NYDIG Analyzed The FTX Collapse And Its Implications. What Did We Learn?

It’s time for NYDIG to chip in. The FTX fiasco is the theme of the month in the crypto world, and the show’s just beginning. The NYDIG research team avoids the temptation to summarize the whole saga and goes straight to the implications of the fall of Sam Bankman-Fried’s empire. “Some signs of contagion have appeared but a full accounting of the damage and regaining of investor confidence will likely take time,” they say understating the harsh reality.  Taking a page from NYDIG’s book, let’s skip the intro and go…

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UK Law Commission Seeks Evidence on DAOs — Expert Says ‘New Legal Forms Are Required’ – Featured Bitcoin News

The United Kingdom Law Commission recently asked experts and users to participate in a ten-week exercise whose objective is to help the commission better understand how decentralized autonomous organizations (DAOs) operate. A blockchain expert says the commission’s call shows that the U.K. is “leading the way in thinking and developing the law and other institutions that are needed.” Legal and Regulatory Status of DAOs Not yet Clear The United Kingdom Law Commission recently said it is seeking experts’ opinions on decentralized autonomous organizations (DAOs) and how the laws of England…

Bitcoin scarcity rises as bad exchanges take 1.2M BTC out of circulation

One of the biggest factors differentiating Bitcoin (BTC) from fiat currency and most cryptocurrencies is the hard limit of 21 million on its total circulating supply. However, the demise of numerous crypto exchanges over the last decade has permanently taken out at least 5.7% (1.2 million BTC) of the total issuable Bitcoin from circulation. The lack of clarity around a crypto exchange’s proof-of-reserves came out as the primary reason for their sudden collapses, as seen recently with FTX. Historical data around crypto crashes revealed that 14 crypto exchanges, together, were…

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Albanian Court Approves Extradition of Crypto Exchange Thodex Founder to Turkey – Exchanges Bitcoin News

A court in Albania has ordered the extradition of the fugitive founder of cryptocurrency exchange Thodex to Turkey, where he is sought for fraud and other crimes. Faruk Ozer was arrested in Albania this summer, after disappearing last year as the coin trading platform collapsed. Albanian Judiciary Prepares to Hand Over Alleged Crypto Fraudster and Thodex Founder to Turkey A court in the Albanian city of Elbasan has authorized the extradition to Turkey of the founder and chief executive of the now-defunct Turkish crypto exchange Thodex. The 27-year-old Faruk Fatih…

South Korea seizes $104M from Terra co-founder suspecting unfair profits

While crypto exchange FTX stole the limelight from other fallen ecosystems, South Korean authorities continue their efforts to bring closure to the victims of the year’s first crypto crash — Terraform Labs. Nearly six months after the Terra (LUNA) blockchain was officially halted, South Korean authorities froze approximately $104.4 million (140 billion won) from co-founder Shin Hyun-seong based on suspicion of unfair profits. The decision to freeze Shin’s asset worth over $104 million was approved by the Seoul Southern District Court, which was based on a request from the prosecutors.…

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Day 1: Binance Blockchain Week – Paris

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