“We had filed with your honor a motion to transfer that case from the Southern District of New York to the district of Delaware, and we are pleased to report that we have reached an agreement with the joint provisional liquidators to do just that to bring the case from New York and here to Delaware,” James Bromley, a partner in Sullivan & Cromwell’s Finance & Restructuring Group said during the first FTX bankruptcy hearing on Tuesday. Source
Day: November 22, 2022
Saudi Arabia’s NFT Collection Soars After Unexpected Soccer Win Against Argentina
Argentina’s fan token (ARG), in contrast, dropped 21% over the past 24 hours and is trading at $5.44 as of press time, according to data from CoinMarketCap. The South American team, led by Lionel Messi, was the clear favorite going into Monday’s match. Source
Crypto Custodian Aegis Trust Offers $25M Insurance Policy for NFTs
“We are focusing on the security of the infrastructure. And that’s really fundamental for institutions, which are still the majority of the value that has come into the crypto market,” Wei told CoinDesk. “Being able to put that layer on top of what we already offer to clients I think is critical.” Source
Foresight Ventures Launches $10M Web3 Startup Fund, in Spite of Market Turmoil
Established in 2020, Foresight Ventures has invested in Web3, non-fungible token, gaming and decentralized finance (DeFi) projects. Last year, AUM increased to $400 million from $80 million following FV’s acquisitions of BitKeep, a multi-chain digital wallet in Asia, and Singapore-based exchange and trading platform, BitGet. Source
Could a Grayscale Bitcoin Trust collapse be the next black swan event? Watch The Market Report
On this week’s The Market Report show, Cointelegraph’s resident experts discuss what the ramifications would be if Grayscale Bitcoin Trust were to collapse. We start off this week’s show with the latest news in the markets: GBTC next BTC price black swan? — 5 things to know in Bitcoin this week Bitcoin (BTC), the largest cryptocurrency, just like the rest of the crypto industry, remains highly susceptible to downside risk as it continues to deal with the fallout from the implosion of exchange FTX. Contagion is the word on everyone’s…
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10 Best Crypto Exchanges For 2022
Cryptocurrencies are the current global market trend. This trend is rapidly transforming the business sector into something special and one-of-a-kind. This digital technology was introduced many years ago, but it got off to a slower start than the current trajectory. The primary reason for this technological marvel’s elevation is the world’s sudden adaptation to the digital phase as a result of the recent pandemic. Succinctly, cryptocurrencies are digital currencies that can be purchased and sold over the internet. A system known as the “Blockchain” underpins this technology. A blockchain network…
LTC up 12%, Hitting a 3-Week High – Market Updates Bitcoin News
Litecoin rallied to a three-week high on Nov. 22, despite the global cryptocurrency market cap mostly residing in the red. As of writing, the crypto market is down 1.11%, however, litecoin is up by over 12%. Another notable gainer has been chainlink, which rose for a second straight session. Litecoin (LTC) Litecoin (LTC) was a big mover on Tuesday, as the token rose by as much as 12% earlier in the session. Following a low of $60.04 to start the week, LTC/USD raced to an intraday peak of $68.36 today.…
Mango Markets hacker allegedly feigns Curve short attack to exploit Aave
As described by analysts at Lookonchain on Nov. 22, tokens of decentralized exchange Curve Finance (CRV) appear to have suffered a major short-seller attack. According to Lookonchain, ponzishorter.eth, an address associated with Mango Markets exploiter Avraham Eisenberg, first swapped 40 million USD Coin (USDC) on Nov. 13 into decentralized finance protocol Aave to borrow CRV for selling. The act allegedly sent the price of CRV falling from $0.625 to $0.464 during the week. Fast forward to today, blockchain data shows that ponzishorter.eth borrowed a further 30 million CRV ($14.85 million)…
CFTC Bypassed Legal Requirement in Trying to Serve Ooki DAO, Crypto Supporters Claim
“The CFTC relies upon a razor thin metaphysical distinction between the Ooki DAO and Ooki Protocol. According to the CFTC, the Ooki Protocol is software. In contrast, (per the CFTC) the Ooki DAO is ‘a group of users of the Ooki Protocol who (a) chose not to incorporate, and (b) both held and actually voted governance tokens to participate in the business of running the Ooki Protocol pursuant to specific, publicized governance protocols.’ The CFTC claims that it ‘is not a novel proposition’ that individuals who use the same software…