Binance Enables Institutions to Trade Using Cold Storage Assets
- The new product from Binance Custody will allow institutional clients to trade in the Binance ecosystem using assets from their cold-storage accounts.
- Called Binance Mirror, the off-exchange settlement solution has already attracted the attention of institutional investors, accounting for more than 60% of all assets secured on Binance Custody.
Binance CEO Changpeng Zhao. CoinDesk
North Korean Hackers Move 41,000 ETH Stolen From Harmony
- North Korea’s Lazarus Group has moved around $63.5 million of crypto assets connected to the Harmony bridge hack over the weekend.
- The hackers tried to move a portion of the funds through Binance and Huobi, but the exchanges were able to freeze their account and recover around 124 BTC.
SEC Charges Genesis and Gemini With Selling Unregistered Securities, Winklevoss Fires Back
- The U.S. SEC alleged that Genesis and Gemini sold unregistered securities to retail investors through the exchange’s Earn program.
- Gemini co-founder Tyler Winklevoss fired back at the charges, calling the SEC’s actions “counterproductive” and optimized for “political points”.
Genesis Reportedly Owes Over $3B to Creditors
- People familiar with the matter have said that Genesis had hired investment bank Moelis to explore its options to cover the shortfall, but there was little capital infusion interest.
- The sources further said that Genesis’ parent company, Digital Currency Group, was now looking to sell a portion of its venture capital portfolio to fill in the shortfall.
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Authorities Reportedly Raid Nexo’s Bulgarian Offices
- The probe into Nexo’s activities in Bulgaria was launched several months ago, after international services detected suspicious transactions aimed at circumventing Russian sanctions.
- Reports suggest that Nexo is also being investigated for allegedly committing major financial crimes, and participating in money laundering activities.
Judge Gives Initial Approval for Binance.US to Acquire Voyager’s Assets
- Bankrupt crypto lender Voyager Digital has received an initial approval from the bankruptcy court to sell its assets to Binance.US for a little over $1 billion.
- The deal, however, still requires approval from a majority of Voyager’s creditors, and is subject to another confirmation hearing scheduled for March.
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Coinbase to Lay Off Another 20% of its Workforce
- The San Francisco-based crypto exchange is planning to reduce its headcount by 950 employees, and shut down some projects with “lower probability of success”.
- The move was part of its restructuring plan meant to reduce its operational costs by 25% by the end of the second quarter of 2023.
Coinbase CEO Brian Armstrong at Vanity Fair’s New Establishment Summit, October 2019.Vanity Fair
CFTC Files Market Manipulation Lawsuit Against Mango Markets Exploiter
- The CFTC has filed a lawsuit against Avraham Eisenberg, and charged him with two counts of market manipulation for his involvement in the Mango Market exploit.
- The individual had revealed himself as the exploiter on 15 October, claiming his actions were legal, and was later arrested by the DoJ on similar charges.
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DoJ Seizes 55M Robinhood Shares Connected to Sam Bankman-Fried
- The U.S. Department of Justice has seized close to $470 million in Robinhood stock, and an additional $20 million in U.S. currency, as part of its criminal case against Sam Bankman-Fried.
- Lawyers for SBF argued last week that the Robinhood shares were bought legitimately by SBF, using money borrowed from Alameda, and that he was relying on them to fund his defense.
Former CEO of FTX Sam Bankman-Fried leaves the Federal Court in New York after pleading not guilty, 3 January, 2022.
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Authorities Reportedly Raid Nexo’s Bulgarian Offices
- The company noted that it will continue to operate, and that the 90% withdrawal limit will help it better navigate the prolonged bear market.
- Wyre CEO Yanni Giannaros has transitioned into a new role as executive chairman, while its CRO and CCO, Stephen Cheng, is taking the role of interim CEO.
Sam Bankman-Fried Tries to Keep Ownership of $450M in Robinhood Shares
- Lawyers for SBF are seeking to block debtors from taking control over $450 million in Robinhood shares, arguing that SBF was relying on his stake to fund his criminal defense.
- Another argument was that SBF had legitimately bought the shares using money borrowed from Alameda Research, one of the few loans that was well documented in the company.
Sam Bankman-Fried, former CEO of FTX, speaking at the Binance Blockchain Week, Singapore, 19 January, 2019. Binance
Editors' Picks
The Rise & Fall of FTX: a Brief Summary
- While FTX was once considered the second largest crypto exchange after Binance, it only took ten days for its empire to collapse.
- The unlimited line of credit Alameda Research had, and the commingling of corporate and customer funds, all played a role in the downfall of the exchange.
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Caroline Ellison and Gary Wang Hit With Fraud Charges by CFTC and SEC, Plead Guilty to SDNY Charges
- Former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty for their involvement in FTX defrauding customers and investors.
- Ellison has entered into a plea agreement with the SDNY, which will not prosecute her for most of her crimes if she cooperates with their investigation into SBF and FTX.
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FTX Requests Return of Donations, SBF Agrees to Extradition
- Bankrupt crypto exchange FTX has requested that recipients of donations made by its executives voluntarily return the funds, otherwise it could seek legal actions.
- Former CEO Sam Bankman-Fried has reportedly changed his mind, and voluntarily agreed to be extradited to the U.S. to face his numerous fraud charges.
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Guides
4 Common Password Misconceptions
- Passwords have become a part of our daily life, protecting our most sensitive data, and we have to make sure they are as secure as possible.
- There are many ways a password can become compromised, as such it remains important that we become aware of some of the most common password myths.
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How to Find The Best DeFi Pools For Your Assets
- Investment opportunities in defi are innumerous, but finding the best hasn’t been an easy task thus far.
- Yield Samurai is a decentralized finance data aggregator that helps investors find the highest-yielding pools in a few clicks.
How to Explore Historical DeFi Data
- Yield Samurai is a decentralized finance historical data aggregator.
- It allows people to explore pool prospects on different platforms and apps to find the best place to earn interest on cryptoassets.
Impermanent Loss Explained With Examples & Math
- Learn what impermanent loss is, how it manifests, and how to calculate it.
- We use several examples and formulae for both standard and complex AMM-based pools to examine, explain, and plot impermanent loss.
How to Leverage Yield Farming on Alpha Homora – The Simple Guide
- Learn how Alpha Homora works, how to open a leveraged position and earn more with the same amount of assets, and how to manage your positions.
- We also explain how to choose a pool to leverage, the rules of leveraging on the platform, and how to calculate possible scenarios.
