EXCHANGES
Russia will build a crypto exchange
Russian politicians are amending cryptocurrency laws. Finance Ministry and Central Bank of Russia apparently back the endeavor. Russian currency restrictions and laws wouldn't apply, but transactions would be reported to the tax department.
OKX publishes proof-of-reserves website with self-audit instructions
Users may audit the exchange's reserves using the proof-of-reserves website. Unless the user has taken out margin loans, these amounts should match the app's asset overview screen. Lennix Lai, OkX's director of financial markets, feels the website would increase market transparency.
Bitfinex, Ava Labs raise $10M for DeFi technology amid market turmoil
Onomy, a Cosmos-based ecosystem, raised millions for its innovative protocol. The project mixes decentralized finance and FX to put it on-chain. Industry forecasts predict another challenging year while keeping investors interested.
Decentralists criticize Uniswap's new privacy policy.
Some crypto community members say this violates decentralized ideals. The cryptocurrency's developers. Firo said Unisweap's privacy change is "dangerous precedent" for DEXs.
Genesis rejects bankruptcy plans
Genesis, a cryptocurrency loan startup, has denied reports that it is contemplating a "imminent" bankruptcy case. According to reports, the company had difficulty acquiring funds for its lending section and informed investors that it would have to declare bankruptcy. Genesis said on November 16 that withdrawals had been temporarily halted due to "unprecedented market turmoil" after FTX's demise.
FTX Affirms to 'Unauthorized Access’ to Some Assets, Working With Law Enforcement
After confirming the recent incident of unauthorized access" to its crypto holdings, citing a hack, FTX’s general counsel Ryne Miller took to his Twitter on Saturday to explain that the exchange is now working with law enforcement
FTX Enters Bankruptcy as Sam Bankman-Fried Steps Down as CEO
Troubled crypto exchange FTX filed for Chapter 11 bankruptcy protection in the U.S., with Sam Bankman-Fried resigning as the CEO.
Binance Publishes Details of Holdings in its Hot Wallet
Binance has posted a snapshot of its hot wallet reserve to lead the exchange's transparency push
Billions of Dollars Exit Exchanges as Investors Scuttle Towards Safety
Investors are withdrawing their funds from exchanges amid the FTX implosion
No Significant Risk Exposure to FTX or FTT, Says Coinbase CEO
Coinbase CEO Brian Armstrong tweeted that Coinbase has no significant exposure to FTX and its platform currency FTT, as well as Alameda's exposure.
