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2022-11-27 05:52:01 MakerDAO Disposes of renBTC as Stablecoin Collateral

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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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2022-11-27 05:09:03 Binance proof of reserves is ‘pointless without liabilities:’ Kraken CEO

According to Powell, a complete proof-of-reserve audit must include the sum of client liabilities, user-verifiable cryptographic proof that each account was included in the sum and signatures proving the custodian’s control over the wallets.

The collapse of the crypto exchange FTX revealed the importance of proof of reserves in avoiding situations involving the misappropriation of users’ funds. While exchanges have proactively started sharing wallet addresses to prove the existence of users’ funds, several entrepreneurs, including Kraken CEO and co-founder Jesse Powell, called the practice “pointless” as exchanges fail to include liabilities.

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2022-11-27 04:03:02 MakerDAO Disposes of renBTC as Stablecoin Collateral

MakerDAO – the issuer of the decentralized stablecoin DAI – unanimously passed a proposal this week to remove renBTC as a form of reserve collateral. The Bitcoin-pegged token was deemed too risky to hold exposure to in light of its connections to the now-bankrupt trading desk Alameda Research. As announced by MakerDAO over Twitter on Thursday, Maker’s governance voted to offboard the RENBTC-A Vault type in a governance poll that opened on Monday.“Considering the acquisition of the Ren project by Alameda Research and the recent bankruptcy of the latter, the Ren development team disabled the Ren network mints,” said Maker. Ren 1.0 network, it said, will shut down within 30 days after November 18th.

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2022-11-27 01:52:02 Turkey to Confiscate ‘Suspicious’ Assets Related to FTX: Report

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2022-11-19 06:13:03 Bitstamp Follows Other Exchanges in Canceling Orders for FTX and Celsius Tokens

Bitstamp is set to disable new orders and cancel existing orders for all FTT and CEL trading pairs, it announced on Friday. FTT is the proprietary exchange token of FTX, which offered customers small discounts on trades for holding FTT before the firm’s high-profile slide into bankruptcy last week.

CEL offered users of the now defunct crypto lender Celsius a small increase in rewards on the platform before the lender shut down withdrawals in June. The move comes after many other exchanges in the crypto world have already started prohibiting users from trading FTT: Binance removed the FTT/BTC, FTT/BNB, FTT/ETH and FTT/USDT trading pairs from its platform earlier this week.

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2022-11-19 05:35:03 1,200 employees resigned from #Twitter yesterday, NYT estimates

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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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2022-11-19 04:52:00 Ripple seeks license from Irish regulator: CNBC

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2022-11-19 04:14:02 Meta and EU officials disagree on metaverse centralization

Meta and the EU officials have different views about what the future of the metaverse would look like, according to a panel discussion featuring representatives from the social media giant, the European Parliament and the European Commission. Meta is looking to hire 10,000 experts in the EU to help develop its metaverse solution. Meta is proposing a single metaverse where the company holds centralized power, while EU representatives support the development of many different metaverses. “Our economy, our consumers, our customers will benefit if we focus on creating one governance,” Salla said, adding that “the metaverse is not only for Meta,” and that cooperation with businesses, stakeholders, creators and policymakers is necessary.

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