Blockchangers Blog

Weekly Wrap Up #72

Quote of the week: “Never in my career have I seen such an utter failure of corporate controls at every level of an organization, from the lack of financial statements to a complete failure of any internal controls or governance whatsoever.” – John Ray, New CEO of FTX.  Source

The Sam Bankman Fried (“SBF”) Saga Continues:  This week, SBF was arrested by authorities in the Bahamas at the request of the United States government. The United States government issued a formal notification that it had filed criminal charges against SBF; and, following this notification, SBF was arrested by the Royal Bahamas Police Force. The United States government has accused SBF of defrauding U.S. customers and concealing the diversion of customers’ funds. The SEC has charged SBF with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. Source:

The Launch of MegaMask is Announced:  Ken DiCross, CEO of Wire Network, spoke at CoinAgenda and announced the launch of MegaMask. MegaMask aims to redefine the standard for cross-chain interoperability and asset transfers. The wallet allows users to easily store, display, and transfer NFTs, cryptocurrencies, and other digital assets across various blockchains. Mr. DiCross stated, “This is a major pivot point in blockchain technology as we step away from the vulnerable fragmentation of traditional crypto architecture.”  Fair Disclosure: Alpha  Sigma Capital is an investor in Wire Network. Source:

Ongoing Federal Lawsuit against Ooki DAO Update:  This week, the judge of the court ordered the Commodities Future Trading Commission (CFTC) to serve the founders of Ooki DAO with a lawsuit. The founders had already settled charges with the CFTC in September relating to illegal commodities offerings, while the Ooki DAO token holders were charged with separate charges. Judge Orrick stated, “It seems clear in this case that Ooki DAO has actual notice of the litigation… But to provide the best practicable notice, the CFTC should serve at least one identifiable token holder if that is possible.”  Source: Releases Proof of Reserves Data:  Following the collapse of FTX, some exchanges have decided to release their proof-of-reserves data to help calm investors. This week, released its proof-of-reserves data from Mazars Group, an auditing firm. The data confirmed that has enough cryptocurrency assets to back its liabilities to customers; clients’ assets are fully backed one-to-one. Source:

Binance.US Introduces its New Payment Service:  Crypto exchange Binance.US officially introduced its Payment Service for United States customers this week. The feature has been available to Binance customers outside of the United States since February 2021. Binance.US users will be able to use the feature immediately; the feature is intended to allow users to send, request, and receive over 150 different cryptocurrencies from other users, enabling instant, zero-cost cryptocurrency transfers. Source:

And, that’s a wrap!

Jordana Cohen,


Alpha Sigma Capital

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Daniel Siciliano

F. Daniel Siciliano is an Independent Director of the Federal Home Loan Bank of San Francisco and Chair of the American Immigration Council. He is the former faculty director of the Rock Center for Corporate Governance at Stanford University and former Professor of the Practice and Associate Dean at Stanford Law School. His work has included expert testimony in front of both the U.S. Senate and the House of Representatives and for 2009, 2010, and 2011, alongside leading academics and business leaders such as Ben Bernanke, Paul Krugman, and Carl Icahn, Professor Siciliano was named to the “Directorship 100” – a list of the most influential people in corporate governance.

Siciliano was also co-founder, CEO and ultimately Executive Chairman of LawLogix Group, Inc. – a global software technology company named 9 consecutive times to the Inc. 500/5000, several times ranked as one of the Top 100 fastest-growing private software companies in the US and named to the US Hispanic Business 500 (largest) and Hispanic Business 100 (fastest growing) lists for 2010 and 2011. In 2012 he sold a majority stake of the company to PNC Riverarch Capital, continued as Executive Chairman, and led the sale of the company to Hyland Software/Thoma Bravo in 2015.

Siciliano is a co-founder and board member of the Silicon Valley Directors’ Exchange (SVDX), Chairman of the national non-partisan American Immigration Council, past-President of the League of United Latin American Citizens (LULAC) Council #1057, and an active member of the Latino Corporate Directors’ Association.

Siciliano’s related areas of expertise include executive compensation, corporate compliance, the legal and social impact of autonomous (AI/robotic) systems, and corporate technology strategy and security. He has served as a governance consultant and trainer to the Board of Directors of dozens of Fortune 1000 companies (including Google, Microsoft, Fedex, Disney, Entergy and Applied Materials), is an angel investor and consultant to several firms and companies in Silicon Valley, Hong Kong, India, and Latin America, and currently serves as an independent director on the board of the Federal Home Loan Bank of San Francisco. He lives in Los Altos, California.