Crypto news

In its recently released third-quarter earnings report, crypto financial services firm Galaxy Digital revealed that it holds over $76 million worth of exposure to FTX, the mainstream crypto exchange that is now experiencing a liquidity crisis.  Per the report, the $76.8 million of exposure is comprised of both cash and digital assets. Within that, $47.5 million is still in the withdrawal process. FTX appears to have stopped processing withdrawals on Tuesday after the company...

One of the leading crypto miners – Marathon Digital Holdings – recorded a net loss of $75.4 million, or $0.65 per share, during the third quarter of the year due to decreased production and the declining price of bitcoin. Still, the company rounded up its total stash to 11,285 BTC. Data shows that only the Michael Saylor-founded organization MicroStrategy has more bitcoin possessions. Q3 Was a Transition Period Fred Thiel – Marathon’s Chairman and CEO – said 2022’s Q2 was a...

As a ‘last resort’ option, Meta CEO Mark Zuckerberg has announced that his company will be slashing 11,000 employees from its workforce. That’s 13% of the company. In a blog post shared with employees on Wednesday, Zuckerberg said Meta was taking steps to become “leaner” and more efficient, but regrets that he now must lay off employees.  Zuckerberg explained that the company had been shifting resources into “high priority growth areas,” including the metaverse, while cutting...

Binance’s CEO said the world’s largest cryptocurrency exchange increased its Secure Asset Fund for Users (SAFU) to $1 billion again. This comes as a result of the recent market plunge, and its purpose is to grant customers maximum protection in case of another possible negative event. Changpeng Zhao (CZ) tweeted that his trading venue topped up its SAFU insurance fund to $1 billion. BUSD and BNB holdings account for $700 million of the total sum, while BTC’s address makes up...

Binance, the world’s largest crypto exchange, has backed out of its agreement to purchase FTX just one day after signing an agreement to rescue the company on Tuesday. Binance said its decision was made in light of a review of FTX’s handling of customer deposits, alongside alleged US agency investigations against the firm.  The announcement, made on Wednesday, claimed that FTX’s financial position was beyond help – even from Binance.  “In the beginning, our hope was to be...

A few months earlier, FTX CEO SBF said several “third-tier” crypto exchanges were insolvent but yet to be exposed. This was when several crypto lending platforms suffered massive financial contagion following Three Arrows Capital’s (3AC) fallout as a result of Terra’s spectacular collapse. His comments, obviously, did not age well now that his empire appears to be crumbling. Crypto Projects Fail, FTX Not an Exception Sam Bankman-Fried’s story of building his crypto empire...

Charles Hoskinson – Founder of the blockchain platform Cardano – thinks the turbulence around FTX and its native token – FTT – could be the last adverse event of the ongoing crypto winter. He finds it normal that the entire digital asset space was negatively affected by the news since Sam Bankman-Fried’s trading venue is among the leading entities in its field, and its crisis causes a “cascade through the cryptocurrency market.”  It’s Always Darkest Before the Dawn While 2022...

United States financial regulators have reportedly launched a probe into FTX – one of the world’s largest crypto exchanges that is now unable to process customer withdrawals.  The investigators intend to examine whether FTX properly managed customer deposits, alongside its relationship with CEO Sam Bankman-Fried’s other crypto projects.  Probed by SEC and CFTC As reported by Bloomberg, the probe was revealed by two people familiar with the matter, who asked not to be...

Solana’s Epoch 370 is set to end in a little under 24 hours, and with it will come the unlocking of over 47 million SOL tokens by validators. This massive token unlock is coming at a time of significant market tumult, not just for Solana but for the entire crypto space following the FTX collapse. According to data from the Solana dashboard, 47,289,526 SOL, worth nearly $1 billion, is set to be unlocked in Epoch 370. An epoch in Solana is a period where validators cannot...

Ingo Stelzer und Almir Adrovic im Porträt (von links nach rechts) Bildquelle: Selli AG Die Christoffel-Blindenmission (CBM) arbeitet mit der Selli AG zusammen, um KI-basierte Digitaltechnologie im Fundraising zu nutzen. Damit wird das digitale Portal („move“) des Start-ups zum Einsatz kommen, wenn es um die Akquise, den Aufbau und die Pflege von Beziehungen zu privaten Grossspenderinnen und Grossspendern, Unternehmen und Stiftungen geht. Selli...