{"id":15831,"date":"2022-12-25T13:55:21","date_gmt":"2022-12-25T13:55:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/i-take-payment-in-bitcoin-big-short-investor-says-audits-of-exchanges-like-binance-and-ftx-are-meaningless-and-more-week-in-review-the-weekly-bitcoin-news\/"},"modified":"2022-12-25T13:55:21","modified_gmt":"2022-12-25T13:55:21","slug":"i-take-payment-in-bitcoin-big-short-investor-says-audits-of-exchanges-like-binance-and-ftx-are-meaningless-and-more-week-in-review-the-weekly-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/i-take-payment-in-bitcoin-big-short-investor-says-audits-of-exchanges-like-binance-and-ftx-are-meaningless-and-more-week-in-review-the-weekly-bitcoin-news\/","title":{"rendered":"‘I Take Payment in Bitcoin’; Big Short Investor Says Audits of Exchanges like Binance and FTX Are ‘Meaningless,’ and More \u2014 Week in Review \u2013 The Weekly Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

Ahead of the holidays and new year, the former U.S. National Security Agency (NSA) contractor known to the world as a staunch privacy advocate and whistleblower, Edward Snowden, has offered to step up as the new CEO of Twitter after current \u201cChief Twit\u201d Elon Musk has said he is stepping down. In other news from this week, hedge fund manager Michael Burry \u2014 of \u201cThe Big Short\u201d fame \u2014 said that audits of cryptocurrency exchanges like FTX and Binance are \u201cmeaningless.\u201d Get caught up on these hot stories and much more just below in this latest issue of the Bitcoin.com News Week in Review.<\/strong><\/p>\n

\"Elon<\/p>\n

Elon Musk Promises to Step Down as Head of Twitter \u2014 Edward Snowden Throws His Name in the Hat for CEO<\/h2>\n

Tesla CEO and Twitter chief Elon Musk has promised to step down as head of Twitter. As the billionaire seeks a new CEO to run the social media platform, privacy advocate Edward Snowden threw his name in the hat, stating that he takes payment in bitcoin. \u201cThe question is not finding a CEO, the question is finding a CEO who can keep Twitter alive,\u201d Musk clarified.<\/p>\n

Read More<\/strong><\/a><\/p>\n

\"New<\/p>\n

New FTX CEO Told Members of Congress SBF\u2019s Family \u2018Certainly Received Payments\u2019 From the Business<\/h2>\n

According to multiple reports, FTX co-founder Sam Bankman-Fried\u2019s parents face scrutiny over their reported involvement with their son\u2019s business operations. The two Stanford professors Joseph Bankman and Barbara Fried have not been charged with any wrongdoing, but the current FTX CEO, John J. Ray III, recently told members of the U.S. Congress that Joseph Bankman and \u201cthe family certainly received payments\u201d from FTX.<\/p>\n

Read More<\/strong><\/a><\/p>\n

\"'Visibly<\/p>\n

\u2018Visibly Shaking\u2019 FTX Co-Founder Hammers out a \u2018Wasted Day\u2019 in Court as Bahamian, US Legal Team Prep for Extradition<\/h2>\n

FTX co-founder Sam Bankman-Fried (SBF) had a difficult day in court on Monday according to a number of accounts that said SBF\u2019s local attorney seemed to be in conflict with his U.S. legal team. Furthermore, courtroom reports noted that SBF dozed off for an extended period of time and had to be shaken awake by an official.<\/p>\n

Read More<\/strong><\/a><\/p>\n

\"Big<\/p>\n

Big Short Investor Michael Burry Says Audits of Crypto Exchanges Like Binance and FTX Are \u2018Meaningless\u2019<\/h2>\n

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says the problem with auditing cryptocurrency exchanges, like Binance and FTX, is the same as when he started using a new kind of credit default swap. \u201cOur auditors were learning on the job,\u201d he described, adding that it\u2019s \u201cnot a good thing.\u201d<\/p>\n

Read More<\/strong><\/a><\/p>\n

\n
\nTags in this story
\n<\/h6>\n
audits<\/a>, big short<\/a>, Binance<\/a>, ftx<\/a>, John J. Ray III<\/a>, michael burry<\/a>, Musk<\/a>, Sam Bankman-Fried<\/a>, sbf<\/a>, SBF court<\/a>, SBF Extradition<\/a>, snowden<\/a>, Twitter CEO<\/a><\/div>\n<\/div>\n

What are your thoughts on this past week\u2019s hottest stories from Bitcoin.com News? Be sure to let us know in the comment section below.<\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nBitcoin.com <\/h6>\n

\nSince 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance.<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Sorbis \/ Shutterstock.com<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n