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Solana DeFi project Friktion shuts down its user platform

Solana decentralized finance (DeFi) platform Friktion is shutting down its user interface and urging customers to withdraw their assets from the protocol, according to a statement on Jan. 26. The project's website will no longer deliver the same services, operating in withdrawal-only mode for all Volts and making deposits unavailable. Friktion's

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Gala (GALA) Games Connects with Coinbase Wallet, Axie Infinity (AXS) Experiences a Hike in User Activity, while Orbeon Protocol (ORBN) Flaunts 987% Growth

Place/Date: - January 25th, 2023 at 5:16 am UTC · 4 min read Source: Orbeon Protocol A few cryptocurrencies recently gained momentum, and gathered the interest of investors. Among them, the current trends are focused on the increasing popularity of Gala (GALA),

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Binance holds token collateral and user funds on same wallet by ‘mistake’

Major cryptocurrency exchange Binance reportedly admitted that it mistakenly stores some customer funds in the same wallet with its collateral for some in-house tokens. After the revelation, Binance started the process of transferring the assets in question to dedicated collateral wallets.Binance mistakenly put collateral for some of the Binance-minted tokens,

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NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency

The New York Department of Financial Services, or NYDFS, has released guidelines on how licensed crypto firms should handle customer assets should they face “insolvency or similar proceeding”.In a Jan. 23 announcement, NYDFS superintendent Adrienne Harris said crypto firms and exchanges operating under a BitLicense — required in New York

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FTX reboot could falter due to long-broken user trust, say observers

Several crypto industry commentators have laid skepticism on FTX CEO John Ray’s vision to potentially reboot the crypto exchange, citing trust issues and “second-class” treatment of customers as some reasons why users may not “feel safe to go back.”Former FTX CEO Sam Bankman-Fried tweeted on Jan. 20 praising John Ray

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Sao Paolo Court Ruled Against Binance in User Withdrawal Related Case – Exchanges Bitcoin News

A court in Sao Paolo, Brazil, ruled against Binance in a case in which the leading cryptocurrency exchange faced a withdrawal-related complaint. A user, who introduced a lawsuit against the exchange because he couldn’t retrieve his funds from the platform, received almost $2,000 in damages and the funds deposited as

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90% of WazirX’s User Assets are in Binance Wallets, According to Proof Of Reserves Report

CoinGabbar, a third party platform that tracks crypto assets, released WazirX's proof of reserves. At the time of writing, WazirX had $285 million of total user assets, displayed in the form of stablecoin USDT, which is pegged to the U.S. dollar. Of the total user assets, around 92% or $259.07

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