Binance. US to Submit Bid for Crypto Lender Voyager confirms Changpeng Zhao

Since the bankrupt crypto exchange FTX was unable to complete the acquisition of Voyager, Binance CEO Changpeng "CZ" Zhao has indicated that the exchange's American division will now make a fresh offer for the cryptocurrency lender. He said that given that FTX can no longer keep its promise, Binance.US will make another offer for Voyager. Following Voyager's bankruptcy, FTX emerged as the front-runner to purchase the lender. Binance's bid, it is reported, was resisted by the U.S. government out of worry about its potential impact on national security. Read details here

Hodlnaut is being investigated by Singaporean police for possible cheating and fraud

Hodlnaut, a struggling cryptocurrency lender, is being investigated by Singapore's Commercial Affairs Department (CAD) for "potential cheating and fraud," according to an official statement. The police were notified "several times" between August and November that Hodlnaut and its directors had misrepresented the lender's exposure to "a certain digital coin." The nameless token probably alludes to Terra's now-defunct USTC, also known as UST, an algorithmically pegged-to-the-dollar stablecoin that abruptly depegged in May. Hodlnaut's present liquidity issues are a result of the historic collapse of the Terra ecosystem, which caused numerous crypto lenders—including Celsius, Voyager, and Vauld—to go bankrupt. Take a look

Following a privacy policy update, Infura will collect users' IP addresses and Ethereum addresses

ConsenSys' well-known Infrura product users have been warned that new data collection is planned, prompting anger on social media. The Ethereum network, which serves as the foundation for several important Web3 projects including Aragon, Gnosis, OpenZeppelin, and ConsenSys's own flagship wallet service MetaMask, is accessible to users through the API-based utility Infura. After the New York-based blockchain company first bought Infrura in late 2019, the tool currently boasts about 350,000 developers and also offers support for additional blockchains like Polygon and Filecoin. Read more here

Binance plans to raise $1 Billion for a crypto recovery fund, may purchase FTX assets

The founder and CEO of Binance stated that the company's crypto rescue fund would begin with $1 billion to distribute as it assumes the position of the sector's white knight. Changpeng "CZ" Zhao stated in a Bloomberg interview that the fund will have a "loose" structure, be publicly accessible on the blockchain, and allow for contributions from other market participants. He stated that additional information would be provided in a blog post on the Binance platform and that the fund would begin operations as soon as feasible. The team will next determine how far the $1 billion can go before perhaps adding further money, according to CZ. Read details here

UAE regulator cancels FTX license following the exchange's collapse

The Dubai Virtual Assets Regulatory Authority (VARA) has suspended the license that permits FTX to make preparations to service the local market even though the FTX fiasco continues to make waves in the crypto industry and beyond. VARA said on its official website that it had canceled the license for FTX MENA's Minimum Viable Product (MVP) in the announcement. VARA acknowledged that FTX MENA's license had been suspended before any clients were revealed, citing the bankruptcy filing of FTX-related firms, including FTX exchange and Alameda Research. Take a look

Chainalysis says crypto has survived worse falls than FTX

Chainalysis, a blockchain analysis company, compared FTX's bankruptcy to the collapse of Mt. Gox to assess how it will affect the ecosystem. It came to the conclusion that FTX represented a relatively lesser portion of the cryptocurrency market than Mt. Gox did at the time and that the market would recover more powerfully than ever. Eric Jardine, the research lead at Chainalysis, started his comparison by first examining the market shares of the two companies. He discovered that, in the year prior to its collapse in 2014, Mt. Gox averaged 46% of all exchange inflows, as opposed to FTX's average of 13%, which was active from 2019 to 2022. Read more here

Sam Bankman-Fried continues to speak at events, and the crypto community is outraged

Sam Bankman-Fried, the former CEO of FTX, has angered the crypto community once more, this time over his planned attendance at a conference in New York City on November 30. Given the recent developments, vocal users of Crypto Twitter have questioned why the former CEO of the now-bankrupt exchange is still at large. Bankman-Fried revealed on Twitter on November 23 that he will be chatting with Andrew Sorkin, a reporter for The New York Times, "next Wednesday" at the DealBook Summit. Sorkin publicly confirmed the revelation, saying there are a lot of critical questions to be posed and addressed and that there would be no limitations. Read details here

Casper Association launches a $25 million fund to aid blockchain developers

Scalable blockchain network Casper has announced the beginning of its brand-new Casper Accelerate Grant Program, which has been established to assist innovators and developers who are creating software to support infrastructure, end-user applications, and research innovation on its blockchain. The Casper Network is a proof-of-stake (PoS) enterprise-focused blockchain that was created to assist companies in creating private or permissioned applications with the goal of driving company growth and blockchain adoption. The scalability trilemma, which revolves around security, decentralization, and high throughput, was resolved by the network. In order to facilitate the protocol's evolution as businesses increase their use, it also has developer-friendly features, upgradeable smart contracts, and significantly reduced gas fees compared to other layer-1 blockchains. Take a look

Argentine cryptocurrency exchange cuts 100 jobs, citing difficult industry conditions

On Thursday, Lemon Cash, a cryptocurrency exchange with operations in Argentina and Brazil, let off 38% of its workforce, or around 100 workers, blaming the difficult business environment and the absence of a clear timetable for the venture capital market's revival. According to CEO Marcelo Cavazzoli, both the Argentine and Brazilian operations were impacted. In response to the status of the sector, Lemon has lost more jobs than other Latin American crypto firms. Buenbit cut 80 employees, or 45% of its workforce, in May due to what the cryptocurrency exchange referred to as the "global upheaval" of the tech sector. In May, 80 employees were also let go by Bitso, another exchange.

The release of Fed minutes pumps up Bitcoin, Ethereum, and Dogecoin

The release of the Federal Reserve's meeting minutes from November resulted in a minor uptick in Bitcoin prices because the discussions were captured and may indicate that the Fed would gradually raise interest rates in the future. According to CoinGecko, the largest cryptocurrency by market size was trading for $16,498 at the time of writing, up 2.6% from the previous day. The second-largest digital asset, Ethereum, also increased in value, rising 3.3% on the previous day to trade at $1,169. The broader crypto market increased as well, including Dogecoin, the ninth-largest cryptocurrency and a favorite of Elon Musk, which rose 4.8% in a day and traded for $0.08.