SBF to return to US; Core Scientific files for bankruptcy; Deribit transfers ETH to Alameda

admin December 21, 2022

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The biggest news in the Cryptoverse on December 15th included the approval of SBF’s delivery to the US, Deribit transferring 10,000 ETH to Alameda, the Core Scientific files for Chapter 11, and more.

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SBF to return to US soon in hopes of securing bail

FTX founder Sam Bankman-Fried will be handed over to US authorities today, December 21st. report He announced that he had agreed to the handover. According to an affidavit, FTX’s former CEO agreed to the handover, in part to make his customers whole.

SBF’s attorney, Jerone Roberts, has demanded immediate extradition. bloombergHe plans to “accompany FBI agents in a non-commercial aircraft” back to the United States. Bloomberg also released a video of SBF arriving at a Bahamas courthouse accompanied by his FBI agents.

FTX Creditors Seek Priority Payments of $1.6 Billion Locked in Custodial Wallets

A group of FTX customers seeking expedited repayment of about $1.6 billion locked in the custody wallets of the bankrupt FTX exchange, according to the Financial Times.

Eversheds Sutherland Attorney Erin Broderick said:

“If the asset belongs to the customer, there is no line. It is just their asset.”

Broderick added that FTX’s terms of service support custody clients’ access to trapped funds.

Evershed Sutherland said it will proceed with the legal process from January 2023 and hopes it will go smoothly.

Deribit has sent 10,000 ETH to Alameda addresses in the last 10 days

Data from the Etherscan are stored at addresses labeled Deribit 9. forwarded A total of 10,000 ETH to addresses associated with Alameda Research. This address held a total of 12,812.6 ETH at the time of writing.

The 10,000 ETH was split into 5 transactions of 2,000 ETH and the first transaction was sent on December 10th.Currently, Deribit’s address is hold About 3,473 ETH and just over 766,351 USDC.

The nature of Deribit’s transfer to the Alameda-linked address is still unclear. The Panama-based exchange has not yet commented on the transfer.

Bitcoin miner Core Scientific files for bankruptcy, debt tops $1 billion

Listed Cryptocurrency Miner Core Scientific submitted for Chapter 11 bankruptcy protection in the Southern District of Texas Bankruptcy Court on Dec. 21.

According to court documents, miners have debts of between $1 billion and $10 billion. With over 1,000 creditors, his largest unsecured debt is with B. Riley Financial, a bankrupt company that owes him $42.36 million to investment banks. increase.

Core Scientific joins the list of cryptocurrency miners who have surrendered during the current bear market. In September, Compute North filed for bankruptcy.

Dogecoin Continues Fall as Musk Confirms Twitter CEO Steps Down

Dogecoin is one of the worst performers in the past 24 hours after confirming that Elon Musk is stepping down as Twitter CEO.

DOGE hit a high of $0.11172 on December 5th, but then increased selling pressure led to a 37% loss before bottoming out at $0.07003 on December 19th.

Musk’s favorite cryptocurrency, Dogecoin, sparked a buying frenzy after rumors that it would benefit from its integration with Twitter.

It’s been about seven weeks since Musk took office, and no DOGE integration has been confirmed. Moreover, it is unclear whether Musk’s resignation will help or hinder such a proposal.

research highlights

Study: BTC is now cheaper than all maintenance costs to mine BTC

According to the difficulty regression model, the cost of Bitcoin (BTC) is now cheaper than the cost of mining 1 Bitcoin.

According to data obtained from Glassnode, the current cost to mine one Bitcoin is $18.8K, while the cost per Bitcoin is $16,5771.8.

Bitcoin hashrate measures the amount of processing and computational power that miners give to the Bitcoin network. According to Trading View, Bitcoin’s hashrate is currently at 246.062 EH/s.

Many bitcoin mining businesses could be forced out of business if the price of bitcoin does not rise or fall.

Around Cryptoverse

Justin Sun Claims Hong Kong Is a Crypto Policy Testbed for China

Tron founder Justin Sun told Bloomberg that China is watching the impact of Hong Kong’s crypto regulation. On Bloomberg TV, Sun commented:

“Now they are using Hong Kong as an experimental base, so once they adopt the cryptocurrency, they will be able to see all the feedback and all the results. I look forward to seeing the results of the

Mainland China is currently largely closed to the crypto industry, but Sun predicts that it will “open up the entirety of China’s crypto policy.”