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Sam Bankman-Fried says not aware of any improper use of funds in FTX downfall

Sam Bankman-Fried, founder of failed cryptocurrency exchange FTX, said he did not know of any improper use of customer funds at his company, in an interview with ABC News. 
man wearing vr goggles mimes square at desk | S.Korea’s energy conglomerate builds US$84M metaverse fund | south korea metaverse, metaverse fund, daesung

S. Korea energy conglomerate builds US$84 mln metaverse fund

Daesung’s venture capital subsidiary recently established a fund worth 110 billion Korean won (US$84.5 million) for expanding investments into metaverse startups.
Bitcoin in the sand. | Markets: Bitcoin dips back below US$17,000, Ether falls, Dogecoin leads losers list

Markets: Bitcoin dips back below US$17,000, Ether falls, Dogecoin leads losers list

Bitcoin fell back below US$17,000 in Friday morning trading in Asia. Ether and all other non-stablecoin top 10 cryptocurrencies by market capitalization also lost ground.
Police form a cordon during a protest against China's strict zero-Covid measures on November 27 in Beijing, China. Image: Kevin Frayer/Getty Images

VPN in China may be at risk as users report connection issues on Twitter

VPN services, a reliable tool for Chinese internet users to bypass the Great Firewall, are reporting connectivity issues in the mainland after anti-lockdown protest content flooded Twitter.
Stack of Bitcoins on top of a laptop. Bitcoin, Ether prices rise, Polygon leads top 10 in gains, Doge, Shib retreat

Markets: Bitcoin, Ether rise with Polygon topping gains in most top 10 cryptos

Bitcoin and Ether increased in Asian trading Thursday afternoon, with all other top 10 non-stablecoin cryptocurrencies mixed
Sam Bankman-Fried spoke virtually at the 2022 New York Times DealBook on November 30, 2022. Image: Thos Robinson/Getty Images

Sam Bankman-Fried points blame for FTX collapse to Alameda, says he was blindsided

Bankman-Fried beamed into New York from the Bahamas to give his version of what happened at FTX, mentioning his own failure of oversight and being “frankly surprised” by what was going on at his company’s sister brokerage.
dprk flag and crypto hacker on computer | North Korea is another victim of FTX collapse, analyst says | lazarus, dprk, north korea crypto hack

FTX collapse will blunt activities of North Korea hackers, analyst says

The collapse of FTX.com and its far-reaching impacts will hinder North Korea’s ability to profit from cryptocurrency hacks, says one analyst.
Meta's CEO Mark Zuckerberg. | Meta’s Mark Zuckerberg is still optimistic about the metaverse

Meta’s Mark Zuckerberg is still optimistic about the metaverse

Meta’s Mark Zuckerberg said that he remains optimistic about the future of the metaverse over a “five-to-ten-year horizon” despite widespread skepticism of his company’s venture into the technology.
AAX exchange logo, Hong Kong city | AAX crypto exchange suspends withdrawals amid FTX fallout | aax crypto exchange, ftx, sam bankman fried

Troubled Hong Kong crypto exchange AAX unlikely to reopen, says former executive

Hong Kong-based crypto exchange AAX is likely to end operations and restructure, former head of communications, Ben Caselin, told CoinDesk TV on Wednesday.
shinamon metaverse | South Korea’s Shinhan Bank starts ‘metaverse’ services | south korea metaverse, shinhan

South Korea’s Shinhan Bank starts ‘metaverse’ services, according to local media

Shinhan has opened a metaverse to provide financial and non-financial services, claiming to be the first bank in the country to provide such a platform.
Kraken or octopus. | Kraken

U.S. crypto exchange Kraken to lay off 30% of its workforce, cites ‘market conditions’

U.S.-based crypto exchange Kraken said it will lay off 30% of its global workforce, or approximately 1,100 people, to “adapt to current market conditions.”
whitepaper of digital rupiah

