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3AC Attempted to Mislead LayerZero
Kyle Davies, the co-founder of the now-bankrupt crypto fund Three Arrows Capital (3AC), tried convincing LayerZero's leadership to hand over their entire treasury to the fund just days before declaring bankruptcy. LayerZero Labs CEO Bryan Pellegrino revealed Davies offered enticingly high-interest rates for the deal. FTX Grapples with Hefty Legal Expenses
Cryptocurrency exchange FTX is facing a significant financial burden, shelling out approximately $53,000 per hour on legal counsel for its ongoing bankruptcy proceedings. From August to October 2023, the exchange's new leadership has already expended over $118 million in legal fees. 
FTX Bankruptcy Could Be a Long Haul
Alan R. Rosenberg, an attorney with the American firm Markowitz Ringel Trusty & Hartog, believes the FTX bankruptcy process could extend over several years. The complexity is due to the vast number of creditors involved and the contentious nature of the claims. As an example, FTX's leadership continues efforts to reclaim substantial funds transferred to various entities just before its bankruptcy. Bullish Crypto Exchange Takes Over CoinDesk
Under the leadership of Tom Farley, ex-President of NYSE, Bullish, an institutional crypto exchange, has officially taken ownership of the news platform CoinDesk from Digital Currency Group. Investment plans are in place for CoinDesk, though details remain under wraps. 
FTX Offloads Another Asset
The bankrupt cryptocurrency exchange FTX is set to sell Digital Custody Inc. (DCI), a subsidiary it acquired for $10 million, to CoinList for merely $500,000. The leadership deems this transaction favorable, given that DCI, a provider of custodial services, has lost its utility following the abandonment of plans to reboot the platform. Ex-SEC Official Slams FTX Legal Team
John Reed Stark, a lawyer and former SEC enforcement chief, has labeled the effort by the leadership of the now-bankrupt crypto exchange FTX and its associated legal firms to relaunch the platform as blatant fraud. He predicts that by the end of 2024, each attorney involved in this case will afford to buy a luxury beach house, effectively financed by the funds of FTX users. 
Meta Rolls Out Its New AI Chatbot
Under the leadership of Mark Zuckerberg, Meta is charting a new course with its AI-driven chatbot, Meta AI. This innovaton is set to be a fixture in all apps and devices the company releases. With the Llama 2 language model as its base, this chatbot can produce both text and images, providing users with multiple use cases. Celebrity-inspired chatbots for entertainment, with Snoop Dogg among the first, are also in the pipeline. Hodlnaut controversy: OPNX's proposal sparks backlash
Following a probe by the Twitter user OnchainPenguin, a dubious $9.5 million transaction was tied to a fresh acquisition proposal.
The inflow to Hodlnaut's wallet was 2221 times higher than the average. Insights from OnchainPenguin pinpoint this account as the source of rewards to OPNX’s leadership.
It seems that Hodlnaut's funds were in some way supporting OPNX's functional outlays,and the trading platform's chiefs might be on a mission to save the virtual currencies FLEX and OX. There's a looming risk that these tokens could nosedive in value if Hodlnaut opts to liquidate its possessions to repay its lenders. UK Treasury is looking for a cryptohead!
They announced a new job on LinkedIn: “Head of Central Bank Digital Currency.”
"The successful candidate will be responsible for leadership of HM Treasury’s work on a potential digital pound – a U.K. central bank digital currency (CBDC)," reads the post.
The Bank of England (BoE) had previously stated that the FTX collapse proved the need for a digital pound.