Crypto Market Overview February 6th | Dex-Trade

FTX Requires Politicians to Return Donations from SBF

The media repeatedly reported that Sam Bankman-Fried (SBF), prior to the FTX bankruptcy, massively sponsored US politicians in the form of tens of millions in campaign donations before his FTX empire collapsed last year. The new management of the crypto exchange wants to return this money. On Sunday, FTX Group officials said they were sending out “confidential letters” en masse to politicians and other SBF beneficiaries, his deputies and their companies buying up the money before the end of the month. By the way, the full management of commerce allows an exception, except in cases of exclusion of debts and interest in the order of litigation. At this point, what is known is $93 million (according to some FTX representatives) in victim attacks by former management companies for a number of D.C. legislators and organizations across the political spectrum. every member of the third US Congress received “financial support” from the SBF. This may have been the largest campaign ever to survey history. Now that there are criminal cases identified in elevated FTX levels, many of the beneficiaries of the trading network are embracing a resuscitation of their prestige, showing up with equivalent donations to charity. But the debtors (current FTX management), now including an order to pay damages, have warned that such action “does not prevent the FTX Debtors from seeking recovery.”

XRP Buybacks Are a Scam: a Base from David Schwartz

Ripple CTO David Schwartz analyzed Jimmy Valle's XRP buyback offer and tweeted calling the scheme “an awful lot like a scam”: “I haven't looked at it very closely. But what I have seen looks an awful lot like a scam to me. If we've learned anything from 2012 and 2022 it's that anyone promising high returns with low risk is almost certainly going to rob you.” The insane offer was put forward by the managing director of Valhill Capital, Jimmy Valle, back in 2021. Its essence lies in the fact that in order for XRP to become the world's reserve currency, governments need to hold a large number of Ripple tokens, and this will one day lead to their repurchase from retailers. At the same time, Valle is offering a fixed XRP token buyback rate of $37,500 each, depending on the state of the global economy and the overall supply of XRP. The ridiculous XRP buyback theory recently became a hot topic in the community again after Valle's interview with Clever Hummingbird. At the same time, influencers from the leadership of XRP strongly criticized the sham deal, which is too tempting to be true. And lawyer John E. Deaton, who has been repeatedly cited as a lawyer working for Ripple in the case against the US Securities and Exchange Commission, emphasized that he had nothing to do with Valle's offer to buy XRP.

4.5 Years for Crypto Scam: Oxford Student Got a 'Final Rich'

Dutchman Waibo Wiersma, 40, who attended St. Cross College, Oxford, has been sentenced to 54 months in prison for stealing £2,156,000 (over $2.6) using a cryptocurrency scheme. British detectives linked the scam to a man who used the pseudonym Norbert van den Berg on his malicious website and in university coursework. It is known that the attacker began to carry out fraudulent activities with cryptocurrency while studying at the Internet Institute of St. Cross College. He created a website under an assumed name that generated “seeds” (passwords that users thought were not compromised). They were required to use the MIOTA cryptocurrency, which has a market capitalization of over $620 million. However, malicious code was attached to the seeds, which allowed Wiersma to access clients' assets. He began to steal funds and transferred them to his accounts. And in January 2018, the criminal converted the stolen MIOTA tokens into Monero (XMR) on the Bitfinex crypto exchange. It is noteworthy that the fraudster's actions aroused suspicion on the trading platform, and his accounts were frozen. Then he decided to use Binance, but he was blocked there too.