Day: November 30, 2022

Crypto Winter Hurt Confidence, but Building Digital Asset Infrastructure Remains Key

CryptoX – Cryptocurrency Analysis and News Portal Crypto market leverage, however, is greater in this cycle than the last. That’s probably because crypto institutions such as market makers, companies and investors are the dominant traders in the market this time round, whereas in 2017-18 retail dominated. Original Source The post Crypto Winter Hurt Confidence, but Building Digital Asset Infrastructure Remains Key appeared first on CryptoX. CryptoX Portal

FTX Hacker Sends Part of Stolen Funds to OKX Exchange

A market analyst has spotted a pattern in the fund transfers made by the FTX hacker to OKX. The crypto exchange said that it is investigating into the matter. On Tuesday, November 29, the FTX hacker who drained $450 million worth of assets from the exchange, moved some of his assets to the crypto exchange OKX in an attempt to launder money. The FTX hacker has been constantly shuffling funds from one digital asset to other. Initially, the hacker converted all the stoled stablecoins into Ether and later into Bitcoin.…

France and Luxembourg Partner on Venus Initiative to Use CBDC in Settling Bond

In the latest announcement on France and Luxembourg collaborating on the Venus project, it was revealed that both institutions are proposing cross-border settlements. The Central Bank of France and the central bank of Luxembourg have partnered to roll out the “Venus Initiative”, which allows them to use an experiential CBDC for a 100 million euros bond. Worth $104 million, the bond is the latest means employed in a series of trials in tokenized financial markets. Apart from France and Luxembourg central banks, the Venus Initiative involved Goldman Sachs (NYSE: GS),…

What is the best crypto use case? Community answers

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While fears surround the crypto market because of how big projects and firms file bankruptcy one after the other, community members continue to remind the world of the best use cases for cryptocurrency.  On Twitter, the Cointelegraph social team asked the community to share their perspectives on what the best crypto use case is. From payments and self-custody to transparency and investment, community members gave a wide range of responses. What is the best use case of crypto? — Cointelegraph (@Cointelegraph) November 29, 2022 One community member highlighted the use…

Binance Acquires Sakura Exchange BitCoin to Enter Japan Under Regulatory Compliance

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Leading crypto exchange Binance has secured regulatory compliance in Japan via the 100% acquisition of local exchange Sakura Exchange BitCoin. Binance has announced the acquisition of Japanese-registered crypto exchange service provider Sakura Exchange BitCoin (SEBC). According to the Changpeng Zhao-led crypto exchange, it now owns 100% of Sakura. In addition, with its wholly-owned ownership, Binance seeks to foray into the Japanese clime, as an entity regulated by the Japan Financial Services Agency (JFSA). By offering Japanese-regulated services through SEBC, the major crypto exchange supports a responsible global environment for digital currencies. Binance Sakura Exchange…

Game7 Launches $100 Million Grants Program to Push Web3 Gaming Development – Blockchain Bitcoin News

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Game7, a blockchain gaming-focused DAO (decentralized autonomous organization) has announced the launch of a $100 million grants program. The objective of this grants program is to support the Web3 gaming community in these times of market downturn and to advance the adoption of blockchain gaming on several chains. Game7 to Support Blockchain Gaming With $100 Million Game7, a Web3 gaming-dedicated project which has already supported projects on different chains including Arbitrum, Polygon, Immutable X, and Solana, has announced the launch of a $100 million grants program to support Web3 gaming…

Singapore’s Financial Regulator Defends Itself After FTX Blowup

Wong also addressed the investment of Singapore’s state-owned investment fund Temasek into FTX, saying that it had caused not just financial loss but also reputational damage. Days after Sam Bankman-Fried’s crypto enterprise filed for bankruptcy protection in the U.S., Temasek announced it had written off its entire FTX investment of $275 million, which it said was made after conducting eight months of due diligence. Wong said that Temasek had initiated an internal review by an independent team to study and improve its processes, and to draw lessons for the future.…