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Notably, Patomak signed Sam Bankman-Fried’s now-defunct exchange FTX as a client in January 2022, around 10 months before the exchange imploded.
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After leaving the SEC, Atkins founded the financial sector consultancy firm Patomak Global Partners in 2009. Patomak specializes in regulatory advice, risk compliance services and enforcement and litigation support.
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“When we look at how the commission is going to work moving forward, they have familiarity. They’ve already rolled up their sleeves and been in the war together,” said Carbone.
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Both Peirce and Uyeda were staffers for Atkins during his six-year stint at the agency.
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Interest in the keyword “Microsoft Bitcoin“ on the Google search engine has surged ahead of the vote on Dec. 10, according to Google Trend’s seven-day timeframe data. Increased search activity for crypto-related keywords often reflects curiosity among retail traders.
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Despite the proposal’s inclusion, the “Board Recommendation” section advised shareholders to vote against it. Microsoft’s board of directors stated that the company’s management had already thoroughly evaluated the matter.
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On Oct. 24, ahead of the United States presidential election, Microsoft included a section in its Form 14A filing with the US Securities and Exchange Commission (SEC). Titled “Assessment of Investing in Bitcoin,” the document suggests the company is evaluating Bitcoin as a potential asset diversification tool.
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Bitcoin’s intraday drop appears ahead of a key Microsoft shareholders vote in which they would decide whether or not to add BTC to their treasury.
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During this event, BTC price dropped as much as 11% to $92,00, triggering a sell-off in altcoins, including memecoins. DOGE dropped 12% on the same day, while memecoins lost $1 billion in market capitalization.
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This marked the biggest liquidation event since 2021, accompanying the start of the 2022 bear market. More recently, a similar liquidation event accompanied the Dec. 5 flash crash that saw more than $816 million longs wiped out of the derivatives market against $280 million short.
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Similarly, more than $7.9 million PEPE longs and $3.6 million WIF longs were liquidated over the same period.
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Over $72.6 million in DOGE longs and more than $22.35 million in SHIB longs accounted for the majority of liquidations across memecoins in the past half-a-day.
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Futures tracking smaller altcoins and meme tokens recorded higher losses than BTC or ETH futures in an unusual move, according to data from CoinGlass.
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“The biggest long liquidation of this bull cycle so far,” CoinGlass said in a Dec. 10 post on X.
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