Latest News
Kraken Slashes 30% Of Its Workforce To Survive Crypto Winter
Crypto exchanges
November 30, 2022
Kraken laid off 30% of its global workforce (around 1,100 employees) to brave the crypto winter.
Telegram CEO Seeks To Launch Crypto Exchange And Non-Custodial Wallets
Crypto exchanges
November 30, 2022
Pavel Durov, the Founder and CEO of Telegram, announced his plans to build a decentralized crypto exchange and non-custodial wallets as a response to FTX's collapse.
Binance Re-enters Japan With SEBC Acquisition Deal
Crypto exchanges
November 30, 2022
Binance has finally re-entered Japan with its SEBC acquisition deal. The exchange is now a JFSA-regulated entity offering crypto-regulated services in Japan.
Brazilian Government Legalizes The Use of Cryptocurrencies For Payments
Economy
November 30, 2022
The Brazilian government makes further steps towards full crypto adoption as it passes a bill to legalize crypto for payment purposes.
US Senator Requests Major Crypto Exchanges To Disclose Consumer Protection Safeguards
Crypto regulation
November 30, 2022
Ron Wyden, the Chairman of the Senate Finance Committee, sent letters to the CEOs of six crypto exchanges asking them to reveal the measures they use to protect clients' funds.
Coinbase Wallet To Drop Support For Ripple, Ethereum Classic, Bitcoin Cash, And Stellar Due To “Low Usage”
Crypto wallets
November 29, 2022
Coinbase Wallet announced its plans to cease support for Ripple (XRP), Ethereum Classic (ETC), Bitcoin Cash (BCH), and Stellar (XLM) starting December 5.
BlockFi Sues Ex FTX CEO Bankman-Fried Over shares in Investment Company Robinhood.
Crypto lending
November 29, 2022
BlockFi launches lawsuit against SBF shell company in a bid to enforce their previous agreement.
FTX Contagion Spreads As BlockFi Files For Chapter 11 Bankruptcy Protection
Crypto lending
November 28, 2022
BlockFi emerged as the latest victim of FTX’s collapse as the crypto lender and eight of its associate firms filed for Chapter 11 bankruptcy.
Aave Pauses Lending Markets For 17 Ethereum-based Tokens
Crypto lending
November 28, 2022
Aave has temporarily frozen lending markets for 17 Ethereum-based tokens. According to the approved proposal, these are low-liquidity asset pools, and their freezing will reduce the risk profile for highly volatile assets.
Binance Transfers 127K Bitcoin To An Unknown Wallet As Part Of Proof-Of-Reserve Audit
Crypto exchanges
November 28, 2022
After Binance moved 127K Bitcoin tokens to an unknown wallet, Changpeng Zhao claimed that the transaction was a part of the exchange's Proof-of-Reserve (PoR) audit.
Kiln Raises $17.6 Million To Expand Its Offerings
Crypto staking
November 28, 2022
Crypto staking platform, Kiln has generated $17.6 million in fundraising led by Illuminate Financial. The fund will be used to expand its staking offerings for both its validators and competitors.
Alameda Research Withdrew $204M From FTX US Before Filing For Bankruptcy
Crypto exchanges
November 26, 2022
Arkham Intelligence reported Alameda Research pulled out crypto assets worth $204M from FTX US before filing for Chapter 11 bankruptcy on November 11.
Alabama State Regulator Begins Investigations On Genesis
Crypto regulation
November 26, 2022
Alabama Securities Commission is investigating Genesis Global for violation of security laws. The regulator aims to ascertain if Genesis enticed residents to invest without proper registration.
Binance Launches Proof of Reserves System In Line With Its Commitment Towards Transparency
Crypto exchanges
November 26, 2022
Binance launches Proof-of-Reserves in a bid to show transparency. The crypto community reacts to this milestone
Crypto Exchange CoinList Refutes Rumours of Bankruptcy and Insolvency
Crypto exchanges
November 26, 2022
CoinList addresses rumors of insolvency and bankruptcy...Highlights reason for pause in withdrawals.
Bitcoin Assets Worth $1.65B Withdrawn From Coinbase In 2 Days
Crypto exchanges
November 25, 2022
Coinbase recorded the third-highest volume of Bitcoin withdrawals as 100K BTC tokens were pulled out of the exchange in the last 48 hours.
TRON Founder Claims Poloniex May Merge With Huobi In The Future
Crypto exchanges
November 25, 2022
Justin Sun, the founder of TRON (TRX), revealed there is a possibility of crypto exchanges Poloniex and Huobi merging in the future.
