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Was the Secret Transfer of $4 Billion to Alameda, FTX's Undoing?

The liquidity crunch facing FTX might have emanated from Sam Bankman-Fried, the crypto exchange’s CEO, secretly transferring at least $4 billion to boost Alameda, with part of the funds being customer deposits, according to Reuters. Per the report: “Seeking to prop up Alameda, which held almost $15 billion in assets, Bankman-Fried transferred at least $4 … Continue reading Was the Secret Transfer of $4 Billion to Alameda, FTX's Undoing?

New York Federal Reserve Partners With MAS to Research on wCBDCs

A new collaboration between the Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) has been confirmed to be targeted toward research into wholesale Central Bank Digital Currencies (wCBDCs). This joint experiment seeks to assess the possibilities and the use cases of wCBDCs as payment for … Continue reading New York Federal Reserve Partners With MAS to Research on wCBDCs

FTX Enters Bankruptcy as Sam Bankman-Fried Steps Down as CEO

Troubled crypto exchange FTX filed for Chapter 11 bankruptcy protection in the U.S., with Sam Bankman-Fried resigning as the CEO. The bankruptcy application included approximately 130 more affiliated companies including Alameda Research, the exchange’s trading firm, and FTX US, the company’s U.S. subsidiary. According to an FTX statement posted on Twitter, John J. Ray III … Continue reading FTX Enters Bankruptcy as Sam Bankman-Fried Steps Down as CEO

FTX to Have Its European Operating License Suspended

Following its turmoil, the FTX’s European license is now said to be soon suspended by Cyprus regulators, according to a report. The finalization of the suspension would happen on Friday, said Bloomberg, citing people with knowledge of the matter. Meanwhile, on Nov 9, CySEC requested FTX Europe to “suspend its operations and to proceed immediately … Continue reading FTX to Have Its European Operating License Suspended

Binance CEO Says the Industry has been Setback a Few Years With FTX Saga

The blockchain industry has been experiencing a lot of challenges due to the fallout of one of the biggest crypto exchanges, FTX. So many notable industry experts and stakeholders have given their opinions on what they thought brought about the current crisis in FTX. Some have also highlighted what they think the industry will look … Continue reading Binance CEO Says the Industry has been Setback a Few Years With FTX Saga

Galois Capital Declares Half of its Funds is Stuck with FTX

Galois Capital, a crypto hedge fund that deals in over-the-counter trading has announced that almost half of its capital is trapped in FTX. According to a Reuters news report, Kevin Zhou a Co-founder of Galois stated that the trapped fund is estimated at $100 million even though the company had initially pulled out some funds … Continue reading Galois Capital Declares Half of its Funds is Stuck with FTX

Mercedes F1 Team Terminates FTX Partnership

Mercedes formula one (F1) team suspended its sponsorship deal with troubled crypto exchange FTX. Therefore, starting with the Brazilian Grand Prix, the team’s cars will not bear FTX logos. Mercedes stated: “As a first step, we have suspended our partnership agreement with FTX. This means the company will no longer appear on our race car … Continue reading Mercedes F1 Team Terminates FTX Partnership

FTX Affirms to 'Unauthorized Access’ to Some Assets, Working With Law Enforcement

After confirming the recent incident of unauthorized access” to its crypto holdings, citing a hack, FTX’s general counsel Ryne Miller took to his Twitter on Saturday to explain that the exchange is now working with law enforcement. Ryne Miller noted on Twitter, saying it’s from a statement from new interim CEO John Ray, “we are … Continue reading FTX Affirms to 'Unauthorized Access’ to Some Assets, Working With Law Enforcement

Wrapped Tokens Issued by FTX or Alameda Slumps, No Longer Redeemable

Following the filed Chapter 11 bankruptcy from FTX, the wrapped tokens issued by the crypto exchange or its sister trading shop Alameda Research have now undergone a price decline. According to data from Coingecko, Wrapped bitcoin on Sollet is down by over 60% in the past 24 hours, falling from its native bitcoin’s current $16,811. … Continue reading Wrapped Tokens Issued by FTX or Alameda Slumps, No Longer Redeemable

ARGOS ID presents the World’s First Travel Rule Solution for Unhosted Wallets

Seoul, South Korea, 14th November, 2022, Chainwire ARGOS ID is delighted to introduce the world’s first Travel Rule solution for crypto wallets. The service brings full coverage on verifying unhosted wallets which virtual asset service providers(VASPs) find challenging in the current stage. As of the FATF guidance on verifying the originator and beneficiary information on virtual … Continue reading ARGOS ID presents the World’s First Travel Rule Solution for Unhosted Wallets