Crypto Calendar News

2023-02-18 08:13:02 FTX Digital Markets commingled client funds, Bahamian liquidators say

FTX Digital Markets, the crypto exchange’s Bahamian entity, commingled customer and corporate funds, according to a report filed in court earlier this month. The joint provisional liquidators unwinding FTX’s bankruptcy in the Bahamas filed a lengthy report on Feb. 8.

New FTX CEO John Ray has made similar claims about the lack of financial records across the firm’s more than 100 entities. Meanwhile, former FTX CEO Sam Bankman-Fried has pleaded not guilty to criminal charges related to the mishandling of customer funds, among other allegations. Two former executives have pleaded guilty to criminal charges. FTX Digital Markets has approximately $219.5 million in multiple bank accounts, the liquidators said, but it’s not clear which funds were held for the benefit of FTX.

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2023-02-17 09:20:02 South Korea And Hong Kong Strengthen Cooperation To Suppress Illegal Cryptocurrency Transactions

The South Korea Customs Service announced today that it has decided to activate the exchange of information on foreign exchange crimes with the Hong Kong customs authority to crack down on illegal foreign exchange transactions involving virtual assets.

The customs authorities of the two countries wish to sign a memorandum of understanding (MOU) on cooperation in suppressing foreign exchange crimes in order to exchange information related to illegal foreign exchange transactions. The customs authorities of the two countries are expected to hold the 34th Korea-Hong Kong Customs Commissioner’s Conference in Seoul this year. Yoon Tae-Sik, head of the Korea Customs Service, held a bilateral meeting in Hong Kong yesterday with Hong Kong.

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2023-02-16 07:29:02 Ironblocks raises $7 million to build blockchain cybersecurity platform

Tel Aviv-based cybersecurity startup Ironblocks has raised a $7 million seed round to build a blockchain-native cybersecurity platform. The co-founders of Ironblocks, Or Dadosh and Assaf Eli, have both been involved in the decentralized finance (DeFi) space for several years including being part of the team responsible for creating Banco.

Last year, the crypto industry lost $3.7 billion due to hacks alone, according to research from bug bounty platform Immunefi. Ironblocks says it aims to help crypto companies and protocols mitigate these hacks and identify suspicious activity with an automated monitoring and detection system, Dadosh said. The detection system is already live and the company will be introducing a prevention system in the coming months, he added. While working in the space, they noticed an increase in hacks and as a result started working on Ironblocks in 2022.

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2023-02-15 11:21:02 Tether Has Over 50% Of The Stablecoin Market, The Highest In 14 Months

Tether (USDT) is once again consolidating as crypto’s preferred pegged asset, with its stablecoin market share approaching 50%. Tether, Circle, and Paxos, among other stablecoin companies, enable token holders to swap stablecoins for US dollars.

Tether (USDT) is once again establishing itself as crypto’s preferred pegged currency, with its stablecoin market share approaching 50% for the first time since December 2021. The leading stablecoin issuer has deployed an extra $2.4 billion USDT this year, bringing the total circulating supply to $68.4 billion, marking a 3% increase. Meanwhile, USDC, Circle’s offering, has dropped more than $3.3 billion in supply year to date. The crypto industry presently has $41.2 billion USDC.

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2023-02-14 08:31:02 Binance sticking with BUSD for now, ready to explore options

Binance will continue to support Binance USD, although the exchange is ready to adjust and potentially move away from using the stablecoin as its main pair for trading. The comments from Binance CEO Changpeng Zhao come as Paxos, the stablecoin issuer behind BUSD.

The BUSD stablecoin is wholly owned and managed by Paxos. As a result of the NYDFS enforcement action, its market cap will only decrease over time, a Binance spokesperson told The Block." Paxos will continue to service the product, manage redemptions and will follow up with additional information as required.". BUSD accounts for over 37% of spot trading volume on Binance. The share went over 39% in December.The stablecoin rose in prominence over the past few months as Binance pushed to promote its use on the exchange.

