FTX Accused of Faking Insurance Fund Figure Using Python Code
According to the former CTO of the cryptocurrency exchange, FTX’s so-called “Backstop Fund” figure was a massive fabrication. Bitcoin exchange Gary Wang, co-founder of FTX, testified that FTX used concealed Python code to misrepresent the value of its insurance fund — a pool of funds intended to prevent user losses during massive liquidation events. Gary […]
Coinbase Base Platform Records 25% TVL Surge Last Week
During the past week, Coinbase’s Ethereum-based Layer-2 network, also known as the Base platform, has generated significant activity in the decentralized finance (DeFi) market. The Total Value Locked (TVL) in the Base network has increased by 25.23 percent over the past week, reaching $558 million, according to data from L2Beat. This expansion has surpassed zkSync […]
This Week on Crypto: Focus on US CPI and Other Macros
Increased crude oil prices due to recent conflict between Israel and Hamas leads to liquidity pressure for Bitcoin and other cryptocurrencies. After a robust start to the month of October 2023, Bitcoin and the broader cryptocurrency market remained quite volatile during the first week. Bitcoin posted modest gains and is currently trading near $28,000. In […]