The CEO of Bitgo stated that the Alameda representative failed the security verification process required to convert wrapped-BTC into BTC. Mike Belshe, the CEO of digital asset custodian BitGo has confirmed that Alameda Research attempted to redeem 3,000 Wrapped Bitcoin (wBTC) in the days before FTX’s bankruptcy filing on Nov. 11.  During a Dec. 14...Continue Reading

Court filings show Ryan Salame tipped off the Bahaman securities regulator, telling them that FTX was sending customer funds to Alameda Research. According to Bahamian court records filed on Dec. 14, Ryan Salame, the former co-CEO of FTX Digital Markets told the Securities Commission of the Bahamas (SCB) on Nov. 9 that FTX was sending...Continue Reading

A former FTX employee has revealed details regarding the lavish expenditures of the exchange as well as its intense company culture. A former employee of crypto exchange FTX has seemingly exposed the company’s excessive luxury expenditures, obsessive workplace culture and grueling work hours leading to the hiring of a company psychiatrist in the year before...Continue Reading

Weekly-realized losses peaked at $20.5 billion when Terra Luna (LUNC) imploded and reached $33 billion when 3AC and Celsius collapsed, according to Chainalysis. Blockchain analytics firm Chainalysis has attempted to put the FTX collapse into perspective — comparing peak weekly-realized losses in the wake of the exchange’s collapse compared to previous major crypto collapses in...Continue Reading

Tom Emmer is considering reintroducing a bill that removes the requirement for entities to be registered as money transmitters if they don’t handle customer assets. Crypto-friendly Congressman Tom Emmer is considering re-floating a bipartisan bill that would lift the requirement for certain crypto businesses and projects to register as Virtual Asset Service Providers (VASPs) in...Continue Reading

Changpeng Zhao’s comments come as billions of dollars of stablecoins continue to flow out of the Binance exchange. Binance CEO Changpeng “CZ” Zhao has cautioned the crypto community about self-custody, suggesting that 99% of people choosing to self-custody their crypto will likely lose it one way or another.  CZ has been been a supporter of...Continue Reading

The overhaul of the protocol, dubbed “Maple 2.0” comes only weeks after the platform saw two major defaults on the back of FTX’s collapse. Maple Finance is a decentralized credit market powered by blockchain technology. Instead of requiring overcollaterlization of loans, it instead allows managers, called “Pool Delegates” to issue loans from its lending pools...Continue Reading

BTC bears are positioned to profit from this week’s Bitcoin options expiry, especially if price stays below $18,000. On Dec. 14, Bitcoin (BTC) broke above $18,000 for the first time in 34 days, marking a 16.5% gain from the $15,500 low on Nov. 21. The move followed a 3% gain in the S&P 500 futures...Continue Reading

Bahamian Commissioner of Correctional Services Doan Cleare reportedly said that most of the facilities had been renovated since 2021 and now had no “issues with rodents.” After being denied bail in a Bahamas Magistrate Court, former FTX CEO Sam Bankman-Fried could spend up to two months in the country’s Fox Hill Prison, a facility with...Continue Reading

The Organisation for Economic Cooperation and Development found regulation and retail consumer protections lacking in a highly complex trading environment. The Organisation for Economic Cooperation and Development (OECD) analyzed the crypto winter in a new policy paper titled “Lessons from the crypto winter: DeFi versus CeFi” released Dec. 14. The authors examined the impact of...Continue Reading