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,, 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. 

Started investing in crypto towards the end of 2020.