Forbes: FTX has business dealings with more than 53 institutions
November 11th news, FTX provided Forbes with a list of companies with business dealings with it to it at the end of August, including more than 53 audit institutions, banks and insurance companies. Including Sullivan & Cromwell LLP, Sta International Law Firm (Skadden), payment processor Stripe, payment platform Plaid, AWS, one of the four major accounting firms , and Silvergate Bank, a crypto-friendly bank. When asked whether it was involved in recent FTX incidents, most of the above-mentioned institutions either refused to be exposed or commented on this. FTX has more than 1 million users, accounting for about 1% of the active customer base of Coinbase. However, FTX is mainly based on institutional accounts, with an average customer funding scale of more than US$640,000, while the average customer funding scale of retail trading platforms is about US$3,000-5,000.
Japan Financial Services Agency has ordered FTX Japan to suspend operations
November 10th news, according to the official announcement released on Thursday, the Japan Financial Services Agency has ordered FTX Japan to suspend operations. Regulators hope that FTX Japan will immediately stop trading crypto assets and stop accepting new customers by December 9, 2022. Regulators say they are uncertain about the health of FTX Japan, which also needs to submit a "Written Business Improvement Plan" by November 16, 2022 to resolve the above issues.
US lawmakers: Investigation on the SEC Chairman helped SBF and FTX
US Congressman Tom Emmer tweeted, "The report received by my office said that SEC Chairman Gary Gensler is helping SBF and FTX to drill for legal loopholes to gain regulatory monopoly. We are investigating this matter." Previously, yesterday's news, Gensler said the FTX crash is part of a broader trend in crypto assets, and pointed out issues such as leverage, lack of disclosure, opacity, misappropriation of other people's funds and future transactions. It also stated that the SBF's role in promoting the Consumer Protection Act of Digital Goods undermines the authority of the SEC.
FTX Charity Fund FTX Future Fund team resigned collectively
November 11th news, the FTX Charity Fund FTX Future Fund team issued an open letter saying that the team had resigned collectively this morning, saying that the FTX Future Fund may not be able to fulfill many promised grants. In March 2022, FTX launched its first charitable fund, FTX Future Fund, which plans to allocate at least $100 million this year and deploy up to $1 billion.
People familiar with the matter: If there is no new capital injection, FTX will file for bankruptcy
Bloomberg News quoted a person familiar with the matter as saying that FTX founder and CEO Sam Bankman-Fried told investors that if there is no cash injection, the company will need to file for bankruptcy. Before Binance announced that it would give up its acquisition of rival exchanges, SBF had told investors that Binance faced a funding gap of up to $8 billion. FTX attempts to raise funds in bond , stocks or a combination of both.
Data: Bitcoin network settlement transfer volume fell to US$3 billion per day, a decrease of 77%
According to the latest report data of blockchain analysis company Glassnode, Bitcoin network settlement transfer volume has fallen from the peak of US$13 billion per day during the dome from January to May 2021 to the cycle low of US$3 billion per day, a decrease of 77%. Since the sell-off in May 2021, the existence of "young Bitcoin", which is usually synonymous with retail investors, has weakened, with trading from $0 to $10,000 down from $430 billion a day in January 2021 to the current $220 billion a day per day, down -49%.
Tether released quarterly reserve report: comprehensive assets exceed comprehensive liabilities
ThETHer announced the latest quarterly forensic opinions completed by independent public accounting firm BDO. As of September 30, 2022, Tether's total comprehensive assets were at least US$68,061,618,458, and the total comprehensive liabilities were US$67,811,510,720 (of which US$67,805,112,981 is related to the issuance of digital tokens), and the comprehensive assets exceed its comprehensive liabilities.
The U.S. Department of Justice and regulators contacted B An on FTX negotiations
According to a person familiar with the matter, U.S. authorities, including the Department of Justice, have contacted cryptocurrency exchange B An on cryptocurrency exchange. Requested information on its recent interaction with FTX in the two companies' negotiations on potential rescue. Binance received letters from U.S. financial regulators and European regulators asking for information on what BANK executives learned about the internal operations of FTX this week, the person familiar with the matter said.
Foreign media: The negotiations for FTX's acquisition of the Korean crypto exchange Bithumb may have collapsed
More industry insiders revealed that the negotiations for FTX's acquisition of the Korean crypto exchange Bithumb may have collapsed. In August this year, Bithumb's major shareholder Vidente said in an announcement released in response to KOSDAQ inquiries that FTX has indeed contacted Bithumb Korea and Bithumb Holdings about the disposal of equity , but did not determine the specific content. The re-public announcement period is on the 24th of this month, but Vidente said it could not confirm this.
FTX and TRON have reached an agreement to allow users to exchange TRX, BTT, JST, SUN and HT 1:1 to external wallets
In the early morning of November 11, FTX issued an announcement announcing that it has reached an agreement with TRON to establish a special credit limit to allow users to exchange TRX, BTT, JST, SUN and HT assets 1:1 to external wallets. This feature will be officially launched on November 10, 2022 at 18:30 (UTC). FTX will determine the platform's weekly exchangeable amount based on user withdrawal needs and the funds available to TRON, and the future injection time will occur at 14:00 (UTC). Huobi Global later issued an announcement stating that it will cooperate with industry institutions such as Tron Dao and FTX to provide the best custody and trading services for Tron Dao and HT held by FTX users in accordance with the principle of assisting customers in the migration of assets to the greatest extent and trying to stabilize the industry order.
