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10/10 Price Analysis: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

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Old markets continue to negatively affect the bitcoin price, but one positive sign is that the bulls are not allowing BTC to retest the June low.

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Maxine Waters criticized for praising SBF – ‘We appreciate you being candid,’ said lawmaker – Regulation Bitcoin News

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Congresswoman Maxine Waters has come under fire for saying she appreciates former FTX CEO Sam Bankman-Fried (SBF) being forthright in his discussions about the collapse of his own cryptocurrency exchange, FTX. The SBF, in fact, has not been forthcoming in its discussions. He committed fraud, full stop, one critic stressed.

Maxine Waters was criticized for underestimating Sam Bankman-Fried

Congresswoman Maxine Waters (D-CA), chair of the House Committee on Financial Services, came under fire on social media after she tweeted her appreciation to former FTX CEO Sam Bankman-Fried (SBF) on Friday.

Waters is leading a congressional hearing on the collapse of cryptocurrency exchange FTX, which will begin on December 13. The lawmaker wrote: “We appreciate that you have been candid in your discussions about what happened at FTX. Your willingness to speak with the public will help the company’s clients, investors and others. To that end, we welcome your participation in the hearing on the 13th.”

Maxine Waters criticized for praising SBF - 'We appreciate you being candid' said lawmaker

Several people quickly pointed out to Waters that the former FTX CEO is a fraud and should be arrested on sight. Some people have even compared Bankman Fried and the FTX Explosion to it Bernie Madoff’s Ponzi Scheme.

“If you don’t arrest him, I will lose all faith that our government is the smallest piece of justice.” Bitcoin supporter Dan Held answered to Waters.

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Attorney Jake Chervinsky responded to the congresswoman: “Rep. Waters, we appreciate you having a hearing on the 13th, and we look forward to objective fact-finding about what happened at FTX.” he is added:

I’m sure fact-finding will show that the SBF was not, in fact, forthright in its discussions. He committed fraud, full stop.

However, not many people are surprised by Waters’ tweet given her good relations with Bankman Fried. It even appeared to be at the conclusion of a congressional hearing last year A storm of kisses in sbf. Some people also pointed out that the former FTX executive He gave 300 thousand dollars members of the Water Committee.

Maxine Waters criticized for praising SBF - 'We appreciate you being candid' said lawmaker
Sam Bankman-Fried (center left) and Rep. Maxine Waters (center right). Source: Twitter.

Cryptocurrency exchange FTX collapsed and was introduced to bankruptcy On November 11, an estimated one million customers and investors lost billions of dollars in the crash. FTX is currently under investigation by authorities in multiple jurisdictions. In the United States, the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and other regulators are Investigation Exchange for mishandling of customer funds, among other charges.

Jeremy Hogan, Partner at Hogan & Hogan, Tell waters:

You, as the chair (or the committee itself), can simply call him to testify. No need to ask nicely on Twitter. It’s Article Eleventh House Clause 2(m). But I’m sure you already know that.

Bankman-Fried was the second largest donor to the Democratic Party during the 2021-22 election cycle. According to Opensecrets, he donated $39,884,256 to the Democrats before FTX imploded and he had to file for bankruptcy. However, Tesla CEO and Twitter head Elon Musk Believes That SBF’s actual support for the Democrats was more than $1 billion.

What do you think of Rep. Maxine Waters’ statement regarding Bankman-Fried and do you think she should lead the investigation into the FTX collapse? Let us know in the comments section below.

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Kevin Helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

Image credits: shutterstock, pixabay, wikicommons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com It does not provide investment, tax, legal or accounting advice. Neither the Company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


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Alameda Research Invests $1.15 Billion in Genesis Digital: Report

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Crypto mining company Genesis Digital Assets was the largest venture capital investment made by Alameda Research, the sister company of FTX and at the center of a stock market bankruptcy. documents a statement By Bloomberg on Dec. 3, it showed that Genesis Digital raised $1.15 billion from Alameda in less than nine months.

The capital injection took place before cryptocurrency prices plummeted, between August 2021 and April this year. Genesis Digital is a major US-based Bitcoin mining company, unrelated to Genesis Capital, and A trading company with funds worth $175 million Locked in FTX trading account.

Former FTX CEO Sam Bankman-Fried recently a favour Participation in Project Alameda decisions, including investment in Genesis Digital, although initially denied by regulators. Based on the documents, the capital was deployed by Alameda at four different moments: $100 million in August 2021, $550 million in January, $250 million in February, and $250 million in April 2022.

Last year, Genesis Digital He raised a total of $556 million Through two separate financing rounds to support its massive growth plans. Some funds sought to buy 20,000 Bitcoin miners from Canaana new data center in Texas and expansion of its operations in the United States and Northern Europe.

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The mining sector has seen its profit margins shrink due to rising energy costs and a bear market. Hashrate Index’s latest Q3 mining report highlighted Several factors that led to a much lower hash rate and a higher cost of producing 1 bitcoin. Revenue earned by bitcoin miners It fell to a two-year low of $11.67 milliondue to poor market performance and heavy algorithmic demand.

FTX’s recent crisis is It is expected to make the cryptocurrency winter longer With the erosion of investor confidence. The Coinbase report shows that stablecoin dominance has reached a new high of 18%, indicating that the liquidity crisis may extend at least until the end of 2023.

Genesis Digital Assets did not immediately respond to Cointelegraphs’ requests for comment.