Invoices approved with emojis at FTX

Bitcoin's now trading at levels not seen since last June. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap $1.24T (+4,98%) 24 Hour Volume $51.18B (+70.17%) Notable Movers[(XLM) $0.1072]( (+4.47%) Notable Movers (DeFi)[(ICP) $5.19]( (+4.24%) Bitcoin Dominance 47,10%[(+0.87%)]( Bitcoin Price[(BTC) 30,211.00 (+6.94%)]( Ethereum Price[(ETH) $1,919.00 (+3.57%)]( Cardano Price[(ADA) $0,4091 (+5.99%)]( [Today’s Top Stories ]( Today’s Top Stories Bitcoin hits $30,000! 🔥 After weeks of toing and froing, Bitcoin has finally pierced stubborn resistance above $30,000. The world's biggest cryptocurrency is now at its highest price point since last June. A bigger question now is whether BTC will manage to stay above this crucial level. The U.S. will release long-awaited inflation data later this week that could determine the future direction of travel. Analysts are looking for signs that the Consumer Price Index is beginning to cool, as this would prompt the Federal Reserve to ease their campaign of aggressive interest rate hikes. Ether is also showing signs of momentum ahead of the long-awaited "Shapella" upgrade tomorrow, which will allow stakers to withdraw their ETH. A damning FTX report 😱 FTX's new management has released a blistering new report that delves into the failures leading up to the exchange's bankruptcy. Here are just some of the takeaways. 1. "Hubris, incompetence and greed" are cited as some of the root causes that led to FTX collapsing as swiftly as it had grown. 2. Sam Bankman-Fried, Gary Wang and Nishad Singh controlled almost every aspect of FTX — despite the fact they were fresh out of college and had little experience in risk management and running a business. 3. One executive stated that "if Nishad got hit by a bus, the whole company would be done" — highlighting the concentration of power. 4. Other executives who tried to raise concerns saw their bonuses slashed — and were ordered to apologize to SBF but refused to do so. 5. QuickBooks was used for much of FTX's record-keeping, meaning that it was impossible for the exchange to keep accurate financial records. 6. In internal messages, SBF described Alameda Research as "unauditable," writing: "We sometimes find $50 million of assets lying around that we lost track of; such is life." 7. Expenses and invoices were regularly submitted on Slack — and were approved using emojis. That's right, emojis! 😑 8. Neither Singh nor Wang had the training or experience to handle FTX's cybersecurity needs — and the company didn't have a chief information security officer or anyone with the skills to fulfill the responsibilities of such a role. 9. Virtually all cryptoassets were kept in hot wallets connected to the internet, meaning they were "far more susceptible to hacking, theft, misappropriation and inadvertent loss." Indeed, we saw a hack take place on the day of the bankruptcy. 10. And further illustrating the haphazard way in which crypto was stored, hundreds of millions of dollars worth of crypto recovered was not reflected in any of FTX's record-keeping systems. New York Times under fire 👀 The New York Times has released a new report that delves into the impact of Bitcoin mining — and as you'd expect, reaction on Crypto Twitter has been far from welcoming. The newspaper's been accused of overlooking key facts when it comes to scrutinizing the blockchain's energy use — and making basic errors. Its report claims that miners are putting immense pressure on the power grid — generating higher electricity bills and "enormous carbon pollution." But Bitcoiners insist that the publication has overlooked the facilities that use a high mix of energy from sustainable sources. Riot, one of the companies highlighted in the report, alleges that the article was published with information the authors knew to be false and misleading. Thanks for reading! Have a great day — more news tomorrow! [Facebook]( [Twitter]( [Instagram]( [Telegram]( Brought to you with❤️ from CMC Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? [Sign up here]( for Daily Newsletters, Promotions and Events and Prices [ADVERTISE]( | [CAREERS]( | [FAQ]( © 2023 CoinMarketCap [Unsubscribe]( [coinmarketcap.com]( CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States