Chainlink Labs offers Proof of Reserve service for embattled exchanges
The company claimed its PoR product can restore trust in crypto exchanges through greater transparency, but not everyone is convinced. Go to Source Powered by WPeMatico
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FTX crisis feeds the Twitter rumor mill with hot takes and conspiracy theories
Exciting times lead to exciting posts, many of which bring up valid questions, and maybe some less valuable answers. Go to Source Powered by WPeMatico
White House says ‘prudent regulation of cryptocurrencies’ is needed, hinting at situation with FTX
According to Press Secretary Karine Jean-Pierre, the administration and financial agencies will “closely monitor” developments in the crypto market. Go to Source Powered by WPeMatico
Financial group CEO claims he tried to warn Bankman-Fried about insolvency in July
Richard Handler alleged that he offered restructuring services to FTX that might have saved it, but exchange reps refused to meet with him. Go to Source Powered by WPeMatico
FTX US announces it may halt trading on its platform in a few days
According to the FTX US, “Withdrawals are and will remain open.” Go to Source Powered by WPeMatico
Major VC Firm Sequoia Capital Marks FTX Investment to $0 — Says ‘Liquidity Crunch Has Created Solvency Risk for FTX’
Venture capital giant Sequoia Capital is marking its investment in the embattled crypto exchange FTX down to $0. “In recent days, a liquidity crunch has created solvency risk for FTX,” the firm stressed, adding that “The full nature and extent of this risk is not known at this time.” Sequoia Capital Deems Its Investment in … Read more
FTX US resigns from the Crypto Council for Innovation
“The news this week has been shocking, but we’ve also seen the community come together,” said CCI CEO Sheila Warren. Go to Source Powered by WPeMatico
LayerZero Labs bought back its stake from FTX Ventures and Alameda
The protocol announced an agreement that bought out 100% of FTX Ventures and Alameda Research’s equity position. Go to Source Powered by WPeMatico
Binance Shares Hot and Cold Wallet Crypto Addresses and Details About the SAFU Fund
After disclosing the trading platform Binance would share proof-of-reserves, the exchange published a blog post called “Our Commitment To Transparency.” The Binance blog post shares addresses tied to the world’s largest exchange and it notes that as of Thursday, Binance holds 475,000 bitcoin, 4.8 million ether, and 17.6 billion tethers. Binance Shares Crypto Addresses and … Read more
Republican lawmaker claims SEC chair was coordinating with FTX ‘to obtain regulatory monopoly’
Minnesota Representative Tom Emmer did not provide any evidence to his claim Gary Gensler was “helping SBF and FTX work on legal loopholes,” but said he was looking into the matter. Go to Source Powered by WPeMatico