Archives
![Crypto prices recover amid plans by Binance, others to aid cash-short projects post FTX failure 1 Ethereum and Bitcoin gold tokens](https://forkast.news/wp-content/uploads/2022/09/ethereum-and-bitcoin-2021-08-26-23-03-01-utc-1260x841.jpg)
Crypto prices recover amid plans by Binance, others to aid cash-short projects post FTX failure
Exchanges to the rescue? Cash is reportedly being made available to help blockchain and crypto projects caught in the fallout of the FTX exchange collapse.
![Vitalik Buterin seeks to build proof-of-reserves protocol with Binance as ‘guinea pig,’ says Binance chief 2 Changpeng Zhao, founder and CEO of Binance, spoke on Monday at an AMA on Tiwtter.](https://forkast.news/wp-content/uploads/2022/11/AMA.jpg)
Vitalik Buterin seeks to build proof-of-reserves protocol with Binance as ‘guinea pig,’ says Binance chief
Ethereum founder Vitalik Buterin is looking to develop a proof-of-reserves protocol and Binance may be the “guinea pig” and serve as its first test case, said Binance chief Changpeng Zhao.
![Crypto.com claims user funds safe despite 'accidental' Ether transaction 3 Kris Marszalek, Crypto.com CEO, in Q&A session](https://forkast.news/wp-content/uploads/2022/11/kris2-1260x697.png)
Crypto.com claims user funds safe despite ‘accidental’ Ether transaction
The chief executive of Crypto.com, said the exchange’s exposure to FTX when it shut was under US$10 million.
![Mining rig maker Canaan’s stocks fall as Q3 profits shrink 4 Canaan unveiled two Avalon Made A13 series models in October.](https://forkast.news/wp-content/uploads/2022/11/Timmy2-1260x709.png)
Mining rig maker Canaan’s stocks fall as Q3 profits shrink
Cryptocurrency mining rig maker Canaan posted shrinking revenues and profits in the third quarter of this year, as the crypto bear market continued to plague the mining industry.
![Binance says it will set up crypto recovery fund, industry standards group 5 Changpeng Zhao, founder and chief executive of Binance, spoke at the B20 Summit in Indonesia on Monday.](https://forkast.news/wp-content/uploads/2022/11/CZ-B20-1260x709.jpg)
Binance says it will set up crypto recovery fund, industry standards group
Changpeng Zhao, founder and chief executive of Binance, tells the B20 Summit in Indonesia that the world’s largest cryptocurrency exchange aims to help improve business and operation standards in the crypto industry.
![Why DeFi is in dire straits — and what could save it 6 stacked crypto coins and wooden blocks with DEFi text](https://forkast.news/wp-content/uploads/2022/11/defi-or-decentralized-finance-concept-2022-10-24-22-41-54-utc-1260x840.jpg)
Why DeFi is in dire straits — and what could save it
DeFi remains unusable for all beyond a niche community, writes Dennis Jarvis of Bitcoin.com. ‘Should it stay like this, it will never attract a wide audience.’
![Hong Kong said it remains upbeat on digital assets after FTX debacle 7 How tokenization could transform Hong Kong’s fixed income markets](https://forkast.news/wp-content/uploads/2022/05/How-tokenization-could-transform-Hong-Kongs-fixed-income-markets.png)
Hong Kong said it remains upbeat on digital assets after FTX debacle
Hong Kong remains bullish on virtual assets in the financial sector after the FTX debacle, while maintaining the view that regulation of businesses is a prerequisite for market development.
![Former Huobi CEO Leon Li offers US$14 mln loan to cover funds locked in FTX 8 Huobi logo on Busan's city nightview | Huobi becomes third global exchange to sign with S.Korea’s Busan city | huobi busan, busan crypto, huobi south korea, huobi exchange, south korea crypto news](https://forkast.news/wp-content/uploads/2022/09/busan-huobi-1260x945.png)
Former Huobi CEO Leon Li offers US$14 mln loan to cover funds locked in FTX
Huobi Global’s ex-CEO Leon Li has extended a US$14 million loan to New Huo Technology after a subsidiary had US$18 million of cryptocurrency locked in the bankrupt FTX exchange.
