Blockchain Financial News

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com

According to FTX attorney Andy Dietderich, the troubled cryptocurrency exchange has "recovered $5 billion in cash and liquid cryptocurrencies." However, the exchange is still "working to rebuild transaction history," and the total amount of customer shortfall is "still unclear." Speaking to a U.S. bankruptcy judge in Delaware on Wednesday, Dietderich also stated that the company plans to sell $4.6 billion worth of non-strategic investment.

Abu Dhabi-based blockchain platform Venom Foundation and investment manager Iceberg Capital announced they will allocate $1 billion of funding to Web3 and blockchain firms through a new partnership.

The music industry is notoriously centralized, with major record labels often controlling nearly every facet of an artist’s career — from which songs they are allowed to release to what percentage of the royalties they keep and more.

After the paranoia and turmoil in the crypto industry caused by the FTX liquidity and bankruptcy scandal, major digital-asset service providers in the space began publicizing their reserve funds. 

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Wahi was arrested as he was boarding a one-way flight to India and was found to be carrying “three large suitcases, seven electronic devices, two passports, multiple other forms of identification, hundreds of dollars in US currency, financial documents, and other personal effects.His brother, Ishan Wahi worked as a product manager assigned to a Coinbase asset listing team and, between August 2021 and May 2022, was a member of a private messaging channel reserved for a small number of employees with direct involvement in the asset listing process.The private channel was used to discuss, among other things, “exact announcement / launch dates + timelines” that Coinbase did not wish to share with all of its employees.According to prosecutors, on at least 14 occasions Wahi passed on this confidential information to either his brother or friend, Sameer Ramani. The three would then use anonymous Ethereum blockchain wallets to acquire crypto shortly before Coinbase publicly announced that it was listing or considering listing these assets on its exchanges.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Fight for the Future, a digital rights advocacy group, has posted an open letter on its website encouraging the new class of United States congresspeople to protect privacy. The letter has attracted dozens of companies and organizations as cosigners.

Albright Capital has dropped its lawsuit against Terraform Labs and its founder Do Kwon, according to a Notice of Voluntary Dismissal filed in U.S. District Court on January 9. Before its dismissal, the lawsuit had alleged that the company had violated the Racketeer Influenced and Corrupt Organizations Act (“RICO”) by operating the stablecoin, UST, as a “Ponzi scheme.”

The Flare (FLR) token airdrop started on Mon., Jan. 9, nearly two years after a snapshot of Ripple (XRP) holders took place on Dec. 12, 2020. The FLR airdrop was distributed at a ratio of 1.0073 FLR per 1 XRP and the initial distribution saw 15% of the total supply released to the community.

According to user reports on Jan 10, cryptocurrency exchange Crypto.com plans to delist Tether (USDT) for Canadian users effective Jan 31, 2023. According to the firm, if users do not withdraw or convert their USDT assets by the deadline, then their Tether will be automatically converted into USD Coin (USDC). 

The brother of a former Coinbase product manager, Nikhil Wahi, has been sentenced to 10 months in prison for wire fraud conspiracy charges, in what is believed to be the first insider trading case involving cryptocurrency. 

Decentralized yield protocol Yearn.finance said in a Jan. 9 tweet that all users can now create sophisticated Permissionless Vault Factories on its platform. The current version of Vault Factory works with stablecoin-swapping platform Curve Finance and its liquidity provider (LP) tokens and features three premade yield strategies.

The Easy Company, a startup focusing on building a consumer layer for the decentralized web, has raised $14.2 million in a seed round for its “social” crypto wallet, which seeks to help onboard more mainstream audiences into the Web3 ecosystem. 

According to a Jan. 9 Medium post, e-Money — a stablecoin project in the Cosmos ecosystem — will discontinue the issuance of its EURR euro stablecoin effective March 6. In explaining the decision, e-Money wrote: 

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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Crypto exchange Binance has been a major talking point since the downfall of FTX, both inside and outside of the crypto industry. The company and its founder, Changpeng "CZ" Zhao, have been under a microscope in an attempt to keep the behemoth in line.

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