FTX

A Battle for the Top Crypto Exchