Episode Details

09th Oct: Crypto & Coffee at 8

👀 Trial of the Century: SBF ❗Binance XRP holding 🔥 Iris Energy mining ⚡ Bank of Korea and Bank for International Settlements — BIS CBDC

🚨 Legend Sam Bankman-Fried former CEO of FTX trial is still ongoing. Sam bank man has pleaded not guilty to all the 13 criminal charges filed against him. In his trial in October, He was charged with 7 of them

- Conspiracy to commit wire fraud on customers of FTX

- Wire fraud on customers of FTX

- Conspiracy to commit wire fraud on lenders to Alameda Research

- Wire fraud on lenders to Alameda Research

- Conspiracy to commit fraud on customers of FTX in connection with the purchase and sale of derivatives

- Conspiracy to commit securities fraud on investors in FTX

- Conspiracy to commit money laundering

🔴 CoinDesk has an excellent summer of the 1st week of trial here https://tinyurl.com/yc7bh9x2 Check out Blockchain DXB Crypto & Coffee at 8 we share our commentary on it. Also, see slides 1 & 2 for a global snapshot of the crypto market.

📊 According to Binance’s Proof of Reserves report, the exchange holds a staggering amount of XRP to cover 104.15% of customer balances. Official source here https://tinyurl.com/z6xvm6by

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Binance currently has over 2.738 billion XRP tokens worth more than $1.35 billion against customer deposits of 2.629 billion XRP tokens. This marks a rise of almost 50 million XRP in its reserve as compared to the previous month’s total of 2,686,407,725 XRP

🏦 The Bank of Korea and the Bank for International Settlements — BIS (BIS) are launching a pilot program to test a Korean wholesale central bank digital currency (CBDC). This CBDC will facilitate interbank transactions and the issuance of CBDC-backed digital currencies, which can be fractionally backed as needed. Official info here https://tinyurl.com/f8tbkhuj They are focusing on Tokenization and Wholesale CBDC

🚨 Iris Energy boosts bitcoin mining capacity by 25%. They have agreed to buy 7K Bitmain S21 mining machines, resulting in a 25% increase in its self-mining bitcoin. More info via https://tinyurl.com/3wjf448x

🚨 The company said Thursday it mined 390 bitcoins (BTC-USD) in September, down from the 410 produced in the prior month. Its average operating hashrate came in at 5,554 petahashes per second (PH/s) vs. 5,493 in August.

🟠 Two UAE news: (See slides)

⚡ South African Crypto Exchange VALR Receives ‘Initial Approval’ From Dubai Virtual Assets Regulator

⚡ University of Birmingham Dubai gathers experts to explore generative AI’s impact on education

For slides click he