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FTX Violated Its Own Terms of Service and Misused User Funds, Lawyers Say
10.11.2022
Although FTX’s terms of service prevented it from using customer’s crypto, lawyers told CoinDesk that its swift downfall indicates the funds were misused
FTX Used Customer Funds Among Other Assets to Prop up Alameda Research in May: Reuters
10.11.2022
FTX founder Sam Bankman-Fried transferred at least $4 billion in FTX funds
Egyptian Fintech Raises $31 Million in Series B Funding Round
10.11.2022
Moneyfellows, an Egyptian fintech startup specializing in digitizing money circles, recently announced the close of its Series B funding round that raised $31 million. The funds will be used to finance Moneyfellows’ expansion into other markets as well as accelerate the fintech’s...
Binance Backs Out of Buying FTX Crypto Exchange, Cites Mishandled Customer Funds and Regulator Investigations
9.11.2022
Binance is pulling out of the deal to buy FTX. On Tuesday 8 November, Binance signed a letter of intention to acquire the failing crypto exchange, although at the time it said the agreement was subject to a due diligence process.
But as the contagion from the collapse of the FTX leads to...
Binance Backs out of FTX Deal Citing ‘Due Diligence,’ Reports of ‘Mishandled Customer Funds’
9.11.2022
The world’s largest cryptocurrency exchange Binance will not go through with purchasing the rival crypto exchange FTX. The company noted that after due diligence and “news reports regarding mishandled customer funds,” Binance has decided not to pursue the FTX acquisition....
Hostaged FTX Funds Firesaled for Pennies on the Dollar in OTC Trades
9.11.2022
Insolvent crypto exchange FTX halted crypto withdrawals on Tuesday, leading panicked customers to offload their bags amongst themselves at steep discounts
US Regulators Probing FTX Handling of Customer Funds: Bloomberg
9.11.2022
FTX chief Sam Bankman-Fried denied customer funds were being re-invested in a now deleted tweet posted on Monday
Why Did FTX Pause Withdrawals if It Wasn't Trading Customer Funds?
9.11.2022
As the crisis at Sam Bankman-Fried's formerly trusted exchange continues, everything hinges on one key question: Where's the money?
Hong Kong ‘Actively Looking’ to Establish Regulatory Framework to Allow Crypto Futures ETFs: Report
9.11.2022
Hong Kong’s Securities and Futures Commission (SFC) is “actively looking” to create a regulatory framework that allows crypto futures exchange-traded funds (ETFs), an SFC official reportedly said. “We have come to believe that some initial concerns about virtual asset...
Abu Dhabi Fintech Startup Raises $20 Million in Series B Funding Round
9.11.2022
Abu Dhabi-based fintech, Pyypl, announced on Nov. 7 that it had raised $20 million in Series B funding and this brought the total of funds raised to nearly $40 million. Pyypl has said it plans to use the recently raised funds to develop and add new features to its proprietary technology....
Gofaizen and Sherle Introduce Full-Cycle Online Accounting In Lithuania
9.11.2022
PRESS RELEASE. Gofaizen & Sherle is a legal and business consulting firm specializing in digital asset-based businesses, financial institutions and investment funds. Having been founded in September 2021, the company has successfully gained a portfolio of hundreds of different projects...
BitDAO Community Asks Alameda for Proof of Funds After BIT's Sudden 20% Drop, Threatens to Dump FTT
8.11.2022
The BitDAO community has threatened to sell FTT tokens if Alameda fails to provide evidence that it continues to hold FTT tokens as promised. Alameda has promised to provide the evidence soon
The Fed Codifies Fourth Consecutive 75bps Rate Hike — Stocks, Bitcoin, and Metals Rise
2.11.2022
The U.S. Federal Reserve introduced another jumbo rate hike on Wednesday, Nov. 2, 2022, by hiking the federal funds rate (FFR) by 75 basis points (bps). The American central bank said on Wednesday that the hike aims to curb inflation and the Fed says “recent indicators point to modest growth...
Bitcoin Options Giant Deribit Loses $28 Million in Hot Wallet Hack
2.11.2022
The world’s largest bitcoin options exchange, Deribit, was hacked for close to $28 million, according to an update from the company’s official Twitter account on Nov. 2. Deribit says that the firm’s hot wallet was drained just before midnight the day prior. Crypto Derivatives...
Cross-chain DEX Rubic Loses Over $1M in Funds After Hackers Gain Access to Private Keys
2.11.2022
Developers suspect the attackers used malicious software to access the admin wallet's private keys
S Korean Gov’t Worker ‘Embezzled Public Funds and Escaped with $2.8m in Crypto’
27.10.2022
A missing South Korean government worker is thought to be on the run with $2.8 million worth of public funds stolen from the country’s National Health Insurance Service (NHIS) – and the suspect appears to have converted most or all of the money to crypto....
Read More: S Korean Gov’t Worker...
Blockchain.com Launches Crypto Visa Card With 1% Cashback Crypto Rewards
27.10.2022
Crypto firm Blockchain.com has announced the launch of a new crypto-centric pre-paid Visa card and so far, 50,000 users have registered for the waitlist signup. In addition to launching its crypto Visa card powered by the card issuing platform Marqeta, Blockchain.com Visa users will earn 1% back...
Apple Unveils Stricter App Store Rules for Crypto and NFTs — Critic Says Firm Wants to Keep Money in Its Ecosystem
26.10.2022
According to Apple’s latest guidelines for developers seeking to have their apps included in the App Store, crypto exchange applications should only facilitate the transfer of crypto funds to approved exchanges. Where payments are needed to unlock features or functionality, Apple says apps...
Almost 50% of Gen Z and Millennials want crypto in retirement funds: Survey
26.10.2022
Nearly half of Gen Z and Millennials are also already invested in digital assets outside of their retirement funds and cited “inflation” as the biggest obstacle to early retirement
A Crypto Rewards Platform That Promised 40% APY Halts Withdrawals, Citing ‘Market Fluctuations’
24.10.2022
A crypto rewards platform called Freeway.io has notified users that it decided to reallocate capital in order to “manage exposure to future market fluctuations and volatility.” In doing so, users are unable to withdraw funds from the platform, and the Freeway team explained that amid...