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Former FTX chief Sam Bankman-Fried is seen hanging out with former gang members while looking “scruffier than a m*********er,” in the first photo to emerge of the disgraced ex-billionaire since he was im prison ed for wire fraud, conspiracy, and money laundering. The photo taken on December 17 is said to be the first — and only — picture of Bankman-Fried since he was imprisoned in the Brooklyn Metropolitan Detention Center. He is currently waiting to be sentenced on March 28.  In the photo obtained by journalist Tiffany Fong, a sheepish Bankman-Fried is seen standing in a line with other inmates. He sports a messy hairstyle and an unkept beard and is dressed in beige-toned clothing. First photo of Sam Bankman-Fried in jail at MDC Brooklyn. (December 17, 2023) pic.twitter.com/QlENjjmeQG — Tiffany Fong (@TiffanyFong_) February 20, 2024 G Lock claimed inmate photos are only taken every Christmas and Father’s Day. G Lock, the former Bloods gan...

The head of South Korea’s Financial Supervisory Service (FSS) will meet with US Securities and Exchange Commission (SEC) chief Gary Gensler this year to discuss Crypto currency and bitcoin spot ETFs. According to a business plan presented by FSS director Lee Bok-hyun on Monday, trips to major finance markets in the second quarter of 2024 will provide insights into how South Korea can continue to regulate digital assets. Director Lee told local reporters that the SEC’s recent approval of spot bitcoin ETFs have impacted world policy, and is therefore top of mind for the FSS. South Korea has grappled with Crypto currency-related corruption in recent years. Its government has introduced new laws that seek to bring heightened transparency to officials’ Crypto holdings, and is even toying with a plan that would seize North Korea’s Crypto currency amid heightened cyberattacks. Buying crypto with credit cards may be scrapped in South Korea Read more: South Kor...

FTX Trading Ltd. Introduced a new proposal to return billions of dollars to customers and creditors. FTX has filed an amended plan of reorganization that will value assets at the rate at the time of the bankruptcy filing—November 11, 2022. At that time, Bitcoin (BTC) was trading at around $17,000; the current price is above $41,100. Source: CoinMarketCap In addition, at the beginning of November 2022, the FTT token was valued at approximately $26. It is now trading at $3.70. FTX is currently discussing how best to end the bankruptcy case of the fraud-tainted cryptocurrency firm. The payout plan calls for billions of dollars in cash to be distributed once most of the company’s cryptocurrencies are liquidated. The plan says that certain classes of creditors can vote on the changes. The authors believe their proposed approach “reflects many trade-offs to create the best, fairest, and most cost-effective outcome.” You might also like: FTX’s bankruptcy es...

Hayes may face short-term losses on his Solana buy-in, but the long-term upside looks promising as the cryptocurrency market recovers. Arthur Hayes, the former CEO of crypto derivatives exchange BitMEX, has “admitted” to buying Solana’s SOL (SOL) at its possible local top, stressing his bullish outlook for the cryptocurrency. Fam I have something embarrassing I must admit. I just bot $SOL, I know its a Sam-coin piece of dogshit L1 that at this point is just a meme. But it is going up, and I'm a degen. Let's Fucking Go! — Arthur Hayes (@CryptoHayes) November 2, 2023 SOL’s price has rallied 500% in 11 months Hayes’ self-admitted SOL purchase occurred after it had already rebounded 500% from its market bottom near $8 in December 2022. In addition, the purchase came days after VanEck, an asset management firm supervising $76.4 billion worth of assets, predicted a 10,600% SOL price rally by 2030, citing Solana’s ability to capture the market share of its top layer-1 blockcha...

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...

Strange happenings are occurring over on the TUSD stablecoin network, which has seen its market cap balloon from $750 million at the end of 2022 to over $3 billion at press time. The asset, which has a confusing ownership structure that, ultimately, seems to lead back to Tron founder Justin Sun, claimed to have stopped using defunct firm Prime Trust for deposits and withdrawals but has proceeded to pause all mints and redemptions. Simultaneously, Binance is offering no-fee trading on all TUSD pairs while a billion dollars of TUSD was minted last week in one fell swoop. A timeline of TUSD concerns 2 weeks ago On June 9, TUSD announced it would no longer mint via Prime Trust but added, “TUSD minting and redemption services remain unaffected and will continue to operate as usual.” The stablecoin assured users that its “partnerships with other banking institutions remain intact, allowing for seamless transactions.” 2 weeks ago TUSD said it was still attempting to resume min...

After getting released on bail, Sam Bankman-Fried , the former CEO of FTX has been under house arrest. His bail, however, wasn’t as easy, as it came with a plethora of conditions. The first few were limited to not talking to the current and former employees of FTX . The Southern District of New York U.S. District Court judge was persuaded by the federal prosecutors to further modify the conditions of his release. It was brought to light that SBF employed a virtual private network [VPN] to watch football. He reportedly did this twice in order to stream the National Football League playoff games. The prosecution was not pleased hence, they sought to ask the court to prohibit SBF from using phones and even the internet. He would only be permitted to utilize these benefits under specific circumstances. As per his previous terms, he was barred from employing encrypted or ephemeral messaging applications. The filing further read, “Within the span of a month, the...

SOL price jumped 20% after falling to its worst level since February 2021 with Solana's technicals suggesting that more upside is possible. Solana (SOL), the cryptocurrency once supported by Sam Bankman-Fried, pared some losses on Dec. 30, a day after falling to its lowest level since February 2021. Solana price down 97% from November 2021 peak  On the daily chart, SOL's price rebounded to around $10.25, up over 20% from its previous day's low of approximately $8.  SOL/USD weekly price chart. Source: TradingView Nevertheless, the intraday recovery did little to offset the overall bear trend — down 97% from its record peak of $267.50 in November 2021, and down over 20% in the past week.  But while the year has been brutal for markets, Solana now joins the ranks of the worst-performing tokens of 2022, namely FTX Token and LUNA, which are down around 98%.  FTT (red) vs. LUNA (green) vs. SOL (blue) performance since November 2021. Source: TradingView SOL price could recover 5...