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Daily News Summary 25/9

September 25, 2024 Tóth Balázs
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Caroline Ellison Sentenced to 2 Years in Prison

Caroline Ellison, former co-CEO of Alameda Research, has been sentenced to two years in prison by U.S. District Judge Kaplan in New York for her role in the collapse of FTX. Ellison, who was also the former girlfriend of Sam Bankman-Fried, the ex-CEO of the bankrupt FTX, pleaded guilty in December 2022 to charges of fraud and money laundering. She will serve her sentence in a minimum-security facility starting after November 7.

Societe Generale Enters the Stablecoin Market

Global banking conglomerate Societe Generale has partnered with Bitpanda to expand the mainstream adoption of its euro-denominated stablecoin, EUR CoinVertible (EURCV). According to Jean-Marc Stenger, CEO of Societe Generale-FORGE, the goal is to offer a readily available digital currency to European users. This partnership is seen as an important step in integrating stablecoins into the broader financial system.

Binance Launches Pre-Market Trading Service

Binance has introduced a pre-market spot trading service, allowing users to take early positions before a token’s spot market listing. Unlike competitors, Binance offers actual tokens for pre-market trading, rather than derivative products.

Initia Raises $14 Million for New Blockchain Concept

Initia, a layer-1 blockchain project, has raised $14 million in a Series A funding round ahead of its mainnet and token launch. The round was led by Theory Ventures, with participation from Delphi Ventures and Hack VC. Initia aims to provide a holistic approach to the multichain ecosystem, integrating layer-1 and layer-2 rollups in a seamless system.
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