Tag Archives: AA News

The bankrupt cryptocurrency exchange has staked close to $170 million in several crypto assets, including Solana, Ethereum, and MATIC. Blockchain data revealed that the defunct platform has staked over 5.5 million SOL and more than 24K ETH. FTX Move to Staking Staking is primarily the practice of locking up cryptocurrencies on a blockchain network to support it and earning token rewards, mainly at a predetermined rate. #CryptoNews: Over 5.5 million #Solana (SOL) were sent by...

Nishad Singh, a former top engineer at the defunct crypto exchange network FTX, testified on Oct. 16 that the network’s ex-CEO, Sam Bankman-Fried, had planned a potential deal with Telegram for TON tokens. Singh commented when testifying in the ongoing court case against the former FTX CEO for financial malpractices and fraud. FTX Pitched an Idea for a Deal with Telegram Singh admitted that he was involved in defrauding customers and participating in money laundering. He...

Major cryptocurrency exchange Binance has stopped onboarding new users from the United Kingdom, pending when the firm can find a new FCA-authorized partner to approve its cryptocurrency promotions. The UK financial regulator restricted Binance’s previous local partner from approving crypto marketing materials. Binance Currently Unable to Promote Crypto to UK Customers Binance said it will place temporary restrictions on its platform for users in the United Kingdom as it is...

The Fantom Foundation has been drained of hundreds of millions of dollars from its crypto wallets by a phishing scammer, according to blockchain security firm CertiK. Fantom is a smart contract and Dapp platform focused on enhanced speed, making transactions more efficient than other layer-one blockchains like Ethereum. Tuesday’s hack affects only the Fantom Foundation – not the blockchain itself. Fantom Loses $7 Million The foundation, which oversees development for the...

ProShares is gearing up to introduce a unique offering to the market. The firm recently launched three Ethereum futures ETFs and is now preparing to debut the ProShares Short Ether Strategy ETF (SETH). This new ETF is poised to launch in early November, just a few weeks after the initial Ethereum futures ETFs debuted. ProShares Adds SETH to its Crypto ETF Lineup According to a recent filing, SETH will be listed on the NYSE Arca exchange. It is designed to deliver daily...

Digital asset investment products attracted inflows for the third week in a row, totaling $15 million. However, trading volumes remain 27% below the 2023 average. Over the past week, Bitcoin saw inflows of $16 million, bringing the year-to-date inflows to $260 million, while short BTC products also received $1.7 million. Altcoins, however, did not have a great week, according to the latest edition of CoinShares’ “Digital Asset Fund Flows Weekly Report.” Digital asset...

Binance’s American entity, Binance.US, has officially informed its customers that their digital assets held on the exchange are no longer Federal Deposit Insurance Corporation (FDIC) insured. This change follows a previous advisory from the US agency, alerting individuals to the fact that funds placed with financial service providers dealing in cryptocurrency do not fall under the protection of FDIC insurance. Binance.US Crypto Assets Lose FDIC Coverage Binance.US has...

Larry Fink – CEO of $10 trillion investment management giant BlackRock – says crypto is a “flight to safety” asset class, comparable it to the likes of gold and US Treasuries. In an interview with Fox Business, Fink dismissed the idea that Bitcoin (BTC)’s rally on Monday was merely due to a false rumor about his fund’s spot ETF application being approved by regulators. “This rally is way beyond the rumor,” he said. “I think the rally today is about a flight to quality with...

Nishad Singh – FTX’s former director of engineering – revealed more details about the crypto exchange’s profligate spending during his testimony at Sam Bankman-Fried’s fraud trial on Monday. Singh pled guilty to both money laundering and campaign finance violations, breaking down his involvement in the company’s over $100 million in donations to political candidates. Excessive and Flashy Spending As explained by Singh, the executive came to know Bankman-Fried through his...

The United States Securities and Exchange Commission (SEC) has exceeded its mid-October deadline to refute Grayscale’s court win for the approval of a spot Bitcoin exchange-traded fund (ETF). The financial agency will not appeal in court regarding the decision, Reuters reported on October 13th, citing a source familiar with the matter. SEC vs. Grayscale The legal tussle between the American regulator and the asset management firm dates back to last year. Grayscale applied...