![FTX, authorities investigate potential US$477 mln theft 9 FTX, authorities investigate potential US$477 mln theft](https://forkast.news/wp-content/uploads/2022/11/Hacker-1260x709.png)
FTX, authorities investigate potential US$477 mln theft
FTX officials confirmed on Sunday that unauthorized transactions have drained millions of remaining user funds from wallets over the weekend.
FTX bankruptcy and fallout: Monday updates and commentary
The following is a running compilation of views and comments on the FTX bankruptcy and implications for the industry.
![S.Korea summons ex-Terra exec Daniel Shin over US$100M in LUNA gains 10 Terraform Labs cofounders Daniel Shin (left) and Do Kwon (right) | S.Korea summons ex-Terra exec Daniel Shin over US$100M in LUNA gains | do kwon, terraform labs, daniel shin](https://forkast.news/wp-content/uploads/2022/11/shin-do-kwon-1260x945-1.png)
S.Korea summons ex-Terra exec Daniel Shin over US$100M in LUNA gains
Daniel Shin has been summoned by South Korean prosecutors to attend an investigation as a suspect for allegedly earning ill-gotten profits with LUNA.
![Bahamian regulator contradicts FTX, says no approval given for fund withdrawals 11 ftx logo and bahamas flag frozen | FTX assets frozen by Bahamas securities regulator | ftx, ftx bahamas, sam bankman fried](https://forkast.news/wp-content/uploads/2022/11/ftx-bahamas-frozen-1260x945.png)
Bahamian regulator contradicts FTX, says no approval given for fund withdrawals
Regulators in the Bahamas, where FTX is headquartered, say the bankrupt exchange’s claims that Bahamian fund withdrawals were requested by officials are false.
![AAX crypto exchange says it is suspending withdrawals amid FTX fallout 12 AAX exchange logo, Hong Kong city | AAX crypto exchange suspends withdrawals amid FTX fallout | aax crypto exchange, ftx, sam bankman fried](https://forkast.news/wp-content/uploads/2022/11/aax-hk-1260x945.png)
AAX crypto exchange says it is suspending withdrawals amid FTX fallout
Hong Kong-based crypto exchange AAX is suspending withdrawals for seven to 10 days for a scheduled system upgrade to protect users.
![Crypto prices slide as investors pull funds on concerns other exchanges may follow FTX implosion 13 Bitcoin sitting on a grey background. | Markets: Crypto prices slide as investors pull funds from global exchanges after FTX collapse](https://forkast.news/wp-content/uploads/2022/11/bitcoin44-1260x840.jpg)
Crypto prices slide as investors pull funds on concerns other exchanges may follow FTX implosion
The collapse of one of the world’s biggest crypto exchanges last week has investors worried about the finances of other trading platforms. Cold wallet time?
![Singapore’s central bank partners New York Fed to explore wholesale CBDCs 14 Singapore](https://forkast.news/wp-content/uploads/2022/11/singapore2-2-1260x751.jpg)
Singapore’s central bank partners New York Fed to explore wholesale CBDCs
The Monetary Authority of Singapore (MAS) has partnered The New York Innovation Center of the Federal Reserve Bank of New York, to study if wholesale central bank digital currencies (wCBDCs) can make cross-border payments more efficient.
![FTX files for bankruptcy, Sam Bankman-Fried steps down as CEO 15 SBF 3](https://forkast.news/wp-content/uploads/2022/11/SBF-3-1260x709.jpg)
FTX files for bankruptcy, Sam Bankman-Fried steps down as CEO
FTX.com, FTX US and 130 additional affiliates have filed for bankruptcy, its new CEO John J. Ray III says.
![Tron's Justin Sun stresses 'due diligence' needed before considering FTX bailout 16 Tron founder Justin Sun | Debt, equity investment “on the table” for FTX rescue, Justin Sun says | justin sun, ftx, ftx tron, ftx news](https://forkast.news/wp-content/uploads/2022/11/FPFm6XpacAQvHVL-1260x840.jpeg)
Tron’s Justin Sun stresses ‘due diligence’ needed before considering FTX bailout
Tron founder Justin Sun’s plans to save FTX include debt, equity investments and a full takeover, he told BloombergTV on Friday, Asia time.
