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US senators call for holding FTX executives accountable to fullest extent of the law

U.S. Senators Elizabeth Warren and Sheldon Whitehouse called for holding former FTX CEO “and any complicit FTX executives” to the fullest extent of the law.

Chinese mafia forcing Filipinos to work for crypto scams, says Philippine Senator

The organized crime gangs victimize both the trafficked and those that get scammed, according to the official

Wallet linked to defunct crypto exchange BTC-e suddenly activates

A wallet address linked to defunct crypto exchange BTC-e sent its largest transaction since August 2017 on Wednesday.

Disgraced FTX founder SBF to speak at New York Times Dealbook Summit despite controversy

Sam Bankman-Fried will speak at a time when he’s reportedly facing investigations with FTX undergoing bankruptcy protection proceedings.

The crash and burn of FTX: What lessons does it teach us?

As FTX victims and creditors sift through the pieces, how much of this blowup should regulators have seen coming — and could it happen again?

Markets: Bitcoin, Ether rise as Fed minutes suggest an easing in interest rate hikes

Bitcoin and Ether were both trading up as the U.S. Federal Reserve released meeting minutes suggesting it is looking to slow the rate of interest rate rises.

Japan’s central bank to test digital yen with three megabanks: report

The Bank of Japan, the country’s central bank, will conduct experiments with three megabanks and regional banks on a digital yen, according to a report by Nikkei on Wednesday. 

New York Attorney General eyes ban of crypto purchases through retirement funds

New York Attorney General (NYAG) Letitia James has recommended prohibiting crypto investments in defined contribution plans and individual retirement accounts (IRAs).

Genesis jitters keep investors on edge as contagion risks grow

Top blockchain and crypto news: Fear stalks crypto as Genesis wobbles. FTX cleanup begins. China’s NFT scene shrinks.

At FTX’s first bankruptcy hearing, lawyer calls out ‘substantial amount’ of missing, stolen assets

In the first day of FTX’s bankruptcy hearing, FTX counsel says the organization was run as ‘personal fiefdom’ of Sam Bankman-Fried.

India’s CoinSwitch launches platform to enable multi-exchange trading with single login

Indian crypto exchange CoinSwitch has launched CoinSwitch Pro, a multi-exchange trading platform that lets users trade crypto assets in Indian Rupees across multiple exchanges with a single login. 

One Bad Apple?

A majority of downfall of FTX was caused by a handful of people, but who else is to blame?

Markets: Bitcoin, Ether prices rise as top 10 cryptos strengthen

Bitcoin and Ether strengthened in Asia trade on Wednesday afternoon, reversing some of their losses on Monday and Tuesday. Top 10 cryptocurrencies by market capitalization, except stablecoins, also increased.

S.Korea’s top regulator says digital assets, virtual assets are different

While the crypto industry grapples with the definition of blockchain-based digital tokens, South Korea wants to nail down the terminology.

CoinMarketCap launches proof-of-reserve tracker for crypto exchanges

CoinMarketCap has introduced a proof-of-reserve tracker for centralized crypto exchanges in a bid to improve transparency.

Coinbase CEO reaffirms exchange’s BTC holdings after CZ’s tweet

Coinbase CEO Brian Armstrong is reassuring users about the financial health of the Nasdaq-listed crypto exchange, following a tweet — since deleted — from CZ of Binance.

Crypto mining firm Foundry to buy mining sites from embattled Compute North

Crypto mining firm Foundry Digital LLC plans to acquire two turnkey crypto mining facilities in the U.S. from troubled Compute North.

S.Korea’s Ifland metaverse launches globally in 49 countries

South Korea’s telecommunications giant SK Telecom (SKT) is launching its Ifland metaverse in 49 countries in North America, Europe, the Middle East and Asia.

New York State passes two-year moratorium on some crypto mining facilities

New York became the first U.S. state to enact a temporary ban on new cryptocurrency mining permits at fossil fuel plants, despite lobbying against the measure. 

Markets: Bitcoin, crypto rise as FTX contagion fears ease

Bitcoin recovered above US$16,000 in Wednesday morning trading as it rose along with Ether and the rest of the crypto top 10 by market capitalization, excluding stablecoins.

Regulators should seek greater disclosure from stablecoin issuers: HK monetary authority researchers

Regulators should seek more disclosure from stablecoin issuers, as stablecoins could transmit risk from markets to traditional finance, according to researchers at the Hong Kong Monetary Authority

Cathie Woods buys the dip as Ark Invest scoops up Coinbase, GBTC shares: Bloomberg

Cathie Wood’s Ark Investment Management has bought over 1.3 million shares of Coinbase Global since the start of November, and 450,000 shares of Grayscale Bitcoin Trust (GBTC).

Crypto exchange Bitget to expand workforce by 50%, registers in Seychelles

Cryptocurrency exchange Bitget plans to hire about 400 more staff, taking its total workforce to 1,200 by the first quarter of 2023, the company said in a statement on Tuesday.

