20 Apr 2023

                                 LOS SANTOS TIMES

by Herald Johnson

20 April 2023

CRYPTO CRASH

QBit, a major cryptocurrency exchange, and QBit.LS, its LS branch, filed for Chapter 11 bankruptcy, QBit announced Thursday. The companies also faced an apparent hack that drained more than $600 million from user wallets later the same day. QBit’s balance sheet, published by the LS Times, shows a 10:1 ratio of liabilities to assets, suggesting that any bankruptcy recovery for affected users could be small to nonexistent.

Founder and CEO Quintis Perrywinkle has resigned, according to Thursday’s press release.

The exchanges crashed amidst liquidity concerns and allegations of misused funds followed by a large volume of withdrawals from rattled investors. The value of QBit’s native token, Qbit, plummeted today, and will continue to plummet.

The impact of QBit’s crash is having wide-reaching implications throughout the crypto market, as cryptocurrencies and exchanges with exposure to Qbit face sinking prices and financial troubles.

If you still own QBit crypto, SELL WHILE YOU CAN!  There is no indication that the market will recover and could very well be gone anytime in the near future.

POLICE DEPARTMENT SHAKE UP

There's a new Commissioner in town.  Billy Hamm (Little Foot) has taken over as the Commissioner of LS's law enforcement branches. Commissioner Hamm promises to take a harder approach at crime in LS, stating that "we no longer give in to frivolous demands nor will the PD give into demands that impede our ability to apprehend criminals." 

His second in command, Chief Clark Wayne has stated that law enforcement has a new vision for LS.  Looking at a more inclusive department overall along with more community outreach. "We don't only want to protect the citizens of LS but we also want to get to know them, hang out with them, and let them know that we don't just uphold the law." 

Along with this change of command, the PD has also welcomed back more than six officers that have left over the last couple of months.  "PD has grown exponentially in the last week and we should have cops around every day now." Stated Chief Wayne.  

A MESSAGE FROM THE EDITOR

It has been an honor and privilege to be a part of this great city. The time has come for me to focus my efforts elsewhere for some time. Anyone wanting to report the news, please feel free to reach out to me via my email.  I'll be able to look over your articles and even help you publish them.  I just won't have time to be writing them anymore.  I will return to LS someday. But until then, be safe, and take care of each other.  

And to Virginia Lee,  we will get married upon my return if you will still have me.  I know my departure is abrupt but it couldn't have come at a better time.  You will see.  With all my heart, I love you.

Herald Johnson