Indonesia central bank releases whitepaper on digital rupiah, to develop wholesale CBDC first

Indonesia’s central bank has released a whitepaper detailing plans for its central bank digital currency (CBDC), as the country looks to “advance digital transformation.”
Telegram white paper airplane on a blue background

Telegram plans decentralized crypto exchange, wallets following FTX collapse

Telegram plans to build non-custodial wallets and decentralized exchanges for cryptocurrencies following the collapse of the FTX exchange says CEO Pavel Durov.
investor with projected profits on hand; Bitcoin scattered in the background

It’s time for more institutions to adopt blockchain and crypto: Opinion

Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?
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Two Bitcoins sitting on top of U.S. dollars. | Markets: Bitcoin, crypto, rise after Fed Chair Powell hints easing rate hikes.

Markets: Bitcoin, crypto, rise after Fed Chair Powell hints at easing rate hikes

Bitcoin and Ether rose as Fed Chair Jerome Powell said on Wednesday that the central bank may start easing interest rate hikes.

Binance re-enters Japan with acquisition of regulated Sakura Exchange BitCoin

Binance returned to the Japanese market with the acquisition of regulated crypto exchange Sakura Exchange BitCoin (SEBC), according to a blog post on Wednesday.  See related article: Binance to help S. Korea’s Busan build first city-backed exchange Fast facts See related article: Crypto exchange Binance in regulators’ crosshairs as scrutiny mounts 
Dr. Donal Lim on the left and Forkast's Joel Flynn on the right.

Philippine Blockchain Week: Blockchain adoption struggles in the Philippines as businesses ‘invest to survive’

Blockchain adoption in the Philippines is struggling because businesses are focused on survival, according to Dr. Donald Lim, lead convenor at Philippine Blockchain Week in Manila.
rayscale holdings probed amid investment giant’s silence

Grayscale holdings questioned amid crypto investment giant’s silence

Top blockchain and crypto news: Grayscale’s cryptic reserves. Binance rides to the rescue? China hit by protests and digital dissent.
Terraform Labs cofounders Daniel Shin (left) and Do Kwon (right) | S.Korea requests warrant to bring Terra-Luna cofounder Daniel Shin into custody | daniel shin, do kwon, terraform labs

S.Korea requests warrant to bring Terra-Luna cofounder Daniel Shin into custody

A court in South Korea will review if prosecutors are allowed to arrest and bring Terraform cofounder Daniel Shin and seven others into custody, for charges including fraud.
Ethereum's year-end price outlook lowered

Markets: Bitcoin rises, Ether leads gains across most top 10 non-stablecoin cryptos

Bitcoin and Ether strengthened in Asian trading on Wednesday afternoon, with Ether the biggest gainer among top 10 non-stablecoin cryptocurrencies that also generally increased.  See related article: Diverging paths of two CEOs running FTX’s Alameda Research may meet again in court  Fast facts See related article: Dominica releases ‘world’s first national’ crypto token with Huobi, […]
Protesters hold up a white piece of paper against censorship as they march during a protest against Chinas strict zero COVID measures on Nov. 27 in Beijing.

China activists use NFTs, decentralized technology to counter censorship

Many are minting NFTs and posting articles on Matters, a decentralized content-sharing platform, amid protests across China against Covid-19 lockdowns that turned political.
Alameda Research's former Co-CEOs Sam Trabucco (left) and Caroline Ellison (right)

Diverging paths of two CEOs running FTX’s Alameda Research may meet again in court

Employee accounts of life at Sam Bankman-Fried’s flagship cryptocurrency trading arm Alameda Research paint a picture of overworked and inexperienced millennials running a ship headed for the rocks: one seemingly escaped.
FTX logo and people in office under distress | FTX liquidity crunch leads to contagion fears; latest updates and commentary | ftx, sam bankman fried, ftx liquidity crisis

