SBF to Face U.S. Charges as Ray Prepares Autopsy of FTX

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News

SBF to Face U.S. Charges as Ray Prepares to Share Autopsy of FTX

Prosecutors to Unseal Indictment on Same Day CEO to Tell Congress What Went Wrong at Exchange

By Samuel Haig

One month after FTX, the No. 2 crypto exchange worldwide, collapsed amid allegations of self-dealing, police in the Bahamas arrested its co-founder and former CEO, Sam Bankman-Fried, at the request of U.S. prosecutors.

In a tweet Monday night, Damian Williams, the U.S. attorney in Manhattan, said Bahamanian officials acted on his office’s request and that prosecutors plan to unseal an indictment Tuesday morning against the 30-year-old entrepreneur.

Read the full story in The Defiant

Crypto enforcement

Binance Could Face Criminal Charges From U.S. Department of Justice

Investors Pull Assets From Binance As Allegations Fly

By Owen Fernau

FTX’s implosion has ratcheted up the pressure on all centralized exchanges in crypto. The U.S. Department of Justice is reportedly considering criminal charges against Binance, the world’s largest crypto exchange. Reuters reports that, while yet to be filed, charges under investigation are unlicensed money transmission, money laundering conspiracy, and criminal sanctions violations.

Read the full story in The Defiant

Sponsored Post

DeFi Saver extension is now live within the Compound app

DeFi Saver is an all-in-one dashboard for creating, managing and tracking positions with automatic liquidation protection and leverage management options for only the most trusted DeFi protocols.

Thanks to Compound’s newly released extensions framework, DeFi Saver is now available as an extension within the Compound app. The two teams worked together to make DeFi Saver’s advanced and automation features available to Compound v3 users directly within the Compound application. Features such as 1-tx position rebalancing and automated liquidation protection are now available to users.

With the DeFi Saver extension, Compound users can rely on signature Boost and Repay options for 1-tx position rebalancing, which can, for example, come in handy in case of market crashes where a user may want to partially unwind (or ‘self liquidated’) part of their position to keep it from going under. In addition, all users can now consider automation options if they fear market drops while they are unable to actively monitor their positions.

The new release improves the user experience and makes DeFi Saver features more accessible to a wider audience. Making complex DeFi interactions simpler, more accessible, and more efficient for end-users has always been DeFi Saver’s goal.

With DeFi Saver, Compound users can now manage their positions automatically and more efficiently without leaving the Compound app.

defi disputes

Uniswap’s Adams Fires Back at Opponents of His Support for Ethereum Upgrade

Adams Says EIP 1153 Hits ‘Perfect Sweet Spot’ as Critics Argue it Favors DEX

By Aleksandar Gilbert

Uniswap founder Hayden Adams lashed out Sunday at critics who have questioned his support for a proposed upgrade to Ethereum code. He called their criticism a “conspiracy theory.”

Adams and others who support the proposal say it is a relatively minor change that would have been included in Ethereum’s next upgrade had it not been competing for attention with two other long-awaited changes.

Read the full story in The Defiant

Crypto Regulation

The Runway is Getting Shorter : Gensler

SEC Chair Calls Crypto Exchanges ‘Casinos’

By Aleksandar Gilbert

Crypto lender Nexo on Monday announced it would leave the US market, blaming a “lack of regulatory clarity.” Two days later, the country’s de facto crypto regulator had a simple message for the company: Don’t let the door hit you on the way out.

Read the full story in The Defiant

NFT Marketplaces

OpenSea To Transfer Control Of Royalty Enforcement Tool to Industry Collective

Manifold Releases Marketplace Blocker

By Owen Fernau

OpenSea To Transfer Control Of Royalty Enforcement Tool to Industry Collective

OpenSea, the leading NFT marketplace, is making waves once again in the ongoing debate over creator royalties. In the latest twist, OpenSea plans to transfer ownership of its Operator Filter Registry (OFR), a tool which only allows NFTs to be sold on marketplaces that enforce royalties, to a collective controlled by major players in the space.

Read the full story in The Defiant

DeFi Funds

Grayscale DeFi Fund Starts Trading

DEFG Tracks A Basket Of UNI, AAVE, MKR, CRV and COMP

By Owen Fernau

Digital asset manager Grayscale’s new DeFi-focused product has started trading on public markets. The Grayscale DeFi Fund (DEFG) will track a basket of the largest DeFi protocols — UNI, the token for Uniswap, the decentralized exchange, makes up nearly 70% of the fund, according to a press release.

Read the full story in The Defiant

GameFi

Illuvium’s New Offering Buoys Web3 Gaming

Onetime Darling of 2021 GameFi Market Returns with Overworld in Beta for 30,000 Gamers

By Samuel Haig

In a sign the GameFi market hasn’t completely cratered, Illuvium, the web3 game studio, released its second game, Overworld, in beta on Wednesday.

The beta launch is available to 30,000 of the more than 2M gamers that signed up for Illuvium’s waiting list, including those who have access to the second private beta for Illuvium’s title, Arena.

Read the full story in The Defiant

Shoutout

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