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2022-11-24 09:14:03 Coinbase survey shows 62% of investors increased allocations over 12 months

A Coinbase survey found that crypto winter may not be as cold as expected. The 2022 Digital Assets Outlook Survey shows that 62% of investors who are currently invested in crypto increased their allocations in the past 12 months compared to 12% who decreased allocations. The survey interviewed 140 institutional investors to get a read on current sentiment and outlook toward digital assets since the start of the current crypto winter. To be sure, the survey was conducted prior to the meltdown of Sam Bankman-Fried's FTX and Alameda. The firms—which jointly filed for bankruptcy protection—have sent a ripple effect across the entire market.

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2022-11-24 03:14:01 Sequoia Capital apologizes to investors after $150 million FTX loss: WSJ

Sequoia Capital partners apologized to investors for the $150 million it lost on investments in crypto exchange FTX, the Wall Street Journal reported. Sequoia partners said the firm would improve its due-diligence process on future investments and that it believed it was misled by FTX. During the call, one partner at Sequoia reportedly said the firm will be able to have a Big Four accounting firm audit financial statements of the early-stage startups it invests in, the Wall Street Journal reported. Sequoia Capital earlier this month said it had written off its entire investment in the struggling crypto exchange that filed for bankruptcy protection on Nov. 11. FTX Group owes $3.1 billion to its top 50 creditors, according to recent court filings.

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2022-11-23 21:14:02 Bitpanda secures German crypto license

Bitpanda has received a crypto trading and custody license from Germany’s Federal Financial Supervisory Authority, known as BaFin. The Austrian fintech company will now be able to legally offer German citizens crypto custody and proprietary trading for crypto assets. Bitpanda has already secured licenses across Europe — including Austria, France, Italy, Spain, the U.K., the Czech Republic and Sweden. Receiving a BaFin license “strengthens our position as a pioneer in terms of regulation in Europe,” Eric Demuth, CEO and co-founder of Bitpanda, said in a statement. Bitpanda launched a partnership with the German neobank N26 to offer trading tools.

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2022-11-23 15:03:01 FTX, Bankman-Fried's parents bought Bahamas property worth $121 million: Reuters

FTX, the now-bankrupt crypto exchange operator, its founder Sam Bankman-Fried's parents and the firm's senior executives bought at least 19 properties worth about $121 million in the Bahamas over the past two years, Reuters reported Tuesday, citing official property records. The majority of the purchases — 15 properties worth about $100 million — were made by FTX's unit FTX Property Holdings in 2021 and 2022, per the report. The most expensive property purchase was a $30 million penthouse at a resort called Albany. Its deed was reportedly signed by Ryan Salame, the president of FTX Property on March 17, and showed it was intended as a "residence for key personnel.

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2022-11-23 11:14:01 Binance CEO met with Abu Dhabi investors about industry recovery fund: Bloomberg

Binance CEO Changpeng "CZ" Zhao met with investors in Abu Dhabi last week in an effort to raise cash for a crypto industry recovery fund, Bloomberg News reported, citing sources and it could be several weeks before the fund is established. Binance spokesperson told Bloomberg that the meetings were focused on global regulatory matters and how Middle Eastern regulators "could lead the globe by exploring more aggressive proof of custody requirements.".but in a liquidity crisis." He's also called on other exchanges to adopt six principles, including avoiding excessive leverage, to ensure trust in the wake of the collapse of rival exchange FTX.

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2022-11-23 03:13:59 Curve releases whitepaper and official code for its stablecoin

The developers of decentralized exchange Curve Finance have released code and official documents for Curve's soon-to-be launched decentralized stablecoin called crvUSD. While an official announcement from Curve is still pending, the repository published on the projects. The whitepaper states that users will be able to mint the stablecoin by depositing excess collateral in the form of a cryptocurrency loan in a reserve, a mechanism called a collateralized debt position (CDP). The stablecoin will also rely on a novel algorithm dubbed Lending-Liquidating AMM (LLAMMA), which will work to continuously liquidate and sell the deposited collateral to better manage potential collateralization risks.

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2022-11-22 21:13:59 'FTX drainer' swaps another 20,000 ether for bitcoin

The individual or entity behind suspicious withdrawals from embattled crypto exchange FTX — commonly called the "FTX Drainer" — has continued to swap ether for bitcoin. It has now moved $72 million worth of value across both blockchains via the Ren BTC Gateway. The main FTX drainer wallet held 250,000 ether ($302 million at the time) on Saturday after consolidating ether holdings from other wallets. Following this consolidation of funds, the alleged hacker began swapping ether for bitcoin. This process usually involved sending a batch of ether to a new wallet before swapping for bitcoin, which was done by trading ether for renBTC.

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2022-11-22 15:14:02 Uniswap's new privacy policy says it collects data tied to user wallets

Uniswap, the largest Ethereum decentralized exchange, published a new privacy policy to provide transparency on the data it collects. The privacy policy states that the DEX collects certain on-chain and off-chain data connected to users’ crypto wallets. The privacy policy notes that the decentralized exchange and other “third-party services providers” may gather data related to users' mobile deviceID, cookies, information from localStorage, operating system, device or browser language. Such information can be used to remember which tokens users have imported, as well as learn their preferences and interactions, Uniswap said.

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2022-11-22 09:14:02 Binance Labs makes strategic investment in hardware wallet maker Ngrave

Binance Labs, the venture arm of the Binance crypto exchange, has made a strategic investment in hardware wallet maker Ngrave. The investment is part of Ngrave's series A funding round that Binance Labs will be leading, an Ngrave spokesperson said. The amount of funding wasn't disclosed. Ngrave makes a hardware wallet called Zero, which aims to compete with larger providers like Ledger and Trezor. The devices, which secure private keys of crypto assets inside hardware in an attempt to guard users against hacks, can offer what some perceive to be better security than web-based private wallets, including MetaMask and TrustWallet. Binance Labs said the company is eager to capitalize on the emerging hardware wallet.

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2022-11-22 03:14:00 Grayscale holds 635K BTC as Coinbase Custody reveals holdings

Following recent uncertainty regarding the future of the Grayscale Bitcoin Trust, its custodian partner Coinbase released a report detailing the assets held on behalf of Grayscale Bitcoin Trust. The letter revealed that holdings are segregated from other funds. The Bitcoin held by the trust is valued at around $10 billion as of press time. At the height of the bull market, the figure would have been closer to $43.8 billion. Grayscale also holds 3,056,833 ETH valued at $3.3 billion in the Greyscale Ethereum Trust. Both BTC and ETH are also held in smaller amounts within the Grayscale Digital Large Cap Fund which appears to be segregated from the main trust.

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