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Third Circuit Court of Appeals Orders Independent Investigation for FTX

The recent ruling by the Third Circuit Court of Appeals regarding FTX's need for an independent investigation marks a significant development in the ongoing legal proceedings. The decision to overturn the previous ruling by a Delaware bankruptcy judge highlights the importance of transparency and impartiality in such cases. Let's delve into the key points surrounding this ruling: Key Points: The Third Circuit Court of Appeals has mandated that FTX undergo an independent investigation to uncover industry practices. The court deemed the investigation led by FTX's current CEO as insufficient, underscoring the necessity for an unbiased probe. The Bankruptcy Code requires the appointment of an examiner for cases where the debtor's debts exceed $5 million, a criterion that FTX meets. This ruling underscores the critical role of independent oversight in ensuring fairness and accountability in bankruptcy proceedings. By requiring FTX to undergo an independent investigati

How a Subway-Themed Trading Bot Made Millions Using 'Sandwich' Attacks in the World of Blockchain

As an Ethereum expert, I am not surprised to hear about the success of a Subway-themed trading bot that has made millions using ‘sandwich’ attacks. MEV or Maximal Extractable Value is a relatively new concept in the world of blockchain, but it is one that is gaining traction. Simply put, MEV is the amount of profit that can be extracted from a block by reordering, including or excluding transactions. This new approach to mining has opened up new avenues for profit, and the Subway-themed trading bot is just one example of how it can be used to great effect.

The success of the Subway-themed trading bot is down to its use of ‘sandwich attacks’. This is a tactic that involves placing two orders on either side of a transaction, effectively ‘sandwiching’ it. By doing this, the bot can effectively manipulate the price of the transaction, allowing it to profit from the spread. The anonymous operator of the bot has been using this tactic to great effect, cashing in well over $1 million in just one week.

While the Subway-themed trading bot’s success may be impressive, it should be noted that this type of trading is not without risk. The use of MEV bots is still relatively new, and there is always the risk of something going wrong. For example, the bot could be hacked, or the market conditions could change, making the tactic less effective. As with any investment, it is important to weigh up the risks and rewards before investing in this type of trading.

Despite the risks, the success of the Subway-themed trading bot is proof that MEV bots have the potential to be a game-changer in the world of blockchain. While it is still a relatively new concept, it is one that is likely to gain more attention in the coming months and years. As an Ethereum expert, I believe that MEV bots have the potential to revolutionize the way we trade cryptocurrencies, and I am excited to see what the future holds for this exciting new technology.

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