The collapse of the cryptocurrency exchange FTX continues to have knock-on effects throughout the crypto industry with multiple crypto-focused companies reporting significant amounts of their capital stuck on FTX.Between Nov. 11 to 14 three crypto companies announced large losses with one of them having to lay off workers to deal with the crisis.On Nov. 11, crypto hedge fund Galois Capital announced it had “significant funds” stuck on FTX, with a Nov. 12 Financial Times report that said a possible $50 million worth of Galois’ assets were stuck on the exchange.
The abrupt collapse of major crypto exchange FTX has shaken the cryptocurrency markets across the world, but it will not hamper Hong Kong’s plans of establishing itself as a crypto hub, according to the city’s Financial Secretary, Paul Chan. A recent string of bankruptcies by a number of crypto businesses makes a case for enhanced transparency and tighter regulation within the industry, Chan wrote in a recent blog post, as by The South China Morning Post.
Binance CEO Changpeng “CZ” Zhao threw an unexpected roundhouse at rival exchange FTX on Sunday, declaring his company would dump its holdings of FTT. That’s the token that FTX customers can use to obtain perks and discounts on the platform, but whose trading price also serves as a proxy for the prospects of FTX as a whole.
Andiami mixes game theory with cutting-edge hardware. Anthony Di Iorio hopes the endeavor will enable users to run full nodes with little to no technical expertise.Anthony Di Iorio, the co-founder of Ethereum, Decentral and Jaxx Liberty, unveiled a project he says he’s envisioned, designed and built over the span of a decade. The project, dubbed Andiami, blends game theory with cutting-edge hardware to bring blockchain computers to a wider audience.
A growing number of social media platforms have been integrating crypto and Web3 support, but opinions are divided on whether they are in it for the ethos or profit. Twitter was reportedly working on developing its own crypto wallet, and with Elon Musk’s recent $44-billion acquisition, many believed that the social media platform could very well integrate a crypto wallet soon.
Eric Jardine discusses how scammers were able to capitalize on the second-biggest blockchain’s transition and how $2 million in ether was stolen.There were roughly $2 million in scams before, during and after Ethereum’s Merge, the blockchain’s transition from a proof-of-work (PoW) to proof-of-stake (PoS) model, according to Chainalysis’ cybercrimes research lead, Eric Jardine.
Ethereum (ETH) co-founder Vitalik Buterin has shared on Twitter his concerns over Tesla and Twitter chief Elon Musk's blue check system but said that there might be a solution.
Hong Kong kicked off its flagship blockchain event, FinTech Week 2022, on Monday, announcing a series of policy statements on cryptocurrencies and blockchain as the city attempts to reposition itself as a hub for digital assets and investment.
Trading volumes in crypto-backed investment funds have dwindled in recent weeks, and last week hit its lowest since October 2020, a new from the crypto researcher CoinShares shows. According to the report, the volume in crypto investment products last week fell to as low as $758m, far below the $7bn a week average seen at this time last year.