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Binance, the top cryptocurrency exchange in the world, declared on Wednesday that it will not proceed with the acquisition of FTX. As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will
Though a big hot flash news, yet not a one to be surprised of, is what comes into mind when Elon Musk is behind the wheels as the driver. Ofcourse, the news leaks obviously took both the social media platform Twitter, and the crypto industry sky rocketing up with the
World’s one of the most prominent cryptocurrency exchanges FTX CEO Sam Bankman-Fried’s total net worth fell by nearly 94% to $991.5 million in a single day. Also, he has disappeared from the Bloomberg Billionaires Index. Prior to FTX financial crisis, SBF’s personal wealth was estimated to be $15.2 billion, as
Binance CEO Changpeng Zhao confirmed the largest exchange’s move to “fully acquire” its rival FTX on Twitter on Tuesday, putting an end to all the speculations. Binance signing a non-binding letter of intent (LOI) with FTX.com marked the initiation of the bailout. This afternoon, FTX asked for our help. There
The CEO of Binance, Changpeng “CZ” Zhao, announced that his exchange would soon launch a Proof-of-Reserves audit mechanism to enable verification of its holdings of digital assets in the wake of the liquidity issue and the acquisition of cryptocurrency exchange FTX. All crypto exchanges should do merkle-tree proof-of-reserves. Banks run
The tech sector’s most recent tussle is the massive layoffs in every other company. An increase in the inflation rate has pushed the firms to the corner of reducing the workforce count. The Kobeissi Letter, the leading commentator on the global capital market produced a summarization of the layoff percentages
Though not a fully developed economical country, with the current progress with its crypto ecosystem, Brazil is all set to soar high in the coming years. Yes, true to the fact the Brazilian Tax Authority known as the Receita Federal do Brasil (RFB) reveals the status of the country’s crypto,
Now in its 2nd year, Decipher is a leading annual conference on blockchain and Web3 use cases. Hosted by the Algorand Foundation, Decipher will present its 2022 edition in Dubai, UAE – a burgeoning crypto capital – and feature top industry voices from FTX, SkyBridge Capital, Envision Racing, Napster, Binance,
The news was confirmed by Ripple’s development team, who advised XRP holders to treat themselves to NFTs on the XRP Ledger. The XRP Ledger was the first blockchain to allow asset tokenization. Whether fungible or non-fungible, the XRP Ledger’s built-in tokenization capability and built-in decentralized exchange (DEX) are perfect for
It was revealed on Monday, along with a published copy of the judgement that the Securities and Exchange Commission (SEC) had prevailed in its action against LBRY, Inc., the business behind the LBRY protocol. LBRY tweeted: “We lost. Sorry everyone. We’re going to lick our wounds for a little bit