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2023-02-13 09:26:02 Aave Community Has Started A Vote On Introducing sfrxETH

The Aave community started a proposal vote on February 11 to include sfrxETH into the Aave V3 Ethereum market. The Aave community has begun a proposal vote for “introducing sfrxETH into the Aave V3 Ethereum market,” with a deadline of February 14 at 19:00. fostering ecosystem variety and liquidity, and strengthening Ethereum’s decentralization.

Aave can provide customers with sfrxETH lending services because sfrxETH will earn pledge rewards in addition to the fundamental ETH value, it is a type of collateral that can be maintained for a long time, and the counterparty risk is relatively low. As a result, the community attempts to introduce sfrxETH as a strategic reserve asset into the V3 market, providing Aave with an extra source of revenue, fostering ecosystem variety and liquidity, and strengthening Ethereum’s decentralization. Users are not required to possess 32 ETH or to run node infrastructure.

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2023-02-12 09:10:05 FTX liquidators play 'Storage Wars' in hunt for saleable assets

Bound to hit the market soon are a half a million dollars worth of office furniture and equipment and 13 storage units in the Bahamas full of FTX's "physical goods." That's according to a report from liquidators tasked with digging through the bankrupt crypto exchange's leftover assets.

The list of assets also includes $2.4 million in vehicles, of which the report dryly notes "there is no longer a need for the company to maintain the current fleet size." Also coming to market will be whatever's inside the company's head office in the Bahamas, which had its locks changed and is secured on site. The company had a total of $219.5 million in cash in banks as of Nov. 10, the report said. The list included Fidelity Bank, Silvergate Bank, Deltec Bank and Moonstone Bank, in addition to other institutions.

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2023-02-11 08:16:02 Kraken Must Immediately Shut Down Staking Service And Pay $30 Million Fine To SEC

Following the lawsuit filed on Thursday, Kraken Crypto Exchange will “immediately” terminate the platform’s crypto staking service for U.S. customers and pay $30 million to settle the claims fees charged by the Securities and Exchange Commission (SEC).

The SEC said that Kraken’s holding companies, Payward Ventures, Inc. and Payward Trading Ltd., will terminate the staking program and services. These projects have been offering staking services to the public since at least 2019. Previously, Kraken CEO Dave Ripley said that in September 2022, there are not any tokens that are securities that we want to list, adding that he does not see a need to register Kraken. as an exchange with the SEC because it is not necessary to offer securities.cryptocurrencies throughout 2023 is to make the crypto exchange and lending platforms compliant.

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2023-02-10 11:55:03 Paxos attempts to quash speculation of trouble with the OCC

Stablecoin issuer Paxos attempted to clear up rumors of trouble with the U.S. Office of the Comptroller of the Currency (OCC) late Wednesday, insisting its application for a national trust bank charter remains in progress. To clarify speculation: Paxos has not been asked to withdraw its application for a national trust bank charter from the OCC.

Speculation had swirled in the press and on Twitter earlier that day that Paxos and other crypto firms are staring down the barrel of a crypto banking crackdown. Fortune reported that the status of Protego's application is also uncertain. The company received conditional approval from the OCC in April 2021, giving it the green light to split its operations between two entities: one regulated on a national level and one maintaining its current regulatory structure. The OCC did not immediately respond to a request for comment.

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2023-02-09 09:05:03 Cardano’s Ethereum Sidechain Is Officially Operational On The Public Testnet

A public test network of the proof-of-concept sidechain that has been constructed on top of the Ethereum Virtual Machine (EVM) is currently active, as stated in a statement released by the creator of Cardano Input Output following the release of the toolkit for developing sidechains.Cardano has released a public testnet for its EVM-based sidechain.

Following the release of the toolkit for developing sidechains, Cardano public test network of the proof-of-concept sidechain is established on top of the Ethereum Virtual Machine, according to an announcement made by the developer Cardano Input Output. (EVM) is presently operational. The proof-of-concept test network is only temporary, and it will be reset on a regular basis during the testing phase. All Cardano community members and stake pool operators who are interested in connecting their wallets, testing the network.

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