Crypto | Bitcoin | Blockchain

2023-01-02 06:30:52 FTX Says Bahamas Regulators Hold Only $296 Million Of Company’s Assets

According to Reuters, FTX refuted the statement that the Securities Commission of the Bahamas (SCB) holds $3.5 billion worth of the exchange digital assets. any of the cryptocurrencies seized, the company said it would seek the recovery of any assets that have been taken.

FTX said in a statement that when SCB seized its digital assets in November of this year, they were worth only $296 million. SCB said on Thursday that it had controlled more than $3.5 billion in digital assets of the exchange, which will be used to repay the customers and other creditors in the future. SCB did not specify the type of assets or their value. SCB began the liquidation of its Bahamian subsidiary, FTX Digital Markets Ltd.

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2023-01-01 05:46:02 Deposits And Withdrawals For Binance-Peg BUSD Is Now Available On TRON Network

Binance announced that the integration of Binance-Peg BUSD on the TRON network was successfully carried out. the Binance-Peg stablecoin across the Ethereum, BNB Chain, Avalanche, Polygon, and TRON networks.

The Binance-Peg BUSD trading pair is currently accepting deposits and withdrawals via the TRON network. The BUSD stablecoin, which works on the BNB Chain, Avalanche, Polygon, and TRON networks, is currently available to users. As a result of this development, users will now be able to send BUSD and Binance-Peg BUSD across the TRON network

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2022-12-28 05:16:02 CryptoPunks Fraction Token Officially Launched On Gate.io

According to the official announcement, Gate.io announced the launch of its first NFT fragmentation token, CryptoPunks Fraction Token (IPUNKS).This token is a USDT-based product that represents a fixed set of NFT assets. Its first online project is CryptoPunks.

The CryptoPunks are the 24×24-pixel, 8-bit-style unique avatar that is an NFT image, one of the earliest examples of NFTs on Ethereum and the inspiration for the ERC-721 standard. They are valued significantly on the NFT market and represent a novel kind of asset tokenization, often fetching millions of dollars. were initially given away by the developers before they gained popularity and value.

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2022-12-27 06:20:05 Octopus Network Cut Off 40% Of The Core Team

On December 26, Louis Liu, the founder of Octopus Network, a Near ecological multi-chain network, published a blog post saying that the core team of Octopus Network will launch a voluntary resignation plan to achieve restructuring.

Octopus Network was designed to support Web3 applications which takes a big chunk of resources to support an appchain in terms of IT infrastructure and community mindshare, but the Octopus community can’t afford to onboard a batch of appchains only to lose most of them in one year, according to the statement.

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2022-12-26 05:50:01 Bankman-Fried posts bail and other major crypto news of the past week

The FTX saga continued to unfold this past week with disgraced former CEO Sam Bankman-Fried now out on bail. Some of Bankman-Fried’s associates have pleaded guilty to fraud charges and are said to be cooperating with investigators.

More exchanges published proofs of reserves in the wake of the FTX collapse. Still, such transparency efforts by crypto exchanges were dealt a blow as reports emerged that a major accounting firm was no longer willing to work with them. Disgraced former FTX CEO Sam Bankman-Fried posted bail with a $250 million bond package after being extradited to the U.S.

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2022-12-25 05:58:02 Caroline Ellison admits to concealing billions of dollars of FTX loans

FTX associate Caroline Ellison admitted during her plea deal that she concealed billions of dollars worth of loans, according to a Reuters report on Dec. 23. FTX to borrow funds from Alameda without limit. The two executives also hid that fact from investors and the wider public.

Alameda Research is generally considered a sister firm of FTX, as Bankman-Fried founded both firms. While FTX operated as a cryptocurrency exchange, Alameda served as a hedge fund, allowing the two companies to work together closely. Ellison admitted to the lending arrangement in a statement to U.S. District Judge Ronnie Abrams in Manhattan federal court.

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2022-12-24 05:54:02 Peter Thiel-backed Crypto Exchange Bullish Calls Off $9B SPAC Plan

The Peter Thiel-backed crypto exchange Bullish and special purpose acquisition company (SPAC) Far Peak Acquisition Corporation have mutually agreed to call off their planned merger. SPAC aspirations amid an uncertain regulatory climate for crypto firms.

A SPAC, otherwise known as a “blank check company,” is a company with no business operations and is formed to raise capital via an Initial Public Offering or merging with another firm. In July 2021, Far Peak and Bullish agreed to a merger that would see the crypto exchange publicly traded on the New York Stock Exchange (NYSE).

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2022-12-23 08:38:02 Genesis and DCG creditor committee propose plan for asset recovery

Gemini co-founder Cameron Winklevoss took to Twitter to explain the path for asset recovery for Gemini Earn users. "This plan is based on information received from Genesis, DCG, and their respective advisors to date.

Gemini has been working with Genesis and DCG since Nov. 22 to help customers get their Earn redemptions. Genesis owes Gemini Earn users $900 million, The Block previously reported. Gemini formed the creditor committee on Dec. 6 following the Gemini Earn freeze, and Houlihan Lokey has been the financial advisor to the creditor committee since Dec. 9.

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2022-12-22 06:01:02 Wave Labs reveals DAXA warning caused significant damage to WAVES token

Waves Labs has reported that Futures data revealed that a DAXA warning on Dec. 8 did more harm to the WAVES token than the depegging of the USDN stablecoin “ever could.”

The Open Interest (OI) on WAVES across various centralized exchanges (CEXs) dramatically increased, following an Upbit announcement to suspend WAVES token deposits on Dec. 8, according to Waves Labs. The South Korean exchange Upbit suspended WAVES deposits on Dec. 8 after receiving a warning from Digital asset collective DAXA.

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2022-12-21 06:15:05 Polygon co-founder launches web3 startup accelerator Beacon

Sandeep Nailwal, co-founder of Polygon and Symbolic Capital, has launched a web3 startup accelerator. the New York City-based accelerator said it will support early-stage crypto projects through mentorship and financing.

Beacon is part of Nailwal's Symbolic Capital, a crypto venture capital firm he launched in August with a $50 million fund. Nailwal runs Beacon with Kenzi Wang, co-founder of Symbolic Capital, Prateek Sharma, former vice president at Sequoia Capital, and Uri Stav, former chief security officer at Digital Currency Group, among others.Beacon offers a 12-week program to mentor and finance startup founders.

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