![Binance chief says FTX bailout deal ‘didn’t make sense’ 17 CZ](https://forkast.news/wp-content/uploads/2022/11/CZ-indonesia-1260x709.jpg)
Binance chief says FTX bailout deal ‘didn’t make sense’
Changpeng Zhao, founder of the world’s largest crypto exchange, said its earlier pledge to acquire FTX fell through partially due to regulatory concerns.
![Could FTX woes bring on another crypto freeze resembling Terra-Luna? 18 FTX logo, with a frozen mountain in the background](https://forkast.news/wp-content/uploads/2022/11/FTX-Freeze-1260x709.png)
Could FTX woes bring on another crypto freeze resembling Terra-Luna?
Crypto exchanges and lending platforms are starting to use the dreaded F word for Freeze amid worries about the possible collapse of FTX.com, part of one of the world’s biggest cryptocurrency trading networks.
![FTX Japan resumes withdrawals, FTX Turkey firms up plans 19 bitcoin](https://forkast.news/wp-content/uploads/2022/11/crypto-3-1260x840.jpg)
FTX Japan resumes withdrawals, FTX Turkey firms up plans
FTX Japan, the Japanese arm of the embattled crypto exchange FTX.com, said on Friday it has resumed yen withdrawals after the country’s Financial Services Agency (FSA) ordered the exchange on Thursday to suspend operations and put together a “business improvement plan.”
![Shark Tank’s Kevin O’Leary says ‘FTX still has value,’ its story still being written 20 Kevin O’Leary, chairman of venture capital firm O’Leary Ventures](https://forkast.news/wp-content/uploads/2022/11/OLeary-1260x709.png)
Shark Tank’s Kevin O’Leary says ‘FTX still has value,’ its story still being written
While FTX’s cash crunch has rattled global markets and investors, a White Knight investor could quickly turn the tide for the company, O’Leary told Forkast in an interview.
![Markets: Bitcoin, Ether prices rise as crypto market shows sign of pick-up 21 Bitcoin](https://forkast.news/wp-content/uploads/2022/10/Bitcoin3-1260x840.jpg)
Markets: Bitcoin, Ether prices rise as crypto market shows sign of pick-up
Bitcoin and Ether strengthened in Friday afternoon trading in Asia, reversing some of Wednesday’s and Thursday’s sharp losses. All other top 10 cryptocurrencies by market capitalization, excluding stablecoins, also increased.
![SEC gets more support in XRP lawsuit against Ripple 22 Ripple Vs SEC Images](https://forkast.news/wp-content/uploads/2022/11/Ripple-Vs-SEC-Images-1260x709.jpg)
SEC gets more support in XRP lawsuit against Ripple
Three more companies and organizations have requested to weigh in on the ongoing lawsuit the SEC filed in 2020 against Ripple.
![FTX liquidity crunch leads to contagion fears; Friday updates and running commentary 23 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](https://forkast.news/wp-content/uploads/2022/11/ftx-1260x945.png)
FTX liquidity crunch leads to contagion fears; Friday updates and running commentary
The following is a running compilation of views and comments on the possible short- and long-term outcomes of FTX’s liquidity crunch.
![FTX US warns user trading could be halted ‘in a few days’ 24 FTX.US warns user trading could be halted ‘in a few days’](https://forkast.news/wp-content/uploads/2022/11/Picture3-1260x708.png)
FTX US warns user trading could be halted ‘in a few days’
Sam Bankman-Fried says FTX US is insulated from FTX.com’s liquidity crunch, but the American-based platform could freeze trading in the next few days.
U.S. regulators reportedly talking with Binance over failed FTX bail out
US regulators want to know more about what Binance discovered when it took a look at FTX’s books, and then canceled a bailout deal.
![California financial regulator launches probe into FTX 25 Sam Bankman-Fried, DFPI logo | California financial regulator launches probe into FTX | ftx news, ftx bankruptcy, ftx insolvency, sam bankman fried](https://forkast.news/wp-content/uploads/2022/11/calif-sam-1260x945.png)
California financial regulator launches probe into FTX
The state of California has launched an investigation into the ‘apparent failure’ of crypto asset platform FTX.
