Cofounder and former CEO of collapsed crypto exchange, FTX, Sam Bankman-Fried is expected to enter a plea next week to criminal charges, according to court filing. This follows the decision of his associates to take a guilty plea to the criminal charges leveled against them last week.

Bankman-Fried is facing criminal charges for defrauding investors billions of dollars, resulting in the implosion of FTX. His arraignment hearing, where he is expected to either plead guilty or defend the charges, is scheduled for January 3, 2023, before U.S. District Judge Lewis Kaplan in Manhattan federal court.

Kaplan was assigned to the case on Tuesday, after the original judge recused herself because her husband’s law firm had advised FTX before its collapse.

Bankman-Fried is facing allegations of perpetrating “fraud of epic proportions,” for years. Prosecutors said he used customer deposits to support his Alameda Research hedge fund firm, buy real estate and make political contributions.

In addition, he is charged with two counts of wire fraud and six counts of conspiracy, including laundering money and committing campaign finance violations. If convicted, Bankman-Fried is expected to spend decades in prison.

On Wednesday, the SEC filed fresh fraud charges against Bankman-Fried. The fresh charges say Sam and FTX diverted $200 million in customer funds to its venture fund, investing $100 million into a fintech company called Dave.

Before his arrest on Dec. 12, Bankman-Fried had denied engaging in any sort of fraud whilst the CEO of FTX, blaming the exchange’s collapse on oversight and negligence. But his claims, which were beginning to win him sympathy from many, were defeated after two of his associates – former Alameda chief executive Caroline Ellison and former FTX chief technology officer Gary Wang, pleaded guilty over their roles in FTX’s collapse and agreed to cooperate with prosecutors.

The exchange’s new chief executive, John Ray, had earlier raised alarm about irregularities he found in the company’s operation. He told Congress on Dec. 13 that FXT lost $8 billion of customer money while being run by “grossly inexperienced, non-sophisticated individuals.”

Bankman-Fried was accused of moving $10 billion from FTX to Alameda Research then headed by Ellison, whom he was briefly in a romantic relationship with.

FTX filed for bankruptcy on November 11 after Bankman-Fried failed to secure a bailout fund for the exchange, triggering concern and investigation into what happened to the billions of dollars belonging to the company’s investors.

Following his release on Dec. 22 on a $250 million bond, Bankman-Fried was ordered to stay with his parents in Palo Alto, California, where they teach at Stanford Law School. He was ordered not to leave the house and has been placed under electronic surveillance.

Bankman-Fried is expected to enter the guilty plea next week as incriminating evidence unfolds about what transpired in FTX – all the more so as the testimony of his former associates is expected to harm his chances of defense.

The Senate on Wednesday unanimously asked the Central Bank of Nigeria (CBN) to extend the deadline of the controversial deadline for phasing out the old naira notes to June 30, 2023.

Both the Senate and the House of Representatives had expressed concern over the decision of the CBN to fix the deadline for the return of old currency to January 31, 2023, following the redesigning of the N200, N500 and N1,000 banknotes.

But in a fresh hearing on the matter, Senator Ali Ndume, APC, Borno South, who had moved a motion titled: “Urgent need to extend the withdrawal of old currency from circulation,” faulted the timing of the policy. He said the new naira notes have failed to meet the needed degree of circulation in urban areas, not to talk of rural areas.

The impact of the redesigned naira notes on SMEs, particularly in rural areas, has been at the center of the argument that its deadline needs to be extended.  But the CBN had last month assured the public that it has put measures in place to help businesses and people in rural areas to meet the deadline.

Ndume said the stipulated deadline of January 31, 2023 is short, given that banks have since 15th Dec. opened their vaults to customers and depositors and are yet to push enough of the redesigned notes into circulation.

“Aware that Some Nigerians are already envisaging rush and long queues in the banking hall across the country as a result of people trying to get access to the new naira note, which was unveiled last month by President Mohammad Buhari at a brief ceremony at the state house, Abuja.

“Aware also that  the old notes are expected to be in circulation alongside the new ones until January 31, 2023, when the old notes are expected to be phased out, it is expected that many Nigerian businesses would start to reject the old notes as soon as the banks start paying out the redesigned notes to customers.

