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Tag: cryptocurrency

Science

Sam Bankman-Fried pleads not guilty to charges he defrauded FTX customers

Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, on Tuesday pleaded not guilty to charges that he defrauded customers out of millions of dollars worth of digital assets.Wearing a backpack, Bankman-Fried made his way through a sea of cameras as he entered the Manhattan courthouse on a rainy day to stand before U.S. District Judge Lewis Kaplan. Bankman-Fried sat silent in the court room while attorney Mark Cohen announced his client's plea."He pleads not guilty to all counts," Cohen said.  Judge Kaplan set a tentative trial date of Oct. 2.The U.S. Attorney's Office for the Southern District of New York has charged Bankman-Fried with eight counts of fraud, money laundering and other financial crimes. Bankman-Fried, who stepped...
FTX says “unauthorized access to certain assets has occurred” after declaring bankruptcy
Business

FTX says “unauthorized access to certain assets has occurred” after declaring bankruptcy

Just a day after FTX Trading announced it was filing for bankruptcy, the company's CEO said Saturday that "unauthorized access to certain assets has occurred.""An active fact review and mitigation exercise was initiated immediately in response," John Ray said in a statement, tweeted by the company's general counsel. "We have been in contact with, and are coordinating with law enforcement and relevant regulators."Reuters reported earlier Saturday that analysts had noticed "hundreds of millions of dollars of assets" were moved from the platform in "suspicious circumstances." Ray's statement also confirmed that the company "is in the process of removing trading and withdrawal functionality and moving as many digital assets as can be identified to a ...
Global Blockchain And Web3 Technology Takes Centerstage At The 2022 Edition Of Decipher In Dubai From November 28-30
Science

Global Blockchain And Web3 Technology Takes Centerstage At The 2022 Edition Of Decipher In Dubai From November 28-30

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. The 2022 edition of Decipher, an annual conference on blockchain and Web3 use cases hosted by Singapore-based blockchain platform Algorand Foundation, will be held at the Madinat Jumeirah Conference and Events Centre in Dubai, UAE, from November 28-30, 2022. Shutterstock The three-days-long conference is expected to see the participation of over 120 speakers from leading firms across the tech ecosystem such as Bahamian cryptocurrency exchange FTX, US-based global investment firm SkyBridge Capital, UK-based zero-carbon technology-based Formula E company Envision Racing, US-based music streaming platform Napster, Caym...
Bitcode Method – The Latest In Crypto AI Trading Technology
Science

Bitcode Method – The Latest In Crypto AI Trading Technology

London, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Bitcode Method is the leading cryptocurrency trading software on the market. The trading software is fully-automated and its cutting edge technology opens a world of opportunity for new and experienced traders in the cryptocurrency market. What Bitcode Method? Bitcode Method is an automated trading technology used to invest in cryptocurrencies. It is one of the few crypto trading technologies that can be used by all investors, both new and experienced. Bitcode Method is very user-friendly and has a very simple user interface. This trading technology is fully automated and does not require any manual labour, except for the initial account setup process. Visit The Official Bitcode Method Website Profitable Features Here are some of the ...
Gaming

Cryptocurrency Miners Are Selling Off GPUs For Cheaper

Photo: Joby Sessions / PC Gamer Magazine/ Future (Getty Images)The crypto market is continuing to fall, which has led a ton of miners to exit the market or to downscale their operations, thus finding themselves in possession of valuable computer components that they now no longer need. Some such miners, many from China and South Asia (where electricity is cheaper), are now taking that hardware and dumping it on e-commerce websites. As a result, GPUs that usually go for $500 to $600 are selling for around half that price on the secondhand market. As noted by PC Gamer, GPUs are suddenly flooding the market, a trend likely driven by several factors. The major one is how cryptocurrency prices have been plummeting since this winter. Now that it seems like the market won’t make a turnaround anyt...
What Is Blockchain Technology That Powers The Cryptocurrencies
Science

What Is Blockchain Technology That Powers The Cryptocurrencies

Your Guide To Blockchain TechnologyBlockchain has become a buzzword these days with the rising popularity of cryptocurrencies. So how does blockchain work?The cryptocurrencies run on blockchain technology, a type of database or a digital ledger that records all transactions related to the crypto coins. The technology derives its name from the fact that the information is stored in a chain of blocks.Blockchain technology records information so that it becomes difficult or impossible to hack, alter or cheat the data stored in the systems connected to the network.The digital records of all the transactions are distributed across the entire network of computers on the same blockchain.How Does It Work?The record of all the digital transactions carried out on the system is duplicated and shared ...
Coinbase Loses Half Its Value in a Week as Crypto Slumps | Business News
Business

Coinbase Loses Half Its Value in a Week as Crypto Slumps | Business News

By MATT OTT, AP Business WriterSILVER SPRING, Md. (AP) — Cryptocurrency trading platform Coinbase has lost half its value in the past week, including its biggest one-day drop 5o date on Wednesday as the famously volatile crypto market weathers yet another slump.Coinbase reported a $430 million net loss in the first quarter, or $1.98 per share, on declining sales and active users. Analysts were expecting profit of 8 cents per share. Revenue was down as trading volumes fell, and active monthly users declined 19% from the fourth quarter.It’s unlikely those results surprised investors — shares Coinbase Global Inc. declined 43% in the four days leading up to their earnings release Tuesday. On Wednesday, shares fell 26%, to $53.72 per share. On the day of its initial public offering just 13 mont...