Corporate structure, Bitcoin liabilities and internal control quality are among the points of concern. Binance’s efforts to improve transparency of its reserves also exposed red flags in the crypto exchange’s finances, according to accounting and financial specialists consulted by The Wall Street Journal.  As noted by a former Financial Accounting Standards Board (FASB) member and...Continue Reading

Ex-Alameda Research head will be represented by Stephanie Avakian and a team of attorneys from WilmerHale. A former top crypto regulator in the United States Securities and Exchange Commission (SEC) will represent Caroline Ellison, ex-Alameda Research CEO, in an ongoing federal probe, according to a report from Bloomberg on Dec. 10.  Caroline will be represented...Continue Reading

The main vulnerability behind the attack was within GLP oracle and how it conducts its price. Arbitrum-based lending protocol Lodestar Finance was exploited in a flash loan attack on Dec. 10. According to Lodestar, the attacker manipulated the price of the plvGLP token before borrowing all platform liquidity using the inflated token. In a Twitter...Continue Reading

Bitcoin was not an option for “control” of the market by Bankman-Fried, Wood says, as Michael Saylor says he “undermined” the BTC network. Bitcoin (BTC) is too “decentralized and transparent” for former FTX CEO Sam Bankman-Fried, says Cathie Wood. In a tweet on Dec. 10, Wood, who is CEO of investment giant ARK Invest, delivered...Continue Reading

On Dec. 11, Binance issued a notice about abnormal price movements for some trading pairs. As a result, the exchange began an investigation to narrow down suspicious accounts responsible for the issue. Crypto exchange Binance began investigating suspicious behavior on its platform after noticing abnormal price movements for certain trading pairs involving Sun Token (SUN),...Continue Reading

To help the investors legally recoup losses, Schall Law Firm plans to investigate FTX for issuing misleading statements or failing to disclose crucial information. To help out the recently duped investors of FTX Tokens (FTT), shareholder rights litigation firm — Schall Law Firm — has taken up the task of investigating the investors’ claims against...Continue Reading

Joseph Bankman and Barbara Fried have started facing professional consequences for their child Sam Bankman-Fried’s illegal actions. The domino effect of FTX CEO Sam Bankman-Fried’s actions came full circle as his reputation began impacting the professional lives of his parents — Stanford Law professors Joseph Bankman and Barbara Fried.  SBF’s father, Bankman, had to cancel...Continue Reading

If the Supreme Court decides to strike down Section 230, it’s going to become considerably more difficult for centralized social media companies to operate. The internet — arguably the greatest invention in human history — has gone awry. We can all feel it. It is harder than ever to tell if we are engaging with...Continue Reading