Binance’s emergency insurance fund is largely comprised of a cryptocurrency tied to the company itself, according to on-chain data. The two addresses associated with the fund show that its BNB tokens account for 44% of its reserves. The Wrong Type of Insurance? As shared by on-chain analyst Willy Woo on Twitter, the Secure Asset Fund...Read More
The lower chamber of Russia’s parliament – State Duma – has reportedly started working on a draft bill that could aid the creation of a “national crypto exchange.” The platform needs the approval of the country’s central bank and the Ministry of Finance. The Bank of Russia has previously shown its negative stance on the...Read More
In a new press release, the Securities Commission of The Bahamas explained that only placing FTX Digital Markets into liquidation was not sufficient, citing the risks associated with hacking and breach. SCB Executive Director also lashed out at new FTX CEO John Jay Ray III for “misrepresenting” the agency’s action through the “intemperate” and “inaccurate”...Read More
The Solana Foundation has released a fact sheet detailing the exposure it holds to FTX following its bankruptcy The organization held over $180 million worth of crypto asset exposure to the company as of November 6th, just before the exchange ceased processing withdrawals. FTT and SRM Holdings According to the foundation’s report (last updated Monday),...Read More
North American crypto users will be restricted from staking ApeCoin, the ERC-20 metaverse token issued by Yuga Labs, according to a company statement on Wednesday. The ApeCoin DAO claimed the “current regulatory environment” left it with “no good alternative” but to selectively geo-block the service in numerous areas, including Canada and the United States. Yuga...Read More
[PRESS RELEASE – Seoul, Korea, 24th November 2022] tripleS has exploded onto the massive global K-Pop scene with its first subunit’s debut album, Access. In just three weeks since its release, the Seoul-based girl group that blends blockchain with pop music has hit more than 28 million YouTube views on the album’s lead track, “Generation.”...Read More
[PRESS RELEASE – Singapore, Singapore, 24th November 2022] BinaryX has confirmed that it is working on a new free-to-play, play-to-own game, CyberLand, an open-world MMO powered by blockchain technology. The team just released the concept video, which gives a first look of the terrains and features of the game. Free-to-play, Play-to-Own CyberLand marks BinaryX’s official...Read More
The second-largest cryptocurrency exchange in the world, FTX, filed for bankruptcy in the US on November 11, 2022. Following market worries about FTX’s financial stability and related transfers to Alameda Research, a trading firm owned by FTX’s founder, Sam Bankman-Fried, FTX was unable to meet customer withdrawals (worth about $5 billion). The filing follows FTX’s...Read More
As events continue to unfold in the wake of FTX’s collapse, some of the funds missing from the exchange’s accounts have been found and secured. Shortly after its sudden downfall, FTX hired digital asset custodial company BitGo to handle its accounts and assets. Now, the custodial firm has recovered crypto assets worth over $700 million...Read More
Law enforcement agents in Singapore have reportedly opened an investigation against the troubled crypto lender Hodlnaut. The police suspect the company’s executives might have cheated users over the years and committed other crimes. Hodlnaut Takes Another Punch According to a Bloomberg coverage, Singapore’s police force started probing Hodlnaut for its alleged involvement in cheating and fraud...Read More
Ethereum’s price is about to complete a ‘V-shape’ recovery that began after rebounding from the bottom around $1079. Meanwhile, the bears are also very active, attempting to drive down prices. However, the bulls and whales appear to be well positioned, with plans to propel the prices higher very soon. Alongside, the on-chain data flashes bullish...Read More
A crypto wallet attributed to the failed BTC-e linked to the 2014 Mt. Gox hack moved 10,000 Bitcoin, now worth over $165 million, to a group of personal wallets, exchanges, and other services on November 23rd. A report by Chainalysis suggested that the funds’ movement marks the largest withdrawal by the Russia-focused cryptocurrency exchange –...Read More
As FTX will not be able to follow through on its commitment to purchase Voyager and its assets, Binance US will return to the table, said Changpeng Zhao. He also reiterated a previous statement that Binance is not a Chinese company, despite his appearance. Binance US to Bid on Voyager Again The cryptocurrency winter that...Read More
Twitter’s new CEO – Elon Musk – thinks Sam Bankman-Fried is much better at “bribing media” than managing a cryptocurrency platform. The South African entrepreneur also dismissed the rumors that FTX’s former boss had purchased a $100 million stake at Twitter. Another Wave of Criticism The general public opinion on SBF has undoubtedly changed for...Read More
On Nov. 24, analytics firm Chainalysis made the Mt.Gox comparison as it was not the first time the crypto world has been shaken due to an exchange demise. Mt.Gox was the first Bitcoin exchange, but it collapsed in February 2014. Crypto survived and thrived, and it will do so again despite all the mainstream media...Read More
On the heels of the Terra LUNA meltdown and the bankruptcy of FTX, authorities from South Korea are proposing new amendments to the Digital Assets Bill seeking greater control over cryptocurrency exchanges. Congressman Yoon Chang-Hyun is preparing an amendment to expand financial authorities’ control capabilities to prevent the repetition of events such as the FTX...Read More
Despite the negative news surrounding the crypto ecosystem, NFTs continue attracting large entertainment companies’ attention. This November 21, Mattel, one of the world’s largest toy companies, announced the launch of its own NFT marketplace, “Mattel Creations,” which will offer direct-to-consumer services. According to the company’s press release, the first collection to be launched by the...Read More
