According to Flightradar24’s official Twitter account, the most tracked flight at 3:33 a.m. on Nov. 12, 2022, was Sam Bankman-Fried’s (SBF) private jet flying from the Bahamas to Argentina. While the flight track doesn’t mean SBF took the flight, a number of people suspected someone from SBF’s inner circle did fly out of the Bahamas. The former FTX CEO, however, texted Reuters after the flight and told the news outlet he did not leave the Bahamas.
The former FTX CEO and frontman, Sam Bankman-Fried (SBF), has been under the spotlight all week after his exchange, which was once worth $32 billion, shuddered and filed for bankruptcy protection.
Following the bankruptcy registration in Delaware, FTX US users started to complain about withdrawal issues. Then reports on Nov. 12, at around 3:00 a.m. (ET) indicated that FTX wallets may have been hacked. Some of the funds were sent to Kraken and Kraken’s chief security officer, Nick Percoco, told the public they have identified the user.
Interestingly, roughly around the same time, people started to notice FTX wallets were getting drained, Flightradar24’s official Twitter account tweeted about the most tracked flight at around 3:33 a.m. on Nov. 12, 2022.
“Most tracked flight right now,” Flightradar24 wrote. “According to tweets, the founder and former CEO of [FTX] is en route to Argentina after the FTX collapse earlier this week.”
Some observers of the Flightradar24 tweet, like the popular whistleblower Fatman, did not like Flightradar24’s statement. “Shouldn’t be tweeting this. Zero confirmation or evidence of this being SBF,” Fatman replied to Flightradar24’s tweet.
While the radar report does show SBF’s private jet did embark to Argentina, there’s no way of telling who was on the trip without the official flight logs. Following the speculation, the news publication Reuters published an article that said SBF did not leave the Bahamas.
“When asked by Reuters whether he had flown to Argentina, Bankman-Fried responded in a text message: ‘Nope.’ He told Reuters he was in the Bahamas,” the article’s author explained.
What do you think about the tweet from Flightradar24 and the following report from Reuters that says SBF claims he is still in the Bahamas? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament
A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.
According to Flightradar24’s official Twitter account, the most tracked flight at 3:33 a.m. on Nov. 12, 2022, was Sam Bankman-Fried’s (SBF) private jet flying from the Bahamas to Argentina. While the flight track doesn’t mean SBF took the flight, a number of people suspected someone from SBF’s inner circle did fly out of the Bahamas. The former FTX CEO, however, texted Reuters after the flight and told the news outlet he did not leave the Bahamas.
The former FTX CEO and frontman, Sam Bankman-Fried (SBF), has been under the spotlight all week after his exchange, which was once worth $32 billion, shuddered and filed for bankruptcy protection.
Following the bankruptcy registration in Delaware, FTX US users started to complain about withdrawal issues. Then reports on Nov. 12, at around 3:00 a.m. (ET) indicated that FTX wallets may have been hacked. Some of the funds were sent to Kraken and Kraken’s chief security officer, Nick Percoco, told the public they have identified the user.
Interestingly, roughly around the same time, people started to notice FTX wallets were getting drained, Flightradar24’s official Twitter account tweeted about the most tracked flight at around 3:33 a.m. on Nov. 12, 2022.
“Most tracked flight right now,” Flightradar24 wrote. “According to tweets, the founder and former CEO of [FTX] is en route to Argentina after the FTX collapse earlier this week.”
Some observers of the Flightradar24 tweet, like the popular whistleblower Fatman, did not like Flightradar24’s statement. “Shouldn’t be tweeting this. Zero confirmation or evidence of this being SBF,” Fatman replied to Flightradar24’s tweet.
While the radar report does show SBF’s private jet did embark to Argentina, there’s no way of telling who was on the trip without the official flight logs. Following the speculation, the news publication Reuters published an article that said SBF did not leave the Bahamas.
“When asked by Reuters whether he had flown to Argentina, Bankman-Fried responded in a text message: ‘Nope.’ He told Reuters he was in the Bahamas,” the article’s author explained.
What do you think about the tweet from Flightradar24 and the following report from Reuters that says SBF claims he is still in the Bahamas? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
When it was first discovered that FTX might be insolvent, a large slew of crypto exchange executives said that they aimed to provide proof-of-reserves audits. While exchanges like Binance and Crypto.com have provided wallet addresses tied to company wallets, blockchain analytics firm Nansen has detailed the company is in the midst of creating a display of crypto exchange proof-of-reserves.
Three days ago, amid the chaos surrounding FTX, a group of crypto exchange executives detailed that they planned to provide proof-of-reserves via a Merkle tree and full audits. Following the discussions, Binance disclosed the company’s hot and cold wallet addresses and Crypto.com’s CEO Kris Marszalek shared his firm’s addresses.
The blockchain analytics firm Nansen has gotten involved and the company is building a proof-of-reserves dashboard to display exchange reserves. “We are working with exchanges to display proof-of-reserves on [Nansen] for everyone to track their token holdings and transactions,” Nansen detailed on Nov. 11.
Nansen shared a current list of exchange portfolios and said that it would update the thread when more exchanges joined. So far, the thread includes exchanges such as Binance, Crypto.com, Okx, Kucoin, and Deribit. Bitfinex CTO Paolo Ardoino has also shared Bitfinex’s reserve list as well, alongside a Github repo that hosts the trading platform’s addresses.
“Bitfinex also developed in the past an open-source library called Antani,” Ardoino added. “Proof of Solvency, Custody and Off-chain Delegated Proof of Vote. We plan to revive it and have a way for users to cryptographically verify their balances respecting their privacy.”
In addition to Crypto.com, Okx, Kucoin, Binance, Bitfinex, and Deribit, the crypto exchange Bybit promises to release proof-of-reserves. Cake Defi has also provided a compiled list of reserves as well. Reports further note that Huobi and Poloniex have plans to share proof-of-reserves.
Exchanges listed on Nic Carter’s proof-of-reserves list or “Wall of Fame,” include Kraken, Bitmex, Nexo, Coinfloor, HBTC, Gate.io, and Ledn. Coinfloor, HBTC, Gate.io, and Ledn’s reserve assessments are older than Kraken and Bitmex’s. Nic Carter’s proof-of-reserves list says Nexo provides daily attestations.
What do you think about all the crypto exchanges providing proof-of-reserves lists and promising audits and attestations in the near future? Let us know your thoughts about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
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