Day: November 14, 2022

Crypto​.com CEO addresses whereabouts of $1B in stablecoins sent to FTX

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During a live ask-me-anything (AMA) session with users on Nov. 14, Crypto.com CEO Kris Marszalek explained that the firm sent large-sum stablecoins to troubled cryptocurrency exchange FTX to fulfill liquidity within customers’ orders at the time when FTX was still functional. As told by Marszalek:  “Over a year, $1 billion was moved to FTX, and we recovered all of this. We only had exposure of under $10 million when FTX shut down. And FTX was a trading venue where — this is one of the few trading venues with decent…

Binance Forming Crypto Industry Recovery Fund to ‘Reduce Further Cascading Negative Effects of FTX’ – Bitcoin News

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Cryptocurrency exchange Binance is forming an industry recovery fund to “reduce further cascading negative effects of FTX,” said CEO Changpeng Zhao (CZ). “As an industry, we need to increase transparency,” the executive stressed. “We need to work very closely with regulators all around the world to make this industry more robust.” Binance Establishing Crypto Industry Recovery Fund Following the collapse of cryptocurrency exchange FTX, Binance announced that it is forming a recovery fund for the crypto industry. CEO Changpeng Zhao (CZ) tweeted early Monday morning: To reduce further cascading negative…

Come Guadagnare su Coinbase nel 2022 (DeFi, Rendita Passiva, Trading, Staking Criptovalute Gratis)

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Ownership is the future of digital entertainment, says blockchain exec

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Web3 is uprooting traditional entertainment industries with a new way of creating and engaging with digital content. The industry has already seen nonfungible tokens (NFTs) display the potential to transform how television scheduled programming can be created. Increased metaverse activity began challenging artists with new possibilities for performances and connectivity with their fans. All the use cases of Web3 technology upgrading the future of digital entertainment include one key component: ownership. Ownership is one of the defining characteristics that distinguishes Web3 activity from its predecessor.  According to professionals in the…

Gate.io Targets New Crypto Exchange GateTR at Turkey’s Crypto Market

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Gate.io, a cryptocurrency trading company, is set to launch a new cryptocurrency exchange, GateTR, tailored to Turkey’s cryptocurrency market. The new platform was developed by the firm’s team over the last six months, Gate.io said. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. The Gate.io Founder and CEO, Dr Lin Han, will announce the new venture at the Istanbul Blockchain Week, the firm announced on Monday, noting that it will kick off…

BTC Rebounds Following Bullish Comments From Elon Musk – Market Updates Bitcoin News

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Bitcoin started the week trading below $17,000, as volatility in the cryptocurrency space continued to intensify. Following last week’s collapse of FTX, account withdrawals have increased, with several customers opting to remove their tokens from exchanges. However, strong comments from Twitter CEO Elon Musk have helped boost prices. Ethereum remained below $1,300 on Monday. Bitcoin Bitcoin (BTC) started the week trading below $17,000, as market volatility remained high, following last week’s collapse of FTX. Since FTX’s bankruptcy, the market has struggled to attempt to find support, with BTC trading near…

Let’s Actually Commit to Proofs of Reserve This Time, Okay?

Let’s be clear. A PoR wouldn’t have “stopped” FTX, Quadriga, or Mt Gox. All three were insolvent for long periods of time, due to either fraud or hacks. But in a world where PoR is normalized, their refusal or inability to perform a PoR would have stuck out like a sore thumb, and alerted users that something was likely awry. So PoR, at the industry scale, works via negativa – it’s most telling if you don’t do it. Source