Sam Bankman-Fried Sues Insurer for Defense Fees as Trial Begins
SBF has coverage for directors and officers through FTX Trading‘s parent company, Paper Bird, but now that two companies have paid out $10 million, the third in line is refusing to pay, according to the lawsuit. As the final preparations for Sam Bankman-Fried’s trial were being made in Manhattan, his counsel filed a lawsuit against […]
Optimism Network Introduces Fault-Proof Testnet
OP Labs asserts that the new fault-proof system will help OP Stack networks achieve decentralization According to a blog post published on October 3, OP Labs, the creator of the Optimism network, launched a testnet variant of its fault-proof system. Once testing is complete, it will enable “a more decentralized and efficient Superchain,” according to […]
Binance, Royal Thai Police Partner to seize $277M From Scammers
Binance stated in a press release that they collaborated with Royal Thai Police to disrupt the criminal organization by providing intelligence, and over 3,000 victims of the alleged crypto scammers have filed for compensation claims. The operation, which had the codename “Trust No One,” resulted in the apprehension of five alleged key syndicate members and […]
BTG Pactual Buys Bitcoin-friendly Brokerage Orama
Brazillian bank BTG Pactual, in its expansion, has acquired cryptocurrency-friendly brokerage Orama for $99M and is also planning to launch its own stablecoin. BTG Pactual has agreed to purchase all of Orama’s shares for 500 million Brazilian reals ($98.7 million). BTG Pactual stated on October 2 that the acquisition is part of the bank’s digital […]
Samsung, Tenstorrent Partner to Develop AI Chips
The Canadian startup Tenstorrent has announced a new partnership with Samsung’s semiconductor manufacturing division to produce AI chips and intellectual property for data centers. On Oct. 2, the startup announced the partnership with Samsung, saying it will use it to deliver the “next generation of AI chiplets to market.” Tenstorrent is a semiconductor and intellectual […]