M Group Handles FTX’s SkyBridge Deal
A source has shared that FTX and Sam use M Group SC as their PR agency. They share that M Group has previously worked closely with Andrew Sorkin and the NYT to publish articles for PR purposes. They believe that this may explain the recent softer articles.
Apple Seeks Film Rights to Bankman-Fried Story: Report
Apple is in talks with author and financial journalist, Michael Lewis, to acquire his as-yet-unpublished book about FTX founder Sam Bankman-Fried. Lewis is the author behind The Big Short, Moneyball and The Blind Side, and had been embedded with Bankman-Fried for the past six months before the dramatic collapse of FTX. The tech giant is “near to a deal” with Lewis, according to Deadline, which first reported the news, citing unnamed sources. (Blockworks)
Japan Kicks Off Central Bank Digital Currency Experiment
Japan’s central bank has started planning a central bank digital currency (CBDC) experiment with the country’s major financial players, according to a major newspaper report today. The Bank of Japan is working with three megabanks as well as regional banks in the Asian nation—and next year will trial a digital yen, Nikkei reported Wednesday. If all goes according to plan, the newspaper added, the BOJ may go ahead and release a CBDC in 2026. (Decrypt)
Bitcoin, Ethereum and Dogecoin Jump on Release of Fed Minutes
Bitcoin jumped slightly on the release of the Federal Reserve’s minutes from its November meeting, the captured discussion suggesting that the central bank may make smaller interest rate increases going forward. The stock market similarly ticked up as traders digested the news. Trader Ryan Scott told <i>Decrypt</i> the uptick was expected. “It seems like this is in line with market expectations. Short term traders aggressively positioned behind the release driving both crypto and equity index futures briefly,” he said. (Decrypt)
Ripple CTO Says One Important Lesson From FTX Meltdown 'Will Not Be Learned'
A Ripple executive says there is one important lesson from the meltdown of crypto exchange FTX that he “can say with total confidence will not be learned.” The executive added: “Regulation that punishes after the fact won’t catch it. Investor due diligence won’t either.” (Bitcoin.com)
South Korea To Change Its Legal Framework To Better Control Crypto Projects
According to local media outlet News 1, Chang-Hyun is proposing to grant more authority to the country’s Financial Services Commission and Financial Supervisory Service “in lieu of self-regulation” of cryptocurrency exchanges. “Rep. Yoon Chang-Hyun of the People Power Party plans to propose a revision of the secure digital asset transactions bill at the first legislative review subcommittee of the National Assembly’s Political Affairs Committee held on the same day.” (cryptopotato)
Crypto has Survived Worse Than the Fall of FTX: Chainalysis
In a Nov. 23 Twitter thread, Chainalysis’ research lead Eric Jardine began his comparison by first looking at the market share of the two firms, finding that Mt. Gox averaged 46% of all exchange inflows in the year leading up to its collapse in 2014, compared to FTX’s average of 13%, which operated from 2019 to 2022. (Cointelegraph.)
Block Earner CEO Calls for Licensing Clarity After Being Sued for Crypto Products
The CEO of fintech firm Block Earner has lashed out over the “lack of clarity” in Australia’s financial licensing regime after his company was sued by the country’s financial services regulator for providing unlicensed crypto-based investment products. The Australian Securities and Investment Commission (ASIC) announced on Nov. 23 local time that it started civil legal proceedings against the company because it offered three crypto-linked fixed-yield earning products without an Australian Financial Services (AFS) license. (Cointelegraph)
Alameda-Backed Crypto Trading Firm 3Commas Says It's Pretty Sure It Wasn't Breached
Over a dozen users of the crypto trading service 3Commas, which was backed by Sam Bankman-Fried’s Alameda Research, say the platform leaked their credentials and enabled attackers to run away with over $6 million in user funds.
Crypto's Future Will Be Based on Self-Custody and Regulation, Says Kraken's COO
Kraken’s chief operating officer said crypto’s future will be based on self-custody and clear regulatory standards. Dave Ripley, currently the crypto exchange’s COO and named to replace CEO Jesse Powell when he steps down, told CoinDesk TV’s “First Mover” that Kraken is a supporter of self-custody.
