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FTX
Elon Musk's AI Company Debuts ChatGPT Rival 'Grok;' XRP Rallies 10%
"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest crypto headlines today, including Elon Musk’s new AI company, xAI revealing a new AI bot to rival ChatGPT. There are new developments in crypto exchange FTX's bankruptcy saga. And, a closer look at what is driving XRP's price 10% higher in the last 24-hours as bitcoin (BTC) holds firm above $35,000 on Monday.
PayPal Facing SEC Subpoena Linked to Stablecoin Could Be a 'Power Grab,' Former Paxos Exec Says
PayPal received a subpoena from the SEC recently, requesting documentation about its stablecoin PYUSD. Columbia Business School adjunct professor and former Paxos head of portfolio management Austin Campbell discusses the agency's latest move, explaining why he thinks this is a "pretty transparent attempt at intimidation and a power grab, especially against another U.S. regulator." Plus, Campbell's reaction to FTX founder Sam Bankman-Fried's guilty verdict and the outlook for the crypto industry.
Unpacking Sam Bankman-Fried’s Guilty Verdict: What Happens Next?
FTX founder Sam Bankman-Fried was found guilty by a jury on all seven counts of fraud in federal court. What does this verdict mean for the future of the crypto industry? CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De weighs in and also shares an update on Bankman-Fried's tentative sentencing hearing slated for March 28, 2024.
SOL Drops 5% as FTX Estate Transfers Tokens to Binance, Kraken
The $30 million transfer takes the total SOL moved to exchanges to $102 million, the most out of any liquid asset, while the token's price is near the highest in a year.
FTX Wants to Sell $744M Worth of Grayscale, Bitwise Assets
Apart from using an investment adviser, the debtors have proposed setting up a pricing committee in which all stakeholders are represented.
A Tale of 2 SEC Commissioners
While SEC Commissioner Hester Peirce has proven constructive and shown a willingness to improve regulatory shortcomings, Chairman Gary Gensler has been anything but.
Who Won and Lost Most in Sam Bankman-Fried's Criminal Scheme?
The trial verdict is an indictment of regulators and the VC industry. But the U.S. justice system and, yes, journalists, proved their worth more than ever.
Ex-FTX Unit LedgerX in Gray Area Beyond CFTC Proposal on Customer Funds: Commissioner
The U.S. derivatives regulator proposed a new rule for how regulated firms should invest clients' funds, but a CFTC commissioner pointed out it doesn't address LedgerX.
Lawyer Explains Why Sam Bankman-Fried Probably Won't Spend Life in Prison
Ford O'Brien Landy LLP partner Kevin J. O’Brien predicts that Sam Bankman-Fried could face a prison sentence of "something in the neighborhood of 15 years, or maybe even 20 years." "He's a relatively young man, his whole life is in front of him," O’Brien said. "I don't think the judge is going to want to destroy his chances of having a full and productive adult life."
An Appeal 'Doesn't Appear Very Likely' for Sam Bankman-Fried, Lawyer Says
Ford O'Brien Landy LLP partner Kevin J. O’Brien weighs in on the possibility for Sam Bankman-Fried's defense team to be granted an appeal after the FTX founder was found guilty in a New York City courtroom on Thursday night. "Mr. Cohen is a very able lawyer...but on the face of it, there doesn't seem to be much for them to work with here," O’Brien said. The "trial was very well-tried by the government."