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 the FTX crypto exchange created a great impact on the whole crypto space. Still the market is bearish with downfall in prices of all crypto assets and in all crypto related businesses. In that case, after the collapse FTX filed a bankruptcy in the court to solve
The FTX crypto exchange became obsolete after its sister company Alameda Research had its felonious hands over the FTX Users’ funds. FTX along with its 130 more affiliated companies commenced their voluntary chapter 11 under the U.S. Bankruptcy code. According to the U.S. District Court, the debtors (FTX) paid $12
The Securities and Exchange Commission (SEC) of the United States is increasing its scrutiny of audit firms’ work with cryptocurrency companies. A senior US SEC official has urged investors to be “extremely careful” of relying on a crypto company’s “proof-of-reserves.” Paul Munter, SEC’s acting chief accountant stated: “We’re warning investors
Crypto industry is experiencing a hectic phase with strict regulations are also emerging on the other scale. As the current situation is at its worst, all business giants, financial institutions, and investors have lost hope in the market scope. Due to this bad scenario, Australian crypto exchange, Swyftx and online
Decentralized (DEX) crypto exchange Uniswap has collaborated with financial firm Moonpay to create a bridge between DeFi and traditional currencies. According to the cryptocurrency exchange, the partnership enables Uniswap users to buy digital assets using a bank account or supported credit or debit card. Fiat currency Entered into Uniswap Uniswap
The year 2022 offered great challenges for the crypto industry, suffering from a bearish trend till date. Many significant crisis affected the market by shrinking the prices of all cryptocurrencies, especially the king coin, Bitcoin (BTC). As a result, there is a huge downfall of over $2.2 trillion in the
Goldman Sachs (GS), one of the world’s leading digital banking platforms, announced plans to invest $10 million to buy or invest in crypto firms whose valuations have been impacted by the demise of the crypto exchange FTX. According to Reuters, Goldman Sachs’ head of digital assets Mathew McDermott stated that
The Japanese unit of the insolvent crypto-empire FTX announced that it is striving to allow users to withdraw their funds. FTX Japan opens the door in the mid of the extremely unprecedented circumstance in which investors withdraw funds back from the bankrupt exchange. Sam Bankman Fried’s FTX Japan momentarily halted
The Collapse of the popular crypto exchange FTX, has really affected hundreds of thousands of investors around the world. In fact the entire crypto market crashed due to the liquidity crunch of FTX, causing global ripple effects. In addition, the price fall of Bitcoin is one of the great losses
