Crypto Highlights of the Week:
The Trial of Sam Bankman-Fried:
The legal scene is buzzing with the trial of Sam Bankman-Fried. Former FTX engineering director Nishad Singh was thrust into the spotlight during intense interrogation. Singh, with his memory occasionally failing, revealed that he overheard conversations between FTX executives about problematic software related to Alameda Research's responsibilities. This raises questions: What really happened behind the scenes at FTX?
Ripple and the Market Buzz:
A vacancy opened by Ripple for shareholder communications manager has cryptocurrency enthusiasts in an uproar. The job description strongly suggests that Ripple may be considering becoming a public company. This could be a game changer for the company and the cryptocurrency industry as a whole.
- FTX: Light at the End of the Tunnel: FTX customers have reason to celebrate. After a turbulent period, a proposed deal suggests they could see more than 90% of their assets returning. We are talking about an amount approaching 9 billion dollars. This is a significant step in resolving one of the biggest meltdowns in the crypto space.
Binance Takes a Step Back in the UK:
It's not all sunshine and rainbows for Binance. The cryptocurrency giant has decided to suspend new registrations in the UK after the FCA imposed restrictions on its local partner, Rebuildingsociety.com Ltd. Binance is working to adapt to regulations and we hope to see it resume operations soon.
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