DeFi News Official Today TheBitTimes.com

On November 21, Tether published a new blog post detailing how it has collaborated with the United States Department of J US tice (DoJ) to assist in freezing Tether s tied to alleged crimes.  The post also details how it has “recently onboarded the United States Secret Service into its platform and will be working with the Federal Bureau of Investigation to do the same.” Paolo Ardoino, who is the chief executive officer at Tether, chief technology officer of Bitfinex, and chief strategy officer at Keet, stated that “Tether remains steadfast in its commitment to supporting law enforcement efforts and aiding victims in their recovery. We condemn the misuse of USDT or any cryptocurrency for illicit purposes and are fully committed to collaborating with global law enforcement agencies .” Tether froze $225M but $70M slipped the net Read more: Tether says it makes money but can’t ditch loans Tether is j US t one of the firms the US law enforcement apparat U...

In the criminal fraud trial of Sam Bankman-Fried, it’s all over bar the shouting. Both prosecution and defense made their closing statements in a marathon court day on Wednesday, and the jury will begin deliberations by the end of today.  Those closing statements were the respective legal teams’ final pitches to the jury. In a legal sense, the prosecution bore the burden of proving the charges against Bankman-Fried beyond a reasonable doubt. Its closing statements, delivered with vigor and precision by Assistant US Attorney Nicolas Roos, rose to that challenge by reviewing reams of documents and testimony showing that Bankman-Fried directed a group of co-conspirators to funnel FTX customer funds to Alameda Research, whose profits almost entirely belonged to Bankman-Fried. The mood in the courtroom was somber, and almost all jurors and alternates were attentive. Notably, both of Bankman-Fried’s parents were absent from the courtroom for the prosecution’s closing, presumably seque...

Coinbase CEO Brian Armstrong tweeted that BTC may be the “right long-term bet” for the two South American countries currently seeking a common currency. As Brazil and Argentina started preparatory work for a potential common currency, Coinbase CEO Brian Armstrong floated the idea of the two countries moving to Bitcoin (BTC), sparking various discussions over the viability of BTC as a national currency.  On Jan. 22, the two South American countries announced they starting to prepare to create a common currency that would run parallel with the Argentine peso and Brazilian real. The move could potentially create the second-largest currency bloc. As the news broke, Armstrong took to Twitter to suggest that BTC would be the “right long-term bet” and wonder if the two countries would consider it. Global Macro Investor founder and CEO Raoul Pal opposed the idea. According to Pal, having a national currency that “declines 65% in the down part of the business cycle and rises 10x in the up cycl...