Vitalik on Suspect Centralization, FTX’s ‘Absolute Fraud,’ Coinbase Confirms Bitcoin Holdings — Week in Review

Vitalik on Suspect Centralization, FTX"s "Absolute Fraud," Coinbase Confirms Bitcoin Holdings — Week in Review

As the smoke starts to clear around the massive crater left by the FTX disaster, Ethereum co-founder Vitalik Buterin has shared his thoughts on the ether community’s view of centralization. In related news, CME Group CEO Terry Duffy recalls in March when he called former FTX boss Sam Bankman-Fried an “absolute fraud.” Implosions notwithstanding, Coinbase has reminded users their “financials are public” and noted the company holds 2 million bitcoin. All this and more in the latest Bitcoin.com News Week in Review, just below.

Ethereum Co-Founder Vitalik Buterin Discusses FTX Collapse — Says ‘Centralized Anything Is by Default Suspect’

Ethereum co-founder Vitalik Buterin says many people in the Ethereum community see the FTX collapse “as a validation of things they believed in all along: centralized anything is by default suspect.” However, he warned that automatically downgrading every single thing former FTX CEO Sam Bankman-Fried believed in “is an error.”

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Ontario Teachers’ Pension Fund Writes Down Entire Investment in Bankrupt Crypto Exchange FTX Citing ‘Potential Fraud’

Ontario Teachers’ Pension Plan (OTPP), one of the largest pension plans in the world, is writing down its investment in the bankrupt crypto exchange FTX. “Recent reports suggest potential fraud conducted at FTX which is deeply concerning for all parties,” the plan states.

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CME Group’s CEO Called FTX’s Sam Bankman-Fried an ‘Absolute Fraud’ When They Met in March

According to the CEO of CME Group, Terry Duffy, the executive met with former FTX CEO Sam Bankman-Fried (SBF) last March at a conference, and Duffy ended up calling the FTX frontman a “fraud.” When Duffy sat down with SBF, the former FTX executive said his end goal was to compete with CME Group.

Read More Coinbase CEO Says Company Holds 2 Million Bitcoin, Reminds People Firm’s ‘Financials Are Public’

According to Coinbase CEO Brian Armstrong, as of Sept. 30, 2022, the company holds 2 million bitcoin worth $39.9 billion. The news Armstrong shared comes at a time when the general public is looking directly at exchange balances following FTX’s turbulent collapse.

Read More Tags in this story 2 Million Bitcoin, Centralization, CME Group, Coinbase, Fraud, ftx, investment, Ontario Teachers" Pension Plan, Sam Bankman-Fried, Terry Duffy, Vitalik Buterin

What are your thoughts on this week’s stories? Is anything centralized by default suspect? Be sure to let us know in the comments below. Bitcoin.com

Since 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. Bankman-Fried"s Private Jet Causes Buzz, Kraken CEO Addresses FTX Collapse, More Sleeping Bitcoins Wake Up — Week in Review THE WEEKLY | Nov 20, 2022 The Mysterious FTX Debacle, Tim Draper"s BTC Price Prediction, More Support for Ripple in SEC Lawsuit — Week in Review THE WEEKLY | Nov 13, 2022

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articlePutin Calls for International Settlements Based on Blockchain and Digital Currencies Next articleCrypto Influencer Bitboy Flies to the Bahamas to Question Former FTX Exec Sam Bankman-Fried Disclaimer: 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 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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards

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