FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to Insiders

FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to InsidersAccording to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities. FTX’s $6.8 […]

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Nigeria Based Storage Provider Says It’s Too Risky for the World to Rely Centralized Cloud Storage Platforms

Nigeria Based Storage Provider Says It’s Too Risky for the World to Rely Centralized Cloud Storage PlatformsIn the past year, internet giants like Amazon and Google all experienced outages which were blamed on errors and failed upgrades. The occurrence of such outages and their impact around the world again highlighted the importance of having a decentralized internet. Also, just like how the Covid-19 pandemic showed the world that blockchain-based digital currencies […]

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AWS Seeks a Specialist to Develop Amazon’s ‘Digital Currency and Blockchain Strategy Roadmap’

AWS Seeks a Specialist to Develop Amazon’s 'Digital Currency and Blockchain Strategy Roadmap'This past summer the American multinational technology company, Amazon, published two job listings for a blockchain lead and a digital currency expert. Now Amazon Web Services (AWS) is looking for a principal digital assets specialist that can “help drive adoption across the global digital asset community.” AWS Is Looking for a Principal Digital Assets Specialist […]

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Amazon Web Services Now Includes a Blockchain-As-A-Service Option

Various technology companies have shown a keen interest in offering blockchain-as-a-service features. By doing so, these technology giants are allowing distributed ledgers to thrive, while also making it easier for developers to build new decentralized applications. Amazon Web Services is the latest company to offer BaaS, which is a rather surprising development. A Curious Decision by Amazon For quite some time now, people have been wondering if and when Amazon would get on board with either blockchain or cryptocurrency. While it seems highly unlikely the firm will ever support Bitcoin payments or related currencies, Amazon acknowledges the potential of blockchain technology.

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