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FTX Founder Sam Bankman-Fried Found Guilty in Landmark Trial

FTX founder Sam Bankman-Fried has been found guilty on all charges in the first of two criminal trials against him. Prosecutors alleged that he misappropriated billions from FTX customer deposits and schemed to mislead investors. The charges could lead to a maximum sentence of 110 years behind bars.

Bankman-Fried's defense expressed disappointment in the verdict and intends to appeal. The case has far-reaching implications for the cryptocurrency industry, as he was a prominent figure with an estimated net worth of $26 billion. The second trial is set to commence in March, and Bankman-Fried has pleaded not guilty to all charges.

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The Birth of Bitcoin: From 9 Pages to a Global Revolution

Last month marks a significant milestone - the 15th anniversary of Satoshi Nakamoto's groundbreaking white paper, "Bitcoin: A Peer-to-Peer Electronic Cash System." Despite its modest beginning, this document laid the foundation for a revolution in finance and technology. Here are 15 intriguing facts about the white paper that you may not know:

• The document is only 9 pages, shorter than the Magna Carta.

• The true identity of Satoshi Nakamoto remains a mystery.

• The white paper faced criticism upon release.

• The word "blockchain" is absent from the document.

• Satoshi wrote code before finalizing the paper.

• The most common word in the paper is "block."

• 10 people are cited in the white paper.

• Parts of the paper no longer align with current Bitcoin development.

• The white paper is freely hosted on various websites worldwide.

• Unfortunately, it's no longer accessible in the UK.

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SEC Subpoenas Paypal Over it’s USD Stablecoin

PayPal, the global payments giant, has received a subpoena from the U.S. Securities and Exchange Commission (SEC) concerning its USD stablecoin, PayPal USD (PYUSD). The subpoena, disclosed in PayPal's quarterly earnings report, requests document production, and the company is actively cooperating with the SEC regarding this matter.

PayPal introduced its U.S. dollar-pegged stablecoin in August, marking a significant step into the world of digital currencies. This move has raised concerns among U.S. regulators who fear that a major tech platform-backed token could potentially impact financial stability.

The development also has implications for the ongoing debate over crypto legislation in Congress.

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