FTX Creditors Sue Law Firm FTX creditors have filed a lawsuit against Sullivan & Cromwell (S&C), the law firm handling the exchange’s bankruptcy proceedings. They accuse S&C of helping FTX commit fraud. S&C’s Ties to FTX S&C’s relationship with FTX began in 2021 when FTX hired a former S&C employee as its general counsel. This…
Two cryptocurrencies linked to artificial intelligence (AI) are seeing a surge in value following the launch of a new text-to-video model by OpenAI. OpenAI’s Sora Model OpenAI, an AI research company, has introduced Sora, a model that generates high-quality videos based on text descriptions. Sora can create videos with complex camera movements, detailed scenes, and…
Check Washing Scam Targets Elderly Couple Diana and her husband, married for 70 years, were shocked to find thousands of dollars stolen from their U.S. Bank account. The money was intended for their future funeral expenses. The couple became victims of a “check washing” scam, where criminals alter the amount and recipient on checks. Frustrating…
Circle, the issuer of the second-largest stablecoin, has urged the U.S. Treasury Department to investigate its competitor, Tether. Treasury’s Authority Questioned Circle’s senior director, Caroline Hill, testified before Congress that Tether’s connection to the U.S. financial system through Cantor Fitzgerald gives the Treasury authority to take action. Tether’s Reputation and Alleged Malign Activities Hill cited…
Massive Security Failure Tens of thousands of Bank of America customers are facing the risk of identity theft after a major data breach. The breach occurred due to a failure at Infosys McCamish Systems (IMS), a vendor used by the bank. Sensitive Data Exposed The breach affected a deferred compensation plan, exposing a range of…
A prominent crypto trader, The Flow Horse, is optimistic about a specific Solana-based memecoin, dogwifhat (WIF). He believes it could surge over 116% from its current value. Key Points The Flow Horse targets a price of $0.80 for WIF. He recommends buying WIF on intraday dips. Bitcoin’s price movements will influence altcoin trends. Bitcoin’s Influence…
A prominent crypto analyst, Altcoin Sherpa, believes that Fetch.ai (FET), an AI-focused project, could continue its upward trend for several months. FET’s Potential According to Sherpa, FET is approaching a resistance level but has the potential to “go much higher” in the coming months. He suggests that $0.76 could be a key resistance level, with…
Bullish Outlook Guy Turner, host of the Coin Bureau YouTube channel, believes that Avalanche (AVAX) has the potential to skyrocket in the next bull market. He attributes this optimism to the project’s focus on tokenizing real-world assets, which he sees as a major trend. Turner suggests that AVAX could surge by up to 600% from…
Tether’s Dominance Tether (USDT), the leading stablecoin, is approaching a major milestone: a $100 billion market cap. This reflects its stability, which has made it a popular choice for investors seeking a safe haven in the volatile crypto market. Financial Performance Tether’s financial health is strong, with recent reports showing $3 billion in profits. This…
Mark Marko, CEO of Morgan Creek Capital, believes the Bitcoin bull market is still in its early stages. Six-Figure Bitcoin By Mid-2023 In an interview, Marko predicted that Bitcoin could reach $150,000 by mid-2023. He based this on the cryptocurrency’s network effects and the number of users and miners. Fair Value and Speculation According to…