![Markets: Bitcoin, Ether gain in crypto market rebound off slowing U.S. inflation 26 Bitcoin coins and money on the business desk | Bitcoin coins and money on the business desk](https://forkast.news/wp-content/uploads/2022/11/Bitcoinmoney-1260x840.jpg)
Markets: Bitcoin, Ether gain in crypto market rebound off slowing U.S. inflation
Bitcoin rose on Friday in Asia along with Ether and most other major tokens, reversing a three-day slump as the Consumer Price Index (CPI) released Thursday showed inflation in the U.S. slowed in October.
![FTX assets frozen by Bahamas securities regulator 27 ftx logo and bahamas flag frozen | FTX assets frozen by Bahamas securities regulator | ftx, ftx bahamas, sam bankman fried](https://forkast.news/wp-content/uploads/2022/11/ftx-bahamas-frozen-1260x945.png)
FTX assets frozen by Bahamas securities regulator
The Securities Commission of the Bahamas has frozen assets of FTX and related parties, and has suspended its registration.
![Sam Bankman-Fried apologizes in first tweet since Binance saga: I F***** Up 28 NEW YORK, NEW YORK - JUNE 23: Sam Bankman-Fried speaks onstage during the first annual Moonlight Gala benefitting CARE - Children With Special Needs - hosted by Michael Cayre, Roy Nachum and MegaMoon Museum at Casa Cipriani on June 23, 2022 in New York City. (Photo by Craig Barritt/Getty Images for CARE For Special Children )](https://forkast.news/wp-content/uploads/2022/10/GettyImages-1241501470-1260x709.jpg)
Sam Bankman-Fried apologizes in first tweet since Binance saga: I F***** Up
Sam Bankman-Fried sent his first series of tweets since Binance announced and then scrapped an offer to buy his cash-strapped cryptocurrency exchange. He apologized, acknowledged mistakes and said he will do right by FTX users.
![FTX Japan ordered to suspend operations by the country’s regulators 29 SBF: FTX CEO Sam Bankman-Fried](https://forkast.news/wp-content/uploads/2022/10/Story-2-1260x709.png)
FTX Japan ordered to suspend operations by the country’s regulators
FTX Japan was ordered by the country’s Financial Services Agency (FSA) to suspend operations until Dec. 9 and put together a “business improvement plan.”
![Industry reacts: FTX bankruptcy fears rise after Binance scraps rescue 30 Sam Bankman-Fried, founder and former CEO of FTX](https://forkast.news/wp-content/uploads/2022/11/Sam-BF-1260x706.jpg)
Industry reacts: FTX bankruptcy fears rise after Binance scraps rescue
There are not many white knight investors that are large enough to bail out the embattled crypto exchange, industry insiders say.
![Bitcoin gains 5% as U.S. inflation slows down in October 31 US inflation](https://forkast.news/wp-content/uploads/2022/11/USA-1260x630.jpg)
Bitcoin gains 5% as U.S. inflation slows down in October
Bitcoin gained 5% after the U.S. Bureau of Labor Statistics reported that the consumer price index (CPI), a key inflation indicator, rose 0.4% in October from September. CPI was up 7.7% from a year earlier, less than the expected 7.9%, and down from 8.2% in September. October’s CPI recorded the smallest 12-month increase since January.
FTX allegedly used customer assets in Alameda bailout: report
A portion of the bailout package worth at least US$4 billion that FTX’s Sam Bankman-Fried sent to Alameda Research was allegedly comprised of customer funds.
![Crypto exchange outflows rise amid FTX fiasco 32 Over 5.2 billion stablecoins left crypto exchanges on Wednesday, the most in five months, on-chain data showed.](https://forkast.news/wp-content/uploads/2022/11/All-Stablecoins-Exchange-Outflow-Total-All-Exchanges-1260x794.png)
Crypto exchange outflows rise amid FTX fiasco
Over 5.2 billion stablecoins left crypto exchanges on Wednesday, the most in five months, on-chain data showed.
![FTX debacle has crypto industry pointing finger at regulators in call for clear rules of the road 33 US Bitcoin](https://forkast.news/wp-content/uploads/2022/11/crypto-2-1260x840.jpg)
FTX debacle has crypto industry pointing finger at regulators in call for clear rules of the road
The FTX.com unraveling has prompted crypto industry leaders to demand clearer rules of the road for trading digital assets.
