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COINDESK DAILY: Will Mayor Adams Join Sam Bankman-Fried and Diddy in Prison?; Crypto Hacks in Q3

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CoinDesk

Cryptocurrencies, Cryptocurrency, Dlt, Tokenization, Coindesk, Distributed Ledger, Blockchain, Tech News, Business News, Ethereum, Bitcoin, News, Digitalassets, Daily News, Decentralization, Defi, Crypto, Business

4.8689 Ratings

🗓️ 26 September 2024

⏱️ 2 minutes

🧾️ Download transcript

Summary

Host Christine Lee breaks down the news in the crypto industry from Major Eric Adams' indictment to Immunefi's report on crypto hacks in Q3.

"CoinDesk Daily" host Christine Lee breaks down the biggest headlines in the crypto industry today, as the indictment of New York Major Eric Adams stirs up speculations of whether he could join Sam Bankman-Fried and Sean "Diddy" Combs in the Brooklyn detention center. Plus, Immunefi releases a report on crypto hacks in the third quarter and PayPal will let business clients buy, hold and sell crypto.

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This episode was hosted by Christine Lee. “CoinDesk Daily” is produced by Christine Lee, Jennifer Sanasie, Melissa Montañez and edited by Victor Chen.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0

SBF and Diddy could be getting a new high-profile jailmate and a look back at CryptoHacks in Q3.

0:07.2

This is Queen S Daily. I'm your host Christine Lee.

0:14.6

Crime makes strange bedfellows.

0:17.1

While Sam Bankben-Fried and Sean Diddy Combs are sharing the same jail housing unit,

0:22.4

they could possibly get a new bunkmate, New York mayor Eric Adams.

0:27.4

The internet is speculating the three could share the same dorm-style room in a Brooklyn detention center

0:33.1

after Mayor Eric Adams is indicted following a federal corruption investigation.

0:38.3

In the months before the collapse of Bankman Freed's Exchange, FTX,

0:42.3

SPF rubbed shoulders with high-profile politicians, including Mayor Adams,

0:47.3

dining with the mayor at his favorite Midtown Manhattan restaurant.

0:50.3

Adams is known to be a crypto fan.

0:52.3

His first mayor paycheck was denominated in Bitcoin

0:56.3

and Ether. PayPal will let its business clients buy, hold, and sell crypto directly from their

1:03.0

accounts in the United States, potentially opening up a larger market. It's been a few years

1:08.5

since the payment giant has allowed its retail users to do the

1:11.7

same via PayPal and Venmo accounts. The expansion of service comes after the company saw demand

1:17.8

from business owners too, according to a statement released Wednesday. However, the service will not

1:23.4

be available to business clients in the state of New York in the beginning, and PayPal has yet to

1:28.8

give a timetable for when that would change. Hackers stole $409 million worth of crypto in the third

1:36.0

quarter and an additional $3 million was lost to fraud. That's a coin to report by Immunify.

1:42.1

The Bug Bounty platform added that the figure is 40% less than in the year earlier period.

1:49.2

Most of the quarter's losses came from hacks of crypto exchanges with India's Wazir X losing $235 million and Singapore's BingX, $52 million.

...

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