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Will the next wave of FTX victims be unwitting tax cheats?

When a crypto exchange fails, will your transaction records vanish, too? Here’s why investors should take responsibility over their own trading data.

S.Korean prosecutors mull second request of arrest warrant for Terra cofounder Daniel Shin

Seoul judge dismisses prosecutors’ request for arrest warrant for Terra’s Daniel Shin, derails their plan to investigate Shin in custody

Australian crypto exchange Swyftx cuts 40% of jobs amid fallout from FTX collapse

Australian cryptocurrency exchange Swyftx cut 90 staff members — or 40% of its workforce — to prepare for a “worst-case scenario” in the market from the collapse of FTX.com.

Coinbase CEO Armstrong says Bankman-Fried’s US$8 bln ‘accounting error’ doesn’t stand up

Coinbase Global Inc. Chief Executive Brian Armstrong said Sam Bankman-Fried’s explanation of sloppy accounting as the reason US$8 billion moved from his crypto exchange FTX to brokerage arm Alameda Research doesn’t stand up to scrutiny.

Sam Bankman-Fried ‘not sure’ if he will testify before Congress on Dec. 13

Sam Bankman-Fried, founder and former chief executive officer of failed cryptocurrency exchange FTX, tweeted on Monday morning Hong Kong time that he may not testify before the U.S. Congress on Dec. 13.

Wemade in talks with Binance for custody of WEMIX cryptocurrency

Wemade Co. Ltd. said its in talks to have Binance Institutional Services take custody of its native cryptocurrency, WEMIX.

Crypto exchange Bybit to cut 30% of staff to ‘navigate market slowdown’

Cryptocurrency exchange Bybit plans to cut 30% of its staff as part of a company reorganization, cofounder and chief executive officer Ben Zhou said in a statement shared with Forkast on Sunday.

Cold comfort: Is Crypto Winter the right time to invest in Web3?

Amid the current crypto market carnage, Web3’s appeal for investors remains solid — and perhaps even stronger — says CVP NoLimit Holdings founder Gin Chao.

Hong Kong crypto exchange AAX has lost most staff, unlikely to reopen, says former executive

The exchange has gone silent since pausing withdrawals and liquidating all futures positions, with users fearing a repeat of the FTX collapse.

DeFi protocol Ankr to buy US$5 mln of BNB to cover funds lost in exploit

Decentralized finance (DeFi) protocol Ankr will buy US$5 million worth of BNB – the token of cryptocurrency exchange Binance – to compensate liquidity providers affected by Friday’s exploit

Digital ID Ready?

As the Philippine government ties to roll out a hugely ambitious ID system, we take a look at how blockchain could make data more secure.

Markets: Bitcoin, Ether slip; Dogecoin leads decline across most top 10 cryptos

Bitcoin and Ether fell in Asian trading on Thursday afternoon, with other top 10 non-stablecoin cryptocurrencies also mostly down

NFT sales rise for first time in 7 months in November despite crypto price slump

NFT investors seemingly see opportunities in a month full of surprises and headwinds for the broader cryptocurrency market.

MetaComp becomes the latest crypto exchange to receive Singapore license

Singapore-based crypto exchange MetaComp has been granted Singapore’s license, enabling it to offer digital asset exchange and custody services to institutional investors.

S.Korea court to settle MIR4 maker Wemade, WEMIX legal battle

Following a hearing on Friday, the court is expected to finalize its decision on an injunction Wemade filed against four exchanges.

Coinbase disables NFT transfer on iOS app, citing hefty in-app fees

Cryptocurrency exchange Coinbase has disabled its non-fungible token transfer feature for iOS users, citing a dispute over Apple’s in-app purchase policy.

Terra cofounder Daniel Shin makes court appearance for arrest warrant review

Terra cofounder Daniel Shin attended a court hearing on Friday morning in South Korea that will decide on local prosecutors’ request to issue an arrest warrant.

Sam Bankman-Fried says not aware of any improper use of funds in FTX downfall

Sam Bankman-Fried, founder of failed cryptocurrency exchange FTX, said he did not know of any improper use of customer funds at his company, in an interview with ABC News. 

