OKEx Confirms $9M Clawback After ‘Enormous’ Bitcoin Futures Position Fails

“I was blindsided and horrified.”That’s how Nishad Singh recalled feeling after a fateful September 2022 meeting with FTX founder Sam Bankman-Fried where his boss laid bare the full scope of the exchange’s financial problems. Singh was the head of engineering at FTX before it imploded in November 2022 and lost billions of dollars worth of

news More names are being linked to Facebook’s secretive cryptocurrency project. Following a report Wednesday by The Information claiming the social media giant’s “GlobalCoin” could debut as early as this month, CNBC reported on 10 Facebook executives linked to the effort. Additionally, as first reported by CoinDesk in May, The Information says MIT’s Christian Catalini is…

Sep 30, 2020 at 17:42 UTC(Krisztian Matyas/Unsplash, editted using Photomosh)Amy Webb, a quantitative futurist and founder of the strategic foresight firm Future Today Institute, thinks the world can, indeed, get worse.In her most recent book “2020 Tech Trend Report: Strategic Trends that Will Influence Business, Government, Education, Media and Society in the Coming Year,” Webb…

Jul 29, 2020 at 11:45 UTCUpdated Jul 29, 2020 at 11:46 UTCFirst Mover: Crypto Traders ‘Greedy’ as Goldman Warns on DollarDuring a turbulent year when cryptocurrencies have outperformed just about every other major investment category, traders in digital-asset markets are getting even greedier.  Bitcoin, the oldest and largest cryptocurrency, sits at an 11-month high of…

The price of litecoin (LTC) hit a 12-month low below $50.00 on Wednesday. The world's seventh largest cryptocurrency by market capitalization sank to $47.67 at 10:34 UTC – its lowest price since September 22, 2017. LTC was last seen at $49.08, down more than 8 percent on the day, according to CoinMarketCap. Notably, LTC is…

news The head of South Korea’s Financial Services Commission (FSC) abruptly resigned last week, according to a July 18 report from The Korea Times. Former Chairman Choi Jong-ku reportedly left his office one day in advance of his second anniversary, amid a period of governmental reorganization. He told reporters he resigned “before the expected reshuffle”…

Nov 13, 2020 at 2:34 p.m. UTCBenoit Coeuré, head of the BIS Innovation Hub(Andrej Klizan/Flickr)From PayPal to Libra: Big Tech Has Forced Central Banks to Wake Up to CBDCs, Says Benoit CoeureLibra was the final wake-up call for central banks that prompted serious consideration of digital currency issuances, according to Benoit Coeure, head of the…

news The notorious cryptocurrency investment scheme OneCoin, widely claimed to be a fraud, is being sued by a former investor over her losses. The lawsuit, filed in New York Tuesday by law firm Silver Miller on behalf of the investor, Christine Grablis, alleges that OneCoin fraudulently promoted cryptocurrency investments and violated federal securities laws. Grablis complains…

Self-Sovereign Identity Will Reshape the Internet (if You Use It)Brace yourself for a concept that will feel jarring, an idea that will clash with everything you know about 2020, and a philosophy that will feel downright unthinkable: Optimism.Many internet 2030 scenarios are bleak. (See other entries in our “Internet 2030” series). Here we imagine a brighter…