November 15, 2022 @ 6:27 pm By JD Alois  |  

Money that fled FTX is looking for a place to land. But FTX is not necessarily the only platform that is losing crypto assets, at least according to a Tweet thread from Nansen. We are seeing more deposits than withdrawals to these exchanges in the… Read More

November 15, 2022 @ 6:04 pm By JD Alois  |  

BlockFi is preparing to file for bankruptcy, according to multiple reports, first revealed by WSJ.com. BlockFi is a trading, lending, and yield platform that has previously announced it had significant exposure to FTX. On November 11th, FTX announced that it was filing for Chapter 11,… Read More

November 15, 2022 @ 5:12 pm By JD Alois  |  

The Acting Comptroller of the Currency, Michael J. Hsu, testified in front of the Senate Committee on Banking today. In prepared testimony, the Acting Comptroller outlined his priorities for the bank regulator. In opening statements, the Chair of the Committee, Senator Sherrod Brown, took a… Read More

November 15, 2022 @ 4:03 pm By JD Alois  |  

Apple Pay, the very popular digital wallet offering from Apple (NASDAQ:AAPL), is now available via Circle, according to a blog post. Circle stated that eligible businesses who build with Circle can now accept Apple Pay. This includes both in-App payments as well as using a… Read More

November 15, 2022 @ 12:27 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Enforcement, has published its annual activity report for the fiscal year 2022. The Division of Enforcement is the largest section of the SEC and leverages the bulk of the agency’s budget. During the SEC’s fiscal year of… Read More

November 15, 2022 @ 10:20 am By JD Alois  |  

SPACs, or special purpose acquisition companies, boomed in 2021. This year, the story is rather different. According to data compiled by S&P Global Market Intelligence, through Q3 2022, there have been 78 SPAC initial public offerings (IPOs). This compares to 444 for the nine-month period… Read More

November 15, 2022 @ 9:48 am By JD Alois  |  

Before the collapse of FTX, founder Sam Bankman-Fried frantically attempted to cut a deal with Binance and worked the phones to raise more capital. Bankman-Fried quickly went from everything is fine, to we need a lot of money to keep things going. In the end,… Read More

November 15, 2022 @ 9:19 am By JD Alois  |  

An initial filing pertaining to the Chapter 11 filing for FTX and affiliated firms has surfaced today. Filed yesterday by new leadership at FTX to manage the bankruptcy proceedings, the document notes there are over 100,000 creditors with claims – a number that can balloon… Read More

November 14, 2022 @ 9:45 pm By JD Alois  |  

BTC Markets CEO Caroline Bowler has distributed a public statement on the FTX bankruptcy and its impact on the overall digital asset industry. BTC Markets is an Australian exchange that says it has set the industry standard for compliance in Australia. Last month, it announced… Read More

November 14, 2022 @ 9:23 pm By JD Alois  |  

ADDX, a Singapore-regulated digital assets exchange for private securities, has received an additional $20 million in new capital as part of a “pre-Series B” funding round. The money came from both existing and new investors – notably, Korea’s largest banking group – KB Financial Group… Read More

November 14, 2022 @ 6:24 pm By JD Alois  |  

Chengpeng “CZ” Zhou, the founder and CEO of Binance, announced a new “Industry Recovery Fund” following the collapse of FTX and the affiliated collateral damage that has harmed numerous crypto firms. Revealed via Twitter, CZ stated: To reduce further cascading negative effects of FTX, Binance… Read More

November 14, 2022 @ 4:11 pm By JD Alois  |  

The bankruptcy of FTX and many of its affiliated entities have pummeled all crypto markets. Many observers wonder if there is another shoe to drop. Meanwhile, crypto-associated firms continue to make announcements regarding any impact the collapse of crypto may have on their operations. It… Read More

November 14, 2022 @ 12:26 pm By JD Alois  |  

  One of the key elements of online capital formation is the fact that geography is not as important. While traditional venture hubs, like the Bay area and New York City, continue to garner much of the activity in securities crowdfunding, expanding access to capital… Read More

November 14, 2022 @ 10:51 am By JD Alois  |  

Wise (LSE:WISE) has partnered with Deel on a new service that aims to make payroll processing far simpler and faster. Deel has been a Wise Platform partner since 2019. Deel is a company that enables the hiring and payments services for companies hiring international employees… Read More

November 14, 2022 @ 9:42 am By JD Alois  |  

According to a note from the Commodity Futures Trading Commission (CFTC), LedgerX LLC (dba FTX US Derivatives), has pulled its application to amend FTX’s Amended Order of Registration as a derivatives clearing organization to allow FTX to offer products that are not fully collateralized. The… Read More

November 14, 2022 @ 9:24 am By JD Alois  |  

OpenSea, the largest NFT marketplace, announced via Twitter and a blog post, that it would enforce creator fees on all existing collections. UPDATE: We will continue to enforce creator fees on all existing collections.🧵⬇️ — OpenSea (@opensea) November 9, 2022   OpenSea reported that “in… Read More

November 14, 2022 @ 8:52 am By JD Alois  |  

DivideBuy, a UK-based point of sale (POS) credit provider, has announced a new partnership with payments platform Acquired.com. Acquired.com is a Visa and Mastercard accredited payment service provider as well as a Payment Initiation Service Provider (PISP) – regulated by the FCA, receiving its license… Read More

November 13, 2022 @ 5:26 pm By JD Alois  |  

As details of the FTX collapse continue to emerge, criticism has turned into a pile-on in regard to Sam Bankman-Fried’s mismanagement of the crypto exchange and affiliated entities, including his hedge fund Alameda Research. Bankman-Fried is said to be in the Bahamas, where authorities are… Read More

November 13, 2022 @ 4:40 pm By JD Alois  |  

Twitter’s filing with FINCEN (the US Department of Treasury, Financial Crimes Enforcement Network), has surfaced in the agency’s database. According to the filing, Twitter Payments, LLC has filed to become a Money Transmitter in all 50 states and territories. Twitter Payments joins over 25,000 Money… Read More

November 12, 2022 @ 9:38 am By JD Alois  |  

Insult upon injury, FTX is now dealing with “unauthorized transactions” that have led to the theft of crypto as FTX moves to place all crypto in cold storage. Ryne Miller, FTX.us GC, appeared to confirm the hack in a series of Tweets. https://twitter.com/_Ryne_Miller/status/1591326796305530880?s=20&t=gT0NTB2Hnmugn-deop6-gA   Elliptic… Read More