Financial Services Agency (FSA) of Japan Deputy Director-General Mamoru Yanase has called for more worldwide controls on the cryptocurrency sector. According to him, cryptocurrency exchanges need to be regulated like traditional financial institutions. Moreover, Yanase argues that authorities may avoid another crypto platform collapse by treating them like banks. The
The bankruptcy court supervising FTX’s case has allowed the troubled cryptocurrency exchange permission to liquidate some of its assets in an attempt to repay its creditors. According to paperwork submitted to the Delaware Bankruptcy Court. Judge John Dorsey has authorized the sale of four key subsidiaries of FTX. LedgerX, Embed,
Reports from legal counsel indicate that FTX has recovered approximately $5 billion in cash and cryptocurrency. As a result, this finding has a substantial effect on the amount of assets that may be recovered from the company’s original bankruptcy filing in November of last year. The rumored $425 million being
Elon Musk, the CEO of Tesla Inc. and Twitter, has descended from the no.1 spot to become the world’s second richest person. His tragic loss of over $200 billion in a year gets recorded in the Guinness World Records as “ the largest loss of personal fortune in history.” According
Sam Bankman Fried’s (SBF) former roommate and confidant is reportedly looking to secure a plea deal. Nishad Singh, the former engineering chief at FTX, reportedly met with federal prosecutors to join Bankman Fried’s inner circle and negotiate a cooperation agreement in the fraud case involving the collapse of the cryptocurrency
With the help of a $3 million grant, DeLabs, the company behind the popular Solana NFT collections DeGods and y00ts, migrated y00ts to the Ethereum sidechain Polygon. Frank (aka Rohun Vora), the company’s founder, said in a Discord post that the money will be used for recruiting and the establishment
CoinSwitch, a cryptocurrency trading platform, has released its proof of reserves, revealing that the total value of user assets held as of January 6, 2023, is approximately $131.096 million, or 1,083.45 crores. Amounts held in the wallets indicated total about $112.99 million, or 933.83 crores. Reveals $131.09 Million in Assets
The demise of FTX is still making headlines, even in 2023. The collapse of one of the leading cryptocurrency exchanges has resulted in a significant fall in the global crypto industry. Since then, a series of court hearings have been ongoing against FTX’s CEO, Sam Bankman-Fried, and affiliated personnel of
Financial services company Cowen’s analysts lowered their rating on cryptocurrency exchange Coinbase on Thursday. Following FTX’s demise and the general fall in trading volumes in the cryptocurrency market. Crypto firms are under closer scrutiny than ever. The price of COIN dropped by 8.89% at the time of writing, and it
Despite the prominent cryptocurrencies trading in the red, a new doge-themed Bonk ($BONK) token has significantly surged by over 1622% since the trading began on December 29, 2022. At the time of writing, the robust price performance boosted the new memecoin to attain an all-time high of $0.00000154. In the
