“The U.S. Department of Justice has reportedly launched a criminal probe into the alleged hack that drained nearly $400 million out of FTX-controlled wallets the night the Bahamas-based exchange filed for bankruptcy. The criminal investigation is separate from the fraud case against disgraced former CEO Sam Bankman-Fried, according to the Bloomberg report, which also said authorities have been able to freeze a portion of the stolen funds.
Blockchain experts have pointed to several clues that the hacker was an FTX insider, including the simultaneous hacks of the FTX and FTX US websites, the suspect’s access to multiple cold wallets and the use of a personal Kraken account to withdraw gas fees for at least one transaction.”
“Russia’s largest bank Sber — formerly known as Sberbank — reported the first issue of gold-backed digital financial assets (DFAs). The bank considers DFAs to be a “great alternative” to investments amid dedollarization. A diversified metals seller and manufacturer, Solfer, became the first investor to obtain the issued assets.
We expect the number of corporate clients on our platform to grow rapidly and plan to expand the product line of digital financial assets.
In June, a subsidiary of another Russia’s state-owned bank, VTB Factoring, reported its first major deal with digital finance assets. As part of the deal, the bank subsidiary acquired a tokenized debt pool of the engineering company Metrowagonmash, issued via the fintech platform Lighthouse.”
“This past spring, the Midas DeFi portfolio lost $50 million, or 20% of its $250 million in assets under management (AUM), and that after the collapse of Celsius and FTX, its platform experienced over 60% of AUM being withdrawn. The company now aims to focus on a new project that “aligns with our vision for” centralized decentralized finance (CeDeFi).
The goal of the new project is to create a win-win situation by connecting competing protocols with liquidity and offering a simplified yield to a range of DeFi and CeFi audiences.”
“After months of speculation that DeGods and Y00ts, two of the top Solana non-fungible token (NFT) projects, would be leaving the Solana network, the team behind the projects confirmed the migration. DeGods will be moving to the Ethereum blockchain, and Y00ts will be moving to Polygon early next year, the team said.
In the week leading up to the announcement, sales of DeGods and Y00ts accounted for nearly 70% of all Solana NFT sale volume. Sales of DeGods rose following the news, with the collection’s floor price increasing 12%.”
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“The guilty pleas made by former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang are ‘game changers for the case against Sam Bankman-Fried.’
Now you have two people – two insiders – who were with him, presumably during all of the pivotal moments at stake in the case saying ‘We conspired with others, presumably Sam Bankman-Fried, and we intentionally did something wrong.’
According to McGinley, that makes Bankman-Fried’s defense even more challenging, adding that it will be “very difficult” for Bankman-Fried’s counsel to “overcome” two cooperating witnesses. Bankman-Fried may not be able to bargain his way out, McGinley said. The prosecutor’s leniency relies on ‘evidence against someone else,’ and because Bankman-Fried was the head of FTX, ‘it’s very hard to see how he could cooperate at all.’
The options here are very limited. It remains to be seen, if the disgraced CEO has any information that could be of value to prosecutors.”