Matrixport Seeks To Raise $100M To Hit $1.5B Valuation
Crypto lending
November 25, 2022
Matrixport targets $100M in funding to attain a $1.5B valuation after securing $50M from its undisclosed investors.
Binance Commits $1B As Recovery Fund For Distressed Crypto Companies
Crypto exchanges
November 24, 2022
Binance has pledged $1B as an industry recovery fund for distressed crypto companies. The fund established by the exchange will help provide financial support and serve as an avenue for restoring confidence in Web3.
Bybit To Aid Institutional Traders By Launching $100M Support Fund
Crypto exchanges
November 24, 2022
Bybit announced its plans to launch a $100M support fund to help institutional traders and market makers brave the current market conditions.
Binance CEO CZ Confirms Plan To Restart Bid For Bankrupt Crypto Lender Voyager
Crypto lending
November 24, 2022
Binance ready another bid for Voyager's assets while clarifying its status as not a Chinese company.
Crypto Lender Hodlnaut Under Investigation Over Allegations Of Fraud
Crypto lending
November 24, 2022
Holdnaut is under investigation by the Singapore police force due to alleged misinformation and false representation.
FTX Requests Court To Appoint BitGo As Its Official Custodian
Crypto exchanges
November 24, 2022
FTX filed a motion with the bankruptcy court to allow asset custodian BitGo to safeguard its remaining assets.
Vitalik Buterin Shares Lessons the Crypto Industry can take from FTX’s Collapse.
Crypto exchanges
November 24, 2022
Vitalik Buterin of Ethereum suggests the need for centralized crypto exchanges to adopt cryptographic proof of funds.
Crypto Lender BlockFi Places Client Loans Into Forbearance
Crypto lending
November 24, 2022
BlockFi makes further platform moves after stopping customer withdrawals.
Digital Currency Group Owes Intercompany Loans Worth $575M To Genesis
Crypto lending
November 23, 2022
Barry Silbert, the CEO of Digital Currency Group, said the firm owes $575M to Genesis Global Capital, with these intercompany loans due in May 2023.
Attorney Claims Substantial Amount Of FTX’s Assets Are Stolen Or Missing
Crypto regulation
November 22, 2022
James Bromley reported that a large portion of FTX’s assets remain unaccounted for. He claimed that FTX has begun adding measures to safeguard its clients’ assets under the leadership of John J. Ray III.
Singapore Police Investigates Binance For Disobeying Local Payment Service Rules
Crypto regulation
November 22, 2022
Binance is on the radar of the Singapore police for a possible breach of local payment services rules. The exchange has been accused of actively soliciting its Singapore users, regardless of not being licensed in the country.
Court Orders FTX To Reimburse Bahamas Regulators For Holding Its Assets
Crypto regulation
November 22, 2022
The Supreme Court of Bahamas ordered FTX to pay reimbursement fees to the Securities Commission of the Bahamas for holding the firm’s digital assets since November 11.
Genesis Rejects Notions Of Imminent Bankruptcy Filing
Crypto lending
November 22, 2022
Genesis denied rumors of “imminently” submitting bankruptcy filings after failing to raise funds over the last week.
Iris Energy Unplugs Its Miners Following $100M Loan Default
Crypto lending
November 21, 2022
Iris Energy has unplugged many mining machines due to a loan default. The lender has demanded that the payments be made in full immediately, and the hosting arrangements with the facilities have been terminated.
Binance Surpasses Coinbase In Holding The Largest Bitcoin Exchange Reserves
Crypto exchanges
November 21, 2022
CryptoQuant's report revealed that Binance’s Bitcoin reserves have hit the 575K mark, thus making it the exchange with the largest BTC holdings.
Investors Sue Nexo For Blocking $126M Worth Of Crypto
Crypto lending
November 21, 2022
Three investors filed a lawsuit in the London High Court against Nexo for blocking them from withdrawing their crypto assets.
External Examiner Reports Shortfalls In Celsius’ Custody Program
Crypto lending
November 21, 2022
Shoba Pillay, the external examiner in the Celsius bankruptcy case, reported that the lender's Custody program lacked proper “accounting and operational controls or technical infrastructure.”
Court Approves January 3 As Deadline For Celsius Customers to File Claims
Crypto lending
November 20, 2022
The court has approved January 3 as the bar date for all Celsius customers to file their claims. Stretto will send out a notice to all customers through emails, physical mail and notifications on the Celsius app.
Liquid Global Halts Trading Days After Suspending Withdrawals
Crypto exchanges
November 20, 2022
Liquid Global has paused its trading services five days after suspending fiat and crypto withdrawals. This action is in accordance with FTX’s Chapter 11 bankruptcy proceedings in the Delaware Courts.