![Sequoia Capital marks down US$214 mln FTX stake to zero 34 Ex-FTX CEO Sam Bankman-Fried | Binance’s pending acquisition, rescue of FTX may attract attention of antitrust regulators](https://forkast.news/wp-content/uploads/2022/11/SBF-1260x840.jpg)
Sequoia Capital marks down US$214 mln FTX stake to zero
Venture capital firm Sequoia Capital has written down its entire US$213.5 million investment in FTX, the company revealed in a tweet on Thursday.
![Binance the winner in FTX saga, set to gain more customers 35 Global economy recovery, Business Economic growth. Financial, industrial and market sector comeback and upturn concept. Paper red arrow graph with medical plaster going upward in blue background.](https://forkast.news/wp-content/uploads/2022/11/global-economy-recovery-business-economic-growth-2021-09-01-23-58-33-utc-1-1260x709.jpg)
Binance the winner in FTX saga, set to gain more customers
Binance may have nixed the deal to bailout rival exchange FTX.com, but it could still gain a big chunk of FTX’s business as investors flee the platform.
![US regulators DoJ, SEC, CFTC probe crypto platform FTX 36 regulators](https://forkast.news/wp-content/uploads/2022/11/regulators-1260x527.jpg)
US regulators DoJ, SEC, CFTC probe crypto platform FTX
US regulators the Department of Justice, the Securities and Exchange Commission and the Commodity Futures Trading Commission are probing beleaguered crypto exchange FTX.
![What a difference a day makes: Options for FTX after Binance ditches buyout? 37 Former FTX.com CEO Sam Bankman-Fried. | Bankman-Fried alleges new FTX CEO’s testimony is “false”](https://forkast.news/wp-content/uploads/2022/12/SBF-2-1260x840.jpg)
What a difference a day makes: Options for FTX after Binance ditches buyout?
Binance cites due diligence on FTX books for pulling out of a deal to buy FTX.com, sending markets into a tailspin and leaving Bankman-Fried in need of another buyer… fast.
Ark Invest swoops in to buy US$21.4 mln in Coinbase shares
Cathie Wood’s Ark Invest seized the opportunity provided by Wednesday’s market downturn to snatch a considerable chunk of Coinbase stock.
![Why fears of a dying NFT market are overblown 38 close up photo of NFT coins with neon lighting](https://forkast.news/wp-content/uploads/2022/11/Forkast-Opinion-Images-5-1260x710.png)
Why fears of a dying NFT market are overblown
The NFT ecosystem is doing better than what selective data would have us believe, writes Long Do of Anomura. But the sector should know that people want more than just a pretty picture.
![Bitcoin hits lowest price in two years as Binance cancels FTX acquisition 39 CEO of FTX Sam Bankman-Fried. | Bitcoin hits lowest price in two years as Binance pulls out of FTX acquisition](https://forkast.news/wp-content/uploads/2022/11/SBitcoinFried-1260x709.jpg)
Bitcoin hits lowest price in two years as Binance cancels FTX acquisition
Just over 24 hours after news of Binance’s planned acquisition of FTX shook the crypto market, a reversal of that decision sent prices even lower.
![Binance pulls out of FTX buyout; latest updates and commentary 40 Sam Bankman-Fried, CEO of FTX, and ominous cloudy background | Binance officially backs out of FTX acquisition; latest updates | binance ftx, sam bankman fried, ftx](https://forkast.news/wp-content/uploads/2022/11/ftx-ominous-1260x945.png)
Binance pulls out of FTX buyout; latest updates and commentary
The following is a running compilation of views and comments on Binance’s announcement that it will not go ahead with the acquisition of FTX.com.
![Binance likely to back out of FTX deal: report 41 business problems](https://forkast.news/wp-content/uploads/2022/11/binance-1-1260x840.jpg)
Binance likely to back out of FTX deal: report
Binance may scrap its proposal to acquire cryptocurrency exchange FTX, after examining FTX’s “internal data and loan commitments,” according to an unnamed source “familiar with the matter” cited by CoinDesk on Wednesday.
![The fall of FTX “not good for anyone,” CZ says 42 Binance CEO Changpeng Zhao](https://forkast.news/wp-content/uploads/2022/09/cz-1260x627.jpg)
The fall of FTX “not good for anyone,” CZ says
The sudden downfall of top cryptocurrency exchange FTX will bring in more regulatory scrutiny and raise the difficulty of obtaining licenses around the world, Binance founder and chief executive Changpeng Zhao said in an internal note, which he shared with the public via Twitter on Wednesday.
