The outcome of SBF’s prosecution could determine how the IRS treats your FTX losses

FTX founder Sam Bankman-Fried has received official criminal charges after the collapse of his cryptocurrency exchange, which is more than just a moral victory for the exchange’s roughly 1 million individual investors. While not locked in yet, things appear to be on track for these investors to take a more favorable tax position as SBF’s … Read more

Democrats to reportedly return over $1M of SBF’s funding to FTX victims

Following the arrest of former FTX CEO Sam Bankman-Fried (SBF), three prominent Democratic groups have reportedly decided to return over $1 million to investors that lost their funds due to misappropriation. On Dec. 16, the Democratic National Committee (DNC), the Democratic Senatorial Campaign Committee (DSCC) and the Democratic Congressional Campaign Committee (DCCC) pledged to return … Read more

Metaverse experience to sway real-world travel choices in 2023: Survey

As borders open up following prolonged COVID-19-induced travel restrictions, the metaverse, one of the latest sub-crypto ecosystems, is set to help travelers decide on the destinations they want to experience in person, reveals a new survey conducted by personally. Popular online travel agency surveyed 24,179 respondents across 32 countries, which revealed travelers’ strong … Read more

Bitvavo to prefund locked DCG assets worth $296.7M amid liquidity crisis

The Digital Currency Group and its affiliates (DCG), which manages $296.7 million (280 million euros) in deposits and digital assets of crypto exchange Bitvavo for off-chain staking services, suspended repayments citing liquidity problems amid the bear market. However, Bitvavo announced to prefund the locked assets, preventing DCG-induced service disruption for users. With users proactively exploring … Read more