Month: January 2023

Crypto Market Will See A Bloodbath If Ripple Loses To SEC

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In recent days, a heated discussion has arisen between prominent journalist and Fox Business host Charles Gasparino and the Ripple / XRP community. Gasparino voiced that the US Securities and Exchange Commission (SEC) had legitimate reasons why they targeted and sued Ripple prior to FTX. Even Ripple’s legal counsel Stuart Alderoty took a stand and rejected the arguments, as Bitcoinist reported. Meanwhile, the Fox Business host did clarify that he has no idea who will win the lawsuit. He even admitted that the judge’s comments “initially indicated she would side…

FTX has recovered over $5B in cash and liquid crypto: Report

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According to an attorney familiar with the matter, troubled cryptocurrency exchange FTX has “recovered $5 billion in cash and liquid cryptocurrencies.” However, the exchange is still “working to rebuild transaction history,” and the total amount of customer shortfall is “still unclear.” Cointelegraph previously reported that FTX has $8.8 billion in total liabilities. At the time, sources said the exchange had very little in cash and liquid digital assets, amounting to an estimated $8 billion hole in its balance sheet.  Cast your vote now! Sam Bankman-Fried, the disgraced founder of FTX,…

FTX Has Recovered ‘Over $5B’ in Assets, Bankruptcy Attorney Says

“We have located over $5 billion of cash, liquid cryptocurrency and liquid investment securities measured at petition date value. [It] just does not ascribe any value to holdings of dozens of illiquid cryptocurrency tokens, where our holdings are so large relative to the total supply that our positions cannot be sold without substantially affecting the market for the token,” said Sullivan & Cromwell attorney Adam Landis on FTX’s behalf. Source

Multiparty computation could offer increased protection for crypto wallets

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Multiparty computation (MPC) is a type of cryptographic protocol that allows multiple parties to jointly compute a function over their inputs without revealing those inputs to each other.  MPC can be useful when parties want to compute some function together but want to keep their inputs private from others. For example, a group of banks may want to determine the total amount of money in their joint account without revealing their account balances to each other. In MPC, each party has a secret input that they keep to themselves. The…

Multi-party computation could offer increased protection for crypto wallets

Multi-party computation (MPC) is a type of cryptographic protocol that allows multiple parties to jointly compute a function over their inputs without revealing those inputs to each other.  MPC can be useful when parties want to compute some function together but want to keep their inputs private from others. For example, a group of banks may want to determine the total amount of money in their joint account without revealing their account balances to each other. In MPC, each party has a secret input which they keep to themselves. The…

Abu Dhabi-based Venom Foundation launches $1B fund for Web3 and blockchain

Abu Dhabi-based blockchain platform Venom Foundation and investment manager Iceberg Capital announced they will allocate $1 billion of funding to Web3 and blockchain firms through a new partnership. The Venom Ventures Fund is set to invest in protocols and Web3 decentralized applications (DApps) focused on payments, asset management, decentralized finance (DeFi) and GameFi products and services. The fund is a partnership between layer-1 blockchain solution, Venom Foundation and Abu Dhabi Global Market (ADGM) investment management firm, Iceberg Capital. The latter will look to leverage its existing network to offer incubation…