Bankman-Fried’s exchange and trading firm had purchased a total of 58,086,686 SOL tokens from the Foundation and sister entity Solana Labs from August 2020 onwards, the blog post said. The Foundation said it is unclear what will happen to those assets during bankruptcy proceedings. Source
“Copper’s ClearLoop brings institutional-grade clearing and settlement to PowerTrade in line with TradFi standards,” said Mario Gomez Lozada, founder and CEO of PowerTrade. “Under this model PowerTrade does not custody our client’s assets, which will result in vastly improved controls when it comes to segregation of assets, settlements and funds management.” Source
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…
Bitcoin (BTC) investors have been increasingly moving their holdings to self-custody solutions following the collapse of the world’s second-largest crypto exchange last week. On-chain exchange flow data is showing a surge in withdrawals to self-custody wallets, according to analytics provider Glassnode. In a Nov. 13 post on Twitter, Glassnode reported that Bitcoin exchange outflows had hit near historic levels of 106,000 BTC per month. It added that this has happened only three other times — in April 2022 and November 2020, as well as in June/July 2022. It also reported…
United-States-based cryptocurrency exchange Kraken has frozen the accounts associated with “FTX Group, Alameda Research, and their executives,” on its exchange after engaging with authorities. In a Twitter post on Nov. 13, Kraken said the accounts were frozen “to protect their creditors” and added it “maintains full reserves” and other users’ funds aren’t affected, likely seeking to stamp out fears from users that the exchange might face liquidity issues due to the fund freeze. Kraken has spoken with law enforcement regarding a handful of accounts owned by the bankrupt FTX Group,…
The failure of a third-party partner means services will be delayed for as long as 10 days, the Hong Kong-based company said Sunday. The exchange did not identify the partner, and has said it has no exposure to FTX, a rival whose collapse has caused chaos in the industry. Source
Crypto exchange Kraken has frozen a handful of accounts owned by the bankrupt FTX Group, Alameda Research, and their executives. Kraken has been in contact with law enforcement after discovering that an account on its platform was used in connection with unauthorized transfers at FTX. Kraken Freezes Accounts Belonging to FTX, Alameda Research, and Executives Cryptocurrency exchange Kraken has taken steps to freeze verified accounts on its platform belonging to FTX Group, Alameda Research, and their executives. The official Twitter account for Kraken tweeted early Sunday morning: Kraken has spoken…
Bitcoin (BTC) investors are withdrawing funds from exchanges at a rate not seen since April 2021 with nearly $3 billion in Bitcoin withdrawn over the past seven days. New data from on-chain analytics firm Glassnode shows the number of wallets receiving BTC from exchange addresses hit almost 90,000 on Nov. 9. Exchange users wake up to self-custody Amid ongoing turmoil over the bankruptcy of major exchange FTX, concerns have heightened among exchange users over security of funds. Commentators have upped advice to avoid custodial wallets and take control of cryptoassets,…
Cryptocurrency exchange Uphold has recently announced the release of a new cryptocurrency-linked debit card for users in the United Kingdom that offers them incentive rewards of up to 4% in XRP token. Uphold’s crypto debit card will not incur non-sterling transaction fees, making it perfect for travel and overseas use. The launch of the US version card is slated for the following week and will be “fully available by the end of the month.” According to the document, there are no transaction or membership fees charged when using the debit…
Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Some FTX users appear to have found a way to move money off of the exchange through a back door in the Bahamas. Analysis by data firm Argus found unusual trading patterns over the past five days as FTX was gating customer withdrawals. Most irregularities had to do with digital collectibles, known as NFTs. The patterns suggest “desperate” customers were turning to FTX…