Genesis Trading is the latest firm to declare exposure to FTX and may look to its parent company for help as it did after the 3AC bankruptcy. In what it hails as an effort to be transparent, Digital Currency Group’s market maker and lending subsidiary, Genesis Trading, revealed that its derivatives business has around $175...Continue Reading

Contrary to what you might believe, monetary rewards in gaming are bad for player retention. Developers need to take player psychology and game design into account. When I worked for Riot Games as its head of player acquisition in the European Union, I learned about player onboarding and long-term retention. Both are crucial to the...Continue Reading

The Bahamas Securities Commission said FTX’s assets could not be moved without the approval of a Supreme Court-appointed liquidator. The Bahamas Securities Commission (BSC) has frozen the assets of FTX Digital Markets (FDM) and “related parties” on Nov. 10, it also suspended FTX’s registration in the country and the Bahamian Supreme Court appointed a provisional...Continue Reading

The company claimed its PoR product can restore trust in crypto exchanges through greater transparency, but not everyone is convinced. Chainlink Labs offered its Proof of Reserve product as a solution to future trust issues in the crypto exchange market on Nov. 10. In a tweet thread, Chainlink Labs asked “Will crypto continue to repeat the...Continue Reading

Exciting times lead to exciting posts, many of which bring up valid questions, and maybe some less valuable answers. Events are unfolding fast as the cryptocurrency market is rocked again, this time by FTX. Facts and non-facts are hard to sort out under these conditions, especially since both seem to be depegged from believability at...Continue Reading

Richard Handler alleged that he offered restructuring services to FTX that might have saved it, but exchange reps refused to meet with him. Richard Handler, CEO of Jefferies Financial Group, seemingly alleged on Nov. 10 that he knew about FTX’s liquidity problems back in July. In a Twitter thread, Jeffries revealed screenshots of emails that he...Continue Reading

BTC bears are set to profit from this week’s $710 million options expiry, which could be used to add further sell pressure to Bitcoin price. Bitcoin (BTC) crashed below $16,000 on Nov. 9, driving the price to its lowest level in two years. The 2-day correction totaled a 27% downtrend and wiped out $352 million...Continue Reading

NFTs from Layer 2 were not previously recognizable to apps like Twitter. Optimism developers jvmi and Kelvin Fichter released a new app called Magic Mirror on Nov. 9 that allows NFT holders to copy or “mirror” their Optimism NFTs to the Ethereum mainnet. NFT holders can now use their Optimism NFTs in a variety of...Continue Reading

The protocol announced an agreement to buy out 100% of FTX Ventures’s and Alameda Research’s equity position. Interoperability protocol LayerZero Labs announced on Nov.10 an agreement to buy out 100% of FTX Ventures’ and Alameda Research’s equity position, including token warrants and all agreements between the parties.  In March, the protocol raised $135 million in a...Continue Reading

According to Press Secretary Karine Jean-Pierre, the administration and financial agencies will “closely monitor” developments in the crypto market. The White House said the Biden administration was monitoring the situation with the recent crypto market crash but deferred to independent regulators for any potential enforcement actions. In a Nov. 10 press briefing, White House Press...Continue Reading