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Tether’s CTO Paolo Ardoino Has No Plans Pulling Up Falling FTX

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

Coinbase Announces New Wave of Layoffs Firing Over 60 Employees

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

Japanese Regulator Orders FTX Japan To Cease Operations

Japan’s Financial Services Agency (FSA) has reportedly ordered the local branch of FTX to shut down, according to a statement issued on Thursday. The decision states that effective immediately, FTX Japan is to discontinue all operations as a cryptocurrency exchange. Including the acceptance of new customers, and will not resume

November 10, 2022 1 min read

Tether Reportedly Freezes $46M in USDT Linked to FTX

Tether reportedly froze $46 million USDT at the request of law authorities. The trusted stablecoin provider has fulfilled the request, which may have been related to the FTX exchange. Little is known about the nature or goals of the inquiry beyond the fact that it is taking place. A  Tether

November 10, 2022 1 min read

Binance Discloses Holdings Data of 6 Coins Totaling Approx $70B

The cold wallet addresses of Binance, the biggest cryptocurrency exchange in the world, have been made public. Binance’s continuous dedication to openness was highlighted as a reason for the change. However, throughout the next weeks, the cryptocurrency exchange will be publishing Merkle tree proof of funds. #Binance published cold wallet

November 10, 2022 2 mins read

FTX CEO Reportedly Moved $4 Billion To Struggling Alameda Research

According to a Reuter’s report, when Alameda Research suffered a string of losses in its operations, FTX continued to assist the company using consumer monies. The loss of a $500 million loan agreement with the now-defunct crypto lender Voyager Digital was one of the biggest. The American branch of FTX

November 10, 2022 1 min read

Crypto.com Soon To Implement Proof-Of-Reserve

As a result of the collapse of the competitor exchange FTX, Crypto.com CEO Kris Marszalek has become the newest cryptocurrency corporation to pledge to “audited Proof-Of-Reserve.” We share the belief that it should be necessary for crypto platforms to publicly share proof of reserves and https://t.co/pFc4Pz9nFR will be publishing our

November 10, 2022 1 min read

Tron Founder Justin Sun Bailing Out FTX Likely Possible

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

Sequoia Capital Drops Its FTX Holdings to $0, Following “Liquidity Crunch”

Sequoia Capital, the US-based venture capital firm, has dropped its FTX investment to zero dollars. In a recent letter to investors, Sequoia Capital disclosed that the platform was writing down the entire value of its holdings in the FTX exchange. The VC platform has clarified its latest decision by citing

November 10, 2022 1 min read
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