This is the email I have received this morning: We wanted to let you know of a data breach incident at Zendesk that included a limited amount of your personal data. First and foremost, your Kraken account is secure. The affected data relates to Kraken Support messages exchanged between October 8th and October 25th, 2022.…
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At the time of FTX’s collapse, about 950 users in Taiwan had a total of $150 million worth of digital assets stored or held at the crypto exchange, a law firm has reportedly said. FTX users in Taiwan were reportedly investing in interest-bearing digital assets using cheap funds borrowed from local banks. FTX’s Popularity With […]
Original WebLink from SBFLeaks was available here: https://sbfleaks.eth.limo/ Just a few hours ago this page had the below: SBF Leaks Not Enough Eyes on this. Vox "leaks" were a distraction from this video. More Eyes before the video can be Released. Updates Tomorrow on the SBF and Caroline Sex Tape Leak. As an FTX insider…
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First crypto winter for me, and I would like to hear from some Crypto vets whether they think this is as low as we will go or not. What are the signs you looked out for in previous winters? Were they based in reality or was it just glorified guess work? When this happened last…
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TRON, the native cryptocurrency of the blockchain network bearing the same name, continues to struggle as it fails to break free from its bearish momentum. According to tracking from Coingecko, the 16th largest cryptocurrency in terms of market capitalization is trading at $0.050 at the time of this writing. For the past seven days, the altcoin has dropped by almost 10% while over the last two weeks its value has declined by 20.2%. On a month-to-date gauge, the digital asset has dumped 17.8% of its spot trading price, painting its entire chart in crimson. However, while TRON remains unsuccessful in initiating a bullish run to reclaim higher trading session prices, its network is performing relatively well as the protocol was able to post impressive numbers last week. Related Reading: Bitcoin Cash On Downward Motion Since Breaching $105 Level – Here’s Why TRON Network Activity Remains Upbeat Amid FTX Crisis TRON DAO, the official Twitter account of the blockchain network shared some of the highlights of the protocol’s performance for the period of November 7 to November 13. At the conclusion of the specific timeframe, the total number of accounts associated to the blockchain reached 119,949,499 while the overall tally for transactions facilitated over it hit the 4.19 billion mark. TRON’s blockchain height surpassed the 45.83 million and its Total Value Locked (TVL) peaked at $12.3 billion. It is important to note that this impressive growth in both network activity and value happened during the same week when the crypto space was ravaged by the negative effects of the collapse of the FTX crypto exchange platform. Following Binance CEO Changpeng Zao’s decision to back out of initial plans to buy the exchange after the announcement of selling all of its FTT tokens, the crypto market was instantly painted in red as Bitcoin, Etheruem and the rest of the altcoins experienced severe price dumps. TRON Founder Gives His Take On The Future Of NFTs During a recent interview, Justin Sun, the founder of TRON, expressed his ideas about the current situation of the non-fungible token (NFT) industry. According to Sun, sadly, the current generation of NFT tokens doesn’t offer much in terms of utility and that this is something that needs to be addressed if this particular digital asset class hopes to grow exponentially in the near future. He emphasized his point by saying that during this important segment of Web3 development, these customizable tokens will be the focal point of many advancements and projects. For its part, TRON seems to be doing well in this department as its NFT ecosystem also managed to record an uptick in terms of trade count and trade volume. Related Reading: NEAR Faces Resistance In Attempt To Breach $2 Level As Bears Block Its Way TRONUSD trading at $0.05157304 on the weekend chart | Featured image from Coin Edition, Chart: TradingView.com
Attorney Martin Flumenbaum believed that Sam Bankman-Fried’s “incessant and disruptive tweeting” negatively impacted the reorganization efforts of the lawyers.
Spain, Portugal and Brazil national teams’ fan tokens are experiencing a price boom as the World Cup gets underway.
It’s time for NYDIG to chip in. The FTX fiasco is the theme of the month in the crypto world, and the show’s just beginning. The NYDIG research team avoids the temptation to summarize the whole saga and goes straight to the implications of the fall of Sam Bankman-Fried’s empire. “Some signs of contagion have appeared but a full accounting of the damage and regaining of investor confidence will likely take time,” they say understating the harsh reality. Related Reading: Allied Payment Partners NYDIG, Adds Bitcoin To Corporate Treasury Taking a page from NYDIG’s book, let’s skip the intro and go straight to the conclusions. Contagion Is Around The Corner Speaking about “signs of contagion,” NYDIG mentions BlockFi and the Genesis/ Gemini combo. However, there might be much more to come. “Several other service providers have piqued the curiosity of crypto sleuths as potential next dominoes, but we hesitate to speculate too much without hard evidence. Regardless, industry participants are on edge for even the slightest signs of stress and continue to pull balances off exchanges.” In the contagion section of the paper, we find a rare mention of a conspiracy theory that’s making the rounds in crypto twitter. Rarely do big players bring this up. Of course, NYDIG ends up doubling down on the thesis about Terra/Luna that they put out in a previous paper titled “On Impossible Things Before Breakfast.” “There have been accusations that Alameda caused the initial de-peg of UST, and while that may have been the case, uneconomic rates paid by the Anchor Protocol and insecure economic design of LUNA/UST ensured its ultimate destruction, destroying $60B worth of crypto wealth in a few short days.” In the previous paper, NYDIG printed a great segway to the next section. “DeFi is not decentralized. The Terra ecosystem was not decentralized. Terra initially sourced funding from LUNA token issuance apportioned to Terraform Labs at inception.” FTT price chart on Bitstamp | Source: FTT/USD on TradingView.com NYDIG On DeFi Vs. CeFi Even though they’re clearly not fans of DeFi, NYDIG gives them some credit. “Most DeFi protocols operated as advertised through the volatility this year, minus the ongoing hacks within the ecosystem.” True, but the ongoing hacks are not a minor factor. It’s a billion-dollar problem with no apparent solution available. However, according to NYDIG, this time the problem lies with centralized finance, and those companies “did the rest of the damage” by engaging in these behaviors: “Poor risk controls, conflicts of interest, excessive leverage, unclear accounting, counterparty risks, and poor management were just some of the factors at play. Furthermore, the use of an equity-like token, FTX Token (FTT), as collateral exacerbated the issue.” Is More Regulation The Answer? According to NYDIG, the industry was expecting “improved regulatory clarity for US investors.” However, thanks to the FTX crash and Sam Bankman-Fried’s political lobbying, “the path in DC has grown more complicated. Regulators will now be on their toes and increasingly more likely to use their current authority to enforce existing regulations and possibly issue new ones.” Related Reading: Bitcoin Holders Bracing For A Crypto Winter Bottom Should Check These Data It is what it is, however one has to take into account that “FTX.com wasn’t even a US entity, which raises the question of how impactful improved US regulations would have been, at least with respect to preventing the specific recent events surrounding FTX.” That’s true, but FTX was in business with several US fully regulated entities. If effective, shouldn’t Silvergate’s AML procedures have detected Sam Bankman-Fried’s shenanigans? A related question would be, shouldn’t the due diligence of the highly regarded entities that invested in FTX have detected that something was off? Featured Image by Kaleidico on Unsplash | Charts by TradingView
The United Kingdom Law Commission recently asked experts and users to participate in a ten-week exercise whose objective is to help the commission better understand how decentralized autonomous organizations (DAOs) operate. A blockchain expert says the commission’s call shows that the U.K. is “leading the way in thinking and developing the law and other institutions […]
Historical data around crypto crashes revealed that 14 crypto exchanges, together, were responsible for the loss of at least 1,195,000 BTC, representing 6.3% of the 19.2 Bitcoin currently in circulation.
