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Richard Lawler

Richard Lawler

Senior News Editor

Senior News Editor

    More From Richard Lawler

    Richard Lawler
    Richard Lawler
    Don’t believe everything you read, especially if it’s about crypto.

    Monday morning, the price of Bitcoin spiked 10 percent to $30,000 after a tweet from CoinTelegraph erroneously claimed the Securities and Exchange Commission approved a spot Bitcoin ETF for BlackRock. Crypto folks have been unsuccessfully trying to make this happen for years, to allow Bitcoin investment without using an exchange.

    The SEC has not approved it, and the tweet was pulled about 30 minutes later, with CoinTelegraph promising to follow up with an investigation (we have not seen its results yet). Now the SEC has some advice on where to go for information about its activities.

    Richard Lawler
    Richard Lawler
    FTX’s former head of engineering Nishad Singh is testifying against Sam Bankman-Fried.

    The FTX fraud trial continues, now with testimony from Singh, who’d owned 7.8 percent of the company and pleaded guilty to fraud charges in February.

    He’s admitted on the stand to committing fraud and campaign finance violations in a conspiracy with SBF, Alameda Research CEO Caroline Ellison, FTX CTO Gary Wang, and others.

    Richard Lawler
    Richard Lawler
    NASA just launched its next mission to an asteroid.

    Yes, NASA just revealed preliminary results from the OSIRIS-REx mission that snagged material from the asteroid Bennu, but this morning, it successfully launched Psyche, an orbiter that will attempt to visit an asteroid of that name, which was the 16th one discovered, on March 17th, 1852.

    Richard Lawler
    Richard Lawler
    Listen in to that infamous Alameda Research all-hands meeting.

    Questions from Sam Bankman-Fried’s own lawyers allowed jurors to hear snippets recorded from a November 2022 all-hands Days before SBF resigned and the company filed for bankruptcy, Caroline Ellison admitted to employees that Alameda took customer money from SBF’s other big business, the FTX crypto exchange.

    Ellison, SBF, and several others were aware of the scheme, she told the employees. Instead of the snippets jurors heard, Insider has posted the entire thing on SoundCloud, and this link will take you directly to the relevant segment.

    You can click here to follow all of our updates from Sam Bankman-Fried’s fraud trial.

    Richard Lawler
    Richard Lawler
    So is Threads into news or not?

    Meta’s incomplete answers about news on Threads are coming up again due to recent events and how things are (increasingly not) working on the platform formerly known as Twitter. In a response to The Verge’s Mia Sato today after that edit button-adding update, Instagram boss Adam Mosseri said it “won’t proactively recommend news content to people who don’t seek it out.”

    Richard Lawler
    Richard Lawler
    Things did, indeed, get worse.

    That is a theme of Caroline Ellison’s remarks about Sam Bankman-Fried and FTX during his trial on charges of wire fraud and conspiracy.

    “[SBF] was very ambitious,” she said. Besides telling her about his presidential chances, he also told her that if there was a coin flip where tails destroyed the world and heads made the world twice as good, he’d flip the coin. He called this being “risk-neutral,” which seems like a fancy way of saying he was a gambling addict.

    Ellison is back on the stand today, and I can’t wait for the next big update.

    Richard Lawler
    Richard Lawler
    Sam Bankman-Fried wanted to buy Snapchat.

    That’s one of the things mentioned during the ongoing testimony of former Alameda Research CEO Caroline Ellison against her terrible ex-boyfriend, as well as the idea SBF sought to have regulators “crack down on Binance,” the competing crypto exchange that sparked the run that took FTX down.

    You can expect more updates from Wednesday’s events in the Sam Bankman-Fried / FTX fraud trial to come later today.