SBF’s parents, FTX executives bought Bahamas property worth US$121 million: Reuters

The parents of Sam Bankman-Fried, along with senior executives of the now-bankrupt FTX, bought at least 19 properties worth nearly US$121 million in the Bahamas over the past two years.

Who’s Next?

Bitcoin falls under $16K as Genesis temporarily halted withdrawals and redemptions.

Warren Buffet’s Berkshire Hathaway warns of scam crypto site with same name

Berkshire Hathaway, the investment conglomerate run by billionaire Warren Buffet, has issued a warning about a fake cryptocurrency website that uses the Berkshire Hathway name.

Football most popular sport among crypto investors: KuCoin survey

Football is the most popular sport among crypto investors and 48% of fans among these investors are interested in trading fan tokens for sports teams during the FIFA World Cup, according to a new survey by Seychelles-based crypto exchange KuCoin. 

Huobi plans Southeast Asia, Europe, Caribbean expansion

Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to ramp up its investments in Southeast Asia and Europe as part of its global expansion, the company said in a statement on Tuesday.

Hong Kong residents spend most time online globally: NordVPN survey

Hong Kong residents spend the most time online – almost half of their lives – mainly watching videos on YouTube followed by scrolling through social media channels, according to a new survey by virtual private network provider NordVPN. 

China’s foreign exchange bureau urges stronger legislation to regulate crypto trade

China should integrate legislation on cryptocurrencies in order to better regulate crypto tradings, said Huang Hui, a deputy director of the Supervision and Inspection Department of State Administration of Foreign Exchange.

US senators urge Fidelity to drop BTC retirement plan after FTX collapse

U.S. Senators Elizabeth Warren, Dick Durbin and Tina Smith asked Fidelity Investments to rethink its decision to grant retirement plan exposure to Bitcoin.

FTX alleged hacker is moving funds to dodge authorities: analysts

The alleged hacker behind the theft of hundreds of millions of dollars from the cryptocurrency exchange FTX is moving the funds around to separate wallets.

Bitcoin price falls to more than two-year low amid growing concerns about FTX fallout

Investors are unnerved by the possibility of more failures among companies linked to the now bankrupt FTX exchange, fearing a repeat of the Terra-Luna stablecoin collapse in May that also brought down other businesses.

Binance says it will hire 600 by year end, bring total employees to 8,000

The world’s largest crypto exchange seeks to hire 600 more employees by the end of this year, its founder and chief executive officer said.

Why digital assets need better infrastructure and risk management

Investor confidence may be shaken, but crypto is here to stay, writes Alex Manson of Standard Chartered’s SC Ventures. Here’s how to restore trust and make the sector more resilient.

Coinbase Custody holds 635,000 BTC on behalf of Grayscale that refuses to share proof of reserves

Coinbase Custody Trust, the institutional investment arm of Coinbase Global, holds 635,000 BTC on behalf of Grayscale Bitcoin Trust, according to a note by Coinbase Custody CEO Aaron Schnarch. Digital investment firm Grayscale has also declined to share proof of reserves, citing security concerns.

FTX Japan readies for resumption of withdrawals by end-2022: report

FTX Japan, a subsidiary of the now-bankrupt FTX.com, is preparing to resume withdrawals by the end of 2022 to Japanese customers, said an unnamed FTX Japan executive to local broadcaster NHK

Singapore’s central bank says not possible to protect local users from FTX fallout

The Monetary Authority of Singapore (MAS) said on Monday that it was not possible for the central bank to protect local users from FTX’s collapse as the crypto exchange operated offshore and was not licensed by MAS.

Do all Web3 projects need a token?

Should we be questioning which Web3 projects need tokens?

Markets: Bitcoin, other tokens add to losses in Asia trading Monday

Bitcoin and Ether extended their losses through late Asian trading on Monday, as did all the top 10 non-stablecoin cryptocurrencies by market capitalization. Dogecoin was the biggest loser. 

S. Korea mulls requirement for digital asset exchanges to compensate sudden withdrawal suspension

South Korea’s FSC is considering a requirement that crypto exchanges offset investor losses for the sudden suspension of withdrawal services.

Bitcoin mining difficulty reaches all-time-high despite slump in price, FTX woes

Bitcoin mining difficulty rose 0.51% to an all-time-high in Monday’s biweekly adjustment, according to BTC.com.

S.Korea examines exchange native tokens after FTX meltdown

S.Korean authorities are looking into self-issued cryptocurrencies that may exist within local exchanges following FTX.com’s FTT-led liquidity crisis.

FTX owes US$3.1 billion to top 50 unnamed creditors, court filing shows

Collapsed cryptocurrency exchange FTX Trading Ltd. and its affiliates owe their 50 largest creditors about US$3.1 billion, according to a court filing. The creditors were not named.

