After tracing the attacker’s blockchain transactions, Arkham found that they “appeared to be in panic” and “lost a large amount of their token holdings” when they moved assets across different chains to avoid getting caught. In a likely attempt to consolidate their holdings, they also converted tokens to ETH and DAI on the Ethereum network, movements that cannot be easily sanctioned by authorities. Source
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has investments in FTX. Following the collapse of the crypto exchange, he said it’s a turning point for the industry, emphasizing that the “crypto bottom is in.” He is now pushing for crypto regulation. “What I’m going to be doing is I’m going to fly to Washington and I want regulation. I want it now,” O’Leary stressed. Kevin O’Leary on Crypto’s Bottom, Relationship With FTX Shark Tank star Kevin O’Leary has spoken up about his investments in FTX after the firm filed…
CryptoX – Cryptocurrency Analysis and News Portal The fall of a big player in the crypto trading sector has created a domino effect: lack of liquidity, according to a new report from Kaiko Research. Source The post Sam Bankman-Fried’s Unceremonious Exit Leaves ‘Alameda Gap’ in Crypto Markets appeared first on CryptoX. CryptoX Portal
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Charities accepting crypto donations are setting themselves up for an entirely new demographic of funders — who just so happen to be one of the most giving, according to charity organizations. Alex Wilson, the co-founder of The Giving Block, a crypto donation platform providing back-end support to charities, told Cointelegraph that the crypto community is still a market many charity organizations have nointeracted with. The top charity organizations in the world by funds received including United Way Worldwide, Feeding America, and UNICEF. All three of them accept cryptocurrencies as a…
In the same quarter, TeraWulf significantly increased its hashrate, or computing power, and energy capacity that could be used for deploying mining machines. About 50 megawatts (MW) of power were brought online at its mining facility in Lake Mariner in upstate New York. The company had 11,000 miners operating at the end of the quarter, and another 9,000 are scheduled to be plugged into the 50 MW in Lake Mariner. As a result of the expansion, WULF mined 117 bitcoin in the third quarter, compared to 29 in the second…
Most other major cryptos were trading in the green, albeit barely so. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets. Source
“His childhood, early success on Wall Street, embrace of effective altruism and the creation of a crypto empire that catapulted him in record time into the ranks of the richest people in the world seemed more than sufficient for a signature Michael Lewis book,” the letter said. “The events of the past week have provided a dramatic surprise ending to the story.” Source
Gruenberg, who has served on the FDIC board for a record 17 years after working for Democrats on the Senate Banking Committee, has been a reliable proponent of tougher financial rules, though his position on cryptocurrencies hasn’t been fully fleshed out. In an October speech on crypto issues, he said stablecoins could have such a profound effect on the banking system that U.S. regulators need to make sure the digital tokens fit in without disruption. Source
As CoinDesk earlier reported, FTX was used as a platform for merchants, which would register an account and receive payment for their goods in crypto. Then those merchants could immediately turn it into fiat if they wanted, according to the technical lead of Ukrainian government’s crypto fundraise Michael Chobanyan, CEO of Kuna. Source