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An ex-employee of Alameda Research recently unveiled that Sam Bankman’s Alameda Research instigated Bitcoin’s 87% crash in October 2021. In a matter of a few minutes, BTC temporarily lost more than 4/5ths of its value on Binance.US and dropped to $8200. On most other exchanges, it was trading normally in the $65,000–$66,000 price bracket. Aditya Baradwaj revealed that most of Alameda ’s trades were executed using algorithms. However, traders could also manually send orders. This helped them capitalize on the market’s volatility and make gains. Retrospectively, this is what caused BTC’s flash crash at the height of the 2021 ‘double top’ bullish phase. Baradwaj alleged that an Alameda trader’s “finger slipped,” and that unfolded the catastrophe. He outlined, “The trader was trying to sell a block of BTC in response to the news and sent out the order via our manual trading system. What they missed was that th...

In a release on Friday, Russian news outlet Interfax shared updates regarding the nation’s largest bank, Sberbank’s forthcoming DeFi platform. Russia’s leading financial entity is reportedly making steady progress as it approaches its project’s launch date. According to Konstantin Klimenko, Product Director of the Blockchain Laboratory of Sberbank, open testing should kick off by March.  SberBank’s DeFi System to Replace its TradFi Systems At the moment, Sberbank’s platform is undergoing private beta testing. However, Klimenko set a tentative deadline for the product release in May of this year. As April draws to a close, the director claimed, the product should be fully open. Should Klimenko’s words stand true,  users will be able to conduct the first commercial operations by then. The product director also shared Sber’s expectations for the platform to become Russia’s foremost DeFi ecosystem. It is also their plan to put the nation’s DeFi ecosystem in the lead globally. ...