Singapore’s well-meaning attempt at crypto regulation may not work out, given its skeptical approach to the asset class, Ethereum co-founder Vitalik Buterin said in an interview with The Straits Times on Nov. 20. Buterin said he appreciates the city-state’s willingness to be supportive, but it could all be for nothing. “I definitely appreciate the amount …
Yearly archives: 2022
$333 Million in Bitcoin Vanished from FTX Days Before the Company Filed for Bankruptcy Protection
While it’s widely reported that hundreds of millions of dollars in Ethereum-based tokens were siphoned from the FTX wallet after the company filed for bankruptcy on Nov. 11, 2022, another $333 million worth of FTX-related bitcoins somehow vanished as well. At one point, FTX held $3.3 billion worth of bitcoins during its heyday, but by …
‘FTX Accounts Drainer’ Offloads 50,000 ETH, Entity Uses Ren’s Bitcoin Gateway to Acquire BTC
The ethereum wallet known as the “FTX Accounts Drainer” has started to offload the ethereum it collected this past week after becoming the 27th largest ether address. On Nov. 19, 2022, the wallet held 250,735 ether, but by 7:44 a.m. (ET) on Nov. 20, the “FTX Accounts Drainer” transferred roughly 50,000 ether out of the …
Bankman-Fried’s Private Jet Causes Buzz, Kraken CEO Addresses FTX Collapse, More Sleeping Bitcoins Wake Up — Week in Review
With the colossal collapse of crypto exchange FTX in recent weeks, excitement in the world of cryptocurrency and finance has been in no short supply. Former FTX CEO Sam Bankman-Fried’s private jet was reportedly spotted heading to Argentina, Kraken’s CEO has addressed the fallout of the Alameda/FTX saga, saying that “The damage here is huge,” …
Crypto Giant Grayscale Says Providing On-Chain Proof of Reserves Threatens Its Clients’ Security
Crypto asset management giant Grayscale says it doesn’t want to provide precise on-chain proof of its reserves because of security risks. Since the revelations that former crypto exchange FTX was mishandling its customer funds, other exchanges and firms have moved to provide proof-of-reserves to assure clients of solvency. In a Twitter thread, Grayscale says that …
Binance CEO Changpeng Zhao Says Sam Bankman-Fried ‘Clearly’ Lied to FTX Users, Investors and Employees
Binance CEO Changpeng Zhao is unveiling more details about the call he had with Sam Bankman-Fried as the FTX founder scrambled to rescue his ailing crypto exchange. In a new CNBC interview, Changpeng Zhao says that he received a call from Bankman-Fried within 48 hours after tweeting his firm’s plans to liquidate its FTT holdings. …
Kraken Founder Jesse Powell Predicts Next ‘Big Event’ That Pushes Crypto Out of Bear Market
Crypto veteran Jesse Powell is weighing in on the state of the industry following the collapse of FTX, giving a prediction for what will propel the space out of its bear market. In a new interview on the Bankless podcast, Powell says with billions of dollars now gone and a reputation to repair, the industry …
GBTC Bitcoin discount nears 50% on FTX woes as investors stock up
The largest Bitcoin (BTC) institutional investment vehicle is coming under suspicion as it trades at a record discount. The Grayscale Bitcoin Trust (GBTC) is the latest Bitcoin industry entity to feel the heat from the debacle over defunct exchange FTX. FTX woes see Coinbase pledge trust in GBTC owner With contagion and fears over a …
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South Korea investigates crypto exchanges for listing native tokens
Native cryptocurrencies turned out to be the biggest factor contributing to the demise of numerous exchanges and ecosystems this year, most recently during the FTX collapse. Korea’s financial authority, Korea Financial Intelligence Unit (KoFIU), took notice of the same as it launched a probe into crypto exchanges in relation to listing their in-house, self-issued tokens. …
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The FTX Sex Tape Leak: What’s Happening Now?
After a lot of buzz revolving around an alleged sex tape involving the infamous founder of FTX exchange, Sam Bankman-Fried and Alameda Research CEO Caroline […] Go to Source
Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission
According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a unified naira exchange rate, the global lender said Nigeria needs to dismantle “the various exchange rate windows at the CBN [Central Bank of …
Former US Regulator Likens FTX and Sam Bankman-Fried to Bernie Madoff and His Ponzi Scheme
Former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair likens the fall of crypto exchange FTX and its former CEO Sam Bankman-Fried to the infamous Ponzi Scheme of Bernie Madoff. “It felt very Bernie Madoff-like in that way,” she said. Former FDIC Chair Compares FTX and Sam Bankman-Fried to Bernie Madoff’s Ponzi Scheme Sheila Bair, …
South Korea Freezes $104 Million in Assets Belonging to Terra Co-Founder
South Korea’s prosecutors have reportedly obtained a court order to freeze assets worth about $104 million belonging to Terraform Labs co-founder Daniel Shin. The authorities allege that he unfairly profited from selling cryptocurrency LUNA at high prices before the token crashed. Shin has denied the allegation. South Korean Authorities Freeze Terraform Labs Co-Founder’s Assets The …
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Bitcoin․com Announces ‘CEX Education Program’ to Reward Victims of Centralized Crypto Failures and Bolster DeFi
press release Bitcoin.com announced the creation of a program that will reward people affected by centralized crypto company insolvencies while encouraging the adoption of decentralized finance and self-custody. The CEX Education Program will draw its resources from Bitcoin.com’s wallet token VERSE, which is launching in December. Five percent of the total VERSE token supply is …
Top Analyst Says Bitcoin Flashing Relative Strength Despite ‘Worst News Fathomable’ – But There’s a Catch
A popular crypto strategist is highlighting Bitcoin’s (BTC) ability to hold current price levels in the face of a major black swan event. The pseudonymous analyst known in the industry as Cred says Bitcoin is flashing relative strength despite the collapse of crypto exchange FTX. At its height, FTX was considered the third-largest crypto exchange …