“Observes that access to the new notes may be compounded by the recent circular by the CBN, which limits the amount of cash individuals and corporate entities could withdraw within a certain period of time.

“For instance, the CBN said individuals could only withdraw N100, 000 per week while corporate could only have access to N500, 000 per week through over-the-counter (OTC) transactions.

“Observes that access to large quantities of cash above the limit would attract processing fees of 5 per cent and 10 per cent for individuals and corporate entities respectively.

“Large withdrawals are also subjected to scrutiny by the regulator to determine the importance and usage of such cash; and convinced that if the withdrawal of old notes from circulation is not extended beyond 31st January many Nigerian will be thrown into hardship and to avoid a repeat of 1984 experience withdrawal of old notes,” Ndume said.

But the CBN had earlier this month, announced adjustment in its naira withdrawal policy that has equally stirred criticism.

In an updated circular dated December 21, 2022, and addressed to all regulated financial institutions, the apex bank adjusted over the counter and ATM bank withdrawal limits, originally fixed at N100,000, per week for individuals and N500,000 per week for corporate organization to N500,000 and N5 million respectively. The CBN said the upward review was carried out following the feedback it received from stakeholders.

The upward review of the withdrawal limit policy has been expected to help the banks to successfully meet the deadline set by the CBN to phase out the old naira notes.

This article talks about the shocking decline of popular coins like Terra Classic (LUNC) and Shiba Inu (SHIB), while a new token, Snowfall Protocol (SNW), gets financial support from investors and traders. Snowfall Protocol (SNW) has made a name for itself owing to its distinctive qualities and advantages over other protocols. Read ahead to know all about it.

Terra Classic (LUNC) unlikely to restore its previous values

Terra Classic (LUNC) is a blockchain that utilizes fiat-pegged stablecoins to stabilize global payment operations. Quickly gaining popularity after its launch, Terra Classic (LUNC) is now in the news for all the wrong reasons, as it suffered from one of the biggest crashes this year in crypto history. Terra Classic (LUNC), which reached its all-time high of $119 this year, in April, is now only $0.0001. This enormous crash of 99.9% in Terra Classic (LUNC) is linked to its stablecoin UST, which depegged in May and collapsed. This collapse has directly affected Terra Classic (LUNC), and investors are very apprehensive about the future. The founder of Terra Classic (LUNC), Do Kwon, is currently suspected to be on the run, which has negatively affected the token as its price reaches record lows. The 2023 predictions for Terra Classic (LUNC) say that it would reach a maximum price of $0.0009, which is not a good look for investors hoping to invest in Terra Classic (LUNC).

Shiba Inu (SHIB) falls 88.5% in value

Shiba Inu (SHIB) is a meme coin built on Ethereum that considers itself the ‘Dogecoin Killer.’ Starting as a parody of Dogecoin, Shiba Inu (SHIB) was also quick to gain popularity and even surpassed Dogecoin for a brief period in 2021. However, the current performance of Shiba Inu (SHIB) has been the cause of immense worry for its investors. The burn rate of Shiba Inu (SHIB) has dropped by 99%, as only 352 million Shiba Inu (SHIB), worth $3,000, were burned this December compared to the impressive 31 billion SHIB, worth $260,000, burnt in May. The price of Shiba Inu (SHIB) is $0.000008, a fall of 88.5% from its all-time high of $0.00007. The 2023 predictions for Shiba Inu (SHIB) make it all the more clear that it is hardly a worthy investment, as the best for the next year is forecasted to be just $0.000001. Thus, it is ideal to think twice before investing in Shiba Inu (SHIB).

Snowfall Protocol (SNW) offers inventive features

Snowfall Protocol (SNW) offers a sharp contrast to the situations of Terra Classic (LUNC) and Shiba Inu (SHIB). One of the key factors contributing to Snowfall Protocol’s (SNW) enormous success and popularity is its novel features. Snowfall Protocol’s (SNW) ground-breaking interoperability design spares clients from having to pay huge costs for asset transfers through third-party middlemen. When transferring digital assets from one blockchain to another, Snowfall Protocol (SNW) also gets rid of incompatibilities.