Twitter officially launched the "Blue V Certification" payment system, charging $8 per month
November 6th news, it is reported that Twitter officially launched a new subscription service on the 5th, charging $8 per month to provide users with a blue certification mark ("Blue V") and also launched an updated version in the Apple App Store App Store. In an update note for Apple’s iOS devices, Twitter said that “Register Now” users can spend $7.99 per month to add the popular “Blue V Certification” next to their username. According to iOS update notifications, other benefits of the subscription plan include halving ad volume, uploading longer videos, and arranging tweets based on content quality. It is reported that this new service is currently only available to users in the United States, Canada, Australia, New Zealand and the United Kingdom.
Musk: Twitter may have "billions of net negative cash flow "
Musk warned at the Twitter product team employee meeting that the company may have "billions of net negative cash flow" in 2023, and Twitter may even go bankrupt if it cannot increase revenue accordingly. He said the company could not afford such huge losses. To make Twitter more attractive, you need to add video content. In addition, Musk said that from now on, all employees must work at least 40 hours a week in the office.
Aptos and Google Cloud cooperation plan to launch the accelerator project
Golden Finance reported that public chain project Aptos announced a cooperation with Google Cloud, and Google Cloud will provide support for some of its verification nodes and other services. The Aptos blockchain will also be indexed and added to the BigQuery service of Google Cloud. Additionally, Google and the Aptos Foundation will launch the accelerator program and jointly host a hackathon next year.
LUNC has been destroyed more than 26 billion pieces, and B An provides the largest support
Golden Finance reported that since the Terra network crash, the LUNA Classic (LUNC) community has been trying to destroy its native token LUNC in the past few months. As of now, about 26.3 billion pieces of LUNC have been destroyed, of which Binance has provided the largest support. The exchange has currently destroyed more than $3 million worth of LUNC.However, the total destruction accounted for only 0.38% of the total LUNC supply, so the impact on price is not as large as expected, because the digital assets with previous supply of hundreds of millions of coins have now become trillions of coins circulating in the market. At the time of writing, LUNA Classic is trading at $0.00023 with a market cap of $1.55 billion, ranking 37th, ahead of its successor Terra LUNA, which has a market cap of $304 million.
B An: Currently, it has 475,000 BTC, 4 million ETH and 58 million BNB
B An official statement stated that as part of Binance's continued commitment to industry transparency, it will share detailed information about its hot wallet address and cold wallet address. Merkel Tree Reserve Certificate will be released in the coming weeks. As of 8:00 a.m. on November 10, 2022, snapshot results of BTC, ETH, BSC, BNB and TRX networks show that Binance currently has a total of 475,000 BTC, 4 million ETH, 17.6 billion USDT, 21.7 billion BUSD, 601 million USDC, and 58 million BNB.
EU legislators voted to strengthen cyber protection against cryptocurrencies and other finances
EU legislators voted 612 to 18 on Thursday to enforce strict cybersecurity rules for cryptocurrency providers and other financial companies. EU Commission introduced the bill in 2020 because of concerns that banks will outsource data to a few major, unregulated cloud computing companies, but its impact on the crypto industry that is subject to cyber attacks and other attacks remains controversial. EU Commissioner Mairead McGuinness said in a debate on the law on Wednesday night that the Digital Operations Resilience Act (Dora) is the cornerstone of our work on EU digital finance , ensuring we support innovation and do it in a safe way. Protecting financial systems from cyber attacks and cyber fraud is crucial.
CZ: B An has never used BNB as collateral, nor has he ever assumed debts
November 9th news, CZ said on its social platform that two lessons can be learned from this FTX incident: 1. Don’t use the token you created yourself as collateral. 2. If you run a cryptocurrency business, please do not borrow. Do not use capital effectively. A large amount of reserves must be guaranteed. In addition, Binance has never used BNB as collateral and has never assumed debts.
Russian Bank recommends regulating NFT, smart contracts
Russia's chief financial regulator said in a new consulting report released on Monday that Russia can formulate more detailed tax rules for digital securities and practical tokens, but there is already enough regulatory environment to create a legal digital asset market. The document recommends developing more detailed rules to solve the tax issues of digital securities and practical tokens, as well as a legal framework for tokenization of securities , debt, precious metals and gemstones, and issuing NFTs that prove property rights. Bank of Russia also recommends incorporating digital asset trading into traditional stock market infrastructure. The Russian Bank hopes to receive comments on the report by December 7.
Japanese Web3 lawmakers called for further relaxation of encryption regulation
Japanese ruling party Ludinal Democratic Party MP and head of the Web3 project team Masaaki Taiwan said in an interview with Bloomberg that Japan needs to further relax the rules of the crypto industry. At the call of Taiwan, the Japan Virtual and Crypto Asset Exchange Association, the agency that oversees local crypto exchanges, is planning to simplify the lengthy screening process for the listing of exchange crypto tokens. It is reported that Japan has previously strengthened supervision of the country's cryptocurrency industry, requiring the Financial Services Administration (FSA) to review and register cryptocurrency trading platforms and impose a tax of up to 55% on cryptocurrency income.
Argentina Neobank Uala launches cryptocurrency trading service
Argentina bank backed by George Soros Neobank Uala has launched cryptocurrency trading service for its users in Argentina. The most loyal corporate customers can now trade, buy and sell Bitcoin and Ether through Uala's platform. The service is expected to expand to all customers in the coming weeks.
The above news is compiled by Bosen Technology and does not constitute investment advice. If you want to know more investment information, please follow "Bosen Technology Quantification"!
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