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NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency
23.1.2023
“A VCE's customer agreement should make clear the parties’ intentions to enter into a custodial relationship, rather than a debtor-creditor relationship," said the NYDFS
In Wake of FTX, New York Reminds Crypto Firms to Segregate Customer Funds
23.1.2023
After crypto exchange FTX's bankruptcy proceedings revealed poor segregation of customer funds, the New York regulator is reminding service providers to keep clean records
US Government Seizes $700 Million in Assets From Disgraced FTX Co-Founder Sam Bankman-Fried
21.1.2023
Federal prosecutors have seized $697 million in assets, mostly comprised of more than 56 million Robinhood shares worth $526 million, from FTX co-founder Sam Bankman-Fried. Court filings detailed that the U.S. government seized a series of bank accounts belonging to Bankman-Fried, holding millions...
Switzerland Less Affected by Crypto Industry Crisis, Study Finds
21.1.2023
While the global industry built around digital assets is losing funds and jobs are dropping off, Switzerland seems to be weathering the storm relatively well, one piece of research claims. In fact, more crypto companies settled in the country during the past turbulent year than those that left...
Fairfax County, Virginia Pension Funds Exposed to Genesis Bankruptcy
20.1.2023
Two Washington, DC-area pensions invested $35 million in a VanEck fund listed as a Genesis creditor
Former FTX US President Manages to Raise Funds From Coinbase, Circle for His New Firm After Publicly Blasting SBF
20.1.2023
Brett Harrison, former president of FTX US, has managed to raise funds from major crypto investors such as Coinbase Ventures and Circle Ventures after publicly blasting FTX founder Sam Bankman-Fried.
According to a Friday report by Bloomberg, Harrison has raised $5 million for his new crypto...
FTX’s $5.5 Billion in Alleged ‘Liquid Assets’ Includes Locked SOL Cache and Illiquid FTT Holdings
19.1.2023
Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid...
CoinDesk could be up for grabs as parent company DCG scrambles for funds
19.1.2023
DCG has reportedly received offers for CoinDesk exceeding $200 million in recent weeks, which at a purchase price of $500 thousand would be a 39,900% return on its initial investment
First Mover Asia: FTX’s Illiquid Holdings Filled With Tokens That Sit in Venture Funds in Which It Invested; Bitcoin Falls Below $21K
19.1.2023
A good portion of FTX's illiquid tokens can be found on the balance sheet of funds, including Sino Global and Multicoin Capital. FTX invested in these funds, and their names often appear alongside FTX as co-investors in projects
Sam Bankman-Fried Disputes FTX US ‘Shortfall’ Claims, Critics Skeptical of Excel Spreadsheet Defense
18.1.2023
Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his Substack newsletter. SBF stated that the presentation published by litigation firm Sullivan &...
Sao Paolo Court Ruled Against Binance in User Withdrawal Related Case
18.1.2023
A court in Sao Paolo, Brazil, ruled against Binance in a case in which the leading cryptocurrency exchange faced a withdrawal-related complaint. A user, who introduced a lawsuit against the exchange because he couldn’t retrieve his funds from the platform, received almost $2,000 in damages...
DeFi, DAOs and NFTs: Crypto is redefining how charities raise funds
17.1.2023
Crypto donations are so much more than just peer-to-peer Bitcoin and Ether transactions
Onchain Researchers Discover $63M in Ethereum From Harmony Bridge Attack Moved, Hackers Attempt to Launder Funds on Major Exchanges
16.1.2023
On Jan. 15, 2023, onchain researchers discovered that funds stolen during the Harmony bridge attack had been moved. The suspected thieves, who are allegedly associated with the North Korean hacking syndicate Lazarus Group, moved 41,000 ethereum, worth $63.2 million at current exchange rates....
Binance, Huobi team up to recover $2.5M from Harmony One hackers
16.1.2023
In a recent tweet, on-chain crypto detective ZachXBT said that the hackers have been moving $64 million in the last weekend
Former FTX US President lashes out at 'insecure' SBF in 49-part Twitter thread rant
15.1.2023
Harrison said Bankman-Fried threatened to fire him on the spot and would destroy his professional reputation if he continued to confront the former FTX CEO
Disgraced FTX Co-Founder Awaits Trial, Passes Time Playing Video Games and Blogging on His New Substack Newsletter
13.1.2023
The former CEO of FTX, Sam Bankman-Fried (SBF), has published a Substack newsletter on Jan. 12, 2023, and the first post is titled “FTX Pre-Mortem Overview.” In the post, SBF maintains that an “extreme, quick, targeted crash precipitated by the CEO of Binance made Alameda...
Sam Bankman-Fried: 'I didn’t steal funds, and I certainly didn’t stash billions away.'
12.1.2023
The former FTX leader denied any involvement In regards to the allegations Alameda had used FTX customer funds, and said he was pressured into naming John Ray as CEO
Sam Bankman-Fried Denies Stealing FTX Funds in New Online Post
12.1.2023
The former FTX CEO ascribed the exchange's collapse to a targeted attack by Binance, Alameda’s poor hedging and the crypto market meltdown
WazirX releases proof of reserves with majority of funds in Binance wallets
11.1.2023
The cryptocurrency exchange released its proof of reserves and proclaimed to be India’s largest exchange both in volume and reserve funds
Introducing Civilization Network, the Gate to DEFI – Presale Live Token Listing January 23
11.1.2023
PRESS RELEASE. In the crypto world, 2022 was one of the most challenging years. In the wake of the FTX bankruptcy, users lost trust in centralized exchanges and began to question the security of client funds stored on centralized exchanges. Most of the top exchanges, including Binance, had been...