![FTX provided US$4.1 billion bailout to Alameda Research: data 43 Sam Bankman-Fried CEO of FTX](https://forkast.news/wp-content/uploads/2021/07/Sam-Bankman-Fried-CEO-of-FTX-1260x709.jpg)
FTX provided US$4.1 billion bailout to Alameda Research: data
FTX exchange sent Alameda Research 173 million FTT tokens on Sept. 28, worth US$4.1 billion at the time.
![Singapore’s Temasek holds stake in FTX, a target of Binance takeover 44 Singapore skyline. Singapore court issues ‘landmark’ NFT decision, allows papers to be served via blockchain](https://forkast.news/wp-content/uploads/2022/10/singapore-skyline-2021-08-26-18-13-05-utc-1260x840.jpg)
Singapore’s Temasek holds stake in FTX, a target of Binance takeover
Singapore’s state-owned investment firm Temasek is a shareholder in embattled cryptocurrency exchange FTX, which faces a possible takeover by bigger rival Binance
![Binance's Changpeng Zhao emerges as 'winner on all fronts’ of FTX acquisition 45 ROME, ITALY - MAY 12: Binace CEO Chanpeng Zhao poses during the visits SS Lazio training sport centre on May 12, 2022 in Rome, Italy. (Photo by Marco Rosi - SS Lazio/Getty Images)](https://forkast.news/wp-content/uploads/2022/11/GettyImages-1396873148-1260x709.jpg)
Binance’s Changpeng Zhao emerges as ‘winner on all fronts’ of FTX acquisition
Commonly known as “CZ,” the Chinese-Canadian founder of Binance appears to have stolen Sam Bankman-Fried’s shine, coming out of the FTX acquisition with the most to gain.
![Binance boosts emergency insurance fund to US$1 billion on market volatility 46 binance](https://forkast.news/wp-content/uploads/2022/11/binance-1260x944.jpg)
Binance boosts emergency insurance fund to US$1 billion on market volatility
Binance, the world’s largest cryptocurrency exchange, has raised its emergency insurance fund “SAFU” to US$1 billion equivalent in cryptocurrencies, founder Changpeng Zhao said in a Tweet on Wednesday.
![Crypto exchanges see more withdrawals over fears of FTX liquidity 47 Former FTX.com CEO Sam Bankman-Fried. | Bankman-Fried alleges new FTX CEO’s testimony is “false”](https://forkast.news/wp-content/uploads/2022/12/SBF-2-1260x840.jpg)
Crypto exchanges see more withdrawals over fears of FTX liquidity
Large volumes of stablecoins moved out of exchanges, including KuCoin, OKX, Kraken, Huobi and Binance over the past week.
![What could Binance gain from FTX's wider investments? 48 Binance CEO Changpeng Zhao and FTX CEO Sam Bankman-Fried](https://forkast.news/wp-content/uploads/2022/11/Binance-and-FTX-Winner-takes-all-1260x709.png)
What could Binance gain from FTX’s wider investments?
FTX has invested in many projects through its FTX Ventures arm, contributing to two of the 10 biggest blockchain and crypto funding rounds in the industry. Here are the top five investments FTX has been involved in.
![Binance set to swallow FTX as run on exchange allows CZ to swoop 49 Binance set to swallow FTX as run on exchange allows CZ to swoop](https://forkast.news/wp-content/uploads/2022/11/Binance-set-to-swallow-FTX-as-run-on-exchange-allows-CZ-to-swoop-1260x709.png)
Binance set to swallow FTX as run on exchange allows CZ to swoop
Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.
![Markets: Bitcoin, Ether slump eases but market sell-off continues 50 Ex-FTX CEO Sam Bankman-Fried | Binance’s pending acquisition, rescue of FTX may attract attention of antitrust regulators](https://forkast.news/wp-content/uploads/2022/11/SBF-1260x840.jpg)
Markets: Bitcoin, Ether slump eases but market sell-off continues
Bitcoin recovered slightly in Wednesday afternoon trading in Asia after hitting a year-low of US$17,604 this morning amid news of Binance’s takeover of the FTX exchange following speculation of solvency issues at FTX, although several coins extended their declines.
