After signing an agreement earlier in the year, SBF is now officially in the United States.
According to the SEC chair, the agency will continue to crack down on cryptocurrency businesses.
Paxful removes Ether form their trading platform.
SBF is now available in the United States
Sam Bankman Fried, former CEO of FTX is now back in America after he was extradited to the USA from the Bahamas earlier this month. He signed US extradition papers earlier this week and was moved to the United States on Thursday.
SBF was given a bail amount of $250 million after the extradition. He paid the bail just hours later. He still has much to answer in the United States.
Earlier this week, former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty, after they were charged with committing fraud that resulted in the collapse of the FTX cryptocurrency exchange.
Damian Williams, the US Attorney for the South District of New York (SDNY), stated that this is not likely to be the last significant development in the FTX investigations.
The US SEC announced earlier this week that Wang and Ellison were being charged in connection to a multiyear scheme designed to defraud FTX equity investors.
Continued crackdown by the SEC on crypto
Gary Gensler, the chair of the SEC, stated earlier this week that they would continue to pursue cryptocurrency companies. He demanded regulation of cryptocurrency exchanges and issuers.
Gensler spoke out earlier this week in an interview.
“Financial history would tell you that most of these tokens [native tokens of crypto exchanges] It will not succeed. [Insiders] sell the public on an idea while they’re potentially fraudulently pumping up the stock. This leads to distorted incentives and puts the public further at risk of the token not being properly registered and having proper disclosures and complying with the various provisions of the securities law about anti-fraud and anti-manipulation.”
Paxful removes ETH form its platform
Peer-to-peer trading exchange Paxful announced earlier this week that it had removed Ether from its platform. The Paxful CEO cited the prevalence of scams among Ethereum-based tokens as one of the major reasons why ETH was removed.
Tezos activates Lima upgrade
The Tezos team announced earlier this week that it had completed the 12th upgrade on its blockchain. Lima is a new upgrade that introduces many new features and reduces the risk of bugs within smart contracts.
Lima is the fourth protocol update in 2022, as Tezos aims to improve its blockchain.
Waves will launch a new stablecoin
Waves already owns the USDN stablecoin. But that may not be enough. Sasha Ivanov (Waves CEO and founder) promised to launch a new stablecoin that could not be deppegged from the US Dollar.
However, the CEO stated that the new stablecoin wouldn’t be launched until USDN plan resolutions are implemented.
Binance.US acquires Voyager assets
BAM Trading Services Inc.’s bid (operating as Binance.US) was chosen by Voyager Digital LLC, the operating unit of Voyager Digital Ltd., to acquire its assets after reviewing strategic options.
Voyager Digital stated that Binance.US was chosen because it wanted to maximize the value it returned to creditors and clients as quickly as possible. Binance.US’s bid is estimated at $1.022 billion.
Voyager claims that the bid is the to-be-set fair value of its crypto portfolio. Current market prices have it valued at $1.002 trillion.