Day: November 9, 2022

Binance Backs out of FTX Deal Citing ‘Due Diligence,’ Reports of ‘Mishandled Customer Funds’ – Bitcoin News

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The world’s largest cryptocurrency exchange Binance will not go through with purchasing the rival crypto exchange FTX. The company noted that after due diligence and “news reports regarding mishandled customer funds,” Binance has decided not to pursue the FTX acquisition. Binance Drops the FTX Acquisition After the crypto exchange Binance revealed it would purchase FTX, the exchange has detailed it has backed out of the proposed deal. “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations,…

Orthogonal Credit alleged key weaknesses in Alameda’s due diligence early in 2022

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Orthogonal Credit, an arm of the digital asset hedge fund Orthogonal Trading, disclosed on Nov. 9 that it pushed to close Alameda Research’s dedicated borrower pool on Maple Finance in the second quarter of 2022 after identifying “key weaknesses” in its due diligence.  The company announced on Twitter that it had identified a number of key weaknesses while conducting due diligence earlier this year — specifically, declining asset quality and unclear capital policy, among other factors. The assessment led the firm to push Maple Finance to halt Alameda loans in…

Orthogonal Credit alleged key weaknesses in Alameda’s due diligence early in 2022

Orthogonal Credit, an arm of the digital asset hedge fund Orthogonal Trading, disclosed on Nov. 9 it pushed to close Alameda Research’s dedicated borrower pool on Maple Finance in the second quarter of this year, after identifying “key weaknesses” in a due diligence.  On Twitter, the company announced it had identified a number of key weaknesses during a due diligence earlier this year — specifically, declining asset quality and unclear capital policy, among other reasons. The assessment led the firm to push Maple Finance to halt Alameda loans in May,…

Binance Pulls Out OF FTX Deal, Bitcoin Crashes Below $16,000

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Crypto exchange Binance is officially out of the FTX agreement. According to an official statement, the company won’t purchase its competitor. Via its official Twitter handle, Binance claims that regulatory pressure and other factors impacted their decision. The report claimed that the company reviewed FTX’s books and decided to walk out of their non-binding agreement. The company said: As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the…

FTX’s Binance rescue deal falls apart in less than 48 hours

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On Nov. 9, less than 48 hours after Binance CEO Changpeng “CZ” Zhao announced his intention to bail out troubled competitor FTX, Binance stated that it would not be pursuing the deal. A series of tweets by Binance confirmed that it would “not pursue the potential acquisition” of crypto exchange FTX citing “reports regarding mishandled customer funds and alleged US agency investigations.” The agency investigations may be in reference to a Nov. 9 Bloomberg report which suggests that the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission…

How to set up a CPU mining rig in 2022 (& his strategy that made him $200/day) with Rabid Mining

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io In this video @Rabid Mining talks us through the whole process of setting up a CPU mining rig in 2022. This includes his process of overclocking for CPU mining, setting up mining in Windows or HiveOS and which coins to CPU mine. He also goes through his CPU mining strategy that has made him over $200 per day per mining rig. 🌟 𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐖𝐚𝐭𝐭𝐮𝐦 𝐟𝐨𝐫 𝐩𝐫𝐨𝐩𝐞𝐫 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐦𝐢𝐧𝐢𝐧𝐠 🌟 Check out Octominer: – 🌟 CPU MINING RIG PARTS AS RECOMMENDED BY…

StarkWare Launches Nonprofit Foundation to Fuel StarkNet Ecosystem

The foundation’s board includes StarkWare co-founders Uri Kolodny (CEO) and Eli Ben-Sasson (president), and Shubhangi Saraf, a mathematician and computer scientist who serves as a StarkWare adviser. Other board members include lawyer and OSS Capital partner Heather Meeker, Ethereum core developer and startup founder Tomasz Stańczak, former U.S. Deputy Chief Technology Officer Andrew McLaughlin, and Eric Wall, a prominent crypto personality and investor. Source

Alameda Research and FTX Ventures websites go dark

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Websites linked to the crypto exchange FTX have been taken down on Nov. 9, following a liquidity crisis and a pending acquisition of the company by its rival Binance. Websites for Alameda Research and the company’s venture capital arm FTX ventures were offline and made private, while both FTX’s main site and FTX US’s website remain accessible. Cointelegraph reached out to Alameda on Nov. 9, but has not heard back as of publication time. The latest developments include unconfirmed reports about most of FTX’s legal and compliance staff quitting on Tuesday…