![‘Pharma bro’ Martin Shkreli to Do Kwon: jail isn't that bad 51 Martin Shkreli (top center) and Do Kwon (top right) on UpOnly podcast | ‘Pharma bro’ Martin Shkreli to Do Kwon: jail isn't that bad | do kwon, martin shkreli, do kwon uponly, binance ftx, sam bankman fried](https://forkast.news/wp-content/uploads/2022/11/uponly-1260x730.png)
‘Pharma bro’ Martin Shkreli to Do Kwon: jail isn’t that bad
“Pharma bro” Martin Shkreli has tried to reassure Terra chief Do Kwon that life in jail is “not the worst”, while they discussed the Binance-FTX deal on the UpOnlyTV podcast.
![Binance’s pending acquisition of FTX may attract attention of antitrust regulators 52 Ex-FTX CEO Sam Bankman-Fried | Binance’s pending acquisition, rescue of FTX may attract attention of antitrust regulators](https://forkast.news/wp-content/uploads/2022/11/SBF-1260x840.jpg)
Binance’s pending acquisition of FTX may attract attention of antitrust regulators
Binance chief executive officer Changpeng Zhao already runs the world’s largest cryptocurrency exchange so just what are his ambitions?
![Binance becomes white knight for fallen FTX: How did we get here? 53 Binance becomes white knight for FTX: How did we get here?](https://forkast.news/wp-content/uploads/2022/11/Picture4-1260x709.png)
Binance becomes white knight for fallen FTX: How did we get here?
Binance steps in with deal to buy FTX.com, but with so many moving parts to consider how messy could this pending acquisition get?
![Coinbase says it has minimal exposure to FTX, downplays risk 54 Coinbase](https://forkast.news/wp-content/uploads/2022/03/coinbase-1260x838.jpg)
Coinbase says it has minimal exposure to FTX, downplays risk
Coinbase said new users have registered on the exchange, while the crypto exchange claimed it has limited exposure to the underwater crypto exchange FTX.
![Binance buys FTX: Updates on what it means for the crypto industry 55 binance ftx logo and dark clouds | Binance buys FTX: What does it mean for the crypto industry? | binance buys ftx, binance ftx, sam bankman fried](https://forkast.news/wp-content/uploads/2022/11/binance-ftx-1260x945.png)
Binance buys FTX: Updates on what it means for the crypto industry
The following is a running compilation of views and comments on Binance’s takeover of the FTX exchange amid speculation of solvency problems at FTX.
![Markets: Bitcoin hits year low, Ether slumps as Binance rescue of FTX unnerves investors 56 Pile of shining Bitcoins | Bitcoin hits year low, Ether slumps as Binance rescue of FTX unnerves investors](https://forkast.news/wp-content/uploads/2022/11/bitcoinnew-1260x840.jpg)
Markets: Bitcoin hits year low, Ether slumps as Binance rescue of FTX unnerves investors
Bitcoin fell to a year’s low of US$17,603 in Tuesday morning trading in Asia as Binance Global Inc.’s takeover of the FTX exchange unnerved investors.
Binance agrees to acquire FTX following liquidity crunch
Binance, the world’s largest cryptocurrency exchange, has agreed to acquire rival exchange FTX, Sam Bankman-Fried announced on Tuesday.
![Japan’s NTT Docomo to develop Web 3.0 with Accenture, Astar Network 57 NTT Docomo](https://forkast.news/wp-content/uploads/2022/11/NTT-Docomo-1260x840.jpg)
Japan’s NTT Docomo to develop Web 3.0 with Accenture, Astar Network
NTT Docomo, Japan’s largest mobile phone operator, has partnered information technology firm Accenture and blockchain infrastructure Astar Network to explore Web 3.0 adoption.
![Bitcoin miner Riot Blockchain’s stock drops amid widening Q3 losses 58 mining facility](https://forkast.news/wp-content/uploads/2022/11/riot-1260x630.jpg)
Bitcoin miner Riot Blockchain’s stock drops amid widening Q3 losses
Stocks of Nasdaq-listed Riot fell 4.87% in pre-market trading on Tuesday, after U.S. Bitcoin miner Riot Blockchain on Monday reported weaker revenues in the third quarter of this year.
