Attorney for the Southern District of New York (SDNY) Damian Williams. US government has no plans to proceed with charge s accusing Sam Bankman-Fried of conspiracy to make unlawful campaign donations. It was the eighth count in the original indictment unsealed in December 2022.  “Accordingly, in keeping with its Treaty Obligations to The Bahamas, the Government does not intend to proceed to trial on the campaign contributions count.” Excerpt from court filing The decision came after the US sought clarification from The Bahamas authorities regarding whether the charge was included in Bankman-Fried’s extradition.  In response, The Bahamas government informed the US that “it did not intend to extradite the defendant on the campaign contributions count....

Also Read: Big Day For Crypto As US House Votes On Multiple Digital Asset Bills advertisement SBF Broke Bail Conditions? As per reports, prosecutors raised a concern of witness tampering as SBF handed over personal writings by Caroline Ellison to a New York Times reporter. Caroline the former chief executive of crypto hedge fund, Alameda Research has pleaded guilty. However, she is expected to testify against SBF in the fraud case. The prosecutors suggested that Sam Bankman-Fried ’s motive for sharing crucial documents is an attempt to tamper with the witness. This is being done to cast Caroline in a bad light and send a message through press media that she committed these crimes alone, District Judge Lewis Kaplan was directed by the U.S. Attorney’s office in Manhattan to restrict SBF from giving out public statements linked to the case. As per some proposed conditions, SBF was required to operate a phone with no internet connection and basic...