Scammers have created a fake FTX token, dubbed FTX 2.0, to impersonate the now-bankrupt crypto exchange less than 24 hours after the company’s new CEO announced that the platform could be revived. According to blockchain security firm PeckShield, the bad actors sent the tokens to the FTX exchange, pretending to add liquidity before airdropping them […]
IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance
An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing […]
Bitcoin Surges Past $22k Triggering Another $250 Million in Liquidations
Bitcoin is continuing its weekly rally with a push beyond $22,000, bringing the crypto market back to a market cap of over $1 trillion. The pump has triggered another avalanche of liquidations across digital asset exchanges. Bitcoin traded for roughly $21,380 at 19:45 UST on Friday, before pumping by $1000 to $22,370 by 21:00. The […]
Bitcoin Surges to Five-Month Peak Above $22,500 as Market Rebounds
This week’s Bitcoin pump reaches new recent heights, plus Ethereum, Solana, Dogecoin, and others are also soaring.
The Bank for International Settlements Introduces the DeFi Stack Reference
A BIS working paper examined decentralised finance (DeFi). The article detailed DeFi protocol architecture, primitives, and functions. It advised risk assessment during integration with conventional finance. (Read More)
Breaking: FTX: US Feds seize nearly $700 million of SBF’s assets
The United States Federal prosecutors have confiscated $697 million in assets belonging to Sam Bankman-Fried – the founder of the bankrupt crypto exchange, FTX. According to a report by CNBC, FTX Digital Markets had three accounts on Silvergate Bank, which held more than $6 million. The assets from this platform were seized around January 11, […]
Moonstone Bank to Exit Crypto Space
FTX’s collapse may have damaged Farmington State Bank. Jean Chalopin, the Bahamas-based chairman of Deltec, another FTX banking partner, bought Moonstone Bank in 2020. (Read More)
Nexo Capital to Pay $45 Million in Penalties
Nexo Capital, a crypto lender, will pay $45 million to the SEC and NASAA (NASAA). SEC and NASAA announced the announcement on Jan 19. (Read More)
China’s Central Bank Digital Currency (CBDC)
China’s Central Bank Digital Currency (CBDC) now supports smart contracts. Soochow Securities’ mobile app allows e-CNY purchases. Android phones may now perform contactless digital yuan wallet payments. (Read More)
Genesis Files for Chapter 11 Bankruptcy
Genesis has estimated assets and liabilities of $1 billion to $10 billion. The company is considering a “dual track procedure” to sell, raise funds, or equitize. After FTX and other crypto-exchanges collapsed, the business halted withdrawals in November 2022. Genesis’ parent firm DCG may sell part of its $500 million venture capital portfolio to cover […]