This week in crypto was, unsurprisingly, another FTX week. Sam Bankman-Fried wanted to start a new business to pay victims of the collapse, but was soon arrested in the Bahamas following criminal charges brought against him by the United States, after which he was denied bail and was released. being held in a detention center known for overcrowding and a lack of bathrooms. FTX's new CEO said $XNUMX billion in assets had been recovered and claimed the Bankman-Fried crypto empire had no corporate control and a surprising lack of financial and other record-keeping.
Meanwhile, mid-week Binance saw more than €3 billion in net withdrawals as rumors of alleged issues spread, with some reports claiming that Binance and Changpeng Zhao could face money laundering charges in the United States, and some investors are not happy with the exchange. . Proof of reserves audit. Additionally, Kevin O'Leary criticized Binance during a Senate hearing on Wednesday. Its competitor Coinbase has seen a 66% increase in law enforcement requests this year compared to last year. While this was going on, a US senator said he wasn't a regulator, but he saw no reason why cryptocurrencies should exist, and another US senator introduced a bipartisan bill to kill with the money laundering loopholes in the cryptocurrency industry.
While all this was going on, MetaMask partnered with PayPal to allow its US users to buy ETH from the wallet through the payments giant, Apple said it would allow iPhone and iPad users to install non-apps. the App Store next year, and Busan said it will become the first city to launch and operate a crypto exchange by the end of 2023. Lodestar Finance, meanwhile, lost €6 million on an exploit, and the biotech entrepreneur dropped in Unfortunately Martin Shkreli has claimed to know who Satoshi Nakamoto is.
In mining and regulatory news: Repeated power outages in Cuba have made it impossible to operate crypto mining rigs, while Russian energy providers have scared off illegal crypto miners who have been plying their trade out of their home. The G20 countries planned to build a political consensus on cryptocurrencies with the aim of regulating them, while in Brazil regulators said they would seek ways to control the issuance of tokenized assets, and the ministry public claimed that the "Bitcoin Pharaoh" hired “Professional Gunmen” to Assassinate Their Crypto Competitors Speaking of crime, Chinese police have arrested 63 people accused of laundering €1.72 billion via crypto, and French prosecutors have arrested two crypto scammers who used “suitcases” full of counterfeit notes. to fool crypto investors.
Now that we've been well informed, let's totally kid.