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The Latest Breaking News from Crypto

Crypto is as useful as a ‘pet rock,’ according to JPMorgan's Jamie Dimon

The JPMorgan CEO has previously called cryptocurrencies dangerous, worthless and a “Ponzi scheme.”

Fortune

FTX held talks with Taylor Swift over $100mn sponsorship deal

Negotiations between singer-songwriter and Sam Bankman-Fried’s crypto group collapsed this spring

Financial Times

Thousands of illegal cryptocurrency mining units seized

Special investigators have seized about 3,500 illegal cryptocurrency-mining units operating from rented buildings in Bangkok and Nonthaburi and stealing vast amounts of electricity.

Bangkok Post

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Environmentalists and Ky. AG want to pump the brakes on a massive crypto mining facility. Why?

WEKU

GameStop just became the latest tech company to lay off workers—and it’s cut down on its crypto team

“Super sad to say I was a part of the layoffs today at GameStop,” one software engineer wrote on LinkedIn.

Fortune

Cathie Wood Keeps Buying These 2 Crypto Securities – Should You?

Following the FTX debacle, the crypto universe was hard hit. However, popular investor Cathie Wood keeps buying stocks from the crypto space despite the rising interest rates and recession risks. As investors access the macroeconomic risks, their risk-off approach will keep the cryptocurrency market under pressure. Therefore, it could be…

StockNews.com

The crypto billionaire who helped expose SBF's insolvency calls him 'one of the greatest fraudsters in history' and accuses media and thought leaders of being manipulated

Binance CEO CZ is speaking out against SBF after FTX’s collapse and arguing he had nothing to do with his rival’s downfall.

Fortune

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A bankruptcy court is allowing the busted crypto lender Celsius to hand out $2.8 million in bonuses to keep employees from quitting

“We’re getting really down to the nub of what we need to continue to function,” the company’s lawyer said during the court hearing.

Fortune

One sector in the crypto industry has been spared

The crypto industry is in a dark place, but recent developments in the stablecoin sector are cause for optimism.

Fortune

Legendary Apple designer lends his touch to new Ledger Stax crypto wallet

Tony Fadell, the design genius behind the iPod and Nest, has built a new crypto hardware wallet.

Fortune

Bitwave raises $15 million Series A to expand its crypto accounting software

Hack VC and Blockchain Capital led the round.

Fortune

ConsenSys CEO Joe Lubin addresses MetaMask privacy concerns

The DeFi wallet has been at the center of a debate over decentralization.

Fortune

Overshadowed by failures, crypto hacking exacts higher price - Roll Call

The cryptocurrency business is losing more money to hackers, losses that have been overshadowed by the high-profile failures in the sector.

Roll Call

Stanford law professors are entangled in Sam Bankman-Fried’s FTX mess—and SBF’s father withdrew from an upcoming class

Bankman-Fried’s father—and his colleague—are reportedly consulting with the disgraced founder of the crypto exchange, who was raised on the prestigious university’s campus.

Fortune

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Chicago Tribune

Commentary: Sam Bankman-Fried is not an effective altruist

It’s an unfortunate thing that the fiery collapse of the crypto exchange FTX is giving many people their first look at one of the most promising charitable movements of the last decade. It’s called effective altruism, or EA, and in recent years, disgraced FTX founder Sam Bankman-Fried, known as SBF,…

Tribune News Service

Crypto pressure ratchets up as FTC probes several firms over ads

The US Federal Trade Commission is probing several crypto firms over allegations their advertisements were deceptive or misleading, the agency said Monday.

Fortune

Bronx Rep. Ritchie Torres introduces crypto legislation

At a Monday press conference, Torres compared SBF to Bernie Madoff and voiced concerns about Tether.

Los Angeles Times

Disgraced crypto executive Sam Bankman-Fried spent big in 2 California congressional races

LOS ANGELES — During her campaign for the U.S. House of Representatives this spring, then-state Sen. Sydney Kamlager was endorsed by a little-known nonprofit called Guarding Against Pandemics.

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Fortune

Coinbase CEO Brian Armstrong says SBF's messy accounting excuse for FTX collapse doesn't explain $8 billion loss: 'Even the most gullible person should not believe Sam's claim that this was an accounting error'

“I don't care how messy your accounting is (or how rich you are)—you're definitely going to notice if you find an extra $8B to spend."

Roll Call

Senate Banking Democrats plan bigger role in crypto legislation - Roll Call

Sen. Sherrod Brown says a bill supported by Sens. Stabenow and Boozman is too favorable to the crypto industry.

Evening Standard

How a deeper crypto crash in 2023 could spark a gold rush

Gold could be about to take off in 2023 should the collapse in crypto assets, including Bitcoin, continue

Axios

The IRS is coming for crypto — but it’s complicated

The agency wants to make sure those who dabble in digital assets pay their fair share of taxes

Fortune

Meet the power players trying to make FTX customers whole

Rishi Jain, a managing director at a private equity consulting company, has been placed in charge of what’s left of FTX Ventures.

Fortune

KuCoin CEO defends exchange amid high-yield product backlash

Are crypto platforms adequately educating users about risk?

The Guardian - AU

Cryptocurrency exchange Swyftx axes 90 jobs with CEO blaming aftershocks of FTX collapse

Company expects further significant drops in trade and ‘the potential for more black swan-type events’

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