The Financial Secretary of Hong Kong has urged for a greater emphasis on transparency and adequate supervision when dealing with virtual assets, just days after Binance CEO Changpeng “CZ” Zhao warned of the advent of more regulatory scrutiny in the wake of the FTX crash. Paul Chan, Hong Kong’s Financial
November 15, 2022 1 min read
Among Russian banks, VTB Bank is the first to design a prototype that would let customers utilize the digital equivalent of the country’s fiat currency to fund accounts and make transactions using the bank’s mobile app. The bank’s press service indicated that in 2023, certain customers will be given the
November 14, 2022 1 min read
Transparency about the actual deposits held by crypto exchanges and companies is especially important in light of the failure of significant crypto ecosystems this year, such as FTX and Terra LUNA. Bitfinex, a cryptocurrency exchange, just made public their proof of reserves amidst widespread FUD in the crypto sector. In
November 12, 2022 1 min read
One of the world’s best soccer talents and a current member of the Paris Saint-Germain soccer club, Lionel Messi, has joined the ranks of the NFT card trading game Sorare as an investor and brand ambassador. The goal of the player’s presence is to increase awareness of Sorare and boost
November 12, 2022 2 mins read
More than one possible savior has backed out as the cryptocurrency exchange FTX struggles to plug a multi-billion dollar hole in its financial sheet. After Binance, Tether’s CTO Paolo Ardoino said on November 10 that the business has “any plans to invest or lend money to FTX/Alameda.” Tether does not
November 11, 2022 2 mins read
In light of the recent reports about FTX’s liquidity crisis and allegations of manipulation of client cash, cryptocurrency prices have fallen this week, and the market volatility may have even spread to the NFT industry. Moreover, in light of the recent decline in the price of Ethereum, investors may be
November 11, 2022 1 min read
OpenSea, the most prominent NFT marketplace, has declared that despite strong community resistance, it would continue to demand creator royalties on NFTs. Following a spate of competing marketplaces that had either rejected such fees or made them optional for traders to pay, OpenSea said on Saturday that it was reviewing
November 10, 2022 2 mins read
FTX CEO Sam Bankman-Fried is currently in a delicate position as Binance cut off the idea of any possible relationship with FTX. Tron’s founder Justin Sun alluded to a possible deal with cryptocurrency exchange FTX hours after Binance pulled out. The Tron founder added that his staff is working with
November 10, 2022 2 mins read
Following Binance’s announcement that it will acquire FTX, Coinbase CEO Brian Armstrong went to Twitter to address customers’ worries about the exchange’s impact on his company. Armstrong began by expressing his empathy for everyone affected by the present FTX issue. In a series of Twitter threads, Armstrong cleared out a
November 9, 2022 2 mins read
As a result of the recent announcement that Binance would acquire Sam Bankman-Fried’s FTX. The popular trading platform Robinhood has seen its share price drop by over 20% to roughly $9.74. FTX had previously purchased a 7.6% stake in Robinhood in May. Prior to the announcement of the FTX acquisition,
November 9, 2022 1 min read
