The founder of the now-defunct cryptocurrency exchange, FTX, Sam Bankman-Fried, was incarcerated after his $250m (£197m) bail was rescinded due to accusations of witness tampering.
As the digital coin crisis continues, Crypto.com will reduce its workforce by 20pc
Crypto.com, a trading platform, is cutting its global workforce by around 20%. This follows the recent crisis in the sector of digital assets.
Before the market crashed, dozens of traders from the London crypto hedge fund were millionaires.
Wintermute paid $83m to its UK employees in 2021, which included $22.5m to one director.
In the cryptocurrency world, nobody wants to become the ‘next FTX’
Sam Bankman-Fried, clean-shaven in a blue suit and dressed in a white shirt, listened to his lawyer pleads not guilty to the alleged “epic” fraud in New York.
As the industry slump continues, Huobi, a crypto exchange, will lay off 20% of its staff
The company said that it will lay off approximately 20% of its employees at the crypto exchange Huobi. This is the latest indication of drastic cost-cutting in the sector as
Crypto-focused bank Silvergate bank forced to fire 40pc of staff as FTX fallout deepens
Silvergate, a crypto-focused bank, is set to reduce 40% of its staff in response to the crisis in digital asset sectors sparked by Sam Bankman-Fried’s collapse.
FTX lawyer cooperated with US prosecutors
According to reports, Daniel Friedberg, FTX’s former top attorney, has cooperated with US prosecutors in their investigation into the collapse of the crypto firms.
Sam Bankman Fried’s ex-girlfriend, FTX cofounder, plead guilty to fraud
Sam Bankman Fried’s ex-girlfriend, and one of his closest friends, pleaded guilty to fraud and have cooperated with US authorities investigating the collapse of FTX.