FTX Hacker Converts Over 30K Ethereum Tokens Into Bitcoin
Crypto exchanges
November 20, 2022
The perpetrator behind the recent FTX hack swapped 30,990 Ethereum tokens (worth $36M) for Bitcoin via RenBridge.
FTX Sacks Three High-Ranking Executives
Crypto exchanges
November 19, 2022
A spokesperson for FTX revealed that the firm has fired Co-Founder Gary Wang, CTO Nishad Singh, and Alameda’s CEO Caroline Ellison.
Bitcoin Lender Unchained Capital Downsizes And Reshuffles Management Amid Bear Market
Crypto lending
November 19, 2022
Bitcoin lender, Unchained Capital, has laid off 15% of its employees and restructured its management. This action is due to the prolonged bear market and not any form of exposure to FTX.
Chairman Of House Subcommittee Seeks Documents On FTX’s Collapse
Crypto regulation
November 19, 2022
The Chair of the Subcommittee on Economic and Consumer Policy has issued a letter to FTX’s former and current CEOs requesting more details on FTX’s collapse.
Bahamian Regulator Claims It Ordered Sam Bankman-Fried To Move FTX Assets To Government Wallets
Crypto regulation
November 18, 2022
The Securities Commission of the Bahamas (SCB) revealed that the agency instructed FTX to transfer assets to government wallets on November 12.
FTX's New CEO Criticizes The Exchange’s Corporate Practices Under Sam Bankman-Fried
Crypto exchanges
November 17, 2022
John Ray III stated that FTX suffered from a complete failure of corporate controls under Sam Bankman-Fried's leadership.
Midas Investments Presents Its Proof of Liquidity
Crypto lending
November 17, 2022
Midas Investments has publicly showcased its Proof of Liquidity, revealing addresses for $91 million AUM out of its $145 million. The platform promised to continue its efforts to update users and promote transparency.
Nexo Reports Zero Exposure To Genesis
Crypto lending
November 16, 2022
Nexo’s latest tweets revealed that the platform does not have any exposure to Genesis after the latter suspended its loan services.
FBI Seeks To Extradite Sam Bankman-Fried For Questioning
Crypto regulation
November 16, 2022
The FBI is reportedly in talks with Bahamian authorities to extradite Sam Bankman-Fried to the US for interrogation on FTX's downfall.
Genesis Global Capital Suspends Loan Redemptions Following FTX Insolvency Crisis
Crypto lending
November 16, 2022
Genesis becomes the latest firm affected by FTX’s collapse as its lending entity halts loan originations and redemptions due to liquidity issues.
Oxygen Protocol Opens Up About Its High Exposure to FTX
Crypto lending
November 16, 2022
Oxygen has revealed it has significant exposure to FTX, stating that the exchange was the custodian for about 95% of the tokens in its ecosystem. The DeFi lender is now looking for ways to protect its ecosystem.
Salt Lending Pauses Withdrawals As FTX Contagion Spreads
Crypto lending
November 15, 2022
Salt has halted withdrawals and deposits due to the impact of FTX’s collapse. The firm states it will not be continuing operations until it is sure about the extent of impact and the way forward.
Bahamas Supreme Court Authorizes Liquidators For FTX Assets
Crypto regulation
November 15, 2022
The Bahamian Supreme Court has approved two insolvency experts from Pricewaterhouse Coopers (PwC) to act as joint provisional liquidators overseeing FTX assets. The Commission continues its investigation and is ready to help the police if needed.
Bitcoin Sees Record Increase In Number Of Holders Who Use Self-Custody Wallets
Custody
November 14, 2022
A recent report published by Glassnode revealed that the number of Bitcoin (BTC) users who have stored their BTC assets in self-custody wallets has hit an all-time high.
Crypto.com Recovers $990M Exposure From FTX
Crypto exchanges
November 14, 2022
Kris Marszalek reported that Crypto.com only has a $10M exposure to FTX as it was able to recover $990M worth of funds from the now-bankrupt crypto exchange.
Binance To Launch Industry Recovery Fund To Support Troubled Crypto Ventures
Crypto exchanges
November 14, 2022
Binance seeks to set up an Industry Recovery Fund to aid crypto projects that are under the threat of a liquidity crunch.
Kraken Freezes Accounts Owned By FTX And Alameda
Crypto exchanges
November 13, 2022
Kraken has frozen FTX and Alameda Research’s accounts due to the recent events surrounding FTX to protect users’ funds.
