headlines

headlines

BlockFi officially filed for bankruptcy and reorganization, and more than 100,000 creditors still hold $256.9 million in cash
Odaily News The encrypted lending company BlockFi and its eight subsidiaries have officially filed for bankruptcy reorganization in the New Jersey Bankruptcy Court, and customer claims will be handled through Chapter 11 of the bankruptcy law.
In addition, the document shows that BlockFi has more than 100,000 creditors, and its estimated assets and estimated liabilities are both in the range of US$1 billion to US$10 billion. BlockFi currently still holds $256.9 million in cash, and platform services will continue to be suspended. (Business Wire)

Industry news

Industry news

Circle European Affairs Director: European Parliament will hold a hearing this week, the content may be about the causes of the FTX crash, fraud and misappropriation

Odaily News Circle EU Affairs Director Jonas Frederiksen tweeted that the European Parliament will hold a hearing on FTX this week, which may include the causes of the FTX crash, fraud and misappropriation in FTX, etc. MiCA, which comprehensively regulates the encryption market, will be released in mid-2023, which may play a guiding role in the direction of global encryption regulation.

Bahamas Attorney General: Civil and Criminal Investigations into FTX are ongoing
Odaily News Bahamas Attorney General and Minister of Legal Affairs L. Ryan Pinder made a speech on the FTX crash, saying that FTX is actively conducting civil and criminal investigations. Although FTX is regulated by the Bahamas, Alameda Research is not. The Bahamas should not be blamed for its collapse, and people should not "oversimplify reality."

According to previous reports, the Securities Commission of the Bahamas stated that it will continue to assess the situation and take measures in accordance with the instructions issued by the Supreme Court of the Bahamas, and will cooperate with other regulatory authorities to take further actions as needed to preserve the assets of FTX Digital Markets Ltd (FDM) and Safeguard the interests of FDM customers and creditors. Additionally, the Commission will continue to investigate the facts and circumstances surrounding the FTX liquidity crisis and any possible violations of Bahamian law.

Two addresses hold more than 73% of FTT tokens, FTX hacker is the second largest holder
Odaily News Etherscan.io data shows that on November 27, there were approximately 24,874 wallets holding FTT tokens, and the top two FTT holding addresses held FTT accounting for more than 73% of the token supply. Among them, the largest coin-holding wallet holds 195,869,338 FTTs, accounting for 59.55% of the total supply; the "FTX Accounts Drainer" hacker address is the second largest holder of FTTs, holding 45.85 million FTT tokens (approx. $61.44 million). Additionally, Bitdao holds 3,362,316 FTTs and Wormhole holds about 2,818,904 FTTs.

Before FTX crashed and filed for bankruptcy, Alameda Research held one of the largest FTT reserves. Former Alameda CEO Caroline Ellison has reportedly left Hong Kong for Dubai. (Bitcoin.com)

Bitcoin 'Millionaire' Addresses Have Dropped About 80% Over the Past Year
Odaily News Glassnode data shows that there are currently only 23,000 wallet addresses holding bitcoins worth at least US$1 million. There are 112,898 class wallet addresses. This means that "bitcoin millionaire (dollar) millionaire" addresses have decreased by about 80% in the past year.

In addition, the main group that has recently reduced BTC holdings is the giant whale address (holding 1,000 or more). The whale has transferred about 65,000 BTC to exchanges in the past month, but this is still a very small percentage compared to its total holdings of 6.3 million BTC. (Cointelegraph)

Fed's Mester: Don't think Fed is close to pausing tightening

Odaily News Cleveland Federal Reserve Bank President Loretta Mester (Loretta Mester) said, "I don't think the Fed is close to pausing tightening policy, and we need to see more good inflation data." (Golden Ten)

South Korean prosecutors consider indicting Terra co-founder Daniel Shin for fraud

South Korean prosecutors say they may charge Terraform Labs co-founder Daniel Shin with fraud for promoting the now-collapsed Terra-Luna stablecoin as a payment method despite repeated warnings from financial regulators This is against the law. Daniel Shin's full name is Shin Hyun-seung. Prosecutors are considering whether to charge Daniel Shin with fraud in violation of the Capital Markets Act and whether to issue an arrest warrant.

As previously reported, South Korea’s Seoul Southern District Court granted local prosecutors’ request to freeze approximately $104 million in assets belonging to Terraform Labs co-founder Daniel Shin. Local authorities believe the assets were obtained illegally through the cryptocurrency LUNA. Shin was earlier investigated by the local prosecutor's office on charges of violating capital market laws and breach of duty. Daniel Shi told South Korean prosecutors that he did not sell LUNA at a high point before the price of the token plummeted.

According to Odaily, according to Nansen data, Jump Crypto deposited 2,850 ETH in the exchange in the past 24 hours and sold almost all of them, causing the ETH market price to drop for a short time. Previously, the encryption community questioned the close relationship between the market maker Jump Trading and FTX. This sale of ETH may be a signal for the fund to start selling to obtain liquidity. (u.today)

Project News

Project News

The largest creditor of BlockFi is Ankura Trust, followed by FTX US and the US Securities and Exchange Commission
Odaily News According to BlockFi's bankruptcy application form, Ankura Trust Company, LLC is its largest creditor, with unsecured claims worth about $729 million, followed by FTX US and the US Securities and Exchange Commission, with unsecured claims of $275 million and $300 million, respectively. Ten thousand U.S. dollars.

