Hbit Limited, a fully owned subsidiary of New Huo Technology, has approximately $18.1 million worth of assets stuck on FTX, which filed for bankruptcy last week, according to Nov. 14 press release. Huobi Technology, which used to be an affiliate of Huobi Global before Justin Sun acquired the exchange, was rebranded New Huo Technology in…
Crypto.com CEO Kris Marszalek held an AMA on Nov. 14, addressing concerns about marketwide insolvency pressures. He said the platform is operating as usual, only at a heightened level under the current market situation. Concerns grow over Crypto.com On Nov. 11, Marszalek made a partial disclosure of the company’s reserves in a bid to quell…
Anti-crypto Congressman Brad Sherman released a statement on the FTX crash and said that FTX has been supporting Democrats to influence crypto regulations and that he was correct to urge the SEC to take action against unregistered exchanges in early 2022. He also added that he plans to examine options for federal crypto legislation with…
Huobi has addressed the concerns raised as a result of Wu Blockchain’s tweet that highlighted over 10,000 ETH being moved out of the Huobi 34 wallet. Huobi explained that a part of the publicized address is the hot wallet address and assured those concerned that the firm guarantees the security of user assets, 100% redemption…
The Twitter community is on fire, discussing hidden motives behind asset transfers between Crypto.com and Gate.io that took place in October. The exchange’s CEO Kris Marszalek responded to speculation and said the transfer was done accidentally and had since been reverted. It was supposed to be a move to a new cold storage address, but…
In a press release on Nov. 12, the Securities Commission of The Bahamas (SCB) contradicted the statement published by FTX about resuming withdrawals in The Bahamas. Securities Commission Addresses FTX Statement on Bahamian Withdrawals pic.twitter.com/OZKWwicSuN — Securities Commission of The Bahamas (@SCBgov_bs) November 12, 2022 On Nov. 11, the former head of institutional sales at…
Binance CEO Changpeng Zhao said his firm backed out of the FTX deal because it did not make sense and the huge financial hole they would have had to cover. Speaking at the Indonesia Fintech Summit on Nov. 11, CZ said Binance already covers most of the markets that FTX.com operates in. Apart from that, his…
Kris Marszalek tweeted details of Crypto.com’s reserves in a bid to address insolvency rumors. Marszalek said the company holds 53,024 Bitcoin, 391,564 Ethereum, and other crypto assets totaling approximately $3 billion. He added that this represents “only a portion of our reserves,” and a Proof of Reserves audit is currently going on with public disclosure,…
FTX, alongside 130 affiliated companies including FTX.US and Alameda Research, has filed for Chapter 11 bankruptcy amid the liquidity crunch. Press Release pic.twitter.com/rgxq3QSBqm — FTX (@FTX_Official) November 11, 2022 CEO Sam Bankman-Fried also resigned from his position and will be replaced by John Ray III. According to the Nov. 11 press statement, SBF would continue…
U.S. Congressman Tom Emmer said in a tweet that he had received reports that the SEC chairman Gary Gensler was allegedly helping Sam Bankman-Fried and FTX “work on legal loopholes to obtain a regulatory monopoly.” Interesting. @GaryGensler runs to the media while reports to my office allege he was helping SBF and FTX work on…