“I lived through the financial crisis as COO of a $1 billion hedge fund, we did diligence on Morgan Stanley, Goldman Sachs, BNY Mellon, Lehman Brothers, and we stayed out of Lehman because of the inherent risks and didn’t get caught in the bankruptcy,” he said. “Crypto people need to apply the same thinking in times of stress.” Source
In addition to this arrest, South Korea’s National Tax Service had also opened a separate investigation into the possible tax evasion at Bithumb and its affiliates. On Thursday, February 2, Kang Jong-Hyun, the former chairman of South Korea-based crypto exchange Bithumb was arrested on charges of embezzlement, fraudulent illegal transactions, and breach of trust. The development comes a week after South Korean authorities requested the arrest of Bithumb owners. Arrest of Former Bithumb Chairman Along with Jong-Hyun, the South Korean authorities also requested the arrest of two other Bithumb executives…
An Ethereum (ETH)-based decentralized exchange (DEX) token has shot up 50% in just a few days after the project released a new annual report. The dYdX (DYDX) Foundation released its “inaugural ecosystem annual report” on Monday, which outlined the decentralized finance (DeFi) DEX’s development in 2022. “Despite the challenging market conditions in 2022, stakeholders in the dYdX ecosystem persevered and continued to build toward the future of finance — one block at a time. In 2022, DeFi proved its resilience and demonstrated clear advantages over CeFi [centralized finance]. Market activity…
South Korean prosecutors had sought the arrest of Jong-Hyun last week along with two other executives – including his younger sister, Kang Ji-Yeon, the CEO of two publicly traded Bithumb affiliates, Inbiogen and Bucket Studio, according to local reports. Source
South Korean prosecutors had sought Kang’s arrest last week along with two other executives including his younger sister, Kang Ji-Yeon, the CEO of two publicly traded Bithumb affiliates, Inbiogen (101140) and Bucket Studio (066410), according to local reports. Source
US-based cryptocurrency platform Coinbase is enhancing the safety of Coinbase Wallet as threats to users increase. The crypto exchange says it has added features to its wallet to help protect its users against scams such as phishing attacks and malicious airdrops. According to the crypto exchange, the Coinbase Wallet will now offer more clarity to users when they are interacting with smart contracts or decentralized applications (DApps) to ensure they are well aware of every action they take, from coin swaps to non-fungible token (NFT) minting. “Transaction previews: To give…
Dexalot’s dual-chain app establishes a base for expanding to other host chains to enable mass adoption of decentralized finance (DeFi), according to the press release. The Subnet implementation will build a foundation for interoperabilities within multiple ecosystems, which can be created on top of, and around Dexalot, the press release added. Source
The co-founder of Bitzlato stated that they will allow 50% of user funds in Bitcoin held in Bitzlato wallets to be withdrawn on the same day we launch. As per the latest development, the defunct crypto exchange Bitzlato is looking to make a comeback once again in the market. The Hong Kong-based crypto change Bitzlato has been charged with money laundering and got its servers seized in a major international operation earlier this month. In a recent interview, the Bitzlato co-founder said that the company is planning to resume operations…
Amongst the various arms Sam Bankman-Fried’s fallen crypto empire, FTX.US has $260 million in cash. Bankman-Fried has repeatedly claimed that the U.S. wing is solvent. Last month he blogged that FTX US “had at least $111m, and likely around $400m, of excess cash on top of what was required to match customer balances.” Source
Place/Date: – January 31st, 2023 at 8:28 pm UTC · 4 min read Source: LBank Exchange Photo: LBank Exchange LBank Exchange, a global digital asset trading platform, listed Global Digital Cluster Coin (GDCC) on January 27, 2023. For all users of LBank Exchange, the GDCC/USDT trading pair is now officially available for trading. With its new-age protocol and peer-to-peer network, Global Digital Cluster Coin (GDCC) restructures the concept of money and assets with cutting-edge technologies that have the potential to transform various industries and allow people to adopt crypto assets.…