Cryptocurrency exchange News & Breaking Stories

Democratic megadonor Sam Bankman-Fried considered paying former President Donald Trump not to run for reelection in 2020, according to a new book. Bankman-Fried's associates reportedly established a covert communication line with Trump's camp and found he could potentially be swayed for $5 billion. Bankman-Fried also planned to contribute millions to Senate Minority Leader Mitch McConnell to defeat "Trumpier" candidates. Bankman-Fried is currently facing charges of fraud and embezzlement.

Bitcoin's price fell by nearly 8% in an hour of frenzied trading, erasing most of its gains since June. The sell-off coincided with news that Elon Musk's SpaceX had written down the value of its bitcoin holdings by $373mn and sold the cryptocurrency. The volatility comes as US regulators crack down on the sector and as expectations of interest rate cuts by the Federal Reserve are reassessed.

Former billionaire and FTX cryptocurrency exchange founder, Sam Bankman-Fried, may be jailed pending his October fraud trial for witness tampering. Prosecutors argue that Bankman-Fried shared personal Google documents with the press to intimidate witnesses. Bankman-Fried has pleaded not guilty to stealing billions of dollars in customer funds.