To recoup their losses, a group of investors filed a class action lawsuit against the defunct cryptocurrency exchange FTX, its founder Sam Bankman-Fried, and several celebrities, alleging that they participated in a “fraudulent scheme” to “take advantage of unsophisticated investors from across the country.” Defendants were accused of actively participating
November 17, 2022 1 min read
Liquid, a cryptocurrency exchange, said today that it will be suspending all withdrawals. The Liquid team has asked users to hold off on making deposits until further notice. The exchange tweeted: “Fiat and crypto withdrawals have been suspended on Liquid Global in compliance with the requirements of voluntary Chapter 11
November 16, 2022 2 mins read
The FTX Empire’s demise left many in the cryptocurrency community shocked. The crypto lending platform BlockFi was also impacted by FTX’s collapse. In the middle of the mayhem, BlockFi suspended withdrawals. Users were notified on November 11 that the New Jersey-based exchange will be restricting platform activities. BlockFi recently expressed
November 16, 2022 1 min read
The GAM3 Awards are the first of their kind and have already attracted the attention of some of the biggest names in the web3 gaming sector. Polkastarter Gaming will be hosting the event on December 15 to award the top web3 games of the year based on votes from industry professionals and
November 14, 2022 4 mins read
As the tale of his defunct cryptocurrency exchange played out in near real-time on Twitter, FTX founder Sam Bankman-Fried refuted reports that he had fled to Argentina. On November 12, Bankman-Fried (SBF) texted Reuters to confirm that he was still in The Bahamas. He told Reuters, “Nope,” when asked directly
November 13, 2022 1 min read
On November 10th, Genesis Trading said that its parent firm, Digital Currency Group, will inject an additional $140 million in equity funding into the business. To “strengthen its balance sheet” and “position itself as a worldwide leader in crypto capital markets,” the business said it made this choice. The financial
November 13, 2022 1 min read
It has been announced by the Indonesian government that it plans to give the Financial Services Authority (OJK) responsibility for regulating, supervising, and overseeing the country’s expanding cryptocurrency investment market. Currently, market regulation is under the purview of the Ministry of Trade and the Commodity Futures Trading Regulatory Agency. As
November 12, 2022 1 min read
The FTX cryptocurrency exchange is seeing millions of funds disappear from user wallets. Nearly $600 million in unusual transactions were recorded in only a few hours, with some withdrawals including a shift from Tether to DAI. Moreover, the drainer is allegedly withdrawing StETH Solana, BNB, LINK, AVAX, MATIC, and other
November 12, 2022 1 min read
According to Binance CEO Changpeng Zhao, the president of El Salvador today reassured citizens that their country’s cryptocurrency assets were not on the failing exchange FTX. On Thursday, the CEO of the largest cryptocurrency exchange in the world tweeted that he had spoken to President Nayib Bukele, who had denied
November 11, 2022 2 mins read
Coinbase’s newest wave of layoffs is an indication that the exchange may still be seeking to reduce expenses in the current crypto bear market. According to Thursday’s report by The Information, more than sixty employees in Coinbase’s recruitment and institutional onboarding divisions will be let go. Just five months ago,
November 11, 2022 2 mins read
