CEO Marszalek says the firm has recovered much of the funds and has less than $10M in exposure to FTX. During a live ask-me-anything (AMA) session with users on Monday, Crypto.com CEO Kris Marszalek explained that the firm sent large-sum stablecoins to troubled cryptocurrency exchange FTX to fulfill liquidity within customers’ orders at the time...Continue Reading

Web3 technologies are changing the way we engage with various forms of entertainment and ownership is at the heart of it. Web3 is uprooting traditional entertainment industries with a new way of creating and engaging with digital content. The industry has already seen nonfungible tokens (NFTs) display the potential to transform how television scheduled programming...Continue Reading

Chinese Bitcoin mining firm Canaan posted a 90% over-the-quarter decrease in net income in Q3 2022, but it’s not the end of its business. Chinese cryptocurrency mining firm Canaan will continue to expand operations despite the ongoing bear market and an associated drop in earnings, according to the company’s CEO. Canaan posted a 90% over-the-quarter...Continue Reading

As the music industry continues to push into the Web3 space getting artists both mainstream and up-and-coming has its hurdles but also major rewards. Musicians and executives alike have seen the power of Web3 tools such as nonfungible tokens (NFTs) to transform audiences into active communities with fewer barriers between artists and fans. Recently, the...Continue Reading

Short CRO traders were paying as much as 3% premium to long traders on Nov. 14, reflecting extreme bearishness in its futures market. Crypto.com’s native token Cronos (CRO) is showing restraint on Nov. 14 against mounting sell-pressure building in the wake of the FTX’s dramatic collapse last week. Now, the CRO/USD pair is eyeing a...Continue Reading

Bitcoin may be bruised, but big names are keeping the faith as data shows investors have seized the chance to “buy the dip” on BTC. Bitcoin (BTC) starts a new week on shaky ground after its lowest weekly close in two years. The largest cryptocurrency, considerably weakened after last week’s implosion of exchange FTX, continues...Continue Reading

Despite the backlash he previously received for purchasing BTC as markets crashed, Bukele cited the recent FTX collapse to explain why Bitcoin is different. The shock wave around the FTX explosion was felt globally as it severely fractured investor confidence. However, seasoned crypto entrepreneurs and supporters — including Changpeng “CZ” Zhao and Salvadoran President Nayib...Continue Reading

Binance CEO Changpeng Zhao clarified that the project is for other potentially strong projects and not FTX, saying that “liars or fraud” would never qualify. As the effects of the FTX crisis continue to affect the markets negatively, crypto exchange Binance is creating a fund to help potentially strong projects that are having liquidity issues. ...Continue Reading

In a previous post on Twitter, the AAX exchange said it has no financial exposure to FTX and its affiliates. Hong Kong-based crypto exchange AAX has reiterated that its suspension of withdrawals on the platform has nothing to do with the ongoing fallout from FTX’s collapse and rumors to the contrary are false. The crypto...Continue Reading

The collapse of FTX has raised alarm bells across Washington D.C. United States congressman Brad Sherman, a known crypto skeptic, has pointed the finger at “billionaire crypto bros” for slowing down much-needed cryptocurrency regulation.  In a Nov. 13 statement addressing the collapse of crypto exchange FTX, Sherman said the exchange’s implosion has demonstrated the need...Continue Reading