Crypto News
FTT Briefly Spikes After Sam Bankman-Fried Tweets for First Time in 2 Years
The token associated with defunct crypto exchange FTX surged briefly Monday night after Sam Bankman-Fried, the founder and onetime CEO of the platform tweeted for the first time in two years.Bankman-Fried, who was convicted on seven different counts of fraud and conspiracy in November 2023, is serving out a 25-year prison sentence. He's currently detained in the Metropolitan Detention Center in Brooklyn as his lawyers work through an appeal of his conviction. Still, his account on X (formerly Twitter) posted a 10-tweet thread about layoffs, seemingly referencing Elon Musk's push to have federal employees email their work activities from the past week or risk resignations."I have a lot of sympathy for employees: I, too, have not checked my email...
Sam Bankman-Fried Breaks Silence on Twitter, Rants About US Government Layoffs
His Monday evening posts have sparked curiosity among crypto industry insiders who have closely followed him since FTX’s notorious collapse.Source link
Musk’s DOGE to Use AI in Federal Job Review: Report
AI could determine the fate of federal workers under Musk’s job evaluation plan, raising concerns of bias in the technology.Source link
OKX Pleads Guilty and Shells Out $500M After Violating Anti-Money Laundering Laws
“OKX was used to facilitate over five billion dollars’ worth of suspicious transactions and criminal proceeds,” said Acting U.S. Attorney Matthew Podolsky. OKX Settles for $500M Following Guilty Plea in Anti-Money Laundering Case Seychelles-based cryptocurrency exchange OKX pled guilty to one count of operating an unlicensed money-transmitting business and was slapped with a $504 millionSource link
Pump.Fun’s Rumored AMM Pivot a ‘Strategic Miscalculation,’ Says Raydium
Solana's dominant automated market maker (AMM) Raydium hit back Monday on rumors that major volume driver Pump.Fun was preparing to launch its own AMM.Abandoning Raydium whole hog would be a "strategic miscalculation" for the massively popular — and profitable — memecoin factory, core contributor InfraRAY said in a post on X. He cast doubt on the notion that Pump.Fun could replicate its success if it swaps Raydium out for in-house trading infrastructure.Token investors dumped RAY en-masse this weekend after hawkeyed observers noticed Pump.Fun was apparently testing its own AMM, presumably with the intent to replace Raydium's longstanding liquidity pools as its platform of choice. Such a move would shake up the economics of decentralized token trading on Solana.Right now, Raydium,...