A leaked 75-minute recording obtained by CoinTelegraph captured the tense moment Caroline Ellison informed Alameda Research staff that FTX user funds were improperly lent to the trading firm. In a November 9, 2022, staff meeting after FTX halted withdrawals, Ellison admitted Alameda had borrowed heavily from FTX to cover its investing activities. This led to […]
A CFTC commissioner sharply criticized Voyager Digital for “bare-bones” due diligence that led to billions in customer losses before its bankruptcy. Commissioner Kristin Johnson said Voyager ignored obvious warning signs and failed to exert oversight on how subsidiary firms handled client funds. Johnson likened Voyager to a house of cards for shirking custodial responsibilities and […]
Zhou Xiaochuan, ex-governor of the People’s Bank of China (PBOC), advised developers of the nation’s central bank digital currency to prioritize security, cost-efficiency, and preventing illicit use. In remarks at a Beijing forum, Zhou said security is especially crucial in finance and currency systems. He warned that as technology improves convenience, it can also enable […]
Japanese financial group DeCurret Holdings published details this week regarding its upcoming DCJPY digital currency project. Slated for launch in 2024, the initiative looks to introduce a new privately-issued crypto asset. According to DeCurret’s white paper, DCJPY will be backed 1:1 by bank deposits in Japanese yen. The network will consist of a financial zone […]
Bricks (BRICK), the native token associated with Reddit’s r/Fortnite community, has surged over 110% in the past 24 hours, according to market data. The rally comes amid another broader downturn in the cryptocurrency markets. Trading volume for BRICK spiked to around $750,000 across exchanges, an 800% increase compared to recent activity. The price shot up […]
According to former engineer Aditya Baradwaj, crypto hedge fund Alameda Research lost at least $190 million in arguably preventable exploits due to lax security practices. In a recent tweet thread, Baradwaj said Alameda’s “breathtaking” agility led to major security lapses every few months on average. He cited an incident where a trader lost over $100 […]
JPMorgan has implemented its first live collateral settlement using its private blockchain network Onyx, in collaboration with BlackRock and Barclays. The transaction saw BlackRock tokenize money market fund shares, which were then transferred as collateral for a derivatives contract. By leveraging blockchain for settlement, JPMorgan states the process was near instantaneous compared to the typical […]
A UK parliamentary committee has called for greater protections around NFTs and prohibited sports teams from issuing “fan” tokens. In a new report, the bipartisan group warned about copyright risks from the speed of NFT minting versus enforcing creator rights. It advised the government to work with marketplaces on a code of conduct against infringing […]
A CrypToadz NFT worth under $1,000 was shockingly purchased for 1,055 ETH ($1.6 million) on OpenSea last week. The sale sparked money-laundering speculation, given the massive price spike. Just two weeks prior, the same NFT from the popular collection sold for only 0.95 ETH ($1,600). The new buyer instantly flipped it for over 1000x the […]
The Hong Kong Police Force has issued a warning after 11 Hong Kong-based Binance customers fell victim to a series of phishing scams delivered via text messages. This recent wave of cyberattacks has raised concerns about the security of cryptocurrency assets and the need for heightened vigilance among crypto investors. In a public advisory shared […]