FTX’s Bahamas-based entity comingled customer funds with corporate funds, according to a liquidator report.
The findings, published earlier this month, state that there was “little distinction” between client and company funds on an accounting basis.
Similar claims were made about the broader FTX empire at the outset of its bankruptcy process.
The FTX Digital Markets report indicated that poor accounting practices would make it difficult to identify which money belongs to who.
Was anyone sitting around expecting the Bahamas operation to turn out to be a paragon of bookkeeping?
It’s just more sad proof that the bankruptcy and the unwinding process looks increasingly like it’ll be a Gox-length event. Good luck out there.
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The findings, published earlier this month, state that there was “little distinction” between client and company funds on an accounting basis.
Similar claims were made about the broader FTX empire at the outset of its bankruptcy process.
The FTX Digital Markets report indicated that poor accounting practices would make it difficult to identify which money belongs to who.
Was anyone sitting around expecting the Bahamas operation to turn out to be a paragon of bookkeeping?
It’s just more sad proof that the bankruptcy and the unwinding process looks increasingly like it’ll be a Gox-length event. Good luck out there.
📍 Follow @Coins for the hottest news in crypto.
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Forwarded from Crypto Rekt Liquidations Bot
Binance Will List Gains Network (GNS) in the Innovation Zone
https://www.binance.com/en/support/announcement/879934f2ae8c40b8a6fab68f713bb73a
https://www.binance.com/en/support/announcement/879934f2ae8c40b8a6fab68f713bb73a
Binance
Support Center | Binance Support
Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume
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Yesterday was the highest options 24h volume this year with over $3 billion notional
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📍 Follow @Coins for the hottest news in crypto.
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Stepn announces airdrop rewards for each Genesis Sneaker holder:
Genesis Sneaker Airdrop 🪂
Common ➡️ 4,000 $GMT
Uncommon ➡️ 8,000 $GMT
Rare ➡️ 16,000 $GMT
Epic ➡️ 32,000 $GMT
Full thread: https://twitter.com/Stepnofficial/status/1626550531660431360
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Genesis Sneaker Airdrop 🪂
Common ➡️ 4,000 $GMT
Uncommon ➡️ 8,000 $GMT
Rare ➡️ 16,000 $GMT
Epic ➡️ 32,000 $GMT
Full thread: https://twitter.com/Stepnofficial/status/1626550531660431360
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Arbitrum has been integrated onto Coinbase
https://twitter.com/CoinbaseAssets/status/1626296045184376833
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https://twitter.com/CoinbaseAssets/status/1626296045184376833
📍 Follow @Coins for the hottest news in crypto.
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Binance Global is considering ending relationships with US business partners such as banks and services firms; it also consider de-listing tokens from any US-based projects, including USDC. Binance US is not affected and has no plans to exit country
https://www.bloomberg.com/news/articles/2023-02-17/binance-holdings-explores-retreat-from-the-us-as-crypto-crackdown-escalates
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https://www.bloomberg.com/news/articles/2023-02-17/binance-holdings-explores-retreat-from-the-us-as-crypto-crackdown-escalates
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Bloomberg.com
Binance Considers Pulling Back From US Partners as Crypto Crackdown Escalates
Crypto giant Binance Holdings Ltd. is considering ending relationships with US business partners as regulators turn up the heat.
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Since February 1st:
1. Futures added 50 bps in rate hike expectations
2. November CPI revised higher by 0.1%
3. December CPI revised higher by 0.2%
4. January PPI more than doubled expectations
5. Fed talking about 50 bps rate hikes
The fight against inflation continues.
Source: Kobeissi Letter
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1. Futures added 50 bps in rate hike expectations
2. November CPI revised higher by 0.1%
3. December CPI revised higher by 0.2%
4. January PPI more than doubled expectations
5. Fed talking about 50 bps rate hikes
The fight against inflation continues.
Source: Kobeissi Letter
📍 Follow @Coins for the hottest news in crypto.
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Forwarded from Crypto News - Fast Market Moving⚡️
OpenSea said it was dropping its fee to 0% for a period of time while also moving to a 0.5% “creator earnings model.”
https://twitter.com/opensea/status/1626682043655507969
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https://twitter.com/opensea/status/1626682043655507969
📍 Follow @Coins for the hottest news in crypto.
X (formerly Twitter)
OpenSea on X
We’re making some big changes today:
1) OpenSea fee → 0% for a limited time
2) Moving to optional creator earnings (0.5% min) for all collections without on-chain enforcement (old & new)
3) Marketplaces with the same policies will not be blocked by the operator…
1) OpenSea fee → 0% for a limited time
2) Moving to optional creator earnings (0.5% min) for all collections without on-chain enforcement (old & new)
3) Marketplaces with the same policies will not be blocked by the operator…
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The supply of BUSD decreased by about 18% in 6 days. 2.861 billion BUSD has been withdrawn from the market.
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📍 Follow @Coins for the hottest news in crypto.
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Forwarded from Bitcoins
Paraguay, one of the smallest countries in Latin America, is quickly becoming one of the largest Bitcoin mining hubs.
Detailed article on the same: https://hashrateindex.com/blog/bitcoin-mining-around-the-world-paraguay/
@bitcoins
Detailed article on the same: https://hashrateindex.com/blog/bitcoin-mining-around-the-world-paraguay/
@bitcoins
Hashrate Index
Bitcoin Mining Around the World: Paraguay
Paraguay is a rising leader in Latin America's Bitcoin mining industry.
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1,203 Days until Gary Gensler’s, US SEC chair person, term ends.
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📍 Follow @Coins for the hottest news in crypto.
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Women-Led Web3 Startups Raise 4X Less Funding Than Those With Male Founders.
Only 13% of Web3 founding teams include a woman, and only 3% have teams exclusively made up of women, a recent study found.
Do you think VCs really care about gender of the project owner before making an investment?
👍 Yes, they do
👎 No, its purely business.
https://blockworks.co/news/women-web3-startups-funding
Only 13% of Web3 founding teams include a woman, and only 3% have teams exclusively made up of women, a recent study found.
Do you think VCs really care about gender of the project owner before making an investment?
👍 Yes, they do
👎 No, its purely business.
https://blockworks.co/news/women-web3-startups-funding
Blockworks
Women-Led Web3 Startups Raise 4X Less Funding Than Those With Male Founders
Only 13% of Web3 founding teams include a woman, and only 3% have teams exclusively made up of women, a recent study found.
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OKX released the fourth proof of reserves. The actual user assets increased by about $602m.
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📍 Follow @Coins for the hottest news in crypto.
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Huobi Global has announced that it's applying for a crypto trading license in Hong Kong.
https://twitter.com/justinsuntron/status/1627602672034680832
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https://twitter.com/justinsuntron/status/1627602672034680832
📍 Follow @Coins for the hottest news in crypto.
X (formerly Twitter)
H.E. Justin Sun 孙宇晨 (@justinsuntron) on X
Big news for crypto today: @HuobiGlobal has announced that it's applying for a crypto trading license in Hong Kong🇭🇰! This is a major step for the major cryptocurrency exchange and a sign of its continued commitment to operating in a compliant and regulated…
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