The US department of justice has accused two men in Estonia of organizing a sophisticated crypto ponzi scheme in which they had set up a fake virtual bank (called Polybius) with it’s own website and all. Two 37-year-old men, called Sergei Potapenko and Ivan Turogin, have been arrested by Estonian police and the US authorities […]
Although many thought that Bitcoin would fall further due to the FTX scandal, the largest digital currency still held up reasonably well and the volatility of Satoshi Nakamoto’s invention has remained stable in recent weeks. It is therefore clear that Bitcoin has found a support level around $15,000 to $16,000. The question therefore remains what […]
Crashes always have unpredictable winners who afterwards knew better than the others. In 2008 there was Michael Burry who had been betting against the US housing market for 2 years. In 1992, George Soros knew that actions by the Bank of England would lead to a crash in the pound and he placed his bet with this […]
Elon Musk has not been out of the news as of late. Ever since he took over Twitter, he’s been making headlines. The only business news that has been able to eclipse his many layoff rounds (and locking staff out of their offices) at Twitter was the FTX collapse and the ripple effect it’s been having […]
After FTX’s collapse last week, a great number of major cryptocurrency exchanges have made promises to customers that they would all publish proof of their reserves in the spirit of transparency and trust. Problem for the Crypto.com exchange is that they had to admit having mishandled a roughly $400 million Ethereum transaction (as we reported this […]
Unless you’ve been asleep over the past two weeks, you may have heard of the collapse of crypto platform FTX (and it’s coin FTT), which took not only Sam Bankman-Fried and his friends with them in his fall, but also a bunch of celebrities. American football legend Tom Brady and his former supermodel wife Gisele Bündchen are […]
In retrospect, there’s always a famous person who calls the so-called bottom bell, and for Bitcoin that has just happened yesterday. Interestingly enough, it was done by someone who called the Bitcoin bottom correctly before, so let’s see if he’s right this time again. At the time of writing, Bitcoin trades at $16,900. Financial Crash The […]
The fall of crypto platform FTX is coming with a lot of baggage for a lot of people and places. As the time of writing, here’s the latest. Sam Bankman-Fried, the 30-year-old son of an upper-middle-class Jewish family in California, is currently ‘under supervision’ in the Bahamas. He is said to be accompanied by his […]
With all the doom and gloom surrounding multiple crypto bankruptcies (we now have Luna and FTT going under) this year, with Bitcoin breaking under 20,000 level, we may forget that there’s still a coin out there which is having a pretty good year. Ethereum has shifted from proof-of-work to proof-of-stake whilst the world is faced […]
Jack Brolin, better known by his identity Captain Hindsight, is a character in the animated series South Park who usually shows up after a disaster to inform everyone what should have been done. In the past few days as questions surrounding the fall of Sam Bankman-Fried swirled all around, there have been many in the […]
