Just when you thought the onslaught of rumors in cryptotown was starting to cool down, crypto-Twitter was rocked this week by a stream of news that brought it back on track.
Two of the three bombs were dropped on Monday and kept people awake all week. The first was the arrest of former FTX CEO Sam Bankman-Fried in the Bahamas. The Justice Department charged him with conspiracy , wire fraud , money laundering and SEC securities violations .
Surprisingly, Twitter was the be-all and end-all .
On the same day, a leaked SBF email from the Bahamas attorney general, dated Nov. 10, said the former billionaire is "cautiously optimistic that [FTX] will survive the turbulence and remain sufficiently liquid." Withdrawal for all customers.
Looking at the timeline of events with the benefit of new insight, we can say that it was definitely a lie.
"In accordance with the laws of our country, it was appropriate for the Attorney General to arrest and detain SBF," said an official statement released by the Bahamas Attorney General's Office following the arrest . OK!
Matt Fairchild, director of marketing for cryptometaverse gaming platform Core Games, highlighted the situation on Twitter that day.
As a result of the arrest, US Rep. Alexandria Ocasio-Cortz said she was "disappointed" that SBF was not present at the DC hearing this week. Note that the SBF was absent from Monday's session, fearing that their presence would create a " paparazzi effect " . Damned if it works, damned if it doesn't.
Meanwhile, US Senator Cynthia Lammis called the FTX saga "a case of good old fashioned fraud".
If that wasn't bad enough, SBF met with Riot Games, publisher of League of Legends. You know the old saying, "The higher you go, the lower you fall"? Of course, SBF does not apply to game skills.
What about Binance?
Another big topic of conversation this week is the growing reputation of Binance. Tom Wan, an analyst at crypto investment products firm 21.co, tweeted on Monday that it appears many coins have moved away from centralized exchanges.
After 24 hours, the stock market recorded a net inflow of more than 2,000 million between Monday and Tuesday , the highest since June, according to data from Nansen.
CEO Changpeng "CZ" Zhao told employees Wednesday that he expects the next few months to be "difficult . " As the flow increases, the boss is left with a poker face.
CZ warned its fans against FUD on Saturday.
Trump Launched Blockchain's Trump Card
Former US President and 2024 presidential candidate Donald Trump announced his first foray into cryptocurrency on Thursday with the launch of the "Trump Card" NFT collection.
Is it us or are these categories a bit dependent?
And who or what was going on here?
Maybe that explains it?
Okay, we're out again.
It looks like Christmas has come early for the Trump family this year.
I think it was exactly what everyone expected : completely chaotic and a bit controversial. He thinks it runs in the family.