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FTX crisis: sbf
FTX CEO blames SBF’s mismanagement for stock market collapse
“Old-fashioned embezzlement,” John Ray tells Congress
By Alexander Gilbert
Multiple lawmakers have criticized crypto during a widely publicized hearing on Tuesday’s FTX collapse. But for the company’s new CEO, who was appointed to clean up the mess left in its wake by Sam Bankman-Fried, the stock market’s demise was simply a case of “old-fashioned embezzlement.”
Read the full story in The Defiant
FTX Crisis: SBF
The Fed accuses the SBF of looting billions of dollars in client assets to save Alameda
Bankman-Fried indicted by three US agencies on fraud and conspiracy charges
By Edward Robinson
In a lawsuit that abruptly ended Sam Bankman-Fried’s apology tour, a federal grand jury charged the disgraced FTX co-founder with conspiracy to defraud investors and the US government in an indictment released Tuesday morning in New York.
Prosecutors charged Bankman-Fried with eight counts of securities fraud, wire fraud and conspiracy. The 30-year-old crypto entrepreneur is being arrested by law enforcement in the Bahamas, where FTX is based, awaiting an extradition request from the US Department of Justice.
Read the full story in The Defiant
Sponsored Post
The DeFi Saver extension is now live on the Compound app
DeFi saver is an all-in-one dashboard to create, manage and track positions with automatic liquidation protection and effective management options for only the most trusted DeFi protocols.
Thanks to Compound’s newly released extension framework, DeFi Saver is now available as an extension in the Compound app. The two teams worked together to bring DeFi Saver’s advanced and automated features to Compound v3 users directly within the Compound application. Features like 1-tx position rebalancing and automated liquidation protection are now available to users.
With the DeFi Saver extension, Compound users can rely on the characteristic Boost and Repay options for rebalancing 1-tx positions, which can come in handy in the event of market crashes, for example, when a user partially unwinds (or ” liquidate yourself”) wants position to save it from sinking. Additionally, all users can now consider automation options if they fear market downturns while not being able to actively monitor their positions.
The new version improves the user experience and makes DeFi Saver features more accessible to a wider audience. Making complex DeFi interactions easier, more accessible and more efficient for end users has always been the goal of DeFi Saver.
with DeFi saverCompound users can now manage their positions automatically and more efficiently without leaving the Compound app.
DeFi Governance
Balancer ends long governance battle with Whale
DEX members vote for peace with investor in duel over VE tokenomics
By Samuel Haig
For months, a long-simmering battle has rattled governance practices at Balancer, the #4 decentralized exchange. On Tuesday, Balancer, which is valued at $1.6 billion, signed a peace deal to settle an eight-month dispute with a whale named “Humpy ‘, who operates income farms.
Read the full story in The Defiant
Dex Aggregators
CowSwap introduces “surplus capturing” limit orders
The MetaDEX aggregator has facilitated over $18 billion worth of trades
By Owen Fernau
As the fallout from FTX’s implosion continues to cast a shadow over crypto, DeFi projects are still innovating and releasing new features. CowSwap, a decentralized exchange (DEX) aggregator, introduced limit orders on Dec. 12. Limit orders are a way for traders to set specific prices at which they will buy or sell an asset.
Read the full story in The Defiant
market action
Markets rally ahead of Fed as US inflation cools
Bitcoin and Ether surge to 4-week highs
By yyctrader
With all eyes on the Federal Reserve ahead of tomorrow’s crucial rate decision, investors breathed a sigh of relief on Tuesday after US inflation numbers came in below expectations. Consumer prices rose an annualized 7.1% in November, according to the Bureau of Labor Statistics. That was well below the 7.3% expected by analysts and the 7.7% recorded in October.
Read the full story in The Defiant
DeFi Explainer
What are DeFi protocols?
A step-by-step guide on how these important projects work
By Rahul Nambiampurath
The DeFi protocol is a set of codes that govern how digital assets are used on a blockchain network. Leveraging smart contracts and virtual machines (VMs), DeFi protocols manage exchanges, allow users to lend and borrow, and operate decentralized autonomous organizations (DAOs).
Read the full story in The Defiant
defiant video
Is Binance the next crypto giant to fall?
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