Cryptocurrency exchange Crypto.com mistakenly sent 320,000 ETH to a wallet address linked to Gate.io in late October. While the platform has since recovered the assets, Binance CEO Changpeng Zhao advised users that it is best they stay away from the platform. … Read More: Crypto.com Sends $400 Million Worth of Ethereum to Wrong Address, Binance CEO…
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While acknowledging the damage caused by FTX, Buterin believes that FTX CEO Sam Bankman-Fried, as a person, deserves love. The sudden fall of FTX revealed the need for fresh reforms aimed at protecting investor funds against manipulation and misdirections. The co-founder of Ethereum, Vitalik Buterin, believes what FTX did was a bigger fraud when compared…
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India’s Enforcement Directorate (ED) says that it has frozen 150.22 more bitcoins held at cryptocurrency exchange Binance. The freeze is part of an investigation into mobile gaming application E-nuggets, which was designed to defraud the public, the ED said. India Freezes More Bitcoins at Binance India’s Enforcement Directorate (ED) announced Friday that it has frozen…
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When it was first discovered that FTX might be insolvent, a large slew of crypto exchange executives said that they aimed to provide proof-of-reserves audits. While exchanges like Binance and Crypto.com have provided wallet addresses tied to company wallets, blockchain analytics firm Nansen has detailed the company is in the midst of creating a display…
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With one of the biggest crypto businesses falling overnight after getting caught misappropriating user funds, CZ believed the episode was devastating for the industry, which took away a lot of consumer confidence. Crypto exchange FTX joined many other fallen projects — including Terra (LUNA), 3AC, Celsius and Voyager — in filing for bankruptcy in 2022.…
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On Nov. 11, 2022, the CEO of Crypto.com Kris Marszalek shared the company’s proof-of-reserves addresses that hold leading crypto assets like bitcoin and ethereum. Marszalek says a “proof-of-reserves audit preparation is underway” and the wallet addresses shared are the company’s cold wallets. Crypto.com CEO Kris Marszalek Shares Company’s Cold Wallet Addresses, Promises Full Audit Soon…
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After lecturing us about crypto regulation, Sam Bankman-Fried’s house of cards collapsed this week as FTX declared bankruptcy. Who would’ve thought that the implosion of Terra, the collapse of Three Arrows Capital and the bankruptcies of Celsius and Voyager wouldn’t be the most terrible crypto stories of 2022? In retrospect, crypto’s day of reckoning —…
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The collapse of Sam Bankman-Fried’s crypto empire is likely to have repercussions beyond the crypto markets, according to Mike McGlone, senior commodity strategist at Bloomberg. The repercussions of the cataclysmic FTX downfall are going to be broader than the crypto markets, as they will accelerate downward moves in stocks and commodity markets, according to Mike…
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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…
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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…
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