The cryptocurrency exchange Binance is making a move in the hardware wallet industry, with its venture capital arm investing in the cold wallet platform Ngrave. Binance Labs has made a strategic investment in the Belgian hardware wallet firm Ngrave and will lead its upcoming Series A round, the firm officially announced on Nov. 21. Founded…
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The ongoing case of the Celsius bankruptcy continues as the United States Bankruptcy Court in the southern district of New York State approved a new filing deadline. According to an official document, a deadline has been set for those filing any claims against the former digital assets lender. Any person or entity – which covers…
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Liquid has suspended all trading operations on its platform in line with instructions from FTX Trading, the firm announced on Twitter on Nov. 20. The statement indicates that Liquid exchange paused “all forms of trading” because of the operation of the Chapter 11 process in the Delaware courts. “We have since done so while we…
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Bitcoin (BTC) starts a new week still replaying November 2020 after its lowest weekly close in two years. The largest cryptocurrency, just like the rest of the crypto industry, remains highly susceptible to downside risk as it continues to deal with the fallout from the implosion of exchange FTX. Contagion is the world on everyone’s…
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The hacker behind the bankrupt cryptocurrency exchange FTX started transferring their Ether (ETH) holding to a new wallet address on Nov. 20. The FTX wallet drainer was the 27th largest ETH holder after the hack but dropped by 10 positions after the weekend ETH dump. The FTX hacker drained nearly $447 million out of multiple…
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Billionaire investor and hedge fund manager Bill Ackman says he remains bullish about cryptocurrencies, despite the recent collapse of the FTX cryptocurrency exchange and the market turmoil that’s followed it. In a Nov. 20 Twitter thread, the CEO and founder of hedge fund management firm Pershing Square Capital Management said he believes “crypto is here…
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The independent examiner in crypto lender Celsius’ bankruptcy case has alleged that the company failed to set up “sufficient” accounting and operational controls in its handling of customer funds. In an interim report released on Nov. 19, examiner Shoba Pillay made a number of stark observations in her court-appointed investigation into the bankrupt cryptocurrency lending…
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On-chain sleuth ZachXBT has shared his findings on what he sees as the three most common misconceptions about the FTX hack — taking to Twitter to correct a “ton of misinformation” about the event and the possible culprits. In a lengthy Nov. 20 post on Twitter, the self-proclaimed “on-chain sleuth” debunked speculation that Bahamian officials…
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On Nov. 11, while the rest of the country was celebrating Veteran’s Day, Sam Bankman-Fried announced that FTX — one of the world’s largest cryptocurrency exchanges by volume — had filed for bankruptcy. Lawmakers and pundits quickly latched onto the rapid disintegration of FTX to call for more regulation of the crypto industry. “The most…
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The FTX collapse continues to stoke fears of a contagion in the cryptocurrency space as investors wait to hear about businesses that may face the heat. One of the marquee names to come under the circle of suspicion is the Grayscale Bitcoin Trust (GBTC), which has seen its discount to Bitcoin’s (BTC) price reach record…
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