Author: Amanda M. Drown
According to the 2nd of November report from Decrypt, Galaxy Digital has won the bid to acquire a self-custody crypto firm, GK8, from the Celsius bankruptcy auction. However, the price of today’s acquisition is undisclosed, but a Galaxy Digital representative told Decrypt that the purchase price we agreed on was materially smaller than what GK8 was previously purchased for. In November 2021, Celsius, a bankrupt crypto lending firm, first acquired GK8 for around $115 million. But when Celcius filed for bankruptcy protection, the self-custody firm was put up for auction as part of the proceedings of Celcius, which today Galaxy…
On the 2nd of November, after a $5 million exploit on the crypto node project Ankr, Changpeng Zhao, the founder & CEO of Binance, announced that his exchange firm had paused withdrawals related to a recent hack on Ankr. In a tweet, Changpeng said that the initial analysis is the developer’s private key was hacked, and the hacker updated the smart contract to a more malicious one. Binance paused withdrawals a few hours ago and froze around $3 million that hackers moved to our CEX, Changpeng added. Ankr, a distributed node operator for proof-of-stake networks, allows users to stake their…
Su Zhu and Kyle Davies, the co-founder of the bankrupt crypto hedge fund Three Arrows Capital, reemerged recently in media interviews and on Twitter. And on the collapse of FTX, which was once the biggest crypto exchange in the world and now is nothing, and its founder Sam Bankman-Fried, the co-founders shared their opinions. Moreover, both these co-founders and Three Arrows Capital’s Singapore-based legal team have not been cooperating with requests from the Singapore court for documents related to their firm’s liquidation. The High Court of the Republic of Singapore, which is dealing with 3AC, Three Arrows Capital’s case, has…
Cryptocurrency exchange, Coinbase’s Wallet iOS application will no longer support NFT transactions due to Apple’s new strict policies on NFTs, also known as non-fungible tokens. On the 24th of October, the tech giant announced these strict new policies on NFTs in updates to its App Store Review Guidelines. On the 1st of December, on Twitter, Coinbase Wallet said that you might have noticed you can’t send NFTs on Coinbase Wallet iOS anymore, which is because Apple blocked our last app release until we disabled the feature. However, Apple’s mobile app store has not outright banned NFTs, but it subjected NFTs…
After the catastrophic collapse of FTX, which was once the biggest crypto exchange in the world and now is nothing, CFTC Chair believes that crypto is potentially a threat to National Security. On the 1st of December, Rostin Behnam, the chairman of CFTC Commodities Futures Trading Commission, said that cryptocurrency might be a threat to America’s national security and that more regulation is needed in space now. On the 1st of December, in the first congressional oversight hearing on the collapse of FTX and its founder & ex-CEO Sam Bankman-Fried, Senators questioned CFTC Chair Rostin on the lack of regulation…