The CEO of crypto powerhouse FTX lost $16 billion of his personal wealth as his business ran out of cash and had to rely on a rival to save it. After accepting a bailout from competitor Changpeng Zhao’s Binance, Sam…
Tether And Circle Distance Themselves From FTX, Alameda
Tether and Circle, the companies behind the two most popular stablecoins, have distanced themselves from the FTX debacle and have claimed they have no connection to either Alameda Research or the faltering cryptocurrency exchange. Tether CTO Addresses FTX Fallout Responding…
Canada’s third-largest Pension Fund Invested $200 Million In Troubled FTX
The FTX debacle may result in significant losses for Canada’s third-largest pension system. The Ontario Teachers’ Pension Plan was one of the few investors who took part in the $400 million Series C investment round that FTX held in January.…
Panic Among Investors After FTX StableCoin Reserves Plunge
Some people are warning that funds on FTX could be at risk. The concerns in the cryptocurrency community that FTX might cause another crash like Terra have been raised as a result of the rapid fall in stablecoin reserves on the…
Billionaire Tim Draper Gives Bitcoin 5 Years To Achieve Global Adoption
Tim Draper, a billionaire venture capitalist, believes that the acceptance of Bitcoin (BTC) is progressing very well on a global scale. 100 Million Bitcoin Wallets And Counting Draper described Bitcoin reaching 100 million wallets as an “amazing” accomplishment in a…
SEC Goes After Trade Coin Promoters Alleging $295 Million Scam
The founder and three U.S. promoters of Trade Coin Club were charged by the Securities and Exchange Commission with operating a Ponzi scheme that raised 82,000 bitcoins, worth $295 million in 2018, from investors throughout the world. Charges against four…
Vitalik Buterin: Musk Could Be “Great” Or “Terrible” For Twitter
More Twitter Inc. competitors may emerge as a result of efforts to improve the social media experience, according to Vitalik Buterin, co-founder of the Ethereum blockchain. A New Twitter In 5 Years? Speaking on Thursday at the Singapore FinTech Festival,…
UK Legislators Enact Laws to Restrict Crypto Ads
On Thursday, a committee of the House of Commons enacted new legislation without resistance or additional discussion that prohibits crypto advertisements and makes it illegal for unregistered operators to offer services. Restrictions Now Formally Enacted The restrictions, which are now…
China Has A $3.9 Billion Bitcoin Stash Despite Hostile Crypto Stance
The Chinese government is a crypto whale, according to Ki Young Ju, co-founder of CryptoQuant, despite its hostile stance toward the sector. Young Ju claims that China has seized $6 billion worth of cryptocurrencies from the PlusToken scam in 2019,…
Polygon Surges 10% After Instagram Integration Announcement
Instagram users will now be able to mint NFTs on the Polygon (MATIC) blockchain and sell them on social media thanks to a new end-to-end toolbox from Meta. With a gain of over 10% to $0.95 as a result of…