Altcoin News Official Today TheBitTimes.com

Sam Bankman-Fried’s globe-spanning empire of rapidly moving money and crypto has been under the microscope of prosecutors, and among the evidence considered was the testimony of former Alameda Research ‘chief executive officer’ Caroline Ellison. During her testimony, Ellison detailed an attempt to un-freeze funds at Huobi (now HTX) and OKEx (now OKX) via accounts opened using identity documents from “Thai prostitutes .” This scheme was ultimately unsuccessful. However, Bankman-Fried’s financial empire had other links to Thailand, through the Hong Kong-headquartered over-the-counter (OTC) trading desk Genesis Block. HiveEx, Genesis Block, and SBF’s trading desk network Genesis Block is principally remembered in the Bankman-Fried empire as the Crypto shop where purchasers queued around the street with bags full of cash they wanted to convert to Crypto . The desk has been described as being “integrated” into FTX or Alameda Rese...

Bitcoin Cash (BCH) advocate and so-called “Bitcoin Jesus,” Roger Ver, has broken his silence on his newly received summons from GGC International. The investor said that while he has “sufficient funds” to pay his stated debts, the details of his contract with Genesis make things more complicated.  Will Roger Ver Pay Up? In response to a Reddit post on the matter, Ver answered that he had the funds to pay all sums “allegedly owed,” and was willing to pay “what I actually owe.” However, the newly revealed financial condition of the crypto broker means he may owe nothing at all. “Genesis was required by our agreement to remain solvent — as Genesis can’t ask its clients to play a “heads clients lose, tails Genesis wins” game,” wrote Ver. “It appears that at points since at least last June Genesis dipped under the solvency line.” Roger Ver. Source: Bloomberg Genesis officially filed for bankruptcy last week – an outcome expected by many after the firm froze withdrawals in Novem...