Sam Bankman-Fried, facing the prospect of spending much of his adult life behind bars, on Thursday appealed his conviction and 25-year prison sentence for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded. Defense lawyer Marc Mukasey had announced plans for the appeal to the Manhattan-based 2nd U.S. Circuit Court of … Read more
To address potential financial stability risks and protect investors, it is important to arrive at a common approach to crypto assets, the Financial Stability Report released by RBI said on Thursday. In this context, various options are being considered internationally, it said. One option is to apply the same-risk-same-regulatory-outcome principle and subject them to the … Read more
Sam Bankman-Fried plans to drop his fight against extradition to the US to face a range of criminal charges, according to people familiar with the matter. The disgraced co-founder of crypto exchange FTX has been locked up in the Bahamas since last Monday when he was arrested at the request of American authorities. US prosecutors … Read more
The recent events in the digital assets industry have left an adverse impact on the sentiment and morale of users and investors. The primary reason behind the fiasco that we saw in the last few weeks was the lack of transparency from centralised exchanges or CEXs. These organisations in question can be classified as CeFi … Read more
The dollar languished on Friday after U.S. inflation data came in cooler than expected, raising market hopes that inflation may have peaked and that the Federal Reserve will begin scaling back its hefty interest rate increases. Figures showed that the consumer price index rose 7.7% year-on-year in October, the smallest gain since January and below … Read more