FTX’s LedgerX prepping US$175 mln for bankrupt parent firm

FTX subsidiary LedgerX is reportedly preparing US$175 million for its parent company’s bankruptcy proceedings, according to unnamed sources cited by Bloomberg on Wednesday.
Sony's Mocopi — user with Mocopi moving linked with virtual avatar | Sony launches motion capture wearables for the metaverse | sony, vtuber, metaverse

Sony launches motion capture wearables for the metaverse

Sony Japan unveiled Mocopi, a set of wearable motion-tracking sensors that captures user movements that are reflected by virtual avatars
Caribbean, Antilles, Dominica, Roseau, View of the city at dusk

Dominica releases ‘world’s first’ national crypto token with Huobi, Tron

The Commonwealth of Dominica in the Caribbean reportedly issued its national crypto token, DMC, on Tuesday, in partnership with crypto exchange Huobi Global, TronDAO and DMC Labs.
Flag of China and Hong Kong Waving with blue sky

Swiss crypto bank SEBA Bank expands to Hong Kong

Swiss crypto bank SEBA Bank announced on Wednesday the opening of its Hong Kong office to serve global institutional clients as part of its Asia-Pacific expansion. See related article: Hong Kong said it remains upbeat on digital assets after FTX debacle  Fast facts See related article: Hong Kong needs engineering talent to reclaim role as […]
Logos of Digital Currency Group and CoinDesk

Digital Currency Group receives offers to buy CoinDesk: report

CoinDesk, an online crypto news site, has attracted potential buyers to take over the media outlet from Digital Currency Group amid market turmoil, Semafor reported.
wemade logo and black background | S.Korea’s Wemade files injunction against country’s top 4 crypto exchanges | wemade, henry chang, wemix, upbit, wemix delisting, wemix price

S. Korea’s Wemade files injunction against country’s top 4 crypto exchanges

The blockchain game maker fights delisting of its symbolic WEMIX crypto token.
metaverse background and two hands shaking | S.Korea releases ethical guidelines for the metaverse | south korea, metaverse

S. Korea releases ethical guidelines for the metaverse

South Korea’s science ministry released a guideline of core ethical principles for metaverse application participants.
A woman holding open an empty wallet. | Coinbase wallet ends support for ETC, BCH, XRP, XLM

Coinbase wallet ends support for ETC, BCH, XRP, XLM

The largest U.S.-based cryptocurrency exchange Coinbase Global Inc. announced that its wallet will no longer be supporting Ethereum Classic (ETC), Bitcoin Cash (BCH), XRP and Stellar (XLM).
One Bitcoin standing up and another lying on its side on a grey desk. | Markets: Bitcoin, Ether gain as China eases Covid rules amid protests; Dogecoin jumps

Markets: Bitcoin, Ether gain as China eases Covid rules amid protests; Dogecoin jumps

Bitcoin and Ether both rose in Wednesday morning trading in Asia, with all other non-stablecoin top 10 cryptocurrencies also gaining ground as China on Tuesday said it will relax some Covid rules in response to protests.
Young indian business man holding phone reading bank receipt calculating taxes.

India to roll out retail CBDC on Dec. 1

India will launch its retail CBDC pilot on Thursday with plans to gradually expand trials, the RBI announced on Tuesday.
Tron founder Justin Sun | Debt, equity investment “on the table” for FTX rescue, Justin Sun says | justin sun, ftx, ftx tron, ftx news

CeFi must adopt DeFi’s transparency following FTX collapse, Justin Sun says

Justin Sun says CeFi must adopt DeFi’s transparency to regain public trust as 1inch Network cofounder Sergej Kunz sees crypto’s struggles as an opportunity for DeFi.
, and
Dogecoin price prediction for 2022 set lower than February peak

Markets: Bitcoin, Ether rise; top 10 crypto mostly higher with Dogecoin leading gains

