Binance Starts Recovery Fund for Crypto Projects Facing Liquidity Crisis
Tron founder Justin Sun said that Tron, Huobi Global, Poloniex will support Binance in its initiative. Source
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Hedge Fund Galois Capital Discloses ‘Roughly Half’ of the Firm’s Capital ‘Stuck on FTX’ – Bitcoin News
According to the co-founder of Galois Capital, the hedge fund manager who warned about the Terra collapse before it happened, half of the hedge fund’s capital is left trapped on FTX. Galois co-founder, Kevin Zhou, wrote a letter to investors explaining the situation and said he was “deeply sorry” about
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FTX Reportedly Hacked as Telegram Group Admin Comments on Possible ‘Malware’ Present in Apps, Irregular Fund Movements Registered Onchain – Bitcoin News
Admins of the Telegram group of the FTX community stated that the platform had been hacked and all of the funds of the exchange seemed to be gone. FTX U.S. General Counsel Ryne Miller, who reportedly pinned the message in the group, explained he was investigating “abnormalities” regarding FTX balances
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Crypto Fund Galois Capital Has Half of Its Capital Trapped on FTX
According to co-founder Kevin Zhou, the locked funds total around $40 million. Source
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LBank Labs Establishes Blockchain and Crypto Investment Fund to Support the Development of Web3 in Africa – Press release Bitcoin News
press release PRESS RELEASE. Internet City, Dubai, Nov. 11th, 2022 — Blockchain Crypto Investment Group, LBank Labs, announces the establishment of their new crypto investment fund targeted towards web3 development in Africa. LBank Labs plans to establish a series of regional development funds, including regions such as Korea, South East
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FTX's 'Effective Altruism' Future Fund Team Resigns
In an open letter, the team says they are unable to perform their work or process grants and has "fundamental questions" about the legitimacy and integrity of business operations. Original Source
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Dan Loeb's Hedge Fund Third Point Among Those in Talks for $9.4B FTX Rescue
Third Point is part of a group of investors involved in bailout talks for Sam Bankman-Fried's troubled crypto exchange. Source
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Crypto Exchange Binance Raises Its SAFU Fund To $1B Amid Price Swings
Recently, the crypto market has gotten into a tight tunnel as prices keep decreasing. Most crypto assets are moving to the south
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Crypto Fund Alameda's Ethereum Wallet Holdings Slumped 50% Since October
On-chain findings show Alameda has a $3 million debt over several Ethereum addresses. Source
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Binance tops up SAFU fund at $1 billion amid price fluctuations
As the liquidity crisis and acquisition of cryptocurrency exchange FTX continues, Binance CEO Changpeng “CZ” Zhao assured his community of insurance of sufficient funds backing the network. In a tweet on Nov. 9, CZ said that the exchange has once again topped its Secure Asset Fund for Users (SAFU) at $1
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