Gary Wang is the fifth former executive of now-bankrupt cryptocurrency exchange FTX to be sentenced for his role in the company’s collapse. Wang was sentenced to prison, three years of supervised release, and ordered to pay a fine of $11 billion. Sam Bankman-Fried, Caroline Ellison, Nishad Singh and Ryan Salame are also former FTX employees who were indicted and sentenced. Gary Wang, the co-founder of bankrupt cryptocurrency exchange FTX, avoided prison time after Judge Lewis Kaplan of the Southern District of New York sentenced him to prison. According to CNBC, Wang was sentenced to three years of supervised release in…
Author: Crypto Flexs
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The results of the 2024 US election, with Republicans taking control of the White House, Senate and Congress, could significantly reshape the US cryptocurrency regulatory environment, according to S&P analysts. According to a recent S&P Global report shared with crypto.news, this political shift could shift the U.S. approach to cryptocurrency regulation from enforcement-led measures to a more predictable rulemaking framework. The United States has trailed other major markets in improving regulatory clarity for digital assets. Regions such as Europe have introduced structured frameworks for stablecoin and other cryptocurrency activities. Stablecoins, a type of cryptocurrency linked to fiat currencies such as…
Bitcoin (BTC) continues its march towards the coveted $100,000 after hitting another all-time high above $94,000 on November 19. Although this record-breaking move did not spark “euphoria,” analysts say it is needed to push BTC’s price higher.BTC/USD daily chart. source: TradingView Lack of “encouraging signs” of crowd euphoria for BTCBitcoin prices ended a five-day choppy price movement on November 19, rising as much as 4% from a low of $90,407 to hit a new all-time high of $94,002, according to data from Cointelegraph Markets Pro and TradingView.Despite this new milestone, public interest was lackluster, with market intelligence firm Santiment describing…
JUP price rebounded above $1 and then retested key resistance levels. Crypto analyst Rekt Capital suggests holding above the support level would help the bulls rise. With Solana price crossing $240 and nearing an all-time high, cryptocurrency analyst Rekt Capital said Jupiter (JUP) could follow suit. The native token of the decentralized exchange (DEX) aggregator, which is considered a major ecosystem player in Solana, is attracting attention for its potential. “Jupiter was able to successfully retest the previous resistance zone (red) as a new support line. In fact, JUP even performed a volatile downward retest of its months-old blue diagonal…
Seasoned trader Peter Brandt believes that the recent price action of the top memecoin, Dogecoin (DOGE), looks incredibly bullish. Brandt told his 751,800 followers on social media platform X that DOGE has broken two technical patterns on the weekly charts this year. The veteran trader shares a chart that suggests DOGE has cleared the resistance level of the descending channel and inverse head and shoulders pattern. “Super powerful chart.” Source: Peter Brandt/X A descending pattern is generally considered a bearish pattern unless the asset breaks the diagonal resistance of the structure. Meanwhile, the inverted head and shoulders structure is considered…
At a recent hearing, Gary Wang, co-founder of FTX and close associate of Sam Bankman Fried, avoided prison and was released from three years incarcerated. Former FTX executive Gary Wang avoided prison after helping to convict founder Sam Bankman-Fried (SBF). Even after pleading guilty to the FTX fraud, Wang cooperated with the court and the case and received a lenient sentence. The judge asked Gary Wang to cooperate in the FTX case. Judge Lewis A. Kaplan ruled out jailing Wang, saying he deserves a “new world” depending on his level of cooperation. “You did the right thing immediately,” Judge Kaplan…
Rebecca Moen November 20, 2024 14:36 First Digital is introducing the stablecoin FDUSD as the native token of the Sui blockchain, expanding DeFi options and demonstrating institutional trust in Sui’s growing ecosystem. First Digital has expanded its stablecoin offering by launching the FDUSD stablecoin as the native token of the Sui blockchain. According to the Sui Foundation, this development provides additional options for decentralized finance (DeFi) users, further enhancing the diversity of the ecosystem. FDUSD Joins Sui’s Stablecoin List FDUSD joins the growing list of stablecoins on the Sui platform that already includes USDC…
If VeChain breaks above the descending channel, a potential rebound towards $0.05 is possible. Market activity suggested cautious optimism despite declining social dominance. VeChain (VET) It recently broke a multi-year bearish channel, sparking renewed bullish optimism and garnering significant attention. However, at the time of press, VET was trading at $0.03254, down 0.82% in the last 24 hours. The token recently fell from $0.035, and its social dominance decreased from 0.242% the previous day to 0.181%. Despite this decline, can VET sustain the breakout and head towards $0.05? Two factors point to continued strength VET’s breakout brought it closer to…
Bitcoin maintained pressure on $94,000 until the Wall Street open on November 20 as bidders pushed the price of BTC lower.BTC/USD 4-hour chart. Source: TradingViewBTC Price Record Highest Dormant Coin RemovalData from Cointelegraph Markets Pro and TradingView followed BTC/USD, this time bouncing off a low of $91,500.The characteristic bullish move meant that Bitcoin (BTC)’s all-time high of $94,374 on Bitstamp was reached before the start of the US trading session.Trader Skew noted changes in liquidity conditions on exchange orders. “Has anyone got any information?” He mentioned spot market and perpetual market bidding in one of his latest posts on X.BTC/USDT…
On-chain data has revealed that a large, unknown investor holds more than 10% of the Shiba Inu token supply, raising new concerns about the distribution of the world’s second-largest memecoin.The mysterious Shiba Inu (SHIB) whale owns more than 10% of the total supply of tokens across 150 addresses.According to a November 19 post by blockchain data company Bubblemaps, whales have continued to hold SHIB coins since 2020 despite their holdings being worth over $5 billion at peak valuation.“Between August and October 2020, new players emerged. 0x1406 purchased 103T $SHIB (10% of supply) for just 38 ETH. At that time, 38…