Altcoin News Official TheBitTimes.com

Mike Novogratz’s Galaxy Digital has hired BlockFi founder Zac Prince as a managing director. For some reason, Novogratz thinks Prince is an excellent candidate to assist with developing Galaxy’s services. Prince was the CEO of failed digital asset lending company BlockFi. There, he nurtured close relationships with Sam Bankman-Fried’s FTX and Alameda Research. Prince’s company, which once advertised high-interest payouts to customers who lent it bitcoin, ether, and stablecoins, eventually collapsed as the world learned about BlockFi’s false and misleading statements about the safety of those assets. According to the Securities and Exchange Commission, BlockFi lied about its collateral practices from March 4, 2019, to August 31, 2021, and agreed to pay $100 million in penalties for that and other misdeeds. FTX and BlockFi bankruptcies spook Visa and Mastercard Read more: Unredacted document shows $1.2B in BlockFi assets linked to SBF Zac Prince returns to crypto ...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Few events have stirred as much attention as the Sam Bankman-Fried trial. As allegations of fraud and money laundering surface within FTX’s affiliated Alameda Research, the crypto community is reminded of the need for robust crisis management. Crypto projects operate in a perfect storm of volatility, regulation, hacks, and technical complexity. Any misstep can snowball into an existential crisis in an instant.  You might also like: Crypto market on Christmas: historical trends and what to expect  Major crypto crisis categories Crises in crypto aren’t limited to legal battles. The threats are multifaceted, from unauthorized data access and technical code vulnerabilities to malicious hacks. Add to that the ever-changing regulatory environment, and projects find themselves navigating a maze of potential pit...