Amber Group has criticized ZKX protocol’s abrupt decision to cease operations, stating that it sets a concerning precedent. Hashkey Capital, another market participant, has also expressed dissatisfaction with ZKX’s lack of transparency and accountability. ZKX founder Eduard Jubany Tur identified limited user engagement and low trading volumes as factors that ultimately impacted the protocol’s financial…
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Citadel Securities is suing two former employees after they left to form a cryptocurrency market-making firm. One of the world’s largest market makers claims that Leonard Lancia and Alex Casimo started raising capital and building the trading firm Portofino Technologies, while still working at Citadel, with access to proprietary information, according to Bloomberg News…. Read…
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A Layer two (L2) project, called Cryptogpt, which leverages ZK-rollup technology and artificial intelligence (AI), has announced that its team has raised $10 million in capital from a Series A funding round. The crypto and AI firm disclosed that the new funds would be used to expand into the largest Asian markets, and the company…
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FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe Turkish authorities “or any liquidator” in the country will cooperate with officials…
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While the collapse of the crypto exchange FTX and its affiliate Alameda Research is thought to have left many crypto players, including market makers, in the worst possible position, according to Andrei Grachev, managing partner at DWF Labs, this incident may have helped to “flush out companies that were not sustainable enough to operate during…
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