Why DeFi is in dire straits — and what could save it
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.’
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Hong Kong said it remains upbeat on digital assets after FTX debacle
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.
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Former Huobi CEO Leon Li offers US$14 mln loan to cover funds locked in FTX
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.
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FTX, authorities investigate potential US$477 mln theft
FTX officials confirmed on Sunday that unauthorized transactions have drained millions of remaining user funds from wallets over the weekend.
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S.Korea summons ex-Terra exec Daniel Shin over US$100M in LUNA gains
Daniel Shin has been summoned by South Korean prosecutors to attend an investigation as a suspect for allegedly earning ill-gotten profits with LUNA.
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Bahamian regulator contradicts FTX, says no approval given for fund withdrawals
Regulators in the Bahamas, where FTX is headquartered, say the bankrupt exchange’s claims that Bahamian fund withdrawals were requested by officials are false.
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AAX crypto exchange says it is suspending withdrawals amid FTX fallout
Hong Kong-based crypto exchange AAX is suspending withdrawals for seven to 10 days for a scheduled system upgrade to protect users.
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Crypto prices slide as investors pull funds on concerns other exchanges may follow FTX implosion
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?
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FTX files for bankruptcy, Sam Bankman-Fried steps down as CEO
FTX.com, FTX US and 130 additional affiliates have filed for bankruptcy, its new CEO John J. Ray III says.