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Derar Islim, interim CEO of crypto market maker and lender Genesis, has sent a letter to clients updating them on the company’s efforts to prop up its finances and resume withdrawals and new lending. The letter, sent on Jan. 4, comes two days after a Twitter exchange between Barry Silbert,
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Chatter about the solvency of Binance increased significantly after the collapse of FTX, and the exchange did suffer some outflows for a short period, though things have stabilized since. A market share this high could become problematic for the industry if Binance were to encounter any issues, whether regulatory or
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At the time of publication, the United States House of Representatives was at a historic standstill in its process of choosing a Speaker for the 118th Congress — a quagmire that could lead to lawmakers delaying committee hearings.As of Jan. 4, California Representative Kevin McCarthy lost the fifth round of
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With the prolonged bear market in crypto ongoing, one will think most people should be losing money. While that is true, another thing also true is the increase in crimes in the bear market. On today’s news, the ex-chief financial officer has pleaded guilty in court for embezzling more than
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Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s anti-money laundering controls were
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Singapore-based decentralized finance (DeFi) services firm Cake DeFi has announced the release of its proof of reserves using the cryptographically audited Merkle tree method. Developed by Ralph Merkle in 1979, the Merkle tree method is a way of proving that a certain piece of data is included in a set of
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The former FTX CEO faces a legal uphill battle after pleading not guilty to eight counts of criminal charges. Original Source
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The unresolved issue is allowing unverified NFTs to be added to high-priced collections like Y00ts and ABC. Source
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Digital assets funds saw inflows totaling $433 million during 2022, the lowest level since 2018, when inflows in the crypto industry reached $233 million, according to the cryptocurrency investment firm Coinshares. Investors' appetite for digital assets seems not to have been fully affected by the crypto winter, but otherwise encouraged investments
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On-chain data shows the Bitcoin inflows to Coinbase have spiked recently, a sign that may turn out to be bearish for the crypto. Bitcoin Exchange Inflows To Coinbase Register High Values As pointed out by an analyst in a CryptoQuant post, a total of 20k BTC was transferred to Coinbase recently. The
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