Prioritizing customers getting back their deposits means it is OK to do a “moderately bad” deal when rescuing troubled cryptocurrency companies, FTX founder and CEO Sam Bankman-Fried said on Tuesday. See related article: What Sam Bankman-Fried thinks will happen with NFTs and crypto exchanges in 2022 Fast facts Speaking at the Bloomberg Crypto Summit, Bankman-Fried,…
The decentralized finance (DeFi) lending protocol will use Pocket’s distributed network to increase access for decentralized app (dApp) developers across 50 blockchain networks. See related article: DeFi lending platform Aave to ‘build Twitter on Ethereum’ Fast facts Pocket, which on Tuesday tweeted a Cointelegraph report on the partnership, offers Aave a distributed network of over…
The U.S. Justice Department seized about US$500,000 from North Korea-backed hackers using ransomware, Deputy Attorney General Lisa Monaco announced on Tuesday. See related article: US Treasury says prioritize sanctioning North Korea for crypto hacking Fast facts Hackers demanded Bitcoin ransom from Kansas and Colorado medical providers that were attacked by a never-before-seen ransomware strain called…
The U.S. Senate is unlikely to vote on the bipartisan cryptocurrency bill this year, Republican Senator Cynthia Lummis said Tuesday at the Bloomberg Crypto Summit. See related article: US crypto bill leaves ‘open question’ on securities: Tessler Fast facts “It’s a big topic, it’s comprehensive, and it’s still new to many U.S. senators,” Lummis said…
A creditors committee to liquidate the bankrupt, Singapore-based cryptocurrency hedge fund Three Arrows Capital (3AC) was established at a meeting on Monday and comprised Digital Currency Group, Voyager, CoinList, Blockchain.com, and Matrixport, according to a document published the same day on the Three Arrows bankruptcy website. See related article: 3AC crypto contagion spreads to Blockchain.com:…
According to a report by AAX crypto exchange and Forrester Consulting, 51% of Bitcoin owners in Southeast Asia used it to save money and preserve their wealth. See related article: Crypto trading volumes dip to 18-month low amid bear market Fast facts Some 47% of Bitcoin users in Southeast Asia sought a profit while 44%…
In a presentation on Monday, embattled crypto lender Celsius Network presented a plan of action as it enters Chapter 11 proceedings to restructure and stabilize its business in an effort to placate stakeholders. See related article: Celsius says it owes its users US$4.72B amid a US$1.19B balance sheet deficit Fast facts The firm expects to…