Platform Financial News

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The terra luna classic price has fallen by 3% in the past 24 hours, as the market continues to reel from the ongoing effects of the FTX collapse and subsequent hack. At $0.00015053, LUNC is also down by 13% in the past week and by 35% in the last 30 days, with ongoing token burns currently doing little to counteract the effects of negative investor sentiment.

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Fidelity’s crypto boss said the firm is taking advantage of FTX’s collapse as clients flee “crypto native” platforms amid havoc in the wider sector.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.Over the course of the past few years, there has been a significant rise in the popularity of green investing and “socially responsible” investing practices. 

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"FTX, along with a number of other centralised crypto trading platforms, appear to operate as conglomerates, bundling products and functions within one firm. In conventional finance these functions are either separated into different entities or managed with tight controls and ring-fences," Cunliffe told his audience.The man in charge of financial stability at the BofE stressed: "Technology in and of itself does not change the need for transparency in corporate structures, governance, audit and systems and controls - for example to protect customers’ funds."Cunliffe says that crypto should be regulated for three reasons: to protect investors, to protect financial stability, and to foster innovation.The third reason "may appear counter intuitive to those who see regulation as opposed to innovation.

The Ethereum price has dropped by 7.5% in the past 24 hours, as proceeds from last week's FTX 'hack' have begun being dumped on the market. As of writing, the address associated with this breach continues to hold over 200,000 ETH (worth more than $223 million), suggesting that the price of the second-biggest cryptocurrency may continue to experience strong downward pressure in the coming weeks.

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In the bankruptcy case involving crypto lender Celsius, the independent examiner claims that the company did not establish «adequate» accounting and operational controls in its handling of client cash. These allegations are based on the fact that the company failed to establish «adequate» accounting and operational controls. The examiner made these accusations in their report.

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