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In an Oct. 16 update to Binance.US’s terms of service for the exchange, a clarification was made that digital assets do not qualify for FDIC insurance coverage. The update also specifies that users must convert U.S. dollars into stablecoins or other cryptocurrencies before making withdrawals. U.S. dollar funds to stablecoin As part of
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A 75-minute secretly recorded audio clip of Caroline Ellison has revealed the exact moment 15 former Alameda Research staff found out the hedge fund was “borrowing” user funds from FTX. The full-length recording, obtained by Cryptox, provides fresh insights into the palpable tension felt by Ellison and Alameda staff in the
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Adam Yedidia, Sam Bankman-Fried’s college roommate and an early employee of FTX, continued his testimony on Oct. 5, the second day of former FTX CEO Bankman-Fried’s trial in New York. Yedidia was testifying for the prosecution with immunity.Under examination by Assistant U.S. Attorney Danielle Sassoon, Yedidia told the court that
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Curve founder Michael Egorov has deposited 68 million CRV tokens ($35 million) to settle his entire debt position on DeFi lending platform Aave, according to blockchain analytics firm Lookonchain. Source
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Though Upbit quickly moved to halt deposits and withdrawals, that decision came after the fake APT token had already made its way into 400,000 Aptos wallets. Upbit, the largest cryptocurrency exchange in South Korea, has resumed withdrawals and deposits of the Aptos (APT) token. This follows an earlier decision by the
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During the deposit process of $APT coins on UpBit, there was an oversight in verifying type arguments, causing all transfers to be identified as native APT tokens. Under standard protocols, certain checks should differentiate tokens, but this wasn't the case, user MingMingBBS, co-founder of Tuna_Bot, said to Definalist. Source
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CoinEx, a cryptocurrency exchange, has announced plans to resume its deposit and withdrawal services. The crypto platform was forced to shut down
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These changing conditions would make a stablecoin vastly more appealing for PayPal, for two straightforward reasons. First, as Da Ponte implied, the extended services enabled by a stablecoin may encourage users to hold a larger amount of money in the form of PYUSD, and to hold it longer. In theory,
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These transactions come as outflow from Huobi continues. Data from Nansen.ai shows that in the last week, $92.2 million in Ethereum-based tokens have flowed off the exchange, while $101 million in total across all blockchains has moved during the same time period. Source
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It would appear that Bitcoin whales are shifting their BTC into exchanges at an alarming rate, which is a warning that they may be getting ready to liquidate their holdings. Recent on-chain data shows that Bitcoin whale exchange deposits reached $275 million in a single day as the cryptocurrency continues
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