Search results: Forkast.News

NFT platform laCollection has launched a series of collaborations with international artists to raise funds for Ukrainian cultural institutions.

Daniel Shin’s Chai Corporation, which partnered with Terraform Labs in 2019, is accused of violating capital market rules in past dealings with Terra.

BlockFi Inc. is preparing for possible bankruptcy filings after it acknowledged “significant exposure” to bankrupt cryptocurrency exchange FTX.com.

Masayoshi Son’s SoftBank Group is having an awful year on the investment front and has now been hit by the FTX failure.

What to do when one of the world’s most trusted crypto exchanges implodes? For many it’s finding a safer place for their assets, and that is typically hardware wallets.

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.

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.

The tokenization of property in DeFi differs greatly from the securitization that led to the global financial crisis. In this introductory part of a special series of three articles, Forkast looks at the origins of the phenomenon, what’s new about it, and the promise it holds for investors.

The FTX sage continues and brings in questions about where should we be keeping our crypto.

The failure of cryptocurrency exchange FTX has been compared to the Lehman Brothers collapse in 2008, but it may have more similarity to the bankruptcy of energy trading giant Enron Corp. – an event FTX’s new chief executive officer knows all too well.

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.

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. 

O’Leary remains committed to crypto even after losing his investment in FTX.com, but said that the industry will become more regulated.

Panelists at Forkast’s livestreamed event ‘Crypto Rising: How Top VCs Are Investing Out of Crypto Winter’ shared their thoughts on the future of the industry following FTX.

The following is a running compilation of views and comments on the FTX bankruptcy and implications for the industry.

Unlike the 2008 crash, the government won’t be bailing out FTX’s investors, writes Nick Saponaro of Divi Labs. Will regulators see this as a cue to crack down on exchanges?

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.

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.

The chief executive of Crypto.com, said the exchange’s exposure to FTX when it shut was under US$10 million.

The weekend revealed plenty of the FTX saga – a potential hack and at least US$1 billion of client funds missing.

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.

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.

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 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.

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 officials confirmed on Sunday that unauthorized transactions have drained millions of remaining user funds from wallets over the weekend.

Daniel Shin has been summoned by South Korean prosecutors to attend an investigation as a suspect for allegedly earning ill-gotten profits with LUNA.

Regulators in the Bahamas, where FTX is headquartered, say the bankrupt exchange’s claims that Bahamian fund withdrawals were requested by officials are false.

Hong Kong-based crypto exchange AAX is suspending withdrawals for seven to 10 days for a scheduled system upgrade to protect users.

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?

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.com, FTX US and 130 additional affiliates have filed for bankruptcy, its new CEO John J. Ray III says.

Tron founder Justin Sun’s plans to save FTX include debt, equity investments and a full takeover, he told BloombergTV on Friday, Asia time.

Changpeng Zhao, founder of the world’s largest crypto exchange, said its earlier pledge to acquire FTX fell through partially due to regulatory concerns.

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, 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.”

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

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.

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.

Three more companies and organizations have requested to weigh in on the ongoing lawsuit the SEC filed in 2020 against Ripple.

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.

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.

The state of California has launched an investigation into the ‘apparent failure’ of crypto asset platform FTX.

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.

The Securities Commission of the Bahamas has frozen assets of FTX and related parties, and has suspended its registration.

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 was ordered by the country’s Financial Services Agency (FSA) to suspend operations until Dec. 9 and put together a “business improvement plan.”

There are not many white knight investors that are large enough to bail out the embattled crypto exchange, industry insiders say.

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. 

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. 

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

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 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.

Cathie Wood’s Ark Invest seized the opportunity provided by Wednesday’s market downturn to snatch a considerable chunk of Coinbase stock.

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.

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 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 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 exchange sent Alameda Research 173 million FTT tokens on Sept. 28, worth US$4.1 billion at the time.

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. 

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

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.

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 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 said new users have registered on the exchange, while the crypto exchange claimed it has limited exposure to the underwater crypto exchange FTX.