Voyager Reopens Bidding Process Following FTX Bankruptcy
Crypto lending
November 12, 2022
FTX’s collapse has prompted Voyager to reopen the bidding process for its buyout. The company is in active discussion with other interested companies and is making efforts to ensure maximum value is returned to its customers.
Matrixport’s Exposure To FTX Impacts 79 Users
Crypto lending
November 12, 2022
Matrixport’s Earn products were affected by the insolvency of FTX, resulting in losses to 79 clients.
Sam Bankman-Fried Resigns As FTX Files For Bankruptcy Protection
Crypto exchanges
November 11, 2022
The curtains have finally come down on the FTX liquidity crisis, with the exchange filing for bankruptcy in Delaware’s Federal Court and Sam Bankman-Fried stepping down as its CEO.
Bahamian Financial Regulator Freezes Certain FTX Assets
Crypto regulation
November 11, 2022
The Bahamas Securities Commission has frozen FTX Digital Markets’ assets following allegations against the crypto exchange. As a result, FDM directors cannot make any transaction without the Commission’s approval.
BlockFi’s Leadership Team Page Gets Taken Down
Crypto lending
November 11, 2022
BlockFi's leadership page has been taken down a few hours after the crypto lender began suspending withdrawals.
BlockFi Halts Withdrawals Following FTX/Alameda Crisis
Crypto lending
November 11, 2022
BlockFi has announced that it will limit platform activity, including clients’ withdrawals. This follows the FTX liquidity crunch and a series of reassuring tweets by BlockFi.
Sam Bankman-Fried Seeks To Raise $4.9B For FTX
Crypto exchanges
November 10, 2022
Sam Bankman-Fried reportedly aims to raise $4.9B from investors and other crypto platforms to aid FTX in escaping its liquidity crisis.
Tether Freezes FTX’s $46M Worth Of USDT Assets
Crypto exchanges
November 10, 2022
Tether has frozen FTX’s USD Tether (USDT) balance following instructions from law enforcement authorities.
FTX CEO Publicly Apologizes For Recent Liquidity Crisis
Crypto exchanges
November 10, 2022
Sam Bankman Fried, the CEO of FTX, issued an apology and shed light on the circumstances that led to FTX facing a liquidity crunch.
Binance Publicly Shares Major Asset Holdings To Improve Transparency
Crypto exchanges
November 10, 2022
Binance has disclosed its major asset holdings to the public to improve transparency and foster trust in the industry. The company is making this move the cushion the effects of the FTX bank run.
Celsius Requests Extension For Submitting Restructuring Plan
Crypto lending
November 10, 2022
Celsius filed motions requesting the Court to extend its exclusivity period for submitting a restructuring plan.
Kraken Reports Zero Exposure To Alameda Despite Holding 9K $FTT
Crypto exchanges
November 10, 2022
Kraken stated that it is not affected by the FTX insolvency crisis despite possessing roughly 9,000 FTX Tokens (FTT).
Binance Terminates FTX-Bailout Deal
Crypto exchanges
November 10, 2022
Binance has pulled out of its agreement to purchase FTX after going through the latter's finances.
Ledn Remains Unaffected By FTX’s Liquidity Crisis
Crypto lending
November 10, 2022
Ledn reported that it has not experienced any issues in its operations despite having Alameda Research as one of its counterparties
Crypto Exchanges Agree With Changpeng Zhao’s Proposal To Publish Proof-Of-Reserves
Crypto exchanges
November 9, 2022
Several prominent crypto exchanges, including OKX, Bybit, and KuCoin, have announced their plans to publish Proof-of-Reserves to provide full transparency to their customers.
About $1B Worth of Unstaked Solana To Hit The Market In Less Than 24 Hours
Crypto staking
November 9, 2022
Solana’s troubles intensify as about $1 billion worth of unstaked tokens is set to hit the market in less than 24 hours. There is a high selloff probability by validators, resulting in a major price decline.
Binance Considers Pulling Out Of FTX-Takeover Deal
Crypto exchanges
November 9, 2022
Binance is reportedly considering terminating its acquisition deal with FTX less than a day after signing a non-binding LOI to “save” FTX from a liquidity crunch.
FTX Bank Run: An Unexpected Turn Of Events
Opinion
November 9, 2022
This article covers what led to the downfall of FTX, the lessons, and the potential winners and losers of this event.
Circle CEO Dispels Uncertainty Over Material Exposure To FTX
Crypto exchanges
November 9, 2022
Jeremy Allaire compared FTX's liquidity crunch to the Lehman Brothers crisis and reassured investors that Circle does not have any exposure to FTX or Alameda Research.
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