Daily Archives: May 18, 2022, 5:37 pm

‘Pharma bro’ Martin Shkreli released from prison, sent to halfway house

In a statement, the U.S. Bureau of Prisons said Shkreli had been transferred Wednesday from a federal correctional facility in Pennsylvania to a “community confinement” program which is the equivalent of a halfway house. It said his projected release date from federal custody is Sept. 14. In a Facebook post Wednesday, Shkreli, who became known as “pharma bro” for taking…

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Galaxy CEO Mike Novogratz Preaches ‘Humility’ Expresses Confidence In Crypto’s Future Despite LUNA/TerraUSD Crash

“There is no good news in what happened in markets or to the Terra ecosystem. In Luna and UST alone, $40bn of market value was destroyed in a very short amount of time. Both large and small investors saw profits and wealth vanish. The collapse dented confidence in crypto and DeFi,” said Novogratz in a letter posted on the Galaxy…

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SEC Chairman Gary Gensler To Visit Appropriations Subcommittee To Discuss Budget: “The Gold Standard For Capital Markets” – Crowdfund Insider

Maintaining the gold standard comes with a cost and the SEC is submitting a budget request for operations of $2.149 billion, an 8 percent increase over FY 2022. Gensler believes this is no time to “scrimp” on resources as the complexity of markets is growing – not receding. Source: SEC Chairman Gary Gensler To Visit Appropriations Subcommittee To Discuss Budget:…

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Disgraced hedge fund tycoon Phil Falcone raising money for crypto TV network

According to people familiar with Falcone’s pitch, the Minnesota native believes the world needs a 24-hour network exclusively devoted to covering cryptocurrencies, NFTs, and Web3 — and he wants to be the one to make it happen. The nascent network’s website is scant on details. The only description of the service says it is “Dedicated to the digital space, Blockchain.TV…

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How a Trash-Talking Crypto Bro Caused a $40 Billion Crash – The New York Times

Mr. Kwon dismissed concerns with a taunt: “I don’t debate the poor.” But last week, Luna and another currency that Mr. Kwon developed, TerraUSD, suffered a spectacular collapse. Their meltdowns had a domino effect on the rest of the cryptocurrency market, tanking the price of Bitcoin and accelerating the loss of $300 billion in value across the crypto economy. This…

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