cryptocurrency

The failure of the FTX platform has undermined investor confidence and threatened the young cryptocurrency sector, pushing its main players to mobilise to save it. The failure of the FTX platform has undermined investor confidence and threatened the young cryptocurrency sector, pushing its main players to mobilise to save it.The boss of the largest cryptocurrency exchange platform, Binance, did everything to reassure investors on Tuesday. "The projects that survive this difficult time will be much stronger later on,"…

Collapsed crypto exchange FTX outlined a "severe liquidity crisis" in U.S. bankruptcy filings. Collapsed crypto exchange FTX outlined a "severe liquidity crisis" in U.S. bankruptcy filings, which said the group could have more than 1 million creditors, as regulators opened probes and the crypto pain spread with the Wall Street Journal reporting BlockFi was planning layoffs and a possible bankruptcy filing.FTX's late Monday filing to a U.S. bankruptcy court said it was in contact with dozens of global regulators and had…

The esports giant TSM FTX is suspending its blockbuster sponsorship deal with the collapsed cryptocurrency exchange and is dropping FTX from its name. “After monitoring the evolving situation and discussing internally, we’re suspending our partnership with FTX effective immediately,” TSM wrote on Twitter on Wednesday. “This means that FTX branding will no longer appear on any of our org, team and player social media profiles, and will also be removed from our player jerseys.” Despite the change, TSM maintains that it will…

The meltdown of Sam Bankman-Fried’s digital assets empire FTX is a “Lehman Shock” to the industry, said the co-founder of bitFlyer Inc. The meltdown of Sam Bankman-Fried's digital assets empire FTX is a “Lehman Shock” to the industry, potentially causing more crypto firms to fail, said the co-founder of major Japanese crypto exchange bitFlyer Inc.“It's a huge impact,” Yuzo Kano said in an interview with Shery Ahn and Haidi Stroud-Watts on Bloomberg Television at the New Economy Forum, adding that the turmoil may push…

The hacker who raided Sam Bankman-Fried’s collapsed crypto exchange FTX is now one of the world’s biggest holders of the token Ether. The hacker who raided Sam Bankman-Fried's collapsed crypto exchange FTX is now one of the world's biggest holders of the token Ether.A wallet linked with the exploit swapped about $49 million of stablecoins -- mainly Dai -- for Ether on Tuesday, security specialists PeckShield said.  That lifts the attacker's Ether haul to 228,523 or about $288 million -- the 35th largest stash of the…

"The dark web brings together professional hackers and those terrorists seeking to crowdsource or transfer funds. India will raise major issues like lack of universal consensus on laws regarding cybercrimes; weak control mechanisms of social media platforms and their misuse by terrorist and extremist groups, the dark web and crypto-currency in the upcoming international 'No Money For Terror' Ministerial Conference this week, top government sources said.Crowdfunding; anonymous, decentralised and untraceable nature of…

So, are you on Mastodon yet? If you’re looking for advice on how to join and find your friends, we’ve got you covered. If you’re trying to decide when and whether to migrate, what factors are you weighing? Let me know in the comments below.The Wages of Hubris Are … ?Tech news hasn’t had a week like last week since—maybe?—the 2000 dotcom crash. FTX, the world’s second-biggest crypto exchange, went from $32 billion to bankrupt in about three days, and hackers took advantage of the chaos to steal hundreds of millions of…

Cryptocurrencies pushed higher on Tuesday as investors awaited more details about an industry recovery fund promised by Binance Holdings. Cryptocurrencies pushed higher on Tuesday as investors awaited more details about an industry recovery fund promised by Binance Holdings Ltd.'s Chief Executive Officer Changpeng ‘CZ' Zhao.Bitcoin, the largest token, climbed toward $17,000 with a gain of about 2%, while second-ranked Ether added a similar percentage as of 1:20 p.m. in Hong Kong. The moves provided some respite from a…

Tuvalu said on Tuesday it plans to build a digital version of itself, replicating islands and landmarks and preserving its history and culture as rising sea levels threaten to submerge the tiny Pacific island nation.Tuvalu's Foreign Minister Simon Kofe told the COP27 climate summit it was time to look at alternative solutions for his country's survival and this included Tuvalu becoming the first digitised nation in the metaverse - an online realm that uses augmented and virtual reality (VR) to help users interact."Our…

Sam Bankman-Fried, CEO and Founder of FTX, walks near the U.S. Capitol, in Washington, D.C., on September 15, 2022.Photo: Graeme Sloan/Sipa USA (AP)FTX filed for bankruptcy on Friday, leaving reasonable people to wonder how a cryptocurrency platform founded in 2019, which reached a valuation of $32 billion in 2021, could plummet to zero in such a short time. There’s a new piece in the New York Times which gained exclusive access to FTX founder Sam Bankman-Fried, but if you’re looking for answers, you’re not going to find…