Sam Bankman-Fried Convicted, PayPal Faces SEC Subpoena, and Other News: Hodler’s Digest, Oct. 19 – Nov. 4
Sam Bankman-Fried Found Guilty of Fraud, Other Crimes; PayPal Receives Subpoena from the U.S. SEC, and Invesco Galaxy’s Spot Bitcoin ETF Joins DTCC Website.
Sam Bankman-Fried Convicted of Fraud and Other Crimes
Sam Bankman-Fried, the prominent crypto entrepreneur and founder of cryptocurrency exchange FTX, has been convicted of fraud and other crimes. The verdict was delivered following a lengthy investigation and trial conducted by law enforcement agencies.
The charges against Bankman-Fried included fraud, money laundering, and market manipulation. He was found guilty of using illegal tactics to manipulate the market and deceive investors, resulting in substantial financial losses for many individuals.
PayPal Faces SEC Subpoena
Payment giant PayPal is now under investigation by the U.S. Securities and Exchange Commission (SEC) after receiving a subpoena. The SEC is looking into potential violations of securities laws and regulations.
The investigation revolves around PayPal’s handling of certain financial transactions and its compliance with regulatory requirements. The outcome of the investigation could have significant implications for PayPal’s operations and reputation in the financial industry.
Invesco Galaxy’s Spot Bitcoin ETF Joins DTCC Website
In a significant development for the cryptocurrency industry, Invesco Galaxy’s spot Bitcoin ETF has been added to the Depository Trust & Clearing Corporation (DTCC) website. This move demonstrates the growing acceptance and integration of cryptocurrencies into traditional financial systems.
The addition of Invesco Galaxy’s ETF to the DTCC website provides investors with easier access to invest in Bitcoin through a regulated and secure platform. It also enhances the overall legitimacy and recognition of cryptocurrencies in the eyes of institutional investors.
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