Wall Street Journal:
FTX’s collapse was exacerbated by centralization; FTX being a decentralized exchange, based on smart contracts, could have prevented SBF draining customer funds — Automated market makers can obviate the need to hold customer money and the opportunity for fraud.
CNBC:
The Southern District of New York charges SBF with wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, money laundering, and more — – Federal prosecutors in the Southern District of New York unsealed eight seperate charges against disgraced FTX co-founder Sam Bankman-Fried …
New York Times:
Source: US prosecutors charge Sam Bankman-Fried with wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering — A statement by the government of the Bahamas said Mr. Bankman-Fried was arrested after prosecutors in the United States filed criminal charges.
Matt Levine / Bloomberg:
SBF’s “carelessness” fraud defense, after misrepresenting risk management and funneling customer money to Alameda, is a confession the SEC sees straight through — Oh Sam — I. — Here is how you run a futures exchange: — You offer some bets on some propositions, say, whether Bitcoin will go up or down.
Brandy Betz / CoinDesk:
Estonia-based 3Commas, an automated crypto trading and portfolio management service, has raised a $37M Series B — The CEO of crypto custodian Copper also led the round for the trading bot-driven ecosystem. — 3Commas, an automated crypto trading bot platform, has raised $37 million …
Adi Robertson / The Verge:
Meta’s Oversight Board says the company should be more careful with automated moderation and criticizes removing a cartoon depicting police violence in Colombia — Meta’s Oversight Board says the company should be more careful with automated moderation tools, criticizing it for removing a cartoon depicting police violence in Colombia.
Bloomberg:
In his NYT interview, SBF gave few straight answers while admitting to gross errors, denying claims of fraud, and claiming he “didn’t knowingly commingle funds” — Mystery continues to shroud the missing billions at bankrupt crypto exchange FTX after its disgraced founder Sam …
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