
The jury that will determine the fate of FTX founder Sam Bankman-Fried in his ongoing fraud trial is made up of 12 ordinary New Yorkers, most of whom have no connection to finance or crypto. Banks may be required to reveal their exposure to crypto, the co-founder of bankrupt cryptocurrency lender Voyager Digital, may be accused by the CFTC of misleading clients, and Stars Arena was hacked. A unemployed social worker, librarian, and a train conductor are among the 12 New York jurors who will pass judgment in the ongoing trial of FTX founder Sam Bankman-Fried.
Bankman-Fried, accused of embezzling billions in customer funds from the now-bankrupt crypto exchange, faces a jury of nine women and three men ranging in age from early 30s to late 60s. Most of thesurveyed have no connection to finance or cryptocurrency, according to the report.
Banks with cryptocurrency exposure may be asked to disclose their holdings, according to investment researcher Zacks, which requires the Basel Committee on Banking Supervision, which sets global norms for traditional lenders.
The committee is planning to implement Disclosure requirements for banks regarding their crypto exposures and risks in the wake of turmoil involving exchanges like FTX and regional bank failures like Silicon Valley Bank in California.
The U.S. Commodity Futures Trading Commission said the co-founder of the bankrupt Crypto lender Voyager Digital, Stephen Ehrlich, broke derivatives regulations, Bloomberg reported.
CFTC enforcement division agents have recommended that Ehrlich be charged with misleading customers about the safety of their assets, a possibility that will be decided by commissioners within days.
The Block, citing security analysts PeckShield, reported that Stars Arena, an Avalanche-based decentralized social media protocol, was drained of about $2.9 million.
Stars Arena said in a statement on X: DL News that Stars Arena has patched a smart contract vulnerability that allowed hackers to drain $25,000.
Hong Kong Secretary for Financial Services and the Treasury Christopher Hui said retail trading of stablecoins would not be allowed until next year, after a comprehensive regulatory policy is introduced, Coin Edition reported, citing local Chinese media Ming Pao.
Hui said regulations for stablecoins, such as Tether and Dollar Coin, have not yet been completed.
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