FTX fall places Singapore Government in parliamentary hot seat
The prime minister of Singapore and the ruling administration are under fire following the fall of the bankrupt cryptocurrency exchange FTX. The now-bankrupt cryptocurrency exchange FTX demise has put Singapore’s prime minister and the ruling administration under fire. In light of their inability to safeguard retail investors, Prime Minister Lee Hsien Loong and Deputy Prime […]
Crypto Lender BlockFi Files For Bankruptcy
Blockfi filed for bankruptcy, becoming the latest casualty of the financial contagion unleashed by the collapse of Sam Bankman-fried’s empire. The cryptocurrency lender, announced on Monday that it had applied for Chapter 11 bankruptcy protection in a New Jersey court along with eight affiliates. This makes BlockFi the latest victim of market instability brought on […]
Binance CEO says 127K BTC move is PoR audit procedure
The CEO of cryptocurrency exchange Binance has stated that significant sums of cryptocurrency are being moved as part of its proof-of-reserve (PoR) audits. On November 28, according to a tip from Whale Alert , Binance transmitted 127,351 Bitcoin, or more than $2 billion, to an unidentified wallet. On-chain data shows that the transaction took place […]
Aave closes lending markets to stop attacks
Protocol for decentralized liquidity Aave has temporarily shut down lending markets for 17 tokens in an effort to prevent volatility risks that might result in additional market manipulation attempts. Following a vote by Aave governance members to temporarily freeze assets deemed to be volatile and low liquidity, the lending markets were shut down. Yearn Finance […]
Bitfront crypto exchange shuts down operations
Japanese messaging giant Line-owned crypto exchange Bitfront has halted its exchange operations. However, it will still continue to support its blockchain ecosystem and the Link token. In response to the impending crypto winter, the Japanese messaging giant Line has chosen to shut down its cryptocurrency trading operation. Bitfront, a line-owned cryptocurrency exchange, declared on November […]