S. Korea energy conglomerate builds US$84 mln metaverse fund

Daesung’s venture capital subsidiary recently established a fund worth 110 billion Korean won (US$84.5 million) for expanding investments into metaverse startups.

Markets: Bitcoin dips back below US$17,000, Ether falls, Dogecoin leads losers list

Bitcoin fell back below US$17,000 in Friday morning trading in Asia. Ether and all other non-stablecoin top 10 cryptocurrencies by market capitalization also lost ground.

VPN in China may be at risk as users report connection issues on Twitter

VPN services, a reliable tool for Chinese internet users to bypass the Great Firewall, are reporting connectivity issues in the mainland after anti-lockdown protest content flooded Twitter.

Sam Bankman-Fried points blame for FTX collapse to Alameda, says he was blindsided

Bankman-Fried beamed into New York from the Bahamas to give his version of what happened at FTX, mentioning his own failure of oversight and being “frankly surprised” by what was going on at his company’s sister brokerage.

FTX collapse will blunt activities of North Korea hackers, analyst says

The collapse of FTX.com and its far-reaching impacts will hinder North Korea’s ability to profit from cryptocurrency hacks, says one analyst.

Meta’s Mark Zuckerberg is still optimistic about the metaverse

Meta’s Mark Zuckerberg said that he remains optimistic about the future of the metaverse over a “five-to-ten-year horizon” despite widespread skepticism of his company’s venture into the technology.

Troubled Hong Kong crypto exchange AAX unlikely to reopen, says former executive

Hong Kong-based crypto exchange AAX is likely to end operations and restructure, former head of communications, Ben Caselin, told CoinDesk TV on Wednesday.

South Korea’s Shinhan Bank starts ‘metaverse’ services, according to local media

Shinhan has opened a metaverse to provide financial and non-financial services, claiming to be the first bank in the country to provide such a platform.

U.S. crypto exchange Kraken to lay off 30% of its workforce, cites ‘market conditions’

U.S.-based crypto exchange Kraken said it will lay off 30% of its global workforce, or approximately 1,100 people, to “adapt to current market conditions.”

Indonesia central bank releases whitepaper on digital rupiah, to develop wholesale CBDC first

Indonesia’s central bank has released a whitepaper detailing plans for its central bank digital currency (CBDC), as the country looks to “advance digital transformation.”

Telegram plans decentralized crypto exchange, wallets following FTX collapse

Telegram plans to build non-custodial wallets and decentralized exchanges for cryptocurrencies following the collapse of the FTX exchange says CEO Pavel Durov.

Binance re-enters Japan with acquisition of regulated Sakura Exchange BitCoin

Binance returned to the Japanese market with the acquisition of regulated crypto exchange Sakura Exchange BitCoin (SEBC), according to a blog post on Wednesday.  See related article: Binance to help S. Korea’s Busan build first city-backed exchange Fast facts See related article: Crypto exchange Binance in regulators’ crosshairs as scrutiny mounts 

Grayscale holdings questioned amid crypto investment giant’s silence

Top blockchain and crypto news: Grayscale’s cryptic reserves. Binance rides to the rescue? China hit by protests and digital dissent.

S.Korea requests warrant to bring Terra-Luna cofounder Daniel Shin into custody

A court in South Korea will review if prosecutors are allowed to arrest and bring Terraform cofounder Daniel Shin and seven others into custody, for charges including fraud.

China activists use NFTs, decentralized technology to counter censorship

Many are minting NFTs and posting articles on Matters, a decentralized content-sharing platform, amid protests across China against Covid-19 lockdowns that turned political.

FTX’s LedgerX prepping US$175 mln for bankrupt parent firm

FTX subsidiary LedgerX is reportedly preparing US$175 million for its parent company’s bankruptcy proceedings, according to unnamed sources cited by Bloomberg on Wednesday.

Sony launches motion capture wearables for the metaverse

Sony Japan unveiled Mocopi, a set of wearable motion-tracking sensors that captures user movements that are reflected by virtual avatars

Dominica releases ‘world’s first’ national crypto token with Huobi, Tron

The Commonwealth of Dominica in the Caribbean reportedly issued its national crypto token, DMC, on Tuesday, in partnership with crypto exchange Huobi Global, TronDAO and DMC Labs.

