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Now FTX thinks it’s been hacked

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FTX has filed for bankruptcy protection after abnormal transactions caused hundreds of millions of dollars worth of crypto assets to be withdrawn.

This is the latest blow for FTX, which has been marred by controversy in recent months.

On Saturday, the official Twitter account of FTX retweeted comments from Ryne Miller, the company’s general counsel in the US, in which he said it was “investigating abnormalities with wallet movements related to consolidation of FTX balances across exchanges”. Outflows were estimated to be at least $266mn over the past 24 hours

FTX has been embroiled in controversy in recent months, with some calling into question the exchange’s business practices. In May, FTX was accused of market manipulation after it was revealed that the exchange had been offering “margin trading” to its users.

Margin trading allows users to trade with borrowed funds, and it can be used to artificially inflate prices.

Then, in June, FTX was again accused of market manipulation after it was revealed that the exchange had been offering ” futures contracts” to its users. Futures contracts are agreements to buy or sell an asset at a future date, and they can be used to speculate on the price of an asset.

Now, the potential hack is the latest blow for FTX. The exchange has lost hundreds of millions of dollars worth of assets, and it is currently under investigation by the US Securities and Exchange Commission (SEC). It remains to be seen how this will all impact the future of FTX.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Who killed the crypto boom?

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It has been a shocking year for crypto investors, the year that crypto came crashing down to earth.

What began as a trickle became a turning point for crypto, losing their luster and exposed as a fringe product that most sensitive, experienced investors approached with skepticism.

So how did crypto climb so high under the cover of the pandemic?

By 2022, the ads were everywhere. Crypto was taking over the superbowl, and global sport.

Hollywood’s biggest names were jumping on board, and suddenly the big banking firms were taking notice.

The tokens might have been virtual, but crypto was become a real threat, and of real interest to next gen investors. #crypto #ftx #bitcoin

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U.S. Judge dismisses Dfinity-Meta trademark case

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Meta has resolved a trademark lawsuit with Dfinity Foundation

 
Dfinity sued Meta over the infinity symbol logo that Meta adopted after changing its name from Facebook.

Dfinity alleged that the logo would cause confusion with Dfinity’s infinity-symbol trademarks.

The two parties have asked the San Francisco federal court to dismiss the case with prejudice.

Meta is still facing trademark lawsuits from Meta X and Metacapital over its name change. #Dfinity #Meta

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Elon Musk’s Tesla was blasted into space five years ago

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Musk’s Tesla is currently floating through the galaxy

Exactly five years ago,Elon Musk’s Tesla roadster was launched into space to travel on an endless joy ride through the cosmic wilderness.

And how’s this for a journey.

On its anniversary, estimates suggest the vehicle has completed three and one quarter loops around the sun and is sitting 326 kilometres from Earth.

It’s also logged up more than 4 billion kilometres, mostly travelling through a barren vacuum.

In space terms, it did get close to Mars at one point – passing within 8 million ks of the planet – or about 20 times the distance between the Earth and the moon.

Although, it’s difficult to say where the vehicle is exactly with or whether it’s still even in one piece.

It is possible the roadster may have been hit by a meteoroid or eroded by radiation. #trending #fetured

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