In a bold move aimed at restoring its integrity and erasing the shadow of uncertainty cast by the collapse of crypto hedge fund Three Arrows Capital (3AC), cryptocurrency trading platform WOO Network has announced its intention to repurchase shares from the beleaguered hedge fund. The move comes in the wake of 3AC’s bankruptcy, which had raised questions about the future of WOO Network. A Deal to Clear the Fog WOO Network has reached an agreement with 3AC’s liquidator, Teneo, to buy back the shares and tokens at a discount, effectively severing the remaining ties between the two entities. 3AC had…
Author: Rea K.
CoinMarketCap, a prominent crypto data aggregator, has unveiled a game-changing tool that promises to transform how investors navigate the world of cryptocurrencies. This cutting-edge solution is none other than the “AI Crypto Analyst Tool,” powered by state-of-the-art artificial intelligence (AI). Real-Time Insights at Your Fingertips This revolutionary tool leverages the capabilities of ChatGPT, an advanced AI model, which recently gained the power to explore the internet. By tapping into CoinMarketCap’s real-time crypto data, the AI Crypto Analyst can provide immediate responses to a diverse range of queries, from general inquiries to aiding in investment decisions. The AI Crypto Analyst Tool…
Caroline Ellison, the former CEO of Alameda Research, has shed light on a previously undisclosed agenda orchestrated by Sam Bankman-Fried, the founder of FTX, one of the leading cryptocurrency exchanges. Ellison’s testimony revolved around Bankman-Fried’s keen intention to advocate for a regulatory crackdown on Binance, a major player in the crypto market. The Path to Market Domination According to Ellison, Bankman-Fried saw this regulatory push as a strategic move to amass a greater market share against rival cryptocurrency exchanges. In her testimony, Ellison quoted Bankman-Fried as saying, “Sam said that he thought that was one of the best potential ways…
Amidst the turmoil of geopolitical unrest, veteran hedge fund manager and billionaire investor Paul Tudor Jones has raised the banner for Bitcoin as a robust choice for investors. In the face of escalating tensions between Israel and Gaza, coupled with global geopolitical complexities involving superpowers like Russia, China, and the United States, the narrative of Bitcoin as a safe haven asset has grown louder. Paul Tudor Jones Endorses Bitcoin Paul Tudor Jones, renowned for his investment acumen, recently shared his endorsement of Bitcoin in a pivotal interview. He shed light on the current geopolitical landscape, expressing concerns about the delicate…
In the complex world of cryptocurrencies, one name that recently took center stage was Alameda Research. This blockchain-focused company made headlines for its significant involvement in the Tether (USDT) saga. Recent revelations suggest that Alameda played a pivotal role in minting a substantial portion of Tether, the world’s largest stablecoin, before its bankruptcy in 2022. Alameda’s Staggering USDT Holdings Coinbase’s Head of Product and Business Operations, Conor Grogan, estimated that Alameda Research was responsible for minting a jaw-dropping $39.5 billion worth of USDT. This revelation sent shockwaves through the cryptocurrency community, as it accounted for a significant portion of the…
A congressional committee in Brazil has leveled serious allegations against cryptocurrency exchange giant Binance and its CEO, Changpeng “CZ” Zhao. The committee has accused Binance of being a platform for a fraudulent pyramid scheme and has raised concerns about CZ’s intentions behind establishing multiple companies in the region. The Pyramid Scheme Allegations The committee’s report claims that Binance was one of the companies used in a fraudulent financial pyramid scheme attributed to former waiter Glaidson Acácio dos Santos. According to the committee, Binance facilitated transactions worth approximately $791.7 million USD in Brazil without the knowledge or oversight of local regulators.…
Caroline Ellison, the former co-CEO of Alameda Research, recently took the stand in a Manhattan courtroom to testify against Sam Bankman-Fried, the former CEO of FTX, a leading cryptocurrency trading platform. Ellison’s testimony implicated Bankman-Fried in a series of financial crimes that have sent shockwaves throughout the industry. Allegations and Accusations Ellison’s explosive testimony alleged that she was instructed by Sam Bankman-Fried to divert funds from FTX customers to settle debts of Alameda Research, amounting to a staggering $14 billion. She claimed that Bankman-Fried had established a system that allowed for such financial misconduct, stating, “Sam directed me to commit…
Yuga Labs, the powerhouse behind the popular Bored Ape Yacht Club, has announced a significant restructuring plan. The decision comes in response to the recent record-breaking downturn in the NFT market, which has seen trading activity plummet to its lowest point since the first quarter of the previous year. A Necessary Restructuring On October 6th, Yuga Labs’ CEO, Daniel Alegre, sent out an email outlining the company’s restructuring plan. He cited the primary reason for this move as the need to refocus on core initiatives. Alegre acknowledged that the company had overextended itself by taking on numerous projects, many of…
The courtroom drama surrounding the trial of Sam Bankman-Fried, the prominent figure behind the now-bankrupt cryptocurrency exchange FTX, has taken a sensational turn. Gary Wang, FTX’s co-founder and former Chief Technology Officer, has recently unveiled shocking revelations about the special privileges granted to FTX’s sister company, Alameda Research. This bombshell testimony has sent shockwaves through the crypto community. The Special Privileges In a startling revelation during the trial, Wang disclosed the extraordinary privileges that Alameda Research enjoyed on the defunct FTX exchange. According to his testimony, Alameda had exclusive access to a unique code that allowed it to trade faster…
The FTX attacker, who had previously been funneling their stolen Ethereum holdings through THORChain-based THORSwap, has altered their strategy. This adjustment comes in response to THORSwap’s decision to transition into maintenance mode, citing concerns about facilitating the movement of illicit funds. On October 6, on-chain analyst Lookonchain revealed that the FTX exploiter had ceased using THORChain for transferring the stolen assets. Instead, they had turned to the Threshold network, marking a significant shift in their modus operandi. Lookonchain’s report showcased a screenshot indicating that the attacker had converted over 3,000 ETH into tBTC through the Threshold Network Chain. tBTC: Bridging…