Argentina Gleans Bitcoin Lessons from El Salvador amid Crypto Account Hacking Suspicions and FTX Investigation
Summary:
With Argentina’s government collaborating with El Salvador to learn from its Bitcoin adoption, speculation rises around the potential hacking of Caitlyn Jenner's X account following her promotion of memecoin "JENNER". Simultaneously, an investigation reveals that FTX’s bankruptcy lawyer was unaware of the crypto exchange’s financial crisis prior to its collapse.
Argentina's government has joined hands with El Salvador to learn from its pioneering venture into adopting Bitcoin and engaging in cryptocurrency dealings. At the same time, there's a rising suspicion around whether Caitlyn Jenner's X account had fallen victim to hackers after she posted about a memecoin dubbed "JENNER" on her social media. Concurrently, a separate evaluation revealed that the bankruptcy lawyer from FTX, the crypto exchange, was kept oblivious to the company's grim financial state before its untimely collapse.
Argentina's government aspires to study El Salvador's triumph with Bitcoin. It seeks to gain insights from El Salvador's ground-breaking experience with Bitcoin and other cryptocurrency operations. The Argentine National Securities Commission (CNV) recently met with the National Commission of Digital Assets (CNAD) of El Salvador to deliberate over cryptocurrency acceptance and regulation in both countries, as reported by CNV.
During the meeting held on May 23, numerous officials, including CNV president Roberto Silva, vice-president Patricia Boedo, and CNAD president Juan Carlos Reyes shared details about El Salvador's pioneering journey as the first-ever country to declare Bitcoin as legal tender in September 2021.
Close to the end of 2023, Argentina's foreign affairs minister, Diana Mondino, expressed the government's plan to legalize Bitcoin and other cryptocurrencies under certain conditions.
The trend of hacking celebrity X accounts is gaining momentum in the crypto industry. Influencers and notable personalities are suspected of falling victim to hacking of their X accounts, which were found promoting various memecoins.
GCR, a pseudonymous cryptocurrency investor, confirmed the hacking of their X account. Simultaneously, other celebrities like American rapper Dimitri Leslie Roger, known as "Rich The Kid," and American media personality Caitlyn Jenner were suspected of promoting new tokens like "RICH" and "JENNER" via their X accounts.
An independent examination of the FTX bankruptcy lawyer from Sullivan & Cromwell confirmed that the firm was oblivious to the significant fraud at the now-collapsed exchange. Robert Cleary, a former U.S. prosecutor, stated that Sullivan & Cromwell made inaccurate statements about FTX as they were intentionally misled by the exchange.
Despite the backlash from FTX creditors, Sullivan & Cromwell remained confident about their work for FTX during the Chapter 11 cases. The potential bias in the case due to the firm's past affiliations with FTX was dismissed by the firm, welcoming the examiner's findings that refuted baseless assertions about their work.
Further reporting by Geraint Price, Sam Bourgi, and Felix Ng.
Published At
5/27/2024 3:43:38 PM
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