Day: 17 November 2022

A lawsuit has been filed against the Golden State Warriors and other American celebrities for promoting the now-defunct cryptocurrency exchange FTX.  Edwin Garrison, an Oklahoma resident, and others filed the lawsuit after they kept an FTX yield-bearing account filled with crypto assets to generate interest.  Several people were listed as ...

Popular artist Justin Bieber purchased a Bored Ape NFT for $500 and 16 ETH, worth $1.3 million at the beginning of the year. Today, the NFT's worth is $59 and 16 ETH.   NFT Price Floor, a data and analytics platform for NFTs, revealed the floor price of a Bored NFT ...

Binance CEO Changpeng Zhao (CZ) recently shared his thoughts on the six things to do to ensure a healthy centralized exchange. Binance is, without a doubt, the most successful centralized crypto exchange. It hardly ever surfaces in any scandal and has waxed strong for years.  Recent happenings in the crypto ...

Adidas, one of the world's leading sportswear brands, has unveiled its blockchain-powered virtual wearables, a limited collection of NFT known as "Virtual Gears."  According to Adidas, the launch accelerates Adidas Originals' drive towards strengthening its community-based, member-first, open metaverse strategy. INTRODUCING ADIDAS VIRTUAL GEAR Unveiling the genesis collection of adidas ...

Since crypto giant FTX declared bankruptcy on November 11, 2022, the crypto industry has been fraught with uncertainty. Even as the entire crypto industry comes to terms with FTX's fall from grace, some industry heavyweights continue to believe in Bankman Fried. Despite losing money in FTX's shocking collapse, Canadian businessman ...

Flipside, a leading blockchain ecosystem growth and analytics company, has launched Badger, an essential solution for Web3 organizations. Organizations can distribute Web3 keys to contributors and employees using Badger, allowing them to implement and control flexible group policies for their team's decentralized tool stack. One web3 feature that will *actually* ...

Binance, the world's largest crypto exchange, has secured approval from Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Market (ADGM). The exchange has been granted Financial Services Permission (FSP), allowing it to provide services to clients. An official announcement from the UAE capital's financial centre confirmed this. The FSP ...

Bankman-Fried took to Twitter on Wednesday to inform his followers that "there was too much leverage—more than I realized" in his business. This came barely hours after he stated that FTX US had sufficient funds to reimburse customers.  The crisis's aftermath jeopardizes the future of crypto lenders such as BlockFi ...

According to JS Held, a New York consulting firm has revealed that the Luna Foundation Guard (LFG) spent $2.8 billion defending its stablecoin $UST’s peg. The LFG disclosed the audit report via its Twitter handle. The audit was carried out to provide transparency and accountability in the aftermath of the ...

The contagion effect of the FTX liquidity crunch seems not to be letting up. Another exposed firm, Genesis, the crypto lending unit of Genesis Global Trading, has halted withdrawals and the issuance of new loan permits. The announcement was made via the platform's Twitter account. We recognize how challenging this ...