Cryptocurrency Archive

If you are in charge of Tether and someone shows up at your office to pitch you on a clever investment that will get you a higher return with only a little risk, you should put your fingers in your ears and scream “NO” and kick them out of your office. You can make billions of dollars of pure profit taking no risk!

Legal filings suggest Bankman and Fried were crucial to their son’s transfiguration from schlubby startup nerd to hyperconnected crypto mogul. The couple profited tremendously from FTX, netting $26 million in cash and real estate in 2022 alone. They were regular fixtures at the company’s offices, offered words of encouragement to employees and were included in internal company communications. Their reputations and connections were essential to FTX’s success.

FTX revealed earlier this week that it holds $1.16 billion of solana (SOL) – approximately 16% of the token’s outstanding supply – and about $560 million in bitcoin (BTC). The rest of its holdings consist of lesser known illiquid tokens.

Through the MLM structure, OneCoin members received commissions for recruiting others to purchase cryptocurrency packages. As the top MLM distributor of OneCoin, GREENWOOD earned 5% of monthly OneCoin sales from anywhere in the world, which totaled more than $200 million from the fourth quarter of 2014 through the fourth quarter of 2016 alone and exceeded approximately $300 million in total.

The price of Bitcoin dropped below $25,000, as people believe the FTX bankruptcy may sell off significant holdings of “altcoins” from the failed exchange. (CoinDesk)

Ethereum founder Vitalik Buterin’s Twitter / X account was hacked and sent out a malicious link that stole $691k in crypto.

And someone paid a $500,000 fee to send $1,865 worth of Bitcoin. (Web3 is Going just Great)