XDAO Closes $2.3 Million Seed Round
On November 26th, XDAO announced that it had raised a $2.3 million seed round. XDAO is a Singapore-based firm that develops and manages tools for creating Decentralized Autonomous Organizations (DAOs).
JP Morgan Believes Regulation Will Lead to Convergence of Crypto, TradFi
Wallstreet banking giant JP Morgan & Chase believes there are significant changes coming to the crypto industry in 2023 in the form of regulation, which will likely cause a convergence between crypto and the traditional financial industry, according to its latest Global Markets Strategy report.
Aave Pauses Lending Markets for 17 Ethereum-Based Tokens
Decentralized lending protocol Aave has temporarily frozen lending markets for 17 tokens in an effort to protect itself from taking on bad debt due to future market manipulation attacks.
Genesis Global Capital Under Scrutiny By US State Regulators
Crypto trading firm Genesis, a renowned crypto lender and lists among the top lenders in the world, is reportedly under the lens of regulators in the state of Alabama and other U.S. states. The state securities department is undertaking a careful look at aspects which also concern the “interconnectedness of crypto firms.”
Coinbase Strengthens European Arm With New Hires
Crypto exchange Coinbase is reinforcing its European senior positions with a series of new hires and promotions, Bloomberg reports.
FTX’s Demise Part 4: Bankruptcy Experts Weigh In on Next Steps for FTX
In the fourth installment of The Scoop’s continued coverage of FTX's demise, host Frank Chaparro examines the legal underpinnings of FTX’s bankruptcy and restructuring process with Dan Besikof, a partner at the law firm Loeb & Loeb, and Mark Shapiro, Chair of the Financial Restructuring Group and a partner at the law firm of Shearman & Sterling. In 2008, Shapiro served as the Head of Restructuring for Lehman Brothers, where he guided the sale of the firm's U.S. assets in chapter 11.
Binance CEO Warns Users to Be Vigilant as Dark Web Hackers Auction Off 500 Million Whatsapp Numbers
Binance CEO Changpeng Zhao has warned users of an upcoming wave of phishing scams as hackers are selling up-to-date mobile phone numbers of nearly 500 million WhatsApp users.
Another $2B Worth of Bitcoin Withdrawn From Coinbase Over Weekend
Coinbase experienced withdrawals totaling roughly $2 billion worth of BTC over the weekend of Nov. 26 to Nov. 27, bringing the total amount withdrawn since Nov. 24 to $3.5 billion.
UK Crypto Fraud Climbs by a Third to Over $270M: Report
Cryptocurrency fraud in the U.K. rose by 32% to 226 million pound ($273 million) in one year, according to data from the U.K. police unit Action Fraud, reported by the Financial Times on Monday.
Report: Nigerian Crypto Exchange Quidax Cuts Its Workforce by 20%
As it reels from the effects of what it termed a global economic downturn, the Nigerian digital asset exchange platform, Quidax, recently said it had laid off employees who constituted 20% of its workforce. Despite the layoffs, Quidax reportedly told its customers it is ‘not going anywhere, anytime soon.”
