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<p>FTX Bankruptcy</p>
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(Copyright 2022 The Associated Press. All rights reserved.)

The US Department of Justice issued a vague statement on Wednesday that it would “announce a significant cryptocurrency implementing measure”, and noting that US Treasury Department would also make his own statement.

“The U.S. Treasury Department will also announce action in this space,” the statement said.

U.S. officials from each agency will deliver their remarks around 12 p.m. in Washington DC, according to the statement.

We don’t know what the DOJ and the Treasury Department mean by “enforcement action,” but the announcement comes at a time when former FTX crypto exchange CEO Sam Bankman Fried faces charges of wire fraud, securities fraud and conspiracy.

His company – long considered one of the largest crypto exchanges alongside Binance – has declared bankruptcy after allegedly using – and losing – client funds as investment capital. Investigators believe FTX lost nearly $8 billion of its clients’ money before filing for bankruptcy.


Crypto exchange Binance calls for flood of ‘hi’ emojis as DOJ announces crypto action

Binance, the world’s largest crypto exchange, posted a bizarre tweet on Wednesday saying that today “feels like a day to attempt a world record,” before asking followers to leave “greeting” emojis in comments.

The post was released around the same time the DOJ announced that it plans to announce major crypto enforcement action at a press conference this afternoon.

Graig GraziosiJanuary 18, 2023 4:55 p.m.


Economist ‘Dr Doom’ Says ‘90% of Crypto is a Scam’ in Davos

Dr Nouriel Roubini – sometimes referred to as “Dr Doom” for his grim economic forecasts – said “literally 90% of crypto is a scam” during the World Economic Forum in Davos on Wednesday.

“FTX and SBF are not an exception – they are a rule,” he said during a Yahoo finance an event.

He then predicted an upcoming bust.

“Literally, 90% of crypto is a scam. Criminal activity,” he said. “A real bubble Ponzi scheme that goes bankrupt.”

Graig GraziosiJanuary 18, 2023 4:37 p.m.


Welcome to the live blog

welcome to The Independents Live coverage from the Department of Justice and the Department of the Treasury as they announce “major international cryptocurrency enforcement action” later today.

Stay with The Independent for the latest updates.

Graig GraziosiJanuary 18, 2023 4:20 p.m.

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