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Bhushan Akolkar



Articles by Bhushan Akolkar

Reddit Sees Minting of Collectible Avatars at All-Time High

4 days ago

Last Saturday alone, 255,000 Reddit Collectible Avatars were minted making it the highest single-day mints on the platform since launch.Over the last weekend, the social media platform Reddit hit a new milestone with the minting of collectible avatars on the platform. Last Saturday, December 3, Reddit witnessed a new all-time high in the number of Collectible Avatars minted in a single day.Since Reddit launched the collection earlier this year, more than 4.4 million collectible avatars have been minted. Last Saturday alone, 255,000 Reddit Collectible Avatars were minted. Reddit uses the term Collectible Avatars for its Polygon-based NFTs. They help Reddit users represent their different avatars on social media platforms. The platform has termed the launch of its Collectible Avatars as a

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Coinbase CEO Says FTX Clearly Stole User Funds, Rejects Claims of Accounting Error

4 days ago

Coinbase chief slammed crypto exchange FTX over their excuses for an accounting error. Brian Armstrong said that FTX clearly stole customers’ money by moving funds to Alameda Research.After all, what’s transpired in the crypto space with the collapse of crypto exchange FTX, industry heavyweights have weighed in with their opinion. Coinbase chief Brian Armstrong lashed out at FTX founder Sam Bankman-Fried for his handling of customer funds. As we know, SBF has been giving public interviews over the last week while trying to claim innocence over the matter.Coinbase CEO Speaks about FTX Users’ FundsBrian Armstrong has slammed FTX over the $8 billion hole on its balance sheet. He said that there’s no way that billions of dollars might have simply slipped past FTX’s founder and former CEO. In a

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Binance Labs Pledges $4.5 Million Investment in Ambit Finance

7 days ago

Both Ambit Finance and Binance Labs will work together on launching future DeFi apps with a focus on innovation, security, and risk control.Earlier today, December 2, crypto exchange Binance announced a strategic investment of up to $4.5 million in Ambit Finance. The investment will come through Binance Labs, a venture capital arm of Binance.The goal behind this investment is to provide a boost to decentralized finance (DeFi) applications on BNB Chain. As a result, Ambit and Binance Labs will work together in launching future DeFi apps while putting up a major focus on innovation, security, and risk control. Besides, they would also collaborate with other projects in the BNB ecosystem. Ambit Finance will enable new use cases for BNB Chain users while creating a yield-bearing BUSD-based

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Sam Bankman-Fried Was in Close Talks with CFTC for 14 Months before FTX Collapse

7 days ago

The CFTC chair accepted that he had conducted nearly 12 meetings with SBF in the last 14 months before bankruptcy. SBF was looking to secure a clearinghouse license for FTX subsidiary LedgerX.It’s not a new story that FTX‘s disgraced founder Sam Bankman-Fried was in close contact with US lawmakers. However, the latest report suggests that Bankman-Fried also met with some high-level officials at the US Commodities and Futures Trading Commission (CFTC) more than 10 times over the last 14 months.Bankman-Fried vs CFTCOne of his meetings was also with the CFTC chairman Rostin Behnam. On Thursday, December 1, the CFTC chair testified before the Senate Committee on Agriculture, Forestry, and Nutrition which oversees that nation’s commodities market. Speaking to the senators, the CFTC chair said

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TON Steward Announces $126M Rescue Fund to Attract More Projects

8 days ago

The TON Foundation’s rescue fund will help projects experience liquidity problems amid the recent collapse of the crypto exchange FTX.The TON Blockchain platform, initially developed by social media giant Telegram, is now on a new journey in the crypto space. On Wednesday, November 30, the stewards of the TON network announced a new rescue fund with an initial commitment o $126 million.The TON network said that the fund will help projects experience liquidity problems amid the recent collapse of the crypto exchange FTX. The aim behind launching this rescue fund is to attract more projects towards the ecosystem. Thus, the TON Foundation is willing to play its part to effectively reduce the knock-on effects triggered by the dramatic fall of FTX. Besides, the Foundation disclosed that the

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FTX Hacker Sends Part of Stolen Funds to OKX Exchange

9 days ago

A market analyst has spotted a pattern in the fund transfers made by the FTX hacker to OKX. The crypto exchange said that it is investigating into the matter.On Tuesday, November 29, the FTX hacker who drained $450 million worth of assets from the exchange, moved some of his assets to the crypto exchange OKX in an attempt to launder money. The FTX hacker has been constantly shuffling funds from one digital asset to other.Initially, the hacker converted all the stoled stablecoins into Ether and later into Bitcoin. On Tuesday, the FTX hacker transferred 255 Bitcoins worth $4.1 million to the crypto exchange OKX. Popular analyst ZachXBT posted it on Twitter alleging that hackers have transferred a portion of the stolen funds to OKX after using the Bitcoin mixed ChipMixer. 1/ Myself and

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Crypto Market Jumps Past $1 Trillion Milestone Once Again in Recent Rally

October 26, 2022

Ethereum (ETH) has emerged as the top performer in the top ten crypto-list gaining over 14% and moving past $1,500 for the first time since the Merge event.On Tuesday, October 25, the broader crypto market made a sharp rally surging past more than 5% and above the $1 trillion market cap. As of the press time, the broader cryptocurrency market is up 7% with a combined market cap of $995 billion.The world’s largest cryptocurrency Bitcoin (BTC) has also gained 7% and is currently trading at $20,6000 just short of $400 billion. Historically, October has been the month of strong performance for BTC and the broader crypto space. However, the party started quite late this year with Bitcoin’s monthly gains at just over 7%. The recent surge on Tuesday came as the US equity market continued to

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GOOGL Stock Tanks 6.5% as Alphabet Misses on Q3 2022 Earnings

October 26, 2022

Alphabet’s ad revenue from YouTube tanks by 2% against market expectations. The GOOGL stock price has slipped once again under $100 this year.During the aftermarket trading session on Tuesday, October 24, shares of Alphabet (NASDAQ: GOOGL) dropped nearly 7% on weaker-than-expected Q3 2022 earnings.Alphabet and Its Performance in Q3 2022The company’s revenue growth slowed to 6% from 41% a year ago as the company sees a major dip in online ad spending. This also turns out to be the weakest period of growth for the company since 2013. Alphabet’s earnings per share stood at $1.06 vs. the $1.25 expected. Also, the revenue stood at $69.09 billion vs. the $70.58 billion expected. Surprisingly, YouTube ad revenue tanked 2% to $7.07 billion from $7.21 billion a year before. However, the analysts

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