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Top blockchain and crypto news: DCG under investigation. Lido DAO surges as Ethereum’s Shanghai upgrade looms. Hong Kong burnishes crypto credentials.

Binance Global, the world’s largest crypto exchange, has acknowledged flaws in its systems that allowed its BNB Smart Chain-based BUSD stablecoin to be under-collateralized by up to US$1 billion on at least three occasions, according to a Wednesday report from Bloomberg.

India’s Decimal Point Analytics (DPA), a research and data analytics firm, has received grant funding of up to US$750,000 from The Hashgraph Association, a Switzerland-headquartered non-profit organization, to develop an asset tokenization platform on Hedera’s distributed ledger technology (DLT) network. 

Australian crypto exchange Swyftx is ending its crypto-interest earning product Earn on Tuesday due to a “constantly changing regulatory landscape” in the country, according to a company announcement.

FTX’s collapse triggered a stablecoin sell-off, but we will need them to survive the Crypto Winter, writes Vladimir Gorbunov of Choise.com.

Federal prosecutors have issued subpoenas to several U.S. hedge funds that have dealt with the world’s largest cryptocurrency exchange, Binance Global Inc.

U.S. prosecutors and the Securities and Exchange Commission (SEC) have started to investigate cryptocurrency-focused conglomerate Digital Currency Group (DCG), Bloomberg reported on Saturday, citing unnamed sources.

Cryptocurrency-focused conglomerate Digital Currency Group (DCG) is shutting down its wealth management unit called HQ, CoinDesk, a DCG-owned media outlet, reported on Friday.

Crypto Council’s Sheila Warren hopes to see more of crypto’s real-world use cases emerging in the media next year.

MoneyGram has requested the court to seal certain portions of summary judgment materials in Ripple Labs’ ongoing lawsuit against the SEC.

Ripple Labs Inc. expects a court decision in the first six-months of this year in the case filed against the company by the U.S. Securities Exchange Commission. The SEC sued Ripple in December 2020 for allegedly selling US$1.3 billion in unregistered securities.

Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange that collapsed in November with billions of dollars in investor funds missing, pleaded not guilty to charges of fraud on Tuesday in New York.

Australia had a total of 225 Bitcoin ATMs by the end of 2022 after installing around 150 machines in the final four months of the year, overtaking El Salvador and Poland to become home to the fourth-highest number of crypto ATMs in the world, according to data from CoinATMRadar.com.

The past year has been tumultuous for crypto investors, with a bear market wiping out over half of Bitcoin’s market capitalization. However, with the end of the American tax year just days ahead, taxpayers could get some money back.

Cryptocurrencies had a turbulent 2022 to say the least. Blockchain technology made progress but that failed to offset the multiple bankruptcies and hacks that plagued the industry through the year.

Former customers of FTX have filed a class action lawsuit against the bankrupt cryptocurrency exchange and its top executives, including Sam Bankman-Fried, to seek priority rights to repayment before any non-customer creditors.  

From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.

In times of market volatility, regulation can restore confidence and public trust in crypto, writes Albert Isola, Gibraltar’s minister for digital and financial services.

Caroline Ellison, former chief executive of trading firm Alameda Research, told a federal judge last week that she agreed with executives of FTX, including former CEO Sam Bankman-Fried, to mislead lenders and customers on how much Alameda was borrowing from the now-bankrupt exchange.

ICBA vice-president Brian Laverdure believes that community banks are unfazed by FTX’s collapse, but remain split on cryptocurrencies.

This year’s cascade of crypto collapses should be a wake-up call to regulators, says the Independent Community Bankers of America’s Brian Laverdure.

A lot of the troubles for India exchanges in 2022 will run into next year as they shed staff and run down reserves to stay afloat, and not all are expected to make it.

Bankman-Fried won an upgrade from his Bahamas prison cell after posting bail following his extradition to the U.S. on Wednesday, where he faces charges for what prosecutors called “fraud of epic proportions.”

U.S. Republican Senator Pat Toomey introduced a bill on Wednesday to set regulations for stablecoins and to further “sensible” regulation of cryptocurrency.

Caroline Ellison and Gary Wang, two integral members of the Sam Bankman-Fried now collapsed cryptocurrency businesses, are cooperating with prosecutors.

Bitcoin and Ether fell in Thursday morning trading in Asia, along with all other non-stablecoin top 10 cryptocurrencies. Polkadot led losses with a drop of more than 2%, with Cardano and BNB following close behind.

The new restructuring team of FTX has reportedly located over US$1 billion in cash assets that are held in U.S. financial institutions.

Bitcoin prices rose Wednesday morning in Asia amid a week of volatile price movements in end-of-year trading.

Sam Bankman-Fried, former CEO of FTX, has signed documents in the Bahamas for extradition and is scheduled to the U.S. on Wednesday.

The deal will need approval in a court hearing on January 5 and also faces a vote by creditors under Voyager’s chapter 11 bankruptcy filing.

Bitcoin and Ether prices fell in Tuesday morning trading in Asia as concern about the stability of crypto exchanges and a possible global recession continued to weigh on markets.

Bitcoin and Ether were little changed on Monday after a weekend slump amid worries about a global recession and the stability of crypto exchanges.

Sam Bankman-Fried has reportedly made a second application for bail in the Bahamas – this as lawyers feud over control of the FTX bankruptcy, raising concern the sour grapes may seep into efforts to have Bankman-Fried extradited to face fraud charges in the U.S.

The trillion-dollar concert ticketing sector is plagued by scalping and other Web2-era problems, writes Ryan Kenny of SeatlabNFT. Here’s how blockchain can help fans and artists.

The bankruptcy of cryptocurrency exchange FTX doesn’t represent the biggest losses for crypto investors in 2022, according to a report from Chainalysis.

Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.

Members of a U.S. Congressional hearing expressed frustration about the timing of Bankman-Fried’s arrest, saying they wanted him to testify under oath so the public could get the answers they are seeking about the collapse of FTX.

Bitcoin and Ether rallied in Asian trading on Tuesday afternoon. BNB was the biggest loser across the top 10 non-stablecoin cryptocurrencies

John J. Ray III, the new CEO of FTX.com, said the company’s failure was caused by the “concentration of control in a very small group of grossly inexperienced and unsophisticated individuals.”

The fall from grace: Once one of the most admired figures in crypto, the former head of the FTX exchange is unlikely to see his Bahamas penthouse anytime soon after being arrested Monday on U.S. charges that are expected to lead to his extradition.

Stablecoins in USD are becoming the digital world’s default currency — which burdens ordinary crypto users and monetary policies in smaller nations, writes Wei Zhou of Coins.ph.

Sam Bankman Fried, founder and former CEO of FTX exchange, was arrested and taken into custody by the Royal Bahamas Police on Monday.

Bitcoin and Ether weakened in Asian trading on Monday afternoon, with Dogecoin leading the decline across top 10 non-stablecoin cryptocurrencies

Michael McCaffrey, the CEO of crypto news outlet The Block, resigned after reports revealed that he received undisclosed multi-million dollar loans from Alameda Research.

Federal prosecutors are reportedly investigating Sam Bankman-Fried for possible market manipulation that led to the Terra-LUNA crash in May

The embattled founder of failed cryptocurrency exchange FTX may be subpoenaed if he declines to testify at the two hearings on the platform’s meltdown in Washington DC next week.

Before the FTX implosion there was Mt. Gox, an exchange that oversaw 80% of all Bitcoin trades before it collapsed in 2014. In this exclusive interview with Forkast, former Mt. Gox Chief Executive Officer Mark Karpeles says what he sees in store for the industry in 2023 in the wake of the FTX bankruptcy.

Tether, the world’s largest stablecoin provider, will include the CNHT stablecoin on Justin Sun’s Tron network.

A federal judge overseeing the bankruptcy proceedings of Three Arrows Capital (3AC) has approved the delivery of subpoenas to 3AC’s cofounders, Su Zhu and Kyle Davies.

2022 saw the collapse of FTX, Terra-Luna and 3AC, and hacks were at an all time high. How can going back to blockchain’s roots help restore faith in crypto?

Goldman Sachs plans to spend millions of dollars to buy or invest in undervalued crypto companies in the post-FTX implosion market depression, as it sees long-term market opportunity, according to Reuters

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

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

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

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.

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

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

Employee accounts of life at Sam Bankman-Fried’s flagship cryptocurrency trading arm Alameda Research paint a picture of overworked and inexperienced millennials running a ship headed for the rocks: one seemingly escaped.

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?