As the FTX crisis affects the crypto market, Binance CEO Changpeng Zhao announced on Monday, November 14, that an industry fund is being created to help strong projects affected by the liquidity crisis recover. “To reduce further cascading negative...
As anxiety gripped markets amid FTX's liquidity issue, cryptocurrency exchange BitMEX was among the first to provide an updated proof-of-reserves of their crypto holdings. Crypto exchanges are suddenly rushing to make their fund reserves public. On Wednesday alone, Binance,...
Copper.co, a leading provider of institutional digital asset custody and trading solutions, announced on its official website that it has $500 million in cold storage insurance. Aon, a global professional services organization, arranged coverage through a panel of insurers...
As a direct response to the shocking failure of FTX, US senators Debbie Stabenow and John Boozman have reaffirmed their commitment to releasing the final version of the Digital Commodities Consumer Protection Act 2022 (DCCPA) in early 2022. Since...
DFX Finance, a decentralized exchange protocol for fiat-pegged stablecoins which raised a $5 million seed round led by Polychain Capital and True Ventures last year, has reportedly experienced a pool hack. An unknown attacker reportedly stole approximately $7.5 million...
Justin Sun, the founder of the Tron cryptocurrency network, merely a few hours after the devastating crash of FTX on Wednesday, offered a "way forward" for the exchange and investors in its token, $FTT. Sun's offer came after Binance...
It has been a crazy week in the crypto space. Due to liquidity concerns, the CEO of Binance, known as "CZ," announced his intent to purchase Sam Bankman-Fried's FTX on Tuesday. On Wednesday, he made a U-turn, citing probes...
Sequoia Capital, a renowned venture capital firm, stated in a letter to its limited partners that it had reduced the value of all of its investments in FTX to zero. Sequoia cited FTX's "liquidity crunch" and "solvency risk" as...
Following the Binance liquidity crunch with FTX, cryptocurrency prices dropped, with investors pulling out of riskier assets amid rising interest rates. As a result, BTC has recently recorded a new bear market low at about $16,000 and is now...
Russia is a country that has had a couple of regulations banning the use of cryptocurrencies. Strangely, it's the 3rd largest country for mining activities because of cheap electricity. One would think the government would be in support of...
