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.
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.
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.
Over 5.2 billion stablecoins left crypto exchanges on Wednesday, the most in five months, on-chain data showed.
The FTX.com unraveling has prompted crypto industry leaders to demand clearer rules of the road for trading digital assets.
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 the Department of Justice, the Securities and Exchange Commission and the Commodity Futures Trading Commission are probing beleaguered crypto exchange FTX.
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.
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.
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.
Singapore’s state-owned investment firm Temasek is a shareholder in embattled cryptocurrency exchange FTX, which faces a possible takeover by bigger rival Binance
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, 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.
Large volumes of stablecoins moved out of exchanges, including KuCoin, OKX, Kraken, Huobi and Binance over the past week.
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.
Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.
“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 chief executive officer Changpeng Zhao already runs the world’s largest cryptocurrency exchange so just what are his ambitions?
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 said new users have registered on the exchange, while the crypto exchange claimed it has limited exposure to the underwater crypto exchange FTX.
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.
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, the world’s largest cryptocurrency exchange, has agreed to acquire rival exchange FTX, Sam Bankman-Fried announced on Tuesday.
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.
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.
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.
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.
Central bank digital currencies draw fire over inflation, privacy and threat to innovation, as questions raised over status of stablecoins in digital asset ecosystem.
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’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.
WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a profit and loss function for users to analyze and calculate their investments.
KakaoBank, one of South Korea’s online-only banks with nearly 20 million users, said it will start providing accounts for users of Coinone exchange in November.
Bitcoin and Ether fell in Monday morning trading in Asia as the crypto market gave up some gains made on the weekend on the back of U.S. job numbers on Friday.
By excising cryptocurrencies from the ecosystem, crypto-hostile China could steal a march in enterprise blockchain, says Red Date Technology chief Yifan He.
Cryptocurrency exchanges and Web 3.0 companies, including Coinbase and Polygon, have formed the Bharat Web3 Association in India to strengthen regulation and consumer protection for the industry.
San Francisco-based dashcam maker and decentralized mapping service provider Hivemapper issued cryptocurrency tokens HONEY to reward dashcam users for contributing driving data and road imagery on Friday Hong Kong time, according to a press release shared with Forkast.
After dabbling in cryptocurrency product offerings, Goldman Sachs is now offering a service to clients to help analyze tokens and market trends.
Crypto fugitive Do Kwon said to be hiding in Europe, mocks ‘cops from world over’ in series of tweets
The South Korean founder of the collapsed Terra stablecoin faces multiple allegations of wrongdoing, the latest being price manipulation.
Bitcoin and Ether rose in Friday morning trading in Asia. Polygon’s Matic led gains in the top 10 tokens after Instagram said it would use Polygon to integrate NFTs into its platform.
Digital wallet service provider Cryptillian Payment Systems has requested to file an amicus brief to support Ripple Labs Inc. in the latter’s ongoing court battle against the U.S. Securities Exchange Commission (SEC).
‘Bad actor’ or a ‘sliding market’? Blockchain industry leaders at Hong Kong FinTech Week offer insights into the Terra-LUNA crash.
Markets: Bitcoin and Ether fall with crypto top 10 as Fed raises rates 75 bps
Indian Finance Minister Nirmala Sitharaman has urged all Group of 20 (G20) nations, as well as international bodies like the International Monetary Fund and Financial Stability Board, to come together to help regulate crypto assets. See related article: India’s finance minister sees 46% growth in blockchain technology use in next few years Fast facts Sitharaman […]
Top blockchain and crypto news: Hong Kong rethinks digital assets. CBDC to debut in India. China’s e-yuan privacy problem.
Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to move its headquarters to the Caribbean, its new advisory board member Justin Sun said.
While October saw the emergence of two very popular NFT collections, sales failed to break US$500 million in the lowest figures since July 2021.
The issuer of the world’s second-largest stablecoin is joining a fleet of companies in the digital asset industry moving into Singapore. What’s the attraction?
Bitcoin and Ether were little changed in Wednesday morning trading in Asia along with most of the cryptocurrency top 10 by market capitalization, excluding stablecoins.
India’s Central Board of Indirect Taxes & Customs (CBIC), responsible for policy formulation and collection of indirect taxes like the goods and services tax (GST), has asked major cryptocurrency exchanges to provide details on the type of digital coins and tokens being traded and their valuation.
Crypto exchange Coinbase has requested to file an amicus brief in support of Ripple to weigh in on the ongoing lawsuit between the SEC and Ripple.
JPMorgan Chase and Standard Chartered execs were in disagreement at Hong Kong Fintech Week over how significant Bitcoin and the wider crypto industry are.
Cryptocurrency exchanges in Singapore are shifting focus to heavy-hitter investors, such as family offices and financial institutions, in line with the central bank’s warnings about the risks in retail crypto trading.
Hong Kong reveals digital asset policies to distinguish itself from China, where cryptocurrency trading was banned in September last year.
South Korea-based blockchain game developer Wemade is working on a fix for WEMIX after four major crypto exchanges in the country added the cryptocurrency to an “investment warning” list for inaccurately reporting circulation numbers.
The founder of crypto exchange FTX, which moved out of Hong Kong in 2021, said that the city could emerge as a Web3, blockchain and cryptocurrency hub.
A hearing is scheduled in Singapore on a lawsuit filed against Terraform Labs’ Do Kwon on behalf of investors who lost about US$57 million in the collapse of Terra-LUNA.
Trading volume on cryptocurrency exchange Crypto.com has slumped about 90% in the 12 months since the company’s “fortune favors the brave” ad.
Bitcoin and Ether fell in Monday morning trading in Asia, along with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins.
Visa International Service Association on Oct. 22 filed two trademark applications that hinted at plans of launching a crypto wallet.
Binance has confirmed its participation in Tesla Chief Executive Officer Elon Musk’s Twitter acquisition as an equity investor.
When China banned cryptocurrency trading and mining in September 2021, it was feared that policy would make its way into Hong Kong. Seems that concern is getting a rethink.
India has witnessed an increase in drug smuggling using cryptocurrencies and the darknet, according to the country’s Home Minister Amit Shah.
The United Kingdom High Court has shut down PGI Global UK Ltd. for allegedly running a crypto scam and has appointed the official receiver as the company’s liquidator.
Binance CEO Changpeng Zhao believes education is key to a wider, safer adoption of blockchain technology.
Bankman-Fried says the global crypto industry needs a “passporting” policy framework that lowers barriers for crypto businesses.
Ethereum founder Vitalik Buterin has called crypto “the better bet” over gold, and that “gold has less adoption than crypto.”
Pixelated pictures and cartoonish drawings have typically dominated the world of Non-Fungible Tokens (NFTs), but some exhibits at Hong Kong’s Xperience art fair show new means of applying the technology.
Europe’s new MiCA framework for regulating crypto shows the good that can happen when government works with and not against the industry, writes Nick Saponaro of Divi Labs.
Top blockchain and crypto news: Aptos launch falls short. Why FTX chief is calling for crypto regulations. Is Hong Kong paving way for a retail CBDC?
Bitcoin posted a three-week high in afternoon trading in the Asia time zone. Ether led gains across all top 10 cryptocurrencies by market capitalization, with a 12% surge. Cardano’s ADA and Solana’s token also registered double-digit gains.