Business Financial News

11.11 / 01:31

business Blockchain Binance defi Reserve Chainlink Labs offers Proof of Reserve service for embattled exchanges

Chainlink Labs offered its Proof of Reserve product as a solution to future trust issues in the crypto exchange market on Nov. 10. In a tweet thread, Chainlink Labs asked “Will crypto continue to repeat the mistakes of the traditional black-box financial industry? Or will a better system emerge?”

11.11 / 00:47

business Adoption regulation Investments FTX turmoil increases scrutiny of industry, something institutional investors have been waiting for

The recent liquidity crisis at FTX will increase regulatory scrutiny in the crypto industry, which is what institutional investors are seeking, a number of sources told Cointelegraph on Nov. 10.

11.11 / 00:47

business Blockchain Trading FTX FTX US announces it may halt trading on its platform in a few days

In a long apology issued by the CEO of FTX, Sam Bankman-Fried, also popularly known as SBF, he assured the crypto community that the recent turn of events was only going to affect FTX international. According to him “FTX US, the US based exchange that accepts Americans, was not financially impacted by this shitshow.” He assured users that FTX US was “100% liquid” and that “Every user could fully withdraw (modulo gas fees etc)”.

11.11 / 00:33

business Blockchain FTX Fried Financial Financial group CEO claims he tried to warn Bankman-Fried about insolvency in July

Richard Handler, the CEO of Jefferies Financial Group, seemingly alleged on Nov. 10 that he knew about FTX’s liquidity problems back in July. In a Twitter thread, Jeffries revealed screenshots of emails that he claimed were sent to associates of Sam Bankman-Fried.

11.11 / 00:03

business Blockchain FTX stake LayerZero Labs bought back its stake from FTX Ventures and Alameda

Interoperability protocol LayerZero Labs announced on Nov.10 an agreement that bought out 100% of FTX Ventures and Alameda Research equity position, including token warrants and all agreements between the parties.

10.11 / 23:55

business Stablecoin Tether reserves 82% of Tether reserves held in ‘extremely liquid’ assets, according to attestation

Stablecoin issuer Tether Holdings Limited published its latest quarterly attestation on Nov. 10, highlighting the “extremely liquid” nature of its assets at a time when crypto markets were reeling from news of FTX’s apparent insolvency.

10.11 / 22:05

business Blockchain Binance ‘Thank God’ El Salvador doesn’t have any Bitcoin on FTX, CZ clarifies

False information spreading online suggested that the president of El Salvador, Nayib Bukele, was seeking the immediate extradition of FTX CEO Sam Bankman-Fried along with Alameda Research co-CEO Sam Trabucco to answer for their crimes of losing the Salvadoran people’s Bitcoin.

10.11 / 19:27

business Blockchain FTX Withdrawals BREAKING: FTX appears to have resumed withdrawals Blockchain data shows

According to data from Etherscan on Nov. 10, troubled cryptocurrency exchange FTX appears to have resumed withdrawals. The exchange's hot wallet address, which has remained inactive after FTX announced on Nov. 8 it would be halting all user withdrawals, has resumed activities as of 3:50 pm UTC. Blockchain data shows that multiple types of tokens and large sums of transactions have since left the hot wallet, which has a balance of $469 million at the time of publication.

10.11 / 18:23

business Blockchain Tether Report: Tether freezes $46M of FTX's USDT on Tron blockchain, setting new precedent

According to blockchain transaction data provided by WhaleAlert.io on Nov. 10, Tether appears to have frozen 46,360,701 USDT ($46,274,472) owned by troubled cryptocurrency exchange FTX in its Tron blockchain wallet. The move comes one day after the U.S. Securities and Exchange Commission and the U.S. Justice Department began investigating FTX over its liquidity crisis.

10.11 / 18:01

business FTX Fried Sam Sam Bankman-Fried apologizes over FTX liquidity crisis: 'I fucked up twice'

In one of his first public statements since rumors and concerns about FTX’s insolvency flooded the crypto market, CEO Sam Bankman-Fried, or SBF, has said: “I’m sorry.”

10.11 / 17:29

business Binance Investments Bitcoin Reserve Binance shares wallet addresses and activity after proof of reserve pledge

In light of the FTX liquidity crisis and the almost-acquisition by Binance, Binance CEO Changpeng “CZ” Zhao assured his community that his network would provide full transparency on asset holdings.

10.11 / 16:43

business Binance Social Media Media Claims and rumors fuel crypto market turmoil amid FTX collapse

While information leaks and unconfirmed reports can be a way for the truth to reach the public, they can also be a tool that fans the flames to grow even further in an already burnt-out crypto market.

10.11 / 13:59

business Twitter security Bitcoin Ledger hardware wallets hit by the FTX earthquake, CTO says

Hardware-based cryptocurrency wallet provider Ledger has experienced some issues due to massive outflows from crypto exchanges amid the FTX bloodbath, according to its chief technology officer.

10.11 / 13:17

business Binance regulation coinbase Unclear regulations drove 95% of trading activity offshore: Coinbase CEO

Coinbase CEO Brian Armstrong was not delighted with the news about the United States regulators looking into FTX.US along with Coinbase and Binance.US in the wake of the FTX crisis.

10.11 / 10:47

business cryptocurrency Binance The collapse of FTX — Is this crypto’s Lehman moment?

Kevin Roose (The Shift)

10.11 / 10:41

markets business Blockchain Technology Royalties OpenSea to enforce creator royalties on all collections after community outcry

NFT marketplace OpenSea has announced it will continue to enforce royalties across all collections going forward, following outcry from creators earlier this week for considering otherwise.

10.11 / 10:41

business Blockchain Investments Funding stake Sequoia Capital marks down entire $214M FTX stake to zero

Venture capital firm Sequoia Capital tweeted out a letter sent to its partners on Nov. 10 revealing the firm had marked its $213.5 million investments in FTX and FTX US down to $0, claiming them as a complete loss.

10.11 / 08:37

business Twitter Tesla elon ‘Twitter will do lots of dumb things’ in the coming months: Elon Musk

Twitter’s new owner Elon Musk has asked his followers to prepare for “lots of dumb things in [the] coming months” on his newly acquired social media platform.

10.11 / 07:43

markets business Blockchain Investments SBF tells investors FTX needs $8B in emergency funding: WSJ

Sam Bankman-Fried has reportedly asked investors for $8 billion in emergency funding to cover a shortfall caused by the flood of withdrawal requests to his crypto exchange in recent days.

10.11 / 07:43

business Binance FTX saga FTX and Binance’s ongoing saga: Everything that’s happened until now

All dates are Coordinated Universal Time (UTC).

10.11 / 07:43

business Blockchain Binance Internet FTX website comes back online with message advising against deposits

Financially-troubled crypto exchange FTX has brought its website back online following a period of intermittent downtime — with the trading platform now sporting a banner confirming withdrawals are halted and advising users against depositing.

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