Bitcoin and Ether rose in Asian trading on Tuesday afternoon. Top 10 non-stablecoin cryptocurrencies also mostly strengthened, led by gains in Dogecoin and Litecoin
Logo of FTX and mobile phone

FTX to resume paying wages

FTX Trading and its affiliates will resume paying wages to employees globally and to some non-U.S. contractors and service providers
blockfi logo and thunderstorm | BlockFi files for bankruptcy protection, set to sue Sam Bankman-Fried over collateral | blockfi, sam bankman fried, changpeng zhao, ftx, binance

BlockFi files for bankruptcy protection, set to sue Sam Bankman-Fried over collateral

The cryptocurrency lender was hit by the earthquake set off across the industry by the collapse and bankruptcy of the FTX crypto exchange this month, and other companies are looking vulnerable.
European Central Bank President Christine Legarde. | ECB’s Christine Lagarde: Further crypto regulation is ‘absolute necessity’

ECB’s Christine Lagarde: Further crypto regulation ‘absolute necessity’ following FTX collapse

Christine Lagarde of the European Central Bank said regulating cryptocurrency in the EU is an “absolute necessity” following the collapse of Bahamas-based exchange FTX.com.
Kraken exchange logo on a smartphone screen

Kraken pays over US$360K to US Treasury to settle Iran sanctions allegations

U.S.-based cryptocurrency exchange Kraken has agreed to pay over US$362,000 to settle claims that it violated sanctions against Iran, the Treasury said Monday.
People in Metaverse social networks wearing VR glasses

Will the future metaverse amplify the good or the evils of the real world?

The metaverse has the potential to improve access to opportunities and create a better version of the offline world. How do we prevent it from perpetuating society’s ills?
blockfi logo | U.S. cryptocurrency lender BlockFi files for Chapter 11 bankruptcy, will lay off about 200 staff | blockfi, ftx, sam bankman fried

U.S. cryptocurrency lender BlockFi files for Chapter 11 bankruptcy, will lay off about 200 staff

Crypto lender BlockFi Inc. and eight of its affiliates have filed for Chapter 11 bankruptcy reorganization in the U.S.
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Bitcoins sitting ontop of a pile of U.S. bills. | Markets: Top 10 crypto fall as Blockfi enters bankruptcy, macroeconomic concerns spread

Markets: Top 10 crypto fall as BlockFi enters bankruptcy, macroeconomic concerns spread

Bitcoin and Ether fell in Tuesday morning trading in Asia as U.S.-based crypto lender Blockfi filed for bankruptcy overnight in what is seen as another casualty of the collapse of the FTX exchange this month.
BIFRONT Closure notice | LINE’s crypto exchange BITFRONT announces closure, to suspend trading by 2023 | line blockchain, bitfront, softbank, naver, z holdings

LINE’s crypto exchange BITFRONT announces closure, to suspend trading by 2023

LINE’s cryptocurrency exchange based in the U.S., BITFRONT, has announced closure on Monday to shift its focus to developing LINE’s blockchain ecosystem.
digital financial trading chart with the word blockchain on tiles

Blockchain is transforming capital markets, and Singapore is leading the way: Opinion

Asset tokenization and DeFi hold tremendous potential for the finance sector, writes Han Kwee Juan of DBS Bank. Here’s how the Singaporean government is at the forefront of change.
illustration of virtual world/metaverse | U.S., S. Korea applied for over 75% of world’s metaverse patents: report | metaverse, vr, ar

U.S., S. Korea applied for over 75% of world’s metaverse patents: report

Companies based in the U.S. and South Korea have filed for more than 75% of patent applications related to the metaverse, VR and AR.
opensea 1

NFT images of anti-lockdown protests in China flood OpenSea

Pictures taken from protests against China’s zero-Covid policy across the mainland are now for sale on OpenSea, the largest NFT marketplace, as non-fungible tokens (NFT).  See related article: ‘Voice of April’ NFTs highlight Shanghai struggles amid lockdown  Fast facts See related article: Bitcoin price follows slide in Asia equity markets amid growing China protests against […]
Nigeria to become the first African country to launch a CBDC

