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2022-11-27 05:39:02 Amber Group’s co-founder Tiantian Kullander passes away at 30

Tiantian Kullander, known to many as TT, unexpectedly died in his sleep on Nov. 23. Amber Group’s co-founder Tiantian Kullander, also known as “TT,” unexpectedly passed away in his sleep on Nov. 23, according to the company’s official website. Kullander was 30 years old and leaves behind a wife and a son.

Besides co-founding the Hong Kong-based Amber Group, TT sat on the board of esports company Fnatic and founded KeeperDAO, a decentralized finance protocol that allows participants to trade, borrow and stake assets with protection from minervalue-extracted bots, before returning it to the community. Amber Group noted that TT had devoted his heart and soul to the company.

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2022-11-26 05:59:02 On-chain data flashes multiple bear market bottom signals

Crypto markets have historically been cyclical based on Bitcoin halving events. Bitcoin halvings happen every time 210,000 blocks are mined — roughly every four years. The last halvings occurred in 2012, 2016, and 2020.

Supply P/L Bands depict the total amount of Bitcoin supply in either profit or loss. The blue line shows the total number of Bitcoin in profit; the green line shows the number currently making a loss. The blue and green lines have recently converged for the fifth time in Bitcoin’s history. The previous events were during bear markets, close to the cycle’s lowest mark.

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2022-11-25 05:10:02 35% of Bitcoin core team is from the U.S. as monthly active developers falls in 2022

Bitcoin (BTC) investment firm NYDIG’s report revealed that 35.1% of Bitcoin’s core developer team is residing in the U.S., and the core team grows by 5 to 20 people every month. NYDIG’s report examines the technical development of this open-source technology.

According to the report, there are 13,057 unique developers who contributed to the broader Bitcoin ecosystem, excluding the ones who work on closed-source solutions. Another 1,140 unique developers, on the other hand, have contributed to the Bitcoin Core. The average monthly number of active unique developers for Bitcoin Core varies between 40-60.

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2022-11-24 14:38:12 Crypto Cup Kickoff: Predict Your World Cup Winner to Share the 500,000 $USDT Prize Pool!

Bybit is giving you a golden opportunity to earn a share of our 500,000 $USDT prize pool when you correctly predict the winners of each stage of the FIFA World Cup 2022!

In addition, Bybit has 0 fees on all Spot pairs, Copy Trading and Trading Bots.

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2022-11-24 05:54:02 ENS DAO votes for Karpatkey to manage its endowment fund

ENS DAO, the decentralized community for the Ethereum Name Service project, has voted to select the treasury management platform Karpatkey DAO to manage its endowment fund. The vote, which began on Nov. 18, ended on Nov. 23, according to details from Snapshot.

Karpatkey was among four other choices that included DeFi management protocols Avantgarde and Llama, as well as an option for none of the above. The vote was via ranked choice, which meant voters had to rank the options in their order of preference. Karpatkey emerged as the most popular option, securing over 57% of the votes cast. “We’d prefer to wait for the treasury management space to mature further,” Coinbase added.

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2022-11-23 10:51:02 Three U.S. senators ask Fidelity to reconsider bitcoin exposure in retirement plans

Three U.S. senators have again asked Fidelity Investments to reconsider a decision to allow retirement plan participants to invest in bitcoin, saying the industry has become increasingly "volatile, tumultuous and chaotic.". Senators say the digital asset industry is full of “charismatic wunderkinds, opportunistic fraudsters.

Fidelity Investments has opted to expand beyond traditional finance and delve into the highly unstable and increasingly risky digital asset market," the senators wrote. "The recent implosion of FTX, a cryptocurrency exchange, has made it abundantly clear the digital asset industry has serious problems. The industry is full of charismatic wunderkinds, opportunistic fraudsters and self-proclaimed investment advisers promoting financial products.

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2022-11-22 06:04:02 Unbacked Exchange Tokens Like FTX’s FTT ‘Extreme Risk’: Bank of England Deputy Governor

The Bank of England’s Deputy Governor, Sir Jon Cunliffe, has weighed in the need for regulators to come up with strong consumer safeguards after the FTX crisis, according to a speech he delivered at a DeFi and crypto conference this morning.Cunliffe said one of the catalysts in FTX’s historic collapse.

FTT,” which had “no intrinsic value” and should not have been accepted “as collateral for loans and margin payments, as there are indications may have happened with FTX,” because doing so “creates extreme risk.”. Cunliffe pointed to “limited evidence” that FTX’s collapse prompted a consumer migration onto decentralized exchanges (DEXs).

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2022-11-21 09:10:02 SBF’s lawyers terminate FTX representation due to conflicts of interest

Paul, Weiss, the law firm backing FTX CEO Sam Bankman-Fried (SBF) amid bankruptcy, renounced representing the entrepreneur, citing a conflict of interest. The decision to withdraw from representation after SBF’s tweets were found to disrupt the law firm’s reorganization efforts.

SBF published a series of tweets that amassed extensive attention across Crypto Twitter. The move, however, sparked speculations that the cryptic tweets were used to distract bots from noticing concurrently deleted tweets. While no ill-intent could be concluded, Paul, Weiss attorney Martin Flumenbaum believed that SBF’s “incessant and disruptive tweeting” was negatively impacting the reorganization efforts.

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2022-11-20 05:24:02 FTX’s Beginning of the End Traced Back to This Alameda Tweet: Analysis

Alameda’s CEO made a suspicious offer to CZ, which the latter ultimately refused. After Hacktober, which saw countless DeFi projects being exploited for hundreds of millions of dollars in total, November was expected to be a calmer month for crypto. However, that was not the case as the industry saw one of the fastest, loudest, and most shocking deterioration of a giant – FTX.

According to some estimations, Binance held more than 23 million tokens, valued at over $500 million back then. This was approximately 10% of FTT’s market cap at the time. Alameda’s CEO, Caroline Elison, quickly responded to CZ, offering to purchase all FTT coins at $22 per one. The problem stemmed from the fact that this offer was below the market’s price. Zhao refuted the proposition, saying Binance will “stay in the free market.” But there might be bigger ramifications from Elison’s tweet than just trying to buy tokens below their market price.

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2022-11-19 05:26:02 Confidential Doc Reveals Genesis Sought $1B Emergency Loan From Investors: WSJ

According to The Wall Street Journal, the confidential fundraising document stated that the company needed access to the credit facility by 10 a.m. Monday, specifying a “liquidity crunch due to certain illiquid assets on its balance sheet.” Genesis, however, failed to get the funds. reportedly sought an emergency loan of $1 billion from investors before notifying its clients of suspending redemptions this week.

Genesis’s spokeswoman further clarified that the document in question was prepared over the weekend in the wake of FTX’s collapse. It is, however, no longer current. The report also revealed that the company had “very positive conversations” with potential investors to recuperate its liquidity. The document offered potential investors a chance of a controlling ownership in Genesis, an ownership stake in one of Digital Currency Group’s subsidiaries, or a minority stake in the holding company. DCC is the parent company of the brokerage firm.

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