Swiss crypto bank SEBA Bank expands to Hong Kong

Swiss crypto bank SEBA Bank announced on Wednesday the opening of its Hong Kong office to serve global institutional clients as part of its Asia-Pacific expansion. See related article: Hong Kong said it remains upbeat on digital assets after FTX debacle  Fast facts See related article: Hong Kong needs engineering talent to reclaim role as […]

Digital Currency Group receives offers to buy CoinDesk: report

CoinDesk, an online crypto news site, has attracted potential buyers to take over the media outlet from Digital Currency Group amid market turmoil, Semafor reported.

S. Korea releases ethical guidelines for the metaverse

South Korea’s science ministry released a guideline of core ethical principles for metaverse application participants.

Coinbase wallet ends support for ETC, BCH, XRP, XLM

The largest U.S.-based cryptocurrency exchange Coinbase Global Inc. announced that its wallet will no longer be supporting Ethereum Classic (ETC), Bitcoin Cash (BCH), XRP and Stellar (XLM).

CeFi vs DeFi

FTX’s collapse has now led to another crypto service filing for bankruptcy. Could this be the end for centralized exchanges?

CeFi must adopt DeFi’s transparency following FTX collapse, Justin Sun says

Justin Sun says CeFi must adopt DeFi’s transparency to regain public trust as 1inch Network cofounder Sergej Kunz sees crypto’s struggles as an opportunity for DeFi.
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FTX to resume paying wages

FTX Trading and its affiliates will resume paying wages to employees globally and to some non-U.S. contractors and service providers

BlockFi files for bankruptcy protection, set to sue Sam Bankman-Fried over collateral

The cryptocurrency lender was hit by the earthquake set off across the industry by the collapse and bankruptcy of the FTX crypto exchange this month, and other companies are looking vulnerable.

ECB’s Christine Lagarde: Further crypto regulation ‘absolute necessity’ following FTX collapse

Christine Lagarde of the European Central Bank said regulating cryptocurrency in the EU is an “absolute necessity” following the collapse of Bahamas-based exchange FTX.com.

Kraken pays over US$360K to US Treasury to settle Iran sanctions allegations

U.S.-based cryptocurrency exchange Kraken has agreed to pay over US$362,000 to settle claims that it violated sanctions against Iran, the Treasury said Monday.

Will the future metaverse amplify the good or the evils of the real world?

The metaverse has the potential to improve access to opportunities and create a better version of the offline world. How do we prevent it from perpetuating society’s ills?

U.S. cryptocurrency lender BlockFi files for Chapter 11 bankruptcy, will lay off about 200 staff

Crypto lender BlockFi Inc. and eight of its affiliates have filed for Chapter 11 bankruptcy reorganization in the U.S.
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Markets: Top 10 crypto fall as BlockFi enters bankruptcy, macroeconomic concerns spread

Bitcoin and Ether fell in Tuesday morning trading in Asia as U.S.-based crypto lender Blockfi filed for bankruptcy overnight in what is seen as another casualty of the collapse of the FTX exchange this month.

LINE’s crypto exchange BITFRONT announces closure, to suspend trading by 2023

LINE’s cryptocurrency exchange based in the U.S., BITFRONT, has announced closure on Monday to shift its focus to developing LINE’s blockchain ecosystem.

U.S., S. Korea applied for over 75% of world’s metaverse patents: report

Companies based in the U.S. and South Korea have filed for more than 75% of patent applications related to the metaverse, VR and AR.

NFT images of anti-lockdown protests in China flood OpenSea

Pictures taken from protests against China’s zero-Covid policy across the mainland are now for sale on OpenSea, the largest NFT marketplace, as non-fungible tokens (NFT).  See related article: ‘Voice of April’ NFTs highlight Shanghai struggles amid lockdown  Fast facts See related article: Bitcoin price follows slide in Asia equity markets amid growing China protests against […]

Nigeria seeks distinction between digital assets and crypto 

Nigeria seeks to advance digital asset trading in the country but is drawing a distinction between digital assets and cryptocurrencies.

