Tag Archives: social

Multi-chain crypto wallet BitKeep revealed that it will launch the compensation portal in the first week of February, and 50% of the funds are expected to be returned to users by the end of the same month. The remaining funds will be distributed by the end of March. To avoid fluctuation, the asset valuation of the compensation will be converted to USDT stablecoin. In a series of tweets, BitKeep said that its technical team, as well as security agencies, devised a closed-loop...

The acting Chief Executive Officer of FTX, John J. Ray III, who is in charge of making sure that the creditors of the bankrupt exchange receive as much compensation as possible, said that the platform might restart. In an interview with The Wall Street Journal, John J. Ray III said that restarting the exchange is on the table. Everything is on the table. If there is a path forward on that, then we will not only explore that, we will do it. FTX filed for Bankruptcy back in...

With bitcoin’s price surging by over $5,000 since the start of the year and reclaiming $20,000, the number of analysts predicting that the asset is out of the woods continues to increase. CryptoQuant is the latest analytics company to offer some insight into the key on-chain signals that could suggest the start of a bull run. Shortly after Santiment informed that the supply of bitcoin held on centralized exchanges had dropped to a multi-year low, CryptoQuant outlined the...

After the excessive turmoil in the crypto market triggered by the FTX liquidity and bankruptcy scandal, several crypto service providers began publishing their reserve funds. Popular crypto exchange OKX released its third Proof-of-Reserves (PoR), in which it revealed holding “clean assets” worth $7.5 billion in BTC, ETH, and USDT. In a statement, OKX’s Chief Marketing Officer Haider Rafique said, “Security, transparency, and trust are core tenets of the OKX business process...

Kevin O’Leary – a popular Canadian investor and host of the TV show Shark Tank – believes the unregulated cryptocurrency environment will cause the collapse of other companies. However, he remains a proponent of the industry, admitting that he invested 5% of his wealth in bitcoin. Future Trouble Seems Inevitable In a recent interview for Kitco News, O’Leary forecasted that the FTX demise will certainly not be the last such event in the cryptocurrency space. He claimed some of...

Barry Silbert’s crypto conglomerate, Digital Currency Group (DCG), revealed halting quarterly dividends until further notice. In an email to shareholders, as viewed by Bloomberg, the crypto investment firm said it is currently focused on “reducing operating expenses and preserving liquidity” in response to the current market environment. Troubles for DCG The FTX collapse exposed significant irregularities in Barry Silbert’s empire, with DCG at the receiving end of intense...

The cryptocurrency market staged an early recovery at the beginning of 2023, but many remain skeptical as to whether the ongoing rally will last. Some exchanges, including Coinbase and Crypto.com, continue with their staff cuts in a bid to weather the macro bear market, but others remain resilient. Case in point – Binance. BNB Coin is the native token of the exchange. It’s a base layer cryptocurrency and operates as the base unit of currency for the Build ‘N’ Build Chain...

The fall of Sam Bankman-Fried’s $32 billion crypto empire highlighted the importance of self-custody for users. In fact, investors have already hopped on the trend of holding their assets themselves rather than entrusting their hard-earned money to a third-party platform. According to the latest data compiled by crypto analytic company, Santiment, Bitcoin’s supply on centralized crypto exchanges has dropped from 11.85% to 6.65% over the past year. 📉 The overall supply of...

Mamoru Yanase – Deputy Director-General of Japan’s Financial Services Agency (FSA) – urged global watchdogs to impose tougher regulations on the cryptocurrency industry. He believes digital asset exchanges should be treated the same way as banks. It’s All Because of FTX According to Yanase, one way to prevent another collapse of a cryptocurrency platform is if regulators treat such entities as traditional financial institutions. The Japanese referred to the demise of FTX,...

According to CoinFLEX leadership, “there has been media speculation” on the subject of the new exchange they are building, tentatively named GTX. As previously reported by CryptoPotato, the tentative exchange would specialize in crypto bankruptcy cases. Management Team Staying Onboard After lambasting the “speculation” on the subject of the leaked GTX pitch decks – speculation that allegedly took place because CoinFLEX leadership did not want to share an update “due to...