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.

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

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

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

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’

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?

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.
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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.”

FTX Contagion Worries

SBF apologized to FTX customers and investors in a Twitter thread earlier, but can people recover their money?

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

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.
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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.”

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.
, and

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

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

The FTX.com unraveling has prompted crypto industry leaders to demand clearer rules of the road for trading digital assets.

Will Contagion Spread?

Binance backs out of its initial offer to buy FTX. What could happen to FTX next?

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

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

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.

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.

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

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’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

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. 

Binance and FTX – Should you be worried?

Binance has announced its intentions to buy rival exchange FTX. Should you be worried?

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.
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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

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

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.

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. 

The Future of Money

CBDCs are the latest fad amongst central banks around the world – but how can they change our lives?

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.

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.
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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.

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

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.

Stablecoin, CBDC issues take center stage at Singapore’s Future of Finance Forum

Central bank digital currencies draw fire over inflation, privacy and threat to innovation, as questions raised over status of stablecoins in digital asset ecosystem.

Digital Transformation Boost

How can collaboration help advance digital age and blockchain technologies?

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.

Hong Kong needs engineering talent to reclaim role as digital asset hub

Hong Kong’s latest FinTech policies indicate it wants to reclaim its position as a hub for cryptocurrencies and digital assets, but that means finding the right people for the job.
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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. 

Bitcoin mining difficulty falls 0.2% in latest adjustment

Bitcoin mining difficulty nudged down 0.2% in Monday’s biweekly adjustment, according to data from BTC.com.

LG Electronics seeks Web3 talent for blockchain, NFT efforts

LG Electronics is recruiting chief technical officers (CTOs) to lead the company’s growing Web3 business.

Half a million users move to decentralized alternative Mastodon following Elon Musk Twitter grab

Amid uncertainty and criticism following Elon Musk’s takeover of Twitter, nearly half a million users have flocked to Mastodon, a decentralized alternative.