The decision to freeze Shin’s asset worth over $104 million was approved by the Seoul Southern District Court, which was based on a request from the prosecutors. While crypto exchange FTX stole the limelight from other fallen ecosystems, South Korean authorities continue their efforts to bring closure to the victims of the year’s first crypto...Continue Reading

A letter by the chair of the Subcommittee on Economic and Consumer Policy demanded the former and current FTX CEOs turn over details of the exchange’s past and current financials. The former and current CEOs of the bankrupt FTX cryptocurrency exchange have been pressed by the chair of a United States House subcommittee calling for...Continue Reading

Grayscale shared a letter from Coinbase Custody attesting that each of Grayscale’s crypto products is fully backed, but stopped short of providing the wallet addresses. Cryptocurrency investment product provider Grayscale Investments has refused to provide on-chain proof of reserves or wallet addresses to show the underlying assets of its digital currency products citing “security concerns.”...Continue Reading

Let’s ensure that the companies replacing FTX in the public eye understand what cryptocurrency is about and want to get back to its core values. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information,” new FTX CEO John Ray III said...Continue Reading

In the past 48-hours Bitcoin traders added to their leveraged long positions even as crypto critics and politicians ramp up their criticism of cryptocurrencies. Bitcoin (BTC) price has tested the $16,000 resistance multiple times since the 25% crash that occurred between Nov. 7 and Nov. 9, and some critics will justify their bearish bias by...Continue Reading

Some companies have resulted in layoffs to deal with their million-dollar losses. Nickel Digital Asset Management is not the only company feeling the effects of FTX’s collapse and bankruptcy. NFT protocol Metaplex also laid off, “several members of the Metaplex Studios team” due to the “indirect impact” from the collapse of crypto exchange FTX. The...Continue Reading

FTX is gone, and it looks like many centralized crypto platforms will fall with it. But is there a silver lining? 2022 was a tough year for crypto, and November was especially hard on investors and traders alike.  While it was incredibly painful for many, FTX’s blowup and the ensuing contagion that threatens to pull...Continue Reading

“This is categorically a very, very negative thing for human beings and for the regulatory environment,” Yang said. Calls for harsher regulations around cryptocurrencies and digital assets will likely grow louder in the aftermath of FTX’s collapse — something former United States presidential candidate Andrew Yang said isn’t conducive to making America a hotbed for...Continue Reading

The commissioner said Congress may have to intervene in relations between the regulating agencies, but both have a role to work out; until then the burden is on the states. United States Commodity Futures Trading Commission (CFTC) commissioner Summer Mersinger suggested that the time to act on cryptocurrency regulation may have arrived. Speaking at the...Continue Reading

The bears were in control for the second week after FTX collapse, leading to a market-wide dismal performance including top 100 DeFi tokens. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The FTX collapse has created a...Continue Reading