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FTX Insider Reveals New Document, Musk Catches Flak for SBF Comments, Nobel Prize Laureate Krugman Warns of Eternal Winter for Blockchain — Week in Review

News Feed - 2022-12-11 10:12:42

FTX Insider Reveals New Document, Musk Catches Flak for SBF Comments, Nobel Prize Laureate Krugman Warns of Eternal Winter for Blockchain — Week in Review


It’s been another wild week in crypto, with a claimed FTX insider revealing a controversial document related to former Alameda Research CEO Caroline Ellison’s account at FTX. In related news, Elon Musk has been criticized for suggesting that former FTX CEO Sam Bankman-Fried (SBF) probably donated much more than publicly admitted to Democrats. Morgan Creek Capital CEO Mark Yusko has suggested that SBF was a “pawn” used by higher-ups to punish crypto. These stories and more in this latest edition of the Bitcoin.com News Week in Review.


Document Claims Alameda CEO Caroline Ellison’s FTX Margin Position Was Negative $1.3B in May 2022


In a number of recent interviews, the former co-founder of FTX, Sam Bankman-Fried (SBF), explained that he “wasn’t running Alameda” and he “didn’t know the size of their position.” In a more recent discussion with The Block’s Frank Chaparro, SBF explained that auditors were looking at FTX’s corporate financials, but the auditors were “not looking at customer positions and not looking at customer risk.” This week, an FTX insider speaking to Bitcoin.com News under terms of anonymity shared a document that purportedly shows Alameda Research CEO Caroline Ellison’s personal account was in the hole by $1.31 billion in May 2022.


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Elon Musk Suspects Former FTX CEO Sam Bankman-Fried Donated Over $1 Billion to Support Democrats


Tesla CEO and Twitter chief Elon Musk says that former FTX CEO Sam Bankman-Fried (SBF) probably donated over $1 billion to support the Democratic Party, which would be a much larger sum than the number publicly disclosed. Many people slammed Musk for making accusations without providing proof. “This statement is so unbelievably irresponsible,” one commented.


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Morgan Creek CEO Says FTX Co-Founder SBF Was a ‘Pawn’ Used to ‘Punish’ the Crypto Industry


Following FTX’s collapse, many industry executives, influencers, luminaries, and politicians have shared their opinions about the carnage the event has caused to crypto markets and a great deal of innocent bystanders. On Dec. 2, the CEO and founder of Morgan Creek Capital, Mark Yusko, explained in an interview that it’s quite possible that the FTX co-founder Sam Bankman-Fried (SBF) was merely a “pawn” or “useful idiot” leveraged to “punish the industry.”


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Nobel Prize Laureate Paul Krugman Warns of an Eternal Winter for Blockchain


Nobel Prize-winning economist Paul Krugman has warned about the possibility of a perennial winter for blockchain projects, including crypto. In a recent article published in the New York Times (NYT), the economist criticizes blockchain as a tech and its uses citing several signs that he believes precede this upcoming winter.


Read More Tags in this story Alameda Research, Blockchain, Caroline Ellison, Elon Musk, ftx, Mark Yusko, Morgan Creek Capital, Paul Krugman, Sam Bankman-Fried


What are your thoughts on the current state of crypto and this week’s top stories? Let us know in the comments section below. Bitcoin.com


Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance. Failed FTX Rescue Attempt Revealed, Putin Calls for Digital Currency Settlements — Week in Review THE WEEKLY | Dec 4, 2022 Vitalik on Suspect Centralization, FTX"s "Absolute Fraud," Coinbase Confirms Bitcoin Holdings — Week in Review THE WEEKLY | Nov 27, 2022


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleYES WORLD Utility Services Are Now Available in 80 Countries Worldwide Next articleNew York Times, FT, Bloomberg Blasted for Attempting to Get FTX Creditors’ Names Unsealed 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 does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, 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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Tony Hawk"s Latest NFTs to Come With Signed Physical Skateboards Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale

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