Day: 23 December 2022

Sam Bankman-Fried, the former CEO of the now-bankrupt FTX crypto empire, was extradited from the Bahamas to the U.S. this week to face fraud charges and the illegal movement of customer funds. After his extradition was approved on Wednesday, he was brought to a U.S. federal court in New York ...

OpenSea, a marketplace for non-fungible tokens (NFTs), has barred artists and collectors from Cuba, citing U.S. sanctions as the main reason for this action. According to the terms of service for the OpenSea marketplace, users and individuals from sanctioned countries are not allowed. It is already known that the NFT ...

Over the next three years, G-Rocket, a startup accelerator co-founded by Hong Kong Legislative Council members Jonny Ng Kit-Chong and Casper Wong in 2016, plans to attract 1,000 Web3 companies to the city.  As part of Hong Kong's efforts to reclaim its status as a hub for virtual assets, the ...

Since the FTX crash, Binance, a leading global cryptocurrency exchange, has had to deal with fear, uncertainty, and doubt (FUD). In response to the FUD, Binance released a blog post in Chinese on December 22 that addressed seven key points.  One of these topics addressed was the temporary suspension of ...

Binance Labs, the investment division of the crypto exchange Binance, has reportedly achieved a historical return on investment of up to 2,100%. According to a recent blog post, the total assets under the firm's management have reached $7.5 billion.  The platform also assured users that "financial status is very healthy" ...

OKX, a cryptocurrency exchange known for its high trading volume, has just released its second Proof-of-Reserves (PoR) report. This report allows users to verify that OKX has sufficient assets to cover customer withdrawals. According to the report released on Thursday, OKX's wallets held a total of 113,754 Bitcoin ($1.87 billion) ...

Since the liquidity of the NFT has a significant effect on its value, several projects have been launched recently to solve this problem. BendDAO is one of these projects.  Most of our readers should be familiar with the concept of a decentralized autonomous organization (DAO). However, for the sake of ...

Sifchain is a decentralized exchange (DEX) that takes the best features from existing liquidity pools and combines them for superior order execution. Although a major portion of DEXs comprises liquidity pool algorithms that are optimized for token swaps, Sifchain will change the formulas used for liquidity pool algorithms from the ...

The Securities and Exchange Commission (SEC) has announced in a press release that Dan Berkovitz, the General Counsel of the United States Securities and Exchange Commission (SEC), will be leaving the agency, effective January 31st, 2023.  Megan Barbero, Principal Deputy General Counsel, would take his place. Berkovitz stated that after ...

FTX Group has requested that an American bankruptcy judge in the District of Delaware intervene in an international dispute involving more than $440 million in Robinhood Markets shares linked to Alameda Research.  The exchange, led by new CEO John J. Ray III, believes Robinhood's 56 million shares, which SBF purchased, ...