Business Financial News

09.12 / 23:11

business Investments FTX FalconX says exposure to FTX represented 18% of its 'unencumbered cash equivalents'

Cryptocurrency trading company FalconX has disclosed that it suffered losses in the collapse of FTX.

09.12 / 23:11

business Investments hedge fund CEO of crypto news site The Block resigns for failing to disclose $27M loans from Alameda Research

Bobby Moran of crypto news website the Block has announced he will be assuming the position of chief executive officer following the resignation of Mike McCaffrey, who reportedly financed the platform through loans from Sam Bankman-Fried’s Alameda Research.

09.12 / 22:35

business FTX Crypto.com reserves Crypto.com releases proof of reserves, showing above 100% for BTC, ETH

Tether (USDT), XRP, Dogecoin (DOGE), Shiba Inu (SHIB), Chainlink (LINK), and Decentraland (MANA) are also included in the report, with each of them having reserves of above 100%.

09.12 / 21:53

business goldman sachs Blockstream Ledger Crypto Biz: Is Goldman Sachs the ultimate crypto contrarian?

One of the oldest pieces of contrarian investment wisdom is to buy when there is blood in the streets. If it were that easy, crypto investors would be euphoric at all the buy opportunities right now. If you’re rattled by the bear market, which has been especially brutal even by crypto standards, don’t beat yourself up over it. Cryptocurrency is still an unproven asset class that operates in the shadow of regulators. I don’t blame you for not buying an asset class that’s down over 70% this year.

09.12 / 18:57

business Binance FTX Deal CZ and SBF duke it out on Twitter over failed FTX/Binance deal

Binance CEO Changpeng Zhao, or CZ, and former FTX CEO Sam Bankman-Fried, or SBF, have revealed new details about the failed agreement between the exchanges during FTX’s liquidity crisis in November.

09.12 / 18:39

business Investments Bitcoin expansion Amber Group ditches expansion plans after denying insolvency: Report

Cryptocurrency trading firm Amber Group is putting its expansion plans on hold despite the FTX contagion having “no disruption” to its daily operations, according to a senior executive.

09.12 / 16:55

business Congress Senate investigation hearing SBF 'willing' to testify at Senate hearing on the FTX collapse

Former FTX CEO Sam Bankman-Fried has indicated that he’s willing to testify at a United States Senate hearing into the collapse of cryptocurrency exchange FTX.

09.12 / 16:17

business Blockchain Art Fashion NFTs could help solve diamond certification fraud

Diamonds may be a girl’s best friend, but unfortunately, the billion-dollar diamond industry is rife with scandal and fraud. There have been a number of cases where lab-grown diamonds have been graded as natural diamonds. An example of this was seen last year when the International Gemological Institute analyzed and graded a 6.18ct lab-grown diamond, which was previously claimed to be a natural diamond on its Gemological Institute of America (GIA) report.

09.12 / 13:11

business Government FTX reportedly gets 3 more months to stop all operations in Japan

The Japanese subsidiary of the now-defunct cryptocurrency exchange FTX has received approval from local regulators to continue sorting out issues with withdrawals until next year.

09.12 / 10:05

business FTX Bankruptcy Lost Kevin O'Leary lost the $15M he was paid to be FTX's spokesperson

Shark Tank star and investor Kevin O’Leary, known in some circles as Mr. Wonderful, has claimed he has all but lost the $15 million FTX paid him to be its official spokesperson.

09.12 / 08:59

business Court class action lawsuits 7 class action lawsuits have been filed against SBF so far, records show

The number of lawsuits against former FTX CEO Sam Bankman-Fried has been racking up since the fall of his crypto empire, with the former “white knight” of crypto finding himself a defendant in seven class action lawsuits filed since FTX’s bankruptcy.

09.12 / 06:55

business regulation Congress Senate Fried Sam Sam Bankman-Fried misses deadline to respond to testimony request, now what?

Crypto’s public enemy number one, Sam Bankman-Fried has missed a crucial deadline to confirm his appearance at an upcoming Senate Committee hearing.

09.12 / 06:07

business Investments cryptocurrency investment Drop Q3 GameStop to drop crypto efforts as Q3 losses near $95M

Gaming retailer GameStop says it will no longer focus any efforts on cryptocurrencies, after amounting $94.7 million in net losses in the third quarter and laying off staff from its digital assets department.

08.12 / 22:45

business Investments transactions BlockFi employees were discouraged from describing risks in internal communications: Report

Following BlockFi’s Chapter 11 bankruptcy filing at the United States Bankruptcy Court for the District of New Jersey, reports have surfaced about the crypto lending company’s risk assessment and management culture.

08.12 / 20:27

business Blockchain Ethereum Bitcoin Major Grayscale digital currency funds are trading at 34% to 69% discount to NAV

According to statistics sourced from data aggregator YCharts, seven digital currency funds issued by asset manager Grayscale Investments are currently at a discount of 34% to 69% to their net asset value, or NAV. Holdings tracked in the analysis include the Grayscale Bitcoin Trust; Ethereum Trust, Ethereum Classic Trust, Litecoin Trust, ZCash Trust, Horizen Trust, Stellar Lumens Trust, and Livepeer Trust.

08.12 / 19:53

business Blockchain Technology Banks Fintech Company ZELF launches anonymous Visa debit card with crypto recharge

American fintech company ZELF has introduced an anonymous Visa debit card to be accepted at any of Visa’s 80 million locations worldwide.

08.12 / 18:41

business Adoption Cybersecurity security How do crypto hardware wallet firms make money?

The hardware wallet industry has emerged as one of the most resilient sectors to the ongoing cryptocurrency winter, with issues like the FTX crash bringing in even more cold wallet sales.

08.12 / 18:03

business Koinly Many Koinly staff point to poor communication, CEO in global layoffs

Crypto tax firm Koinly announced cuts of up to 14% of its global team in response to the “intensifying bear market” — but many employees have pushed back against this narrative.

08.12 / 15:21

business Adoption Banks Japan’s Sumitomo Mitsui to issue soulbound tokens to explore Web3

The Japanese financial group Sumitomo Mitsui Financial Group (SMBC) is moving to explore the benefits of Web3 by issuing soulbond tokens (SBTs).

08.12 / 10:03

business Government Stablecoin us government Terra Classic Fried FTX's Bankman-Fried to face market manipulation probe, Do Kwon chimes in

United States federal prosecutors have reportedly begun investigating whether the collapse of the Terra ecosystem was in fact triggered by market manipulation tactics by former FTX CEO Sam Bankman-Fried.

08.12 / 09:35

business Blockchain Adoption Australian Australian CBDC receives unexpected interest but could hurt banks: RBA

A Central Bank Digital Currency (CBDC) pilot program in Australia has received more than 140 use case proposals from the finance industry, but the Reserve Bank of Australia (RBA) warns that it could displace the Australian dollar and result in people avoiding commercial banks entirely.

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