Dec 2022 Crypto Industry Updates
Table of Contents
Content will be sorted chronologically with latest at the bottom.
- Sam Bankman-Fried: FTX founder arrested in Bahamas [12 Dec 2022]
- charged by the US Department of Justice on 13 Dec 2022 with defrauding investors by misappropriating their deposits to pay for Alameda’s expenses and debts and to make investments.
- US Securities and Exchange Commission alleged Bankman-Fried defrauded investors in FTX by raising more than US$1.8 billion in equity while concealing that the company was diverting customer funds to Alameda.
- Mazars Group suspends all work with crypto clients citing concerns over public perception of proof of reserves
- Mazars is headquartered in Paris
- customers include Binance, Crypto.com, KuCoin
- Core Scientific files for bankruptcy [21 Dec 2022]
- one of the biggest publicly traded cryptocurrency mining companies in the United States
- based in Austin, Texas
- filed for Chapter 11 bankruptcy protection
- attributed its bankruptcy to low bitcoin prices, rising energy costs for bitcoin mining, and a US$7 million unpaid debt from crypto lender Celsius Network
- Hong Kong police arrested two executives of the crypto exchange AAX [23 Dec 2022]
- The pair (Weigao Capital CEO Liang Haoming and former AAX CEO Thor Chan) are accused of fraud and misleading the police, according to local media reports.