Call it a true hack or not, for sure all the crypto geeks could evidently get a clear picture upon what all FTX has been trying to do! The CEO of FTX resigning on the morning of November 11th, and the platform getting hacked the very same day night despite
Due to a severe lack of funds, cryptocurrency exchange FTX announced on Friday morning that it has filed for bankruptcy protection under Chapter 11. The previously $32 billion exchange suddenly collapsed due to a liquidity issue, and the company announced the resignation of former CEO and billionaire Sam Bankman-Fried. John
Ever since the fight between FTX and Binance, things have been taking a quite different approach throughout the entire crypto industry. With the onset of the rivalry between CZ and Sam, both being the CEOs of top crypto exchanges, indeed affected the entire global crypto industry on many terms. Though
FTX has formally declared bankruptcy. Liquidity dried up, user funds were frozen, and competitor exchange Binance pulled up its non-binding deal to purchase FTX, sending the firm from a $32 billion value to insolvency in a matter of days. The processes are entirely optional for Alameda Research and the other
Blockchain Crypto Investment Group, LBank Labs, announces the establishment of their new crypto investment fund targeted towards web3 development in Africa. LBank Labs plans to establish a series of regional development funds, including regions such as Korea, South East Asia, and more. This is the first of the sequence of
Crypto.com, the Singapore-based crypto exchange firm, has made a recent announcement after it pledged to publish “audited proof of reserve.” According to a recent tweet from Kris Marszalek, the CEO of Crypto.com, the platform will publish the list of cold wallet addresses and balances for major digital assets within 24
Genesis Trading, the market maker and lending arm of Digital Currency Group, disclosed that its derivatives division had over $175 million funds stored in an FTX trading account. Also, the trading company confirmed that it has no ongoing business ties with FTX or Alameda Research, the cryptocurrency trading company run
According to a press release on Thursday, Bahamian officials have frozen the assets of FTX Digital Markets and linked parties as a “prudent course of action” to preserve assets and stabilize the company. Brian Sims, a senior partner at Lennox Paton, was chosen by the Securities Commission of the Bahamas
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
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
