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Value Locked in Defi at Its Lowest Point Since March 2021, Smart Contract Tokens Shed $22 Billion in 36 Days

16.11.2022
Smart contract platform tokens and decentralized finance (defi) protocols have taken a beating since the FTX collapse last week. The market capitalization of all the smart contract platform tokens in existence lost more than $22 billion during the last 36 days. The total value locked (TVL) in defi...

Matter Labs Nets $200M to Build zkSync Ethereum Scaling Platform

16.11.2022
A week after zkSync V2’s “baby alpha” launch, Matter Labs said it would open-source its code and push for improved standards around rollup development

zkSync developer Matter Labs raises $200M, commits to open-sourcing platform

16.11.2022
Over 150 projects, including Chainlink, Uniswap and Aave, have signaled their intent to deploy on the layer-2 blockchain

Turkey’s Financial Intelligence Unit Launches Investigation Into FTX Collapse

16.11.2022
The Turkish agency responsible for tackling money-related crime has initiated an investigation against troubled crypto exchange FTX. Days after the trading platform filed for bankruptcy in the United States, the department revealed it has been tracking its activities in Turkey. Turkish Financial...

Crypto Lender BlockFi Pauses Platform Activity, Prepares for Bankruptcy Amid FTX Drama

16.11.2022
Crypto lender BlockFi has continued to pause withdrawals amid the fallout of cryptocurrency exchange FTX, saying that they are exploring all scenarios to find the best path forward.... Read More: Crypto Lender BlockFi Pauses Platform Activity, Prepares for Bankruptcy Amid FTX Drama

Yellen Says FTX Collapse Shows Weaknesses of Entire Crypto Sector — Fed’s Brainard Pushes for Strong Regulation

16.11.2022
U.S. Treasury Secretary Janet Yellen and Federal Reserve Vice Chair Lael Brainard have stressed the need for strong crypto regulation. Yellen said the FTX collapse shows “the weaknesses” of the entire crypto sector while Brainard cautioned that failures from one platform...

Online Investing Platform BnkToTheFuture Drops Plan to Acquire Crypto Lender Salt Lending Due to FTX Exposure

15.11.2022
The deal fell apart just about two months after it was announced

2 More Crypto Platforms Pause Withdrawals as Liquid Global and Salt Lending Cite Exposure to FTX

15.11.2022
On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals “until further notice.” The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused withdrawals and deposits. Furthermore, the crypto lender...

The Tax Impact of This Year’s Platform and Protocol Failures

15.11.2022

Crypto.com’s Exposure to FTX Less Than $10 Million Says CEO — CRO Token Not Used as Collateral

15.11.2022
According to the CEO of Crypto.com, Kris Marszalek, his firm had recovered much of the $1 billion that had been sent to FTX when the crypto exchange collapsed. However, he acknowledged that at the time of FTX’s collapse, Crypto.com’s exposure to the crypto platform was below...

Nike Launches Web3 Platform Offering Virtual Apparel and Other NFT-Based Products

15.11.2022
Sportswear giant Nike has launched .Swoosh, a new Web3 platform that will be used to launch virtual apparel like t-shirts and sneakers for avatars. Nike became one of the biggest fashion-world players in Web3 in mid-December last year when the company acquired RTFKT, a virtual sneakers company...

Nike steps up its Web3 platform with .SWOOSH launch

15.11.2022
Nike has quickly pulled up its socks to realize that the new generation of athletes and fans are shifting their focus to the upcoming Web3 technology. Taking note of this point, Nike has announced .SWOOSH, a project that houses several virtual collections of the brand while giving its co-creators...

Huobi Becomes Latest Crypto Exchange to Disclose Proof-of-Reserves

15.11.2022
Huobi, the Seychelles-based crypto exchange, recently became the latest digital asset exchange platform to reveal the number as well as the value of its digital assets held in reserves. Huobi has said disclosing the assets held in reserves helps to boost users’ confidence in the exchange...

Nifty News: Nike unveils NFT platform, Steve Jobs' sandals sell for $200K and more

15.11.2022
A one-of-a-kind NFT of the Birkenstocks sandals worn by Apple co-founder Steve Jobs at various times during his life has sold for over $200,000

Crypto Lender BlockFi Updates Users on Platform, FTX Exposure

14.11.2022
BlockFi said withdrawals remain paused, and denied rumours that most of its assets being custodied on fTX

US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Gold Coins

14.11.2022
According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after “direction from U.S. federal law enforcement.” Paxos...

Green Crypto Platform IMPT Just Added Samsung and Netflix as Affiliate Partners - Time to Buy?

14.11.2022
IMPT is a brand new green cryptocurrency focused on revolutionising the space of carbon credits, and has recently been onboarding even more companies to its platform through its affiliate programme, with Netflix and Samsung having just been added. The Impact Project is focused on making the world...