The FTX US amount appears to come from a line of credit extended to BlockFi earlier this year, while the SEC amount is related to BlockFi’s multi-party investigation settlement with state and federal regulators in February. (The Block)

Nexo: Zero exposure to BlockFi and Genesis, never provided unsecured loans to other companies

Odaily News The encrypted lending platform Nexo officially stated that it has zero risk exposure to BlockFi and Genesis, and has never provided unsecured loan services to other companies, and has always focused on automated, secured credit facilitation to ensure sustainability develop.

Across Protocol Governance Token ACX Airdrop is open for application, and the current price is $0.08
Odaily News The cross-chain bridge Across Protocol airdrop governance token ACX has been opened for application. According to market data, ACX is currently trading at $0.08.

As previously reported, the cross-chain bridge Across Protocol stated that it will establish an initial liquidity pool on Balancer after the official circulation of ACX tokens. In addition, after the liquidity pool is launched, users will also be able to obtain additional ACX rewards by adding liquidity, and may apply for Balancer and Aura rewards in the future.

Messari founder: DCG will not sell GBTC due to liquidity crisis
Odaily News Messari founder Ryan Selkies tweeted, "DCG and its investment company Genesis cannot sell Grayscale Bitcoin Investment Trust (GBTC). They are indeed experiencing a liquidity crisis, however, the public market has rules. Since early last year GBTC Since the premium to BTC spot turned negative, DCG has purchased approximately $800 million worth of GBTC stock. Given current liquidity issues, remaining investments may be put on hold indefinitely."

Since GBTC switched from a premium to a discount in early 2021, DCG has purchased nearly $800 million worth of GBTC shares, and the DCG board of directors has authorized Grayscale Trust to purchase up to $1.2 billion worth of GBTC shares.

Mirror: Downtime fixed and service back to normal
Odaily News According to the official announcement, Mirror, a decentralized content publishing platform, announced that its services have returned to normal.

As previously reported, this afternoon, mirror.xyz had a downtime problem, and the official homepage could be opened, but specific operations and articles could not be viewed. Visiting the article page shows limited server functionality.

Binance is working with third-party auditors, large Binance Wallet transfers as part of proof of reserve process
Odaily News Binance issued an official announcement, "As part of the Proof of Reserves (PoR) process, Binance is working with third-party auditors to provide proof of ownership. Therefore, you may see one of Binance's wallets in one day. Some large transfers between them".

In addition, Binance CEO CZ also stated on social media that Binance will perform large BTC transfer operations on all cold wallet addresses in the next few hours/days, some will not trigger Whale Alert, and some will not trigger Whale Alert. may trigger, depending entirely on the input address.

Game 7 Launches $100M Grant Program to Accelerate Web 3 Game Development
Odaily news Web 3 game DAO Game 7 launched a $100 million funding program to accelerate Web 3 game development, the project will allow developers to build tools, create educational programs, hold events, and conduct research to make the Web 3 video game industry more diverse and accessibility. The $100 million grant will be distributed in annual installments of $20 million over the next five years. Grants will be allocated to Web 3 game projects through five categories: Technology, Events, Diversity, Education and Research, and developers can apply on the Game 7 Grants Portal.

It is reported that Game 7 is a decentralized autonomous organization (DAO) located in San Francisco, USA, supported by the BitDAO and Forte ecosystems.

AAX Vice President: I have resigned and the brand no longer exists
Odaily news Ben Caselin, vice president of cryptocurrency exchange AAX, tweeted that he had resigned from AAX. He did fight for the community, but none of the initiatives that were put forward were accepted. Many people turned to him for help, including his own family, but there was nothing he could do, and everyone was waiting for further action. "I still believe things will be handled properly without malice, but the damage has been done. The brand is gone and the trust has been broken."
According to previous reports, AAX has deleted the official English Youtube channel (including all videos), and the Chinese Youtube channel has deleted all videos; the English Facebook account has been deleted, and the Chinese Facebook account is temporarily normal. The official Twitter account is still working fine.

According to BlockTempo, there are market rumors that AAX is about to go bankrupt. Helen Wu, head of human resources of its parent company Atom Asset, told AAX operations director David Wan, "The company has decided to dissolve, and the existing funds can only guarantee the salary of employees in November." Employees at AAX It is possible that only half of the assets held in the network will be returned and will be handled separately, but there is no mention of how user assets will be handled.

LINE's encrypted exchange Bitfront will end operations at the end of March next year
Bitfront has now suspended new registrations and credit card payments, and deposits and interest payments for the interest rate product business will cease on December 12. On December 13, deposit interest will be paid for the period from December 5 to December 11, and all deposits and interest of LN/LN interest products will be withdrawn forcibly; on December 30, cryptocurrency and USD deposits, transactions, and pending cancellations will be suspended Order. Withdrawals will be suspended on March 31, 2023. After March 31, U.S. customers can claim assets in their state, and global customers can claim assets in Delaware.

Investment and Financing

Investment and Financing

Fintech company Ejara completes $8 million financing led by Anthemis and Dragonfly
Odaily news Cameroonian financial technology company Ejara completed $8 million in Series A financing, led by Anthemis and Dragonfly, participating investors include Mercy Corps Ventures, CoinShares Ventures, Lateral Capital, Circle Ventures, Moonstake, Emurgo, HashKey and BPI France, individual investors Including Blockworks co-founder Jason Yanowitz and others.

It is reported that Ejara provides users in French-speaking countries in Africa with services to buy, sell, exchange and store their cryptocurrencies, and use non-custodial wallets. In addition to cryptocurrencies, it is also tokenizing government bonds and issuing savings products against them.

Institutional staking platform Kiln closes €17 million funding led by Blockdaemon and Illuminate Financial