![Markets: Bitcoin, Ether prices drop; Matic the only coin to gain 59 Various cryptocurrencies in a winter background](https://forkast.news/wp-content/uploads/2022/09/Forkast-Opinion-Images-10-1260x710.png)
Markets: Bitcoin, Ether prices drop; Matic the only coin to gain
Bitcoin and Ether slumped in Tuesday afternoon trade in Asia, with almost every other top 10 cryptocurrencies by market capitalization, excluding stablecoins, also losing ground. For the second consecutive day, polygon was the only coin that strengthened.
![U.S. midterms: gridlock... and progress on crypto industry regulation? 60 The U.S. Capitol dome behind the U.S. House of Representatives. | U.S. midterm election may mean more progress on crypto industry regulation](https://forkast.news/wp-content/uploads/2022/11/Congress-1260x840.jpg)
U.S. midterms: gridlock… and progress on crypto industry regulation?
In a period of toxic divide between the Democrats and Republicans, the need to figure out how to regulate the growing cryptocurrency industry is one of the few issues both parties seem to agree on.
![Japan’s Web 3.0 lawmaker urges further easing of country’s crypto regulation 61 Tokyo skyline and Masaaki Taira | Japan’s Web 3.0 lawmaker urges further ease to country’s crypto regulation | japan crypto, japan web3, fumio kishida](https://forkast.news/wp-content/uploads/2022/11/tokyo-maasari_-1260x945.png)
Japan’s Web 3.0 lawmaker urges further easing of country’s crypto regulation
Japan needs to further relax rules for its crypto industry, said lawmaker of Japan’s ruling Liberal Democratic Party Masaaki Taira.
![Sam Bankman-Fried’s FTX token falls more than 20% amid Binance feud 62 Graphs](https://forkast.news/wp-content/uploads/2021/09/MarketCrash-1260x840.jpg)
Sam Bankman-Fried’s FTX token falls more than 20% amid Binance feud
Crypto exchange FTX’s native token, FTT, fell more than 20% in afternoon trading in Asia amid speculation rival exchange Binance is selling off the FTX token.
![Alameda says ‘wasn’t us’ amid speculation about BitDAO’s 20% plunge 63 BitDAO price](https://forkast.news/wp-content/uploads/2022/11/bitDAO.jpg)
Alameda says ‘wasn’t us’ amid speculation about BitDAO’s 20% plunge
BitDAO, or BIT, the token supported by crypto exchange Bybit, dropped more than 20% within an hour at one stage around noon on Tuesday in Asia.
![DeFi still has a long way to go before mass adoption 64 Word DeFi in gold and gold crypto coins, grayscale photo of people walking](https://forkast.news/wp-content/uploads/2022/11/Forkast-Opinion-Images-3-1260x710.png)
DeFi still has a long way to go before mass adoption
Decentralized finance will stay niche unless the sector overcomes its myriad problems, including a lack of a credit system and regulations that inspire greater trust, writes Brian Pasfield.
![Seizure, guilty plea in US$3.36 bln stolen Silk Road Bitcoin case 65 SDNY](https://forkast.news/wp-content/uploads/2022/07/SDNY-1260x840.jpg)
Seizure, guilty plea in US$3.36 bln stolen Silk Road Bitcoin case
The U.S. Department of Justice revealed on Monday that in 2021 it seized US$3.36 billion worth of stolen Bitcoin from Georgia real estate developer James Zhong.
CZ vs. SBF tweet exchange is no ‘fight,’ Binance CEO claims
Binance chief executive officer Changpeng Zhao (CZ) said in a Twitter thread that he had no intention of picking a fight with FTX CEO Sam Bankman-Fried.
![Zuckerberg’s Meta plans to lay off thousands of employees: WSJ report 66 Man packing his stuff and Meta logo | Zuckerberg’s Meta plans mass layoff to affect many thousands: report | meta layoff, meta horizon worlds, meta news, meta stock](https://forkast.news/wp-content/uploads/2022/11/metalayoff-1260x945.png)
Zuckerberg’s Meta plans to lay off thousands of employees: WSJ report
Meta Platforms Inc. is planning its first significant mass layoff later this week that may affect many thousands of employees.