Users may participate in, and gain from any blockchain project of their choice with the aid of Snowfall Protocol (SNW). The price of Snowfall Protocol (SNW) has risen to $0.14, luring both traders and investors. Snowfall Protocol (SNW) presale is currently in its third and final round, and the project has been a rare bright spot in a mostly dark year for cryptocurrencies. Given that the price of Snowfall Protocol (SNW) is anticipated to increase by more than 5000% over the next few days and reach new heights, this is a terrific opportunity for investors.

Thus, Snowfall Protocol (SNW) is the best option if you want to get the most for your money!

get in while you can and invest in Snowfall Protocol (SNW) today!!!

Presale: https://presale.snowfallprotocol.io

Website: https://snowfallprotocol.io

Telegram: https://t.me/snowfallcoin

Twitter: https://twitter.com/snowfallcoin

Solana (SOL) – a fascinating hybrid solution

• Rank: 16^th
• Capitalization: $7.3 billion
• Price: $13.7
• Volume: $100.8 million

The first of three tokens that we’ll discuss is Solana and its native token SOL. Solana is recognized as an adaptable, open-source platform for decentralized finance services. The project is built on blockchain’s permissionless principles. The idea behind Solana was conceived in 2017, but the cryptocurrency wasn’t launched until three years later. Solana Foundation, which helms the platform, is based in Geneva, Switzerland. The Solana Foundation created Solana for decentralized applications (dApps). Scalability is one of Solana’s attributes, enhanced through a merger of old proof-of-stake (PoS) and new proof-of-history (PoH) consensus mechanisms. The innovative hybrid is Solana’s unique selling product, allowing it to attract the attention of individuals and institutions.

The key person behind Solana and the Foundation is Anatoly Yakovenko. A former Qualcomm and Dropbox employee, Yakovenko partnered with his colleague Greg Fitzgerald and established Solana Labs. The duo’s activity eventually led them to the Solana protocol and token, released to the public in 2020. The hybrid model we mentioned above is a major reason for Solana’s undoubted success. Yakovenko combined the consensus mechanisms because he knew it would augment usability and scalability. In addition, Solana is synonymous with short processing periods, and validation times are reduced.

Theta Network (THETA) – a versatile video streaming platform

• Rank: 49^th
• Capitalization: $857.8 million
• Price: $0.858
• Volume: $10.6 million

The penultimate platform under consideration is Theta Network, a video streaming, blockchain-based network. The Theta mainnet was released in 2019 and allows users to share bandwidth and resources through a peer-to-peer initiative. The native token is THETA. The project is backed by the biggest names, including Google, Binance, Sony Europe, and Samsung, all of which serve as Enterprise validators. According to its developers, Theta Network is a game changer for the video streaming industry.

Gone are the days of lackluster infrastructures, centralization, and unreasonable costs; Theta Network will provide a seamless and efficient experience for the end user and allow content creators to earn more. In the future, Theta Network plans to grow with strategic partnerships with Samsung VR, Shout! Factory, Play Labs, Pandora.tv, and others. THETA’s founders include illustrious names. The project was founded by Mitch Liu and Jieyi Long in 2018, and both have considerable experience in the video and gaming industries. The duo is guided by Steve Chen, the co-creator of YouTube, and Justin Kan, the co-founder of Twitch.

Big Eyes Coin (BIG) – promise is an understatement

Solana and Theta Network are prime examples of what can be accomplished when you assemble a great team. The same may be said for Big Eyes Coin (BIG). The only difference is that BIG is awaiting its entrance into the market since it’s currently in its presale stage. One reason we’re confident that Big Eyes Coin will make a splash is because of its link to decentralized finance.

DeFi is one of the cornerstones of the cryptocurrency industry at present, which naturally works in BIG’s favor. Decentralized finance is here to stay, which means so is Big Eyes Coin. Secondly, the project is a community token: BIG will apportion a fraction of each transaction and deposit the amount in a charity wallet. The funds will be used for conserving the world’s oceans.

Tokenomics

1. Total: 200 billion
2. Presale: 140 billion
3. Exchanges: 40 billion
4. Charity: 10 billion
5. Marketing: 10 billion

How to buy

The only thing stopping you from getting Big Eyes Coin is that you probably don’t have MetaMask on your device. Once you download the app, you can purchase BIG with ETH tokens or by card.

Use the code BIGG1077 to get bonus tokens with your Big Eyes purchase

For more information on Big Eyes (BIG), you can visit the following links:

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL