FTX asset sales challenged by U.S. Trustee: Report

Bankrupt crypto exchange FTX’s plans to sell its digital currency futures and clearinghouse LedgerX, among other businesses, were challenged by the U.S. Trustee on Jan. 7, according to Reuters. As per the filing, U.S. Trustee Andrew Vara called for an independent investigation before any sale, claiming that valuable information related to the exchange’s bankruptcy could be compromised. The document states: “The sale of potentially valuable causes of action against the Debtors’ directors, officers and employees, or any other person or entity, should not be permitted until there has been a…

U.S. Investigators Subpoena Hedge Funds in Binance Money-Laundering Probe: Report

Recently, Binance has made efforts to increase its commitment to compliance, growing its security and compliance staff by 500% in 2022. Additionally, last fall the company assembled a global advisory board chaired by Max Baucus, a former Democratic senator from Montana. Meanwhile, the exchange seems eager to improve its relations with the U.S. government, recently becoming active in crypto lobbying in Washington, DC. Author: Elizabeth Napolitano Source link

Using blockchain technology to combat retail theft

The retail industry is one of the most important sectors of the United States economy. Unfortunately, the COVID-19 pandemic has left the trillion-dollar retail sector vulnerable to in-store theft.  Findings from the National Retail Federation’s 2022 Retail Security Survey show that retail losses from stolen goods increased to $94.5 billion in 2021, up from $90.8 billion in 2020. Some retailers also have to lock away certain products to prevent theft, which may lead to decreased sales due to consumers’ inability to access goods. Retailers look toward blockchain to solve retail…

Holoride Is an Aftermarket Solution for In-Car VR, and It Has Its Own Metaverse

Holoride ambitiously calls this vision the “Motorverse,” and it’s spent a lot of time thinking it through. The company spun out of Audi years ago, and while the hardware is new to the market, it’s been crafting the platform for a while. RIDE launched at the end of 2021, and it’s since been listed on several exchanges, the company says: Gate.io, Bitstamp, MEXC Global and the MutiversX decentralized exchange. Author: Pete Pachal Source link

Web3 Animoca Brands cuts fundraising goal to $1 billion in Q1 2023

Web3-focused gaming company Animoca Brands has announced that it is now targeting a $1 billion fundraising goal for a fund to inject help into already established blockchain projects. This figure is significantly lower than the $2 billion the company announced in November as the upper limit for the same fund. Animoca Brands announces lower numbers for Web3 and Metaverse fund Animoca Brands, one of the most popular Web3 and blockchain gaming companies, has made a new announcement regarding its fundraising goals for the first quarter of 2023. Yat Siu, co-founder…