March 28, 2024
Crypto Community Reacts to Sam Bankman-Fried’s 25-Year Sentence
As the disgraced founder is handed a quarter of a century behind bars, the crypto world debated the fairness of the sentence and its implications.
A large element of Judge Kaplan’s 25-year prison sentence for Sam Bankman-Fried stemmed from the FTX founder’s philosophy on expected value.
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The price of bitcoin reclaimed the $71,000 mark late on Monday, before settling at around $70,400 at press time, marking a gain of 5.5% over the last 24 hours, as per data from CoinMarketCap. The sudden price action caught traders off guard, noted on-chain analytics firm Santiment, attributing the rebound …
Spot bitcoin exchange-traded funds (ETFs) have taken center stage over the last few months as BlackRock’s bitcoin ETF (IBIT) continues to hit new ETF industry records. As BlackRock’s IBIT reaches new heights, crypto investment firm Grayscale’s GBTC product is struggling with redemptions and could run out of bitcoin to sell …
In this weekly recap, we cover: Ethereum Foundation’s SEC Scrutiny: Following Ethereum’s switch to a proof-of-stake model, the SEC investigates the foundation for potentially aligning closer with security characteristics, intensifying regulatory debates. Bleak Outlook for Spot Ether ETFs: James Seyffart and Eric Balchunas from Bloomberg adjust their predictions, now foreseeing …
With pseudonymous Bitcoin creator Satoshi Nakamoto hitting the top 25 on the Forbes list of the world’s richest people, you may be curious to know which individuals and companies own the most bitcoin in the world. Read on to find out! Who Owns the Most Bitcoin in the World? Bitcoin’s …
BlackRock, the world’s largest asset manager, is off to a strong start with both its spot bitcoin exchange-traded fund (ETF), which has been trading since Jan. 11, and its even newer Ethereum-based tokenized fund, which has seen significant deposits since its launch last week. BlackRock’s spot bitcoin ETF, the iShares …
Base, the Coinbase-incubated layer 2 network, has undergone tremendous growth since the start of the year. Data from blockchain analytics firm Artemis shows that the total value locked (TVL), one popular metric to gauge the activity of a network, currently stands at $1 billion on Base. That represents a nearly …
The United States District Court for the Southern District of New York has rejected Coinbase’s motion to dismiss the Securities and Exchange Commission’s (SEC) charges against it. This pivotal decision not only escalates the legal confrontation between the cryptocurrency exchange and the regulatory agency but also signals a crucial moment …
Self-custody provider Casa announced on Wednesday a new product for BTC, ETH, USDT, and USDC that allows investors to give access to their crypto vaults to a designated family member, trustee, or estate executor in the event they pass away. Called Casa Inheritance, the product aims to address a widespread …
Munchables, a non-fungible token (NFT) game built on Ethereum layer 2 network Blast, suffered a multi-million dollar exploit on Tuesday, but it has since recovered the private keys holding $62.5 million in user funds from the Munchables developer it says was responsible. The team later added on X that “All …
The Solana blockchain has recently experienced a surge in usage, primarily driven by a wave of memecoin activity. This uptick has brought the platform’s high transaction throughput and low fees into the spotlight, attracting significant attention and active users. The last 30 days have been a period of remarkable growth …
In the currency markets, pegging refers to the creation of an exchange rate policy between different currencies, where one currency is set at a fixed rate against another to ensure stability. We have a similar concept in the cryptocurrency markets, where a stablecoin’s value is linked to an external asset, …
In this weekly recap, we cover: Ethereum Foundation’s SEC Scrutiny: Following Ethereum’s switch to a proof-of-stake model, the SEC investigates the foundation for potentially aligning closer with security characteristics, intensifying regulatory debates. Bleak Outlook for Spot Ether ETFs: James Seyffart and Eric Balchunas from Bloomberg adjust their predictions, now foreseeing …
The average gas fee for Blobs rose exponentially on Wednesday, roughly five hours after a new protocol called Etherscriptions introduced a way to inscribe data onto blobs. These Ethereum-based inscriptions, dubbed “BlobScriptions” have sent the blob base fee up to 14,499,530 wei at one point, according to data from Ethernow.xyz …
BlackRock, the world’s largest asset manager, is off to a strong start with both its spot bitcoin exchange-traded fund (ETF), which has been trading since Jan. 11, and its even newer Ethereum-based tokenized fund, which has seen significant deposits since its launch last week. BlackRock’s spot bitcoin ETF, the iShares …
Base, the Coinbase-incubated layer 2 network, has undergone tremendous growth since the start of the year. Data from blockchain analytics firm Artemis shows that the total value locked (TVL), one popular metric to gauge the activity of a network, currently stands at $1 billion on Base. That represents a nearly …
Rollup networks like Optimism, Arbitrum, and Base have emerged as high throughput alternatives to the Ethereum main chain as part of the effort to scale Ethereum. These layer 2 protocols execute transactions off-chain, with only the resulting state submitted to the Ethereum network. The success of Ethereum rollup networks is reflected …
Krishna Okhandiar, the founder of Remilia and the Milady non-fungible token (NFT) collection, more commonly known by the pseudonym “Charlotte Fang” has claimed that his wallet was drained by hackers after several popular NFTs and assets were transferred out and liquidated over the weekend. Dumpster DAO flagged the suspicious transactions …
The largest ever bitcoin block, measured by byte size, has been mined — and it consists entirely of a Bitcoin Ordinals inscription. The block was mined by bitcoin mining firm Marathon Digital’s Slipstream, a direct transaction submission service on bitcoin made possible by the company’s proprietary mining pool MARA, and …
Yuga Labs, the non-fungible token (NFT) heavyweight, announced on Monday afternoon that its collections with a royalty filter will only be available for trading on marketplaces that enforce royalty payments starting Tuesday. “We will be sunsetting our support for marketplaces who don’t support royalties for ALL creators. This means that …
Web3 digital identity provider Unstoppable Domains announced Friday morning that crypto denizens and specifically holders of the NFT collection Pudgy Penguins can acquire domains that end in “.pudgy.” According to a press release shared with Unchained, the partnership between Unstoppable Domains and Pudgy Penguins through the introduction of the new …
March 27, 11:11 p.m. Unchained arrives at the Daniel Patrick Moynihan United States Courthouse at 500 Pearl Street in New York City. March 28, 8:22 a.m. The defendant’s parents, Barbara Fried and Joseph Bankman, enter the Courthouse and proceed to the courtroom on the 26th floor. 8:50 a.m. Barbara Fried, …
The sentencing of Sam Bankman-Fried, once a luminary in the cryptocurrency world, has sent ripples through the community as he was handed a 25-year prison term by a federal judge on seven charges of conspiracy and fraud. As the verdict was announced, reactions poured in from all corners, but nowhere …
Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has been sentenced to 25 years in prison, marking an end to one of the largest criminal fraud cases in history. The sentence was handed down by Judge Lewis Kaplan in the Southern District of New York on March 28. …
Disgraced founder and former CEO of bankrupt crypto exchange FTX Sam Bankman-Fried will face sentencing before the Southern District of New York on Thursday for a laundry list of fraud charges. Unchained previously reported on the amount of jail time that SBF is looking at, which experts put at over …
Cross-chain communication protocol Wormhole enables users to transfer assets like fungible tokens and NFTs between blockchains. This article explains what Wormhole is, how it works, and the problems it solves. What Is Wormhole in Crypto? Wormhole is a cross-chain blockchain protocol that facilitates the seamless transfer of crypto assets and …
Almost a year-and-a-half ago, Solana was reeling from the collapse of FTX, with its token price plummeting nearly 70% to under $10. But as Solana reaches the fourth anniversary of its first block on March 16, it has ridden a wave of growth — and confidence — with 1.2 million …
Ethereum has completed a significant upgrade of its blockchain network, which is expected to pave the way for the next generation of crypto users to transact onchain without suffering significant spikes in gas fees. The upgrade, named “Dencun,” was completed early morning Wednesday ET after it was activated on Ethereum’s …
Some crypto protocols have upgraded their smart contracts ahead of Ethereum’s anticipated hard fork on March 13 in an effort to be compatible with EIP-4844, a critical element of the upcoming Dencun upgrade. Developers of zkSync performed a protocol upgrade yesterday to make the zero-knowledge-based rollup compatible with EIP-4844, said …