Indian crypto exchange CoinSwitch says proof of reserves shows sufficient reserves to match clients’ stake
Indian crypto exchange CoinSwitch’s proof of reserves summary, that was shared on Thursday, stated that as of Nov. 4, the exchange’s overall holdings of crypto and fiat balances in Indian Rupees (INR) exceeded those held by the exchange on behalf of its users.
Ripple gets support from Blockchain Association in XRP lawsuit against SEC
U.S. lobby group Blockchain Association, along with other institutions and firms, have formally filed amici briefs to support Ripple Labs Inc. in the ongoing lawsuit between the U.S. SEC and Ripple.
Markets: Bitcoin, Ether fall along with top 10 cryptos, led by Polygon’s Matic
Bitcoin fell during Wednesday afternoon trading in Asia along with all other top 10 cryptocurrencies, excluding stablecoins, led by declines in Polygon’s Matic.
Sam Bankman-Fried regrets bankruptcy filing, blames “messy accounting”: Vox interview
Sam Bankman-Fried, the founder of the FTX, says he regrets the company’s bankruptcy filing, blamed the downfall on “messy accounting” and criticized regulators.
Binance denies UK lawmaker’s allegation it deliberately tripped up FTX
In a submission to the U.K. Parliamentary Treasury Committee, Binance denied that it deliberately sought to sink competitor crypto exchange FTX.
Class action lawsuit targets SBF, celebrity FTX endorsers Tom Brady, Naomi Osaka and others
Sam Bankman-Fried and roughly a dozen of the embattled exchange’s celebrity endorsers are the subject of a class action lawsuit filed by FTX users.
Markets: Bitcoin, Ether fall as FTX implosion, job cuts in tech industry cloud outlook
Bitcoin and Ether prices fell in Thursday morning trading in Asia along with all other top 10 tokens by market capitalization, excluding stablecoins.
Vitalik Buterin sounds warning over risks of DeFi
Ethereum cofounder Vitalik Buterin has sounded a warning against the pitfalls of decentralized finance (DeFi) and self-custody, namely of bugs in smart contract code.
Crypto winter may last until end of 2023: Coinbase research
The collapse of FTX may extend crypto winter to the end of 2023, according to a monthly outlook report by U.S.-based crypto exchange Coinbase dated Nov. 15.
Binance gets Abu Dhabi regulator’s nod to offer crypto custody services
Binance, world’s largest cryptocurrency exchange, has obtained Financial Services Permission from Abu Dhabi’s Financial Services Regulatory Authority (FSRA), to provide custody to professional clients in and from the Abu Dhabi Global Market (ADGM), the international financial center of the UAE’s capital.
Markets: Bitcoin inches up, Ether falls; most top 10 crypto rebound
Bitcoin inched up during Wednesday afternoon trade in Asia while most of the top 10 cryptocurrencies by market capitalization, excluding stablecoins, rallied from recent losses.
Korbit is first South Korean exchange to disclose full crypto reserves, post-FTX debacle
Korbit, one of South Korea’s five fully licensed crypto exchanges, announced Wednesday that it will reveal its full list of crypto reserves.
USDC stablecoin issuer Circle expects slower growth over Binance’s BUSD conversion
Circle, the issuer of U.S. dollar-pegged stablecoin USDC, has said that stronger competition in the stablecoin market is likely to pressure Circle stablecoins, thereby slowing its growth and weighing on the financial outlook of the company.
FTX founder Sam Bankman-Fried to potentially face questioning in US: report
The former CEO of FTX may face questioning by authorities in the U.S. as scrutiny over the role he played in the exchange’s sudden collapse and bankruptcy intensifies.
NFT platform, art collective launch collaboration in aid of Ukraine
NFT platform laCollection has launched a series of collaborations with international artists to raise funds for Ukrainian cultural institutions.
Crypto lender BlockFi faces possible failure amid FTX collapse, WSJ says
BlockFi Inc. is preparing for possible bankruptcy filings after it acknowledged “significant exposure” to bankrupt cryptocurrency exchange FTX.com.
Japan investment manager SoftBank reportedly writes down stake in FTX to zero
Masayoshi Son’s SoftBank Group is having an awful year on the investment front and has now been hit by the FTX failure.
Markets: Bitcoin, Ether rise amid positive inflation data, despite reports of Russian missile strikes in Poland
Bitcoin and Ether rose on Wednesday morning in Asia amid reports of alleged Russian missile strikes on Poland while inflationary data out of the U.S. provided support.
FTX hacker becomes 35th largest Ethereum holder
The address associated with the FTX hack swapped US$48.2 million worth of DAI stablecoins to 37,570 Ether and became the 35th largest holder of the world’s second-largest crypto.
Coinbase officially enters the fray in XRP lawsuit to support Ripple against SEC
U.S.-based cryptocurrency exchange Coinbase has officially submitted its amicus brief to support Ripple in the lawsuit the U.S. SEC filed in 2020 against Ripple.
Retail crypto sees more new users when Bitcoin prices rise: BIS report
A rise in Bitcoin prices is the most important factor for a significant increase in the number of new investors, instead of distrust in public institutions, dislike for traditional banks, or search for a store of value, according to a report by the Bank for International Settlements.
Shark Tank’s Kevin O’Leary says FTX debacle will never happen again
O’Leary remains committed to crypto even after losing his investment in FTX.com, but said that the industry will become more regulated.
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.
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.
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
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
FTX officials confirmed on Sunday that unauthorized transactions have drained millions of remaining user funds from wallets over the weekend.
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
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
Hong Kong-based crypto exchange AAX is suspending withdrawals for seven to 10 days for a scheduled system upgrade to protect users.
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.
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.
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.”
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
Three more companies and organizations have requested to weigh in on the ongoing lawsuit the SEC filed in 2020 against Ripple.
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
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
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
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
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
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.”
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.
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.
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.
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.
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
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
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
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 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.
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.
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
“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.
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
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
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
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
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
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.
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
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
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.
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
Meta Platforms Inc. is planning its first significant mass layoff later this week that may affect many thousands of employees.
Markets: Bitcoin, Ether prices fall with most of crypto top 10, Polygon flips Solana
Bitcoin dipped below US$21,000 in Tuesday morning trading in Asia as Ether and most other tokens in the cryptocurrency top ten by market capitalization, excluding stablecoins, lost ground.
SEC gets more time to file reply briefs in XRP lawsuit against Ripple
The U.S. SEC has received approval from the court to extend the time for all parties to submit reply briefs, in the ongoing lawsuit the SEC filed in 2020 against Ripple.
Markets: Bitcoin, Ether fall; Dogecoin interest fades
Bitcoin and Ether dropped in afternoon trading in Asia along with almost every other top 10 cryptocurrency by market capitalization, excluding stablecoins. MATIC was the only coin to gain.
Indian crypto exchange WazirX introduces profit, loss function
WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a profit and loss function for users to analyze and calculate their investments.