US prosecutors on Tuesday accused Sam Bankman-Fried, the founder of crypto currency exchange FTX, of fraud and violating campaign finance laws and a judge in the Bahamas denied him bail.

Former FTX founder Sam Bankman-Fried denied bail in Bahamas court

Binance has registered $1.9 billion withdrawals in the last 24 hours. It's world's biggest crypto exchange and has temporarily paused withdrawals of USDC stable coins. Binance, whose dominance of crypto was cemented by fall of FTX last week tweeted the proof of reserves.

World Business Watch: Binance withdrawals hit $1.9 bn in 24 hours

Sam Bankman-Fried the disgraced cryotocurrency tycoon and former CEO of now-defunct crypto platform FTX was arrested on Monday (December 12) in the Bahamas at the request of the United States.

Sam Bankman-Fried, ex-CEO of now-defunct crypto exchange FTX, arrested in Bahamas

FTX founder Sam Bankman-Fried was arrested in the Bahamas at the behest of US prosecutors on Monday, the day before he was due to testify before Congress about the abrupt failure last month of one of the world’s largest cryptocurrency exchanges.

Former FTX founder Sam Bankman-Fried arrested in Bahamas after US files charges

According to an investigation conducted by a South Korean intelligence department, Terra co-founder Do Kwon is now in Serbia. Watch full video to know more.

Crypto fugitive Do Kwon is in Serbia, says South Korean intelligence department

The European Central Bank (ECB) on Wednesday (December 1) opined that Bitcoin shouldn't be legitimised as it is being artificially propped up. The bank also said that Bitcoin was more akin to gambling.

Don't legitimise Bitcoin, it is being artificially propped up, warns ECB in scathing tone

The attorneys for FTX have made some startling revelations at the US bankruptcy court hearing on how the crypto exchange was run by its former boss Sam Bankman-Fried, the collapse of crypto exchanges left an estimated 1 million creditors facing losses to the tunes of billions of dollars.

FTX: Startling revelations by lawyers in court; Attorneys say, 'Was run as Personal Feifdom'

Reports suggest that crypto exchange FTX was on the radar of federal prosecutors long before its recent collapse. According to a Bloomberg article that quotes persons familiar with the situation, Federal prosecutors from the US Office for the Southern District of New York were already looking into FTX's "massive exchange operations" as part of a larger investigation into cryptocurrency platforms with US and foreign subsidiaries.

FTX was under the federal radar long before its collapse: Report

The recent collapse of crypto-exchange FTX has left the finance world shocked. Reports suggest that as the company stood on the threshhold of bankruptcy with panicked customers withdrawing billions from the platform, a frantic Sam Bankman-Fried "worked the phone" calling up once interested investors, engaged in a futile bid to raise $7 billion in emergency funds; money that could've saved his company.

Report reveals how FTX founder Sam Bankman-Fried begged for a rescue but failed to save his company

The collapsed-crypto exchange FTX in its bankruptcy filing indicated a "severe liquidity crisis," claiming that it may have more than 1 million creditors. "FTX faced a severe liquidity crisis that necessitated the filing of these cases on an emergency basis last Friday," said the court filing, as per Reuters.

FTX bankruptcy filing claims 'severe liquidity crisis', more than 100,000 creditors

Visa Inc. on Sunday announced it was severing its ties with now-bankrupt cryptocurrency exchange FTX. “The situation with FTX is unfortunate and we are monitoring developments closely," said a Visa spokesperson.

Visa severs ties with troubled cypto exchange FTX, calls situation 'unfortunate'

Ever since cryptocurrency exchange FTX declared bankruptcy and its cryptocurrency genius and founder Sam Bankman-Fried resigned, the entire sector has been in turmoil.

'We need regulations', says Binance CEO after rival exchange FTX goes under

Bankrupt Crypto trading fund FTX confirmed that there was an 'unauthorised access' to its accounts. Moments later, the embattled company's CEO announced that FTX is now switching off the option of trading or withdrawing funds, exactly how much money is involved still remains unclear.

FTX saga continues: Funds vanish at bankrupt Crypto exchange, company confirms 'unauthorised access'

Following unauthorised transactions potentially worth hundreds of thousands of dollars, the new CEO of the troubled cryptocurrency platform FTX said on Saturday that the company was making "every effort to secure all assets.

FTX says making ‘every effort to secure all assets’ after unauthorised transfers worth millions

About USD 1 billion in customer funds have vanished from troubled cryptocurrency exchange FTX, Reuters reported citing top official sources. The exchange's founder Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to Bankman-Fried's trading company Alameda Research, the people told Reuters.

FTX founder secretly moved $10bn of customer funds to his firm, over $1bn missing: Report

Bitcoin, the oldest cryptocurrency in the world is facing a bloodbath. A Bank of America report suggests that the cryptocurrency has faced the fifth-worst collapse of assets in financial history, and by far, the biggest since the 1970s.

Bitcoin plunges, records the fifth-biggest collapse in financial history: Report

There is simply no end to the woes of Bitcoin exchange FTX and more skeletons are coming out of the closet now. Meanwhile, some experts are calling the crashing of the crypto exchange, the beginning of a financial crisis moment of 2008 for digital assets globally.

Crypto exchange FTX files for bankruptcy; CEO Sam Bankman-Fried resigns

Crypto exchange coinbase Global has cut over 60 jobs in recruiting and other onboarding teams. It is coming at a time when plummet digital coins risks another contagion in the sector and bigger rival FTX is inching closer to collapse.

World Business Watch: Crypto exchange coinbase cuts jobs

A deal for leading cryptocurrency exchange FTX has collapsed after bigger rival Binance said that it was pulling out of the deal. Binance has now signed a non-binding agreement on Tuesday to buy FTX's non-United States' unit to help cover a liquidity crunch.

Binance walks away from FTX deal due to 'mishandled funds'

Cryptocurrencies tumble over failed FTX deal

Crypto giant Binance announced on Tuesday that it has signed an agreement to acquire the non-United States unit of its rival – FTX. The cryptocurrency market has been going through a major crisis for the past year and this deal will aid FTX in managing its current “liquidity crunch”.

Crypto giant Binance rescues rival FTX facing major crunch after dramatic fall in market

Usage of emerging technologies like cryptocurrency and crowdfunding by terrorist will be among the key focus areas at the 'No Money For Terror' ministerial conference that will be hosted by India later this month.

Usage of crypto by terrorists on the agenda at Delhi "No Money For Terror" meet

As engaged in controlling inflation, RBI recently rolled out its first pilot test programme to review and improve the currency’s functionality. Reserve Bank of India launched its first digital rupee on November 1 for the wholesale segment.

What is e-rupee and what is the difference between cryptocurrency and CBDC?

El Salvador has lost around $60 million on its bitcoin bet one year into a nationwide crypto experiment. The country faces plummeting economic growth and a high deficit.

World Business Watch | El Salvador's bitcoin experiment: $60 million lost

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