Doge Creator Warns Against Giving FTX a Second Chance to Commit 'Enormous Massive Fraud'
Billy Markus, the founder of meme cryptocurrency Dogecoin (<a href="https://finbold.com/cryptocurrency/dogecoin/">DOGE</a>), has warned that raising money to rescue FTX will give room for Bankman-Fried to ‘commit enormous fraud again,’ he <a href="https://twitter.com/BillyM2k/status/1592764273742471172" target="_blank">said</a> in a tweet on November 16.
FTX Hacker Becomes the 34th Largest ETH Holder, Now Holds 235K Eth
The hacker behind the FTX accounts with ten different accounts identified kept the stolen assets on the move, making multiple swaps across several protocols. Following the multiple swaps, the account currently has balances in several assets, including 74K BNB ($20M), 1.68M DAI, and 235K ETH ($209M). Its ETH balance makes it the 34th largest holder of Ethereum.
Temasek Prepares to Write Off as Much as $300M Invested in FTX
Temasek invested in both the FTX mothership and its U.S. wing in concurrent funding rounds of $400 million each in January of this year. The investment fund is now prepared to write off the entire amount of its investments, according to the report, which cited people familiar with the matter.
Genesis Global Trading’s Lending Unit Suspends Withdrawals and New Loan Originations
According to a new <a href="https://twitter.com/GenesisTrading?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" target="_blank">tweet</a> by Genesis Global on Nov. 16, the institutional crypto lender says it will "temporarily suspend redemptions and new loan originations in the lending business." In explaining the decision, the firm cited "unprecedented market turmoil" related to the collapse of troubled cryptocurrency exchange FTX, resulting in "abnormal" levels of withdrawals that Genesis Global claims to exceed its current liquidity.
Grayscale and Binance Confirm Not Affected by Genesis Decision to Halt Withdrawals
Grayscale has assured clients of the safety and security of their funds amid the panic triggered by the FTX implosion and redemption suspension of a subsidiary of one of its affiliate firms, Genesis Global Capital.
Former SEC Official Doubts FTX Crash Will Prompt Congress to Act On Crypto Regulations
The collapse of FTX may spur more calls for regulation on Capitol Hill, Lisa Braganca, a former enforcement branch chief at the U.S. Securities and Exchange Commission, said, but she is doubtful about whether Congress will act.
U.S. Crypto Investors Sue FTX's Sam Bankman-Fried and Company's Celebrity Endorsers
Crypto investors in the U.S. have filed a class-action suit accusing FTX CEO Sam Bankman-Fried and the company’s host of paid celebrity promoters, including NFL quarterback Tom Brady, comedian Larry David, tennis player Naomi Osaka and NBA team the Golden State Warriors, with fraudulently promoting FTX yield-bearing account (YBAs).
TSM Drops FTX Logos, Halts $210 Million Sponsorship Deal
What was at one time the largest deal in the esports industry has been dashed as TSM will pull the plug on a partnership with FTX, the gaming and entertainment platform <a href="https://twitter.com/TSM/status/1592895131514200064?s=20&t=wG4h15YhYbk7sbpwLZ_qxw">announced</a>.
Singapore’s Temasek to Write Down Over $200 Million in FTX
Singapore’s state-owned investor, Temasek International, invested between $200 million and $300 million into cryptocurrency firm FTX before its implosion, according to people familiar with the matter.
Matter Labs Nets $200M to Build zkSync Ethereum Scaling Platform
Ethereum development firm Matter Labs has raised a monster $200 million to support the launch of its zkSync V2 rollup network, one of the major platforms vying for dominance in a crowded competition to reduce Ethereum’s fees and increase its transaction speeds.
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