Bankrupt crypto exchange FTX launches strategic review of assets

Eight days after FTX Trading and some 101 affiliated companies filed for Chapter 11 bankruptcy, a strategic review of the group’s global assets was set in motion.

Man Group plans crypto hedge fund despite FTX, market turmoil: report

The world’s largest publicly traded hedge fund manager, Man Group Plc, plans to launch a cryptocurrency exclusive fund.

South Korea, Singapore, Japan biggest users of FTX pre-collapse, says CoinGecko

South Korea, Singapore and Japan were the biggest users of FTX.com based on the number of monthly unique visitors from January to October 2022

Markets: Bitcoin, other crypto start week lower as FTX collapse continues rumble through the industry

Bitcoin and Ether both fell in Monday morning trading in Asia along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization.

FTX requests Chapter 15 bankruptcy case moved to Delaware, hearing on Tuesday

FTX Trading will be at a hearing on Nov. 22 in a bankruptcy court in Delaware, as the troubled exchange seeks to transfer a related case from New York to the Delaware court, according to a court filing.

Ethereum software developer ConsenSys co-launches Ethereum Climate Platform at COP27

Core Ethereum contributor ConsenSys co-launched the Ethereum Climate Platform (ECP) at the COP27 climate change conference in Egypt.

HK crypto over-the-counter service Genesis Block to end trading: Reuters

Genesis Block, a cryptocurrency over-the-counter trading service in Hong Kong, will close its trading portal on Dec. 10, Reuters reported on Friday citing an email the company sent to customers.

Crypto exchange Bullish says it has no exposure to FTX

Crypto exchange Bullish has said it does not have any exposure to now-bankrupt FTX and Alameda Research, and expects FTX’s bankruptcy to have no impact on Bullish’s operations. The exchange is operated by Bullish (GI) Limited and regulated by the Gibraltar Financial Services Commission. 

Bahamas regulator orders transfer of all FTX digital assets to government wallet

The Securities Commission of The Bahamas (Commission) on Nov. 12 ordered the transfer of all digital assets of FTX Digital Markets to a digital wallet controlled by the Commission, for “safekeeping,” in an announcement on Nov. 17.

Markets: Bitcoin, Ether rise as most top 10 cryptos rally

Bitcoin and Ether inched up in Friday evening trade in Asia with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins. Dogecoin and Solana lost ground for a second consecutive day.

Binance to re-bid on bankrupt crypto lender Voyager: report

Binance.US is preparing to re-bid for bankrupt lending platform Voyager Digital’s assets, according to a CoinDesk report.

FTX’s Alameda, affiliates had US$5 bln in liabilities end of Sept, court filing shows

Alameda Research and its affiliates had about US$5.1 billion in liabilities as of Sept. 30, according to a bankruptcy court filing dated Nov. 17.

Genesis crypto broker freezes withdrawals; Winklevoss’s Gemini, S. Korea’s GOPAX exchanges affected

The Genesis brokerage arm of the Digital Currency Group is one of the latest cryptocurrency platforms to lock down withdrawals following the bankruptcy of crypto exchange FTX, and the freeze is spreading.

Terra cofounder Daniel Shin denies $100 mln LUNA cashout: report

Terra cofounder Daniel Shin reportedly told S.Korean prosecutors during an investigation on Thursday that he did not sell LUNA at a high point.

FTX contagion in S.Korea: GOPAX halts Genesis-backed DeFi

S.Korean crypto exchange GOPAX halted withdrawal of principal and interest payments in its DeFi service which brokers products from Genesis.

Australia to revamp cryptocurrency rules after FTX collapse

The country is one of the first to say it will act to set up regulations to prevent a collapse similar to FTX, which filed for bankruptcy protection and froze the assets of hundreds of thousands of investors.

Markets: Bitcoin flat, most crypto top 10 fall as Fed indicates further rate rises

Bitcoin traded little changed Friday morning in Asia, while Ether fell along with most other non-stablecoin top 10 cryptocurrencies by market capitalization.

New FTX chief says lack of controls at bankrupt exchange ‘unprecedented’

John J. Ray III, a Chicago-based lawyer and the new CEO of now-bankrupt crypto exchange FTX, has criticized the lack of “appropriate corporate governance” across FTX Group companies under Sam Bankman-Fried, the founder and former CEO of FTX. 

South Korea freezes Terra cofounder Daniel Shin’s US$104 mln in assets; CEO Do Kwon tweets he was wrong, not fraudulent

Terra’s former executive Daniel Shin’s US$100 million were frozen on Thursday; Do Kwon tweets that the Terra team did everything to save UST

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.

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.

How Hong Kong and Singapore can make Asia the center of crypto’s future

Yes, there is rivalry between the two global finance hubs. But their strengths are also complementary for Asia to become an even bigger crypto powerhouse, writes Lily Z. King.

Singapore’s Temasek writes off US$275 mln in FTX

Temasek says its belief in Sam Bankman-Fried may have been ‘misplaced.’

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.