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On Dec. 27, 2022, a number of onchain researchers noticed that funds connected to Alameda Research and FTX have moved and have been swapped for other tokens. Reports show the hacker known as the ‘FTX Accounts Drainer,’ traded large sums of ERC20 tokens for digital assets like tether, ethereum, and bitcoin. Funds Tied to Sam Bankman-Fried’s Alameda Research Traded for Ethereum, Tether, and Bitcoin It seems whoever controls the funds that once were connected to Alameda and FTX is starting to move a large handful of ERC20 tokens. According to the OXT onchain researcher Ergo , on Twitter, Alameda-linked addresses started to swap ERC20s for ETH and USDT . “Alameda ETH addresses are digging around in the sofa for spare change and swapping bits ERC20s for ETH / USDT ,” Ergo tweeted . “ ETH and USDT then funneled through instant exchangers. Rings some major alarm bells,” the onchain researcher added. In response to Ergo’s tweet, the onchain sleuth Zachxbt replied and said : “the funds...

A group of customers are now suing FTX in an attempt to become the first to recover funds from the insolvent cryptocurrency exchange. The lawsuit, filed as part of the bankruptcy case in Delaware, seeks a court ruling recognizing that their holdings with the trading platform belong to them rather than the failed company. Customers Sue FTX, SBF for Priority Right to Repayment Over Other Creditors Four FTX customers have filed a lawsuit on Tuesday against the crypto exchange and its former executives, including founder and ex-CEO Sam Bankman-Fried (SBF). They want the court to declare that the digital assets held with the platform belong to its customers rather than FTX or its other creditors. The group also asks their suit to be accepted as a class action as part of the case in Delaware, according to reports published by Reuters and Bloomberg. The Bahamas-based FTX filed for Chapter 11 bankruptcy protection in the state on Nov. 11 as traders and investors rushed to withdraw their m...

2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion has been erased from the stablecoin economy during the last 23 days as BUSD shed roughly 23.3% during the last month. Over $3 Billion in USD Value Has Been Erased From the Stablecoin Economy in 23 Days The market valuation of stablecoins has continued to slide and since Jan. 2022, $28.08 billion in U.S. dollar value has left the stablecoin economy. Archived data indicates that the stablecoin economy was valued at $167.08 billion on Jan. 5, 2022, and today it’s valued at $139.06 billion or 16.77% lower than the first week of the year. The stablecoin economy has not been this low in U.S. dollar value since Oct. 23, 2021, or around 14 months ago. In Jan. 2022, tether ( USDT ) had a market capitalization of around $77.14 billion, and today it’s down to $66.25 billion. Usd coin’s (USDC) valuation 1...

The Argentine senate is discussing a preliminary project that would regulate the way in which individuals and organizations promote crypto. The objective of the project, which is still under discussion, would be to educate consumers on the dangers of investing in crypto and also to protect them from investing in crypto Ponzi schemes. Argentine Senate Gets Into Crypto Advertisement Regulation More and more countries are taking action to avoid the diffusion of cryptocurrency scams through advertising channels. Argentina, one of the countries in Latam where cryptocurrency adoption has been growing, has begun to mull the establishment of crypto-related advertisement laws. The discussion, which is being promoted by Senator Eduardo Andrada and others, would put its focus on educating potential users of cryptocurrency about the particularities of these assets. In the same way, another of the objectives of this potential project would be to protect investors from falling into fake and Pon...

Bitcoin miner Argo Blockchain announced that it requested the suspension of trading its company shares on Dec. 27, as the company expects to make an announcement on Wednesday, Dec. 28, 2022. The company’s stock has lost 96.34% year-to-date and on Dec. 12, the bitcoin miner “advanced negotiations with a third party to sell certain assets” in order to “strengthen its balance sheet and improve its liquidity.” Argo Blockchain Requested a Suspension of Stock Trading Pending an Official Announcement On Tuesday, Dec. 27, 2022, the publicly-listed bitcoin miner Argo Blockchain (Nasdaq: ARBK ) announced that it has requested the suspension of trading its shares via Nasdaq and the London Stock Exchange as well. Argo detailed that it believes trading will resume after the company makes an important announcement on Dec. 28. Argo disclosed that the announcement is “expected to be released before [the] opening of trading on Wednesday.” Argo is one of many bitcoin mining operations that has suff...

The Nigerian security agency, the Department of State Services (DSS), has reportedly instructed its operatives to arrest the Central Bank of Nigeria governor Godwin Emefiele as soon as he is seen in public. The DSS is still seeking to apprehend Emefiele despite losing its bid to have a Nigerian court sanction the arrest. Nigerian Court Refuses to Back Arrest Plot As the controversy surrounding the failed arrest of Central Bank of Nigeria (CBN) governor Godwin Emefiele continues to hog the limelight, a new report by Sahara Reporters said operatives from Nigeria’s Department of State Services (DSS) have an order to “arrest him on sight.” In addition, the report, which relies on the testimony of unnamed sources, said operatives are also monitoring movements at the CBN headquarters as well as at the Emefiele family residence in Lagos. As explained in the report , the DSS’ unconfirmed plan to arrest Emefiele, who was part of Muhammadu Buhari’s entourage to the US-Africa Leaders’ Summit,...

As the end of 2022 approaches, a great number of bitcoin proponents are questioning whether or not the bottom is in as far as the official end of the crypto winter is concerned. The current bitcoin bear run just entered the longest bottom formation since the 2013-2015 bitcoin bear market. Moreover, analysts note that most of the technical bottom indicators used to predict bitcoin prices have failed to forecast whether or not the bottom is in. Rainbows and S2F: The List of Technical Indicators That Failed to Predict Bitcoin’s Bottom A month ago, crypto supporters celebrated enduring one of the longest and harshest bitcoin bear markets since the 2013-2015 bitcoin bear market. At the time, the 2013-2015 bitcoin bear run was the longest downturn but today, the current crypto economy’s contraction period is set to surpass the 2013-2015 crypto retrenchment. In addition to the longest bottom phase , Bitcoin.com News reported 144 days ago how a number of technical indicators failed this...