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. 
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Started investing in crypto towards the end of 2020.

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