Fri, October 9

Hedge Fund Galois to Shut Down After Losing Funds in FTX

Today the world’s leading crypto hedge fund Galois Capital announced its closure after losing significant funds in the cryptocurrency exchange FTX collapse. Galois stated in a tweet, “Thank you all for the kind words. Yes, it is true that our flagship fund is shutting down”.  I appreciate the outpouring of

February 20, 2023 2 mins read

Crypto Exchange OKX Releases February Proof-of-Reserves Report

The most recent Proof-of-Reserves report shows that OKX is over-collateralized. With reserve ratios of 104% for bitcoin (BTC), 104% for ether (ETH), and 102% for USDT. Since its Proof-of-Reserves website went up at the end of last year. The exchange claims that more than 175,000 unique visitors have checked it

February 20, 2023 1 min read

Former FTX Exec Nishad Singh Reportedly To Plead Guilty

It has been reported that Nishad Singh, a former executive of the crypto exchange FTX, is to plead guilty to fraud charges related to the collapse of the exchange. Singh used to be the head of engineering and was considered to be in Sam Bankman-Fried’s inner circle. According to Bloomberg,

February 20, 2023 2 mins read

JPMorgan Lowers Coinbase Stock Price Objective From $60 to $52

According to a report released by JPMorgan on Friday, analysts have reduced their price objective for Coinbase (COIN) shares from $60 to $52. JPMorgan said that the key reasons for the change in view include the continuous regulatory concerns to the company’s digital-focused businesses such as staking, USDC stablecoin, and

February 19, 2023 1 min read

Coinbase CEO Brian Armstrong Demands For Clear Crypto Regulations

Brian Armstrong, CEO of Coinbase, a cryptocurrency exchange, has urged lawmakers to establish clear crypto regulations. In addition to Armstrong, many others have voiced their dissatisfaction with the ambiguity of U.S. crypto policy, claiming that it makes it impossible for businesses to operate within the law. Yet, Gary Gensler, head

February 18, 2023 2 mins read

Crypto Exchange Binance Launches Mastercard Debit Card in Brazil

Binance, the world’s biggest crypto trading platform, has released a Mastercard debit card in the country of Brazil. Binance now offers its customers a debit card that can be used at any location that accepts Mastercard to make purchases using their cryptocurrency holdings. In addition to the many places where

February 16, 2023 1 min read

$1.4 Million Worth of Stolen Funds Frozen by Binance and Huobi

Binance and Huobi, two major cryptocurrency exchanges, have once again frozen accounts. This time its related to the June 2022 $100 million Harmony Horizon bridge attack. The trading platforms blocked almost $1.4 million in cryptocurrency that was traced to accounts associated with the infamous Lazarus Group in North Korea. Based

February 15, 2023 2 mins read

South Korean Authorities Investigating Staking Program Post Kraken Settlement

On February 15th, a media outlet claimed that the Korean Financial Services Authority was investigating the staking services industry. Concerns expressed by members of the cryptocurrency community regarding the fallout from the recent settlement between the SEC and Kraken in American court seem to be materializing. In the wake of

February 15, 2023 1 min read

Ripple Provides $1M in XRP for Earthquake Victims in Turkey

Ripple announced that it would contribute money to help those affected by the earthquakes in Turkey and Syria along with other businesses in the cryptocurrency sector. The commitment of $1 million in XRP by Ripple to help NGOs made public on February 15.  According to estimates, a 7.8 magnitude earthquake

February 15, 2023 1 min read

Binance Appoints Former Gemini Executive as New CCO

The largest cryptocurrency exchange Binance onboarded Noah Perlman, crypto exchange Gemini’s former C-suite executive, as its new Chief Compliance Officer. Evidently, Binance is reinforcing its compliance team through significant hiring to insulate itself from growing regulatory scrutiny. The news about this prominent hiring was first reported by Bloomberg on Monday,

February 15, 2023 2 mins read