One of the US attorneys behind the prosecution of former FTX executives testified as part of an evidentiary hearing exploring one of their plea deals. Danielle Sassoon, one of the US attorneys behind the prosecution of former FTX CEO Sam “SBF” Bankman-Fried, took the stand in an evidentiary hearing involving a deal with one of the company’s executives. In a Thursday hearing in the US District Court for the Southern District of New York, Sassoon testified about the guilty plea of Ryan Salame, the former co-CEO of FTX Digital Markets, which resulted in his sentencing to more than seven years in prison. According to reporting from Inner City Press, Sassoon said that her team would “probably not continue to investigate [Salame’s] conduct” if he agreed to plead guilty. Further investigation into the former FTX executive and his then-girlfriend, Michelle Bond, resulted in the latter facing campaign finance charges. Read more
The slated roundtable discussion comes as privacy experiences a renewed focus from crypto industry executives and civil liberties activists. The US Securities and Exchange Commission’s Crypto Task Force has scheduled a roundtable discussion centered on privacy and financial surveillance for December, as a renewed focus on privacy grips the cryptocurrency industry. The privacy roundtable is slated for Dec. 15. Like other SEC roundtables, crypto industry executives and SEC officials will discuss common pain points and solutions, but no hard policy proposals will be submitted. Privacy has become a hot-button topic following several developments, including the partial guilty verdict in Tornado Cash developer Roman Storm’s trial in June, the Samourai Wallet developer sentencing in November and the privacy token price rally over the last two months. Read more
Ether treasury companies are holding millions of dollars in unrealized losses, and the falling mNAV valuations and ETH’s potential to fall below $2,500 may further complicate matters. Key takeaways: Ether treasury companies are sitting on millions of dollars of unrealized losses, raising concerns about their sustainability. Ether treasury companies trading below NAVs signal eroding confidence, potentially pressuring ETH price further. Read more
Numerai's NMR token jumped over 40% after it announced a new funding round led by major university endowments, pushing the hedge fund to a $500M valuation. Numerai raised $30 million in a Series C round led by top university endowments, giving the AI-driven, crypto-incentivized hedge fund a $500 million valuation — five times its valuation in 2023. Following the announcement, Numeraire (NMR), the token that powers the platform’s crowdsourced prediction network, jumped over 40%, according to CoinGecko data. The raise drew participation from existing backers such as Shine Capital, Union Square Ventures and Paul Tudor Jones. Read more