Terra-Luna cofounder Daniel Shin may face fraud charges in South Korea, prosecutors say

South Korean prosecutors may charge Terraform Labs cofounder Daniel Shin with fraud for promoting the Terra stablecoin as a payment method despite multiple warnings from financial regulators that it was against the law.

Changpeng Zhao says Binance has ‘no negative balances involved’ in proof of reserves

Changpeng Zhao tweeted that Binance’s proof of reserves have “absolutely no negative balances involved” after the exchange released its PoR on Friday.

Australian fintech firm launches new AUD stablecoin, AUDE

Australian blockchain fintech startup Ettle Pty Ltd. has completed the first transaction on its recently launched Australian dollar-pegged stablecoin, AUDE.

Markets: Bitcoin little changed, Dogecoin leads pack in muted morning of trading

Bitcoin was little changed in Monday morning trading amid mixed results from the other top 10 non-stablecoin cryptocurrencies following a relatively muted few days of trading over the Thanksgiving weekend in the U.S.

Binance releases proof of reserves

The world’s largest cryptocurrency exchange Binance released its proof of reserves (PoR) on Friday to provide transparency on user funds.

Can crypto return?

Terra, 3AC and now FTX, it’s been a difficult year, but can crypto come back stronger?

Markets: Bitcoin, Ether fall; Litecoin leads decline across most top 10 crypto

Bitcoin and Ether fell in Asian trading on Thursday afternoon, with Litecoin seeing the steepest drop in declines across most top 10 non-stablecoin cryptocurrencies ranked by market capitalization

S.Korean Wemade’s stock falls 30% after exchanges announce WEMIX token delisting; CEO blames Upbit exchange

The delisting poses a great obstacle to the game maker’s growing blockchain empire, while Wemade’s CEO blames the crypto exchange

MetaMask says “we changed nothing” in response to criticism update collects more user data

ConsenSys, which operates the popular cryptocurrency wallet MetaMask, said an update to the wallet has made no change to the data the platform collects from its users, only the wording had changed.

Stablecoin project Ardana on Cardano halts operation

Ardana, a stablecoin project being built on the Cardano blockchain, announced the project has been halted due to funding and uncertainty over its timeline.

Singapore police say they are investigating crypto lender Hodlnaut on fraud allegations

Singapore’s white-collar crime unit is investigating Hodlnaut on allegations of fraud, according to a statement on the website of the Singapore police dated Nov. 23.

Binance says it will set up US$1 billion ‘recovery’ fund for distressed crypto businesses

Binance said it will establish a US$1 billion fund for its “Industry Recovery Initiative” to mitigate the damage from the collapse of the FTX exchange. 

Binance CEO Changpeng Zhao says he should have tweeted sooner about FTX woes

The chief executive officer of Binance, Changpeng Zhao, regrets sending ‘too late’ a tweet that contributed to the collapse of FTX.com.

Russia plans launch of national crypto exchange

Russian lawmakers aim to launch a national cryptocurrency exchange, supported by the country’s Ministry of Finance and the Central Bank of Russia.

Scam Center Slavery?

It’s no secret that crypto scams and fraud are abundant – but those doing the scamming might be victims of something even more sinister.

India’s CoinDCX crypto exchange publishes proof of reserves

Cryptocurrency exchange CoinDCX, India’s first crypto unicorn, published its proof of reserves on Thursday

Fake crypto awards on the rise during football world cup: research

Global cybersecurity firm Kaspersky has warned against fraudsters taking advantage of football fans during the ongoing FIFA World Cup Qatar 2022.

Question: How do financial rules work when rogue individuals run companies? Answer: Not very well.

Calls for tougher rules on cryptocurrency have been echoing ever louder through the offices of global financial regulators since the collapse of the FTX exchange. But the firm did not invent dodgy business practices, so what can regulators and the industry do?
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Digital Currency Group seeks to calm investors over Genesis loans: reports

Barry Silbert of DCG disclosed his company owes a US$575 million loan and a US$1.1 billion promissory note to its subsidiary Genesis Global Capital.