Nigeria seeks distinction between digital assets and crypto 

Nigeria seeks to advance digital asset trading in the country but is drawing a distinction between digital assets and cryptocurrencies.
Terraform Labs cofounders Daniel Shin (left) and Do Kwon (right) | Terra-Luna cofounder Daniel Shin may face fraud charges in South Korea, prosecutors say | daniel shin, do kwon, terraform labs

Terra-Luna cofounder Daniel Shin may face fraud charges in South Korea, prosecutors say

South Korean prosecutors may charge Terraform Labs cofounder Daniel Shin with fraud for promoting the Terra stablecoin as a payment method despite multiple warnings from financial regulators that it was against the law.
Binance founder and CEO Changpeng Zhao. Image: Binance/Youtube

Changpeng Zhao says Binance has ‘no negative balances involved’ in proof of reserves

Changpeng Zhao tweeted that Binance’s proof of reserves have “absolutely no negative balances involved” after the exchange released its PoR on Friday.
Bitcoin price follows slide in Asia equity markets amid growing China protests against Covid-19 lockdowns

Bitcoin price follows slide in Asia equity markets amid growing China protests against Covid-19 lockdowns

Reports of civil disobedience, protests and clashes with the police in cities and universities in China are unnerving financial markets in Asia
Australian bank notes

Australian fintech firm launches new AUD stablecoin, AUDE

Australian blockchain fintech startup Ettle Pty Ltd. has completed the first transaction on its recently launched Australian dollar-pegged stablecoin, AUDE.
A number of Bitcoins laying on a table. | Markets: Bitcoin little changed, Dogecoin leads pack in muted morning of trading

Markets: Bitcoin little changed, Dogecoin leads pack in muted morning of trading

Bitcoin was little changed in Monday morning trading amid mixed results from the other top 10 non-stablecoin cryptocurrencies following a relatively muted few days of trading over the Thanksgiving weekend in the U.S.
fundraising

Singapore’s Matrixport eyes US$100 mln fundraiser at US$1.5 bln valuation

Singapore-based crypto lender Matrixport is hoping to raise US$100 million at a valuation of US$1.5 billion, according to a Bloomberg report citing unnamed sources.  
Binance

Binance releases proof of reserves

The world’s largest cryptocurrency exchange Binance released its proof of reserves (PoR) on Friday to provide transparency on user funds.
Sam Bankman-Fried, founder and former chief executive officer of cryptocurrency exchange FTX.

Sam Bankman-Fried could face decades in jail if convicted of law violations in FTX collapse, lawyers say

The former CEO of the collapsed crypto exchange “needs to keep his mouth shut” and stop making public comments that could be used against him in future court cases, lawyers tell Forkast.

Markets: Bitcoin, Ether fall; Litecoin leads decline across most top 10 crypto

Bitcoin and Ether fell in Asian trading on Thursday afternoon, with Litecoin seeing the steepest drop in declines across most top 10 non-stablecoin cryptocurrencies ranked by market capitalization
henry chang, wemade CEO | S.Korean Wemade’s stock fall 30% after announcing WEMIX token delisting; CEO blames Upbit exchange | wemade, henry chang, wemix, wemix token, mir4, wemix 3.0

S.Korean Wemade’s stock falls 30% after exchanges announce WEMIX token delisting; CEO blames Upbit exchange

The delisting poses a great obstacle to the game maker’s growing blockchain empire, while Wemade’s CEO blames the crypto exchange
Fox walking around in the grass. | Web3 wallet MetaMask responds to criticism that recent update collects users data: “we changed nothing”

MetaMask says “we changed nothing” in response to criticism update collects more user data

ConsenSys, which operates the popular cryptocurrency wallet MetaMask, said an update to the wallet has made no change to the data the platform collects from its users, only the wording had changed.
blockchain

Stablecoin project Ardana on Cardano halts operation

Ardana, a stablecoin project being built on the Cardano blockchain, announced the project has been halted due to funding and uncertainty over its timeline.
screenshot of Hodlnaut's website

Singapore police say they are investigating crypto lender Hodlnaut on fraud allegations

Singapore’s white-collar crime unit is investigating Hodlnaut on allegations of fraud, according to a statement on the website of the Singapore police dated Nov. 23.
Doctor inspecting piggy bank with stethoscope, economy recession due to global COVID-19 coronavirus world pandemic outbreak,financial hardship & uncertain future,health care,life savings & insurance

Binance says it will set up US$1 billion ‘recovery’ fund for distressed crypto businesses

Binance said it will establish a US$1 billion fund for its “Industry Recovery Initiative” to mitigate the damage from the collapse of the FTX exchange. 
Changpeng CZ Zhao, CEO of crypto exchange Binance

Binance CEO Changpeng Zhao says he should have tweeted sooner about FTX woes

The chief executive officer of Binance, Changpeng Zhao, regrets sending ‘too late’ a tweet that contributed to the collapse of FTX.com.
close up of ethereum on a stack of bitcoin golden coins. | Markets: Bitcoin little changed, Ether rises ahead of ‘Shanghai’ upgrade, XRP climbs

Markets: Bitcoin little changed, Ether rises ahead of ‘Shanghai’ upgrade, XRP climbs

Bitcoin traded little changed Friday morning in Asia, while Ether rose amid a mixed performance by the top 10 non-stablecoin cryptocurrencies by market capitalization.
Bitcoincash 1

Crypto exchange Bybit establishes US$100 million fund to aid institutional clients

Crypto exchange Bybit has established a US$100 million fund to support its institutional clients

Russia plans launch of national crypto exchange

Russian lawmakers aim to launch a national cryptocurrency exchange, supported by the country’s Ministry of Finance and the Central Bank of Russia.
coindcx

India’s CoinDCX crypto exchange publishes proof of reserves

Cryptocurrency exchange CoinDCX, India’s first crypto unicorn, published its proof of reserves on Thursday
Solana

Markets: Bitcoin, Ether extend gains; Solana leads rise across most top 10 cryptos

Bitcoin and Ether increased in Asia trade on Thursday afternoon. The top 10 non-stablecoin cryptocurrencies by market capitalization also mostly rose, with Solana leading gains
football fans

Fake crypto awards on the rise during football world cup: research

Global cybersecurity firm Kaspersky has warned against fraudsters taking advantage of football fans during the ongoing FIFA World Cup Qatar 2022.

Hex Trust bags virtual asset license from Dubai

Digital asset custodian Hex Trust received the MVP license from Dubai’s Virtual Assets Regulatory Authority on Nov. 24.
Sam Bankman-Fried and Bernie Madoff.

Question: How do financial rules work when rogue individuals run companies? Answer: Not very well.

Calls for tougher rules on cryptocurrency have been echoing ever louder through the offices of global financial regulators since the collapse of the FTX exchange. But the firm did not invent dodgy business practices, so what can regulators and the industry do?
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Bitcointablet 2

Digital Currency Group seeks to calm investors over Genesis loans: reports

Barry Silbert of DCG disclosed his company owes a US$575 million loan and a US$1.1 billion promissory note to its subsidiary Genesis Global Capital.
Elizabeth Warren

US senators call for holding FTX executives accountable to fullest extent of the law

U.S. Senators Elizabeth Warren and Sheldon Whitehouse called for holding former FTX CEO “and any complicit FTX executives” to the fullest extent of the law.
Rescued pig-butchering human trafficking victims. Image: Senate Session No. 29, November 21, 2022

Chinese mafia forcing Filipinos to work for crypto scams, says Philippine Senator

The organized crime gangs victimize both the trafficked and those that get scammed, according to the official

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