Developments in the FTX Saga
- The former CEO of FTX, a now-defunct crypto exchange, conducted an interview with the New York Times, which prosecutors claim amounts to witness tampering.
- The former CEO has been put under a gag order, preventing him from discussing the case publicly.
Bitcoin
- Democratic presidential candidate Robert F. Kennedy Jr. recently purchased a significant amount of Bitcoin.
- The announcement of a 25 basis point rise in interest rates led to a higher move in cryptocurrencies.
- A team of Bitcoin developers and enthusiasts introduced the “Frostsnap” method to provide multisig wallets with new capabilities.
DeFi
- The Bank of Italy’s Milano Hub innovation center will support a project to develop a security token ecosystem for institutional DeFi.
- DeFi protocol Parrot Finance will phase out its PRT token, with redemptions set to begin soon.
Altcoins
- The altcoin X token surged over 1000% following Elon Musk’s announcement about Twitter’s rebranding.
Technology
- Bridge Protocol LayerZero achieved a significant milestone of crossing 50 million cross-chain messages.
- Archax unveiled a crypto exchange specifically designed for institutional investors.
- Avalanche Foundation allocated $50M to acquire assets tokenized on its blockchain.
- The controversial Arkham Intel Exchange approved its first bounty hunt targeting crypto wallets of Terra co-founder Do Kwon.
Business
- Sequoia Capital reduced its cryptocurrency fund by over 65%.
- Bankrupt crypto lender Celsius Network reached settlements to end its bankruptcy proceedings and return customer assets.
- Flashbots raised $60 million from venture capitalists and players in the blockchain ecosystem.
- Cryptocurrency exchange KuCoin clarified rumors about mass layoffs within the company, stating they are part of routine organizational development.
- Deloitte and Chainalysis formed a strategic alliance to tackle compliance challenges in the digital asset ecosystem.
- BlackRock and India’s Jio Financial Services will launch a “digital-first offering” in India through a joint venture.
- Crypto derivatives platform Bitget listed its native token BGB on cryptocurrency exchange MEXC.
Regulation
- The South Korean Financial Services Commission’s decision to seize Delio’s assets raised doubts over its future operations.
- The SEC claimed the recent Ripple ruling was incorrect and is appealing the decision.
- The United States Federal Reserve launched its new instant payment system, FedNow.
- FTX founder Sam Bankman-Fried agreed to a gag order preventing him from discussing his case publicly.
- Binance plans to appeal a lawsuit from the CFTC.
- Worldcoin may face scrutiny from UK data protection regulators.
- The Republic of Namibia introduced a law regulating the digital asset industry, ending its ban on cryptocurrencies.
- Block.one is facing criticism from the EOS Network Foundation for allegedly defaulting on its investment commitment.
- Quantstamp is under scrutiny from the SEC for conducting an unregistered ICO in 2017.
- The United States House Financial Services Committee passed two bills for regulatory clarity.
- The SEC is intensifying oversight of financial institutions using AI and predictive algorithms.
- Democrat Congressman Brad Sherman stated that only the US government has the right to print money.
- The United States Senate passed a military spending bill with anti-money laundering provisions for cryptocurrency.
- Grayscale Investments appealed for equal treatment of all spot Bitcoin ETFs in a letter to the SEC.
- Crypto.com obtained registration with the central bank of the Netherlands.
- The Supreme Court of India expressed displeasure over the lack of clear laws or regulations regarding cryptocurrencies.
NFT
- NFT art gallery Bright Moments held a live minting event at the Gotham store.
- CyberKongz partnered with Axie Infinity’s creator to migrate its NFT game and mint a new NFT collection on the Ronin chain.
Web3
- CEO Mark Zuckerberg remains hopeful about Facebook’s metaverse prospects despite operating losses.
- Japan is embracing Web3 technology with the support of major companies like Fujitsu and Mitsubishi.
- Binance is set to start operations for Japanese customers.
Security
- CoinsPaid believes North Korean Lazarus Group was behind a hack that stole $37 million.
Hot Take
The crypto industry continues to experience significant developments and regulatory challenges. The FTX saga highlights the legal issues surrounding crypto exchanges, while Bitcoin remains a popular investment choice. DeFi projects are evolving, and altcoins experience volatile price movements. Technological advancements are being made, with blockchain companies achieving milestones. Business news includes funding rounds, partnerships, and regulatory actions. NFTs continue to gain attention, and Web3 technology is expanding. Security remains a concern, with hacking incidents reported. Overall, the crypto industry is dynamic and constantly evolving.
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