FTX founder Sam Bankman-Fried said the exchange won’t be “making a habit of compensating” users that are “phished by fake versions of other companies.” Cryptocurrency exchange FTX will provide around $6 million in compensation to victims of a phishing scam that allowed hackers to conduct unauthorized trades on certain FTX users’ accounts.  FTX founder and...Continue Reading

The Digital Assets division within Fidelity Investments will have around 500 total staff members by the first quarter of 2023, according to a spokesperson. $4.5 trillion asset management firm Fidelity Investments is reportedly set to hire another 100 people to bolster the firm’s growing digital assets division — a stark contrast to the recent squeezing...Continue Reading

Nik Bougalis primarily worked on open-source code projects for the payments-focused XRP Ledger, with the recent push to introduce NFTs being a key implementation of note. Ripple Labs’ director of engineering Nik Bougalis is exiting the firm after nearly 10 years, becoming the latest of crypto’s long-time serving executives to depart from the space.  In...Continue Reading

Avraham Eisenberg is at it again, following up his exploit of Mango Markets by deploying a new ‘shitcoin’ named Mango Inu to purportedly swipe liquidity from bot traders. In just over a week after pulling off the $117 million exploit of Mango Markets, Avraham Eisenberg is now boasting about making $100,000 rug-pulling a “shitcoin” called...Continue Reading

Since Binance announced it would auto-convert USDC, USDP and TUSD into BUSD on Sept. 6, BUSD’s share of the total stablecoin market has risen from 10.01% to 15.48%. FTX CEO Sam Bankman-Fried (SBF) said the rise of Binance stablecoin BUSD could spark the “Second Great Stablecoin War,” given how fast its market cap has surged...Continue Reading

The largest NFT marketplace is facing headwinds from its competition as OpenSea sees its market share slip whilst its rivals gain significant ground. Opensea’s dominance begins to waiver Nonfungible token (NFT) marketplace Opensea has seen its competitors chomping at its ankles this year as they gain market share — turning the market from a “monopoly”...Continue Reading

Cryptocurrency platform Freeway has halted transactions and services related to their “Supercharger” high-yield product until further notice. Crypto platform Freeway has halted some of its services, citing “unprecedented volatility” in the foreign exchange and cryptocurrency markets in “recent times.” In an Oct. 23 post, the platform announced they are halting buys, deposits and will “not...Continue Reading

Incubators provide a foundation for many crypto companies and have a responsibility to ensure they’re taking steps to survive in a bear market. Contrary to popular belief, a bear market provides ideal conditions for startup founders and developers to work on technological innovations. The absence of market frenzy and speculative investing helps startups to focus...Continue Reading

Depending on who you listen to, Bitcoin’s price is headed for either $3,500 or $1 million in the year ahead. The Bitcoin (BTC) community is divided about whether the token’s price is going to surge or crash in the year ahead. A majority of analysts and technical indicators suggest it could bottom between $12,000 and...Continue Reading