Another hard week for the crypto industry — particularly Justin Sun
Sun’s problems have snowballed since the collapse of FTX and the unmasking of Sam Bankman-Fried as a giant fraud.
SEC sues Justin Sun over TRX, BTT, market manipulation
The SEC claims that Sun, the Tron Foundation, the BitTorrent Foundation, and Rainberry Inc. engaged in a scheme involving wash trading.
Huobi monetizes FTX collapse with opaque debt token
Justin Sun’s Huobi has announced it will list the FTX User Debt (FUD) token issued by the DebtDAO, though details are sparse.
Justin Sun confirms 20% staff cuts at Huobi amid insolvency rumors
Rumors have been swirling about Huobi’s insolvency and employee cuts. Now, advisor Justin Sun confirms 20% of staff will be let go.
Coinbase staff told to wait an hour to discover if they were fired
According to an SEC filing, the cuts will leave Coinbase with around 5,000 remaining staff and will cost somewhere in the region of $40 million.
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What’s up with TrueUSD and the rest of TrustToken’s stablecoins?—by Protos Staff
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Blame the Fed: David Sacks and the VC who cried bank-run—by Protos Staff
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Alameda co-chief Caroline Ellison got 75% less in bonuses than male counterpart—by Protos Staff
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How Raoul Pal’s Real Vision left its audience in the dark—by Protos Staff
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HiveEx, Genesis Block, and SBF’s trading desk network—by Protos Staff
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‘Bitcoin Willy Wonka’ Max Keiser now works for El Salvador gov’t—by Protos Staff
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Winklevii band Mars Junction on hiatus as Gemini bank loss rumors swirl—by Protos Staff
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Gambling with Tether: Ultimate Bet, USDT perps, Tron bets, and the $1 peg—by Protos Staff
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Ordinals enable first-ever Bitcoin sovereign rollup—by Protos Staff