The biggest news in the cryptoverse for Dec. 7 includes U.S. banking committee arguing SBF ‘must answer ‘ for FTX, Do Kwon questions SBF involvement in Terra collapse, Celsius gives hopes of withdrawals, EthereumMAX lawsuit thrown out, and more.
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The US senate banking committee in a Dec. 7 letter to Sam Bankman-Fried said he must answer for the failure of his crypto firms in a hearing scheduled for Dec. 14.
The committee chairman Sherrod Brown wrote that if SBF failed to honor the invitation, he would be issued a subpoena.
Senator Brown highlighted that SBF’s position at FTX Trading Ltd and Alameda Research makes it necessary for him to testify and answer for the failure of both companies.
Terra founder Do Kwon questioned if Genesis Trading provided $1 billion UST to Sam Bankman-Fried and Alameda as “ammo for a peg attack.”
In a Dec. 8 twitter thread, Kwon asked whether Genesis Trading bought $1 billion UST from Luna Foundation Guard because it had an “interest to participate in the Terra DeFi ecosystem.” However, he believes that the lender gave these USTs to Alameda to fund the peg attack.
The Republic of El Salvador has announced that it has completed the second repurchase of its sovereign bonds maturing in 2023 and 2025.
According to a press release shared by President Nayib Bukele, the country purchased $74 million worth of government bonds on Dec. 8.
Celsius discussed the reopening of withdrawals for certain customers during its latest hearing on Dec. 7.
The Court authorized the return of “pure” and “transferred” Custody Account assets below a specific legal threshold, as well as digital assets not supported on the platform.
USDC stablecoin could get indirect access to the Federal Reserve’s risk-free liability, as its partner BlackRock is set to apply for the Fed’s reserve repo (RRP) program.
Circle CFO Jeremy Fox-Geen recently announced that the stablecoin issuer had started investing in the Circle…
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