While long-term solutions will need the involvement of multisig and social recovery wallets, Buterin pointed out two alternatives for the short-term — custodial and non-custodial exchanges. The collapse of numerous major crypto ecosystems in 2022 revealed the urgent need for revamping the way crypto exchanges operate. Ethereum (ETH) co-founder Vitalik Buterin believed in exploring beyond...Continue Reading

Attorney Martin Flumenbaum believed that Sam Bankman-Fried’s “incessant and disruptive tweeting” negatively impacted the reorganization efforts of the lawyers. Paul, Weiss, the law firm backing FTX CEO Sam Bankman-Fried (SBF) amid bankruptcy, renounced representing the entrepreneur, citing a conflict of interest. The decision to withdraw from representation after SBF’s tweets were found to disrupt the...Continue Reading

Spain, Portugal and Brazil national teams’ fan tokens are experiencing a price boom as the World Cup gets underway. The FIFA World Cup in Qatar is boosting the value of national soccer team fan tokens despite the cryptocurrency bear market. World Cup Qatar hype boosts fan token prices These digital fan tokens are currently rallying despite the cryptocurrency...Continue Reading

Historical data around crypto crashes revealed that 14 crypto exchanges, together, were responsible for the loss of at least 1,195,000 BTC, representing 6.3% of the 19.2 Bitcoin currently in circulation. One of the biggest factors differentiating Bitcoin (BTC) from fiat currency and most cryptocurrencies is the hard limit of 21 million on its total circulating...Continue Reading

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

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