Crypto Self-Custodying Offers Protection Amid FTX Exchange Fallout

Many crypto exchanges have failed in the past, losing client funds and causing many people to lose the money they had on the exchange. Crypto exchanges failing, unfortunately, is not an uncommon event in crypto, but the scale of fraud and mismanagement with FTX is unprecedented. These recent events have caused many in traditional finance to lose faith in the future of crypto, put tremendous downward pressure on crypto prices and lead many to call for further regulation in the crypto markets. Author: Jackson Wood Source link

Russia intends to launch a ‘national crypto exchange’

Russian lawmakers are working on amendments to launch a national crypto exchange. This effort is reportedly supported both by the Ministry of Finance and the Central Bank of Russia which have a long history of disagreement over crypto regulation in the country.  As local media reported on Nov. 23, members of the lower chamber of the Russian parliament, the Duma, have been in discussions regarding amendments to the country’s existing cryptocurrency legislation “On digital financial assets” with market stakeholders. The amendments, which would lay down a legal framework for a national exchange,…

FTX Contract Deployer Unlocks 192 Million FTT, Exchange Token’s Questionable Tokenomics Highlights Red Flags – Altcoins Bitcoin News

Following the collapse of FTX and the exchange filing bankruptcy on Nov. 11, the trading platform’s exchange token called ftx (FTT) has shed 91.6% in value during the last seven days. While the FTT token’s utility is based entirely on the backing of the now-bankrupt FTX and Alameda Research, the token is still trading for $1.85 per unit. Moreover, FTT’s deployer contract surprisingly unlocked 192 million FTX tokens on Nov. 12, 2022. While a few crypto exchanges have halted FTT deposits, crypto coin aggregation sites like coingecko.com have flagged the…

Crypto Exchange Binance Dumping All FTX Tokens on Its Books — CEO Cites ‘Recent Revelations’ – Altcoins Bitcoin News

Binance is dumping all of its FTX token (FTT) holdings “Due to recent revelations that have come to light,” CEO Changpeng Zhao has confirmed. “Regarding any speculation as to whether this is a move against a competitor, it is not,” he added. “Our industry is in its nascency and every time a project publicly fails it hurts every user and every platform.” Binance Liquidating All FTX Tokens on Its Books The CEO of global cryptocurrency exchange Binance, Changpeng Zhao (CZ), announced via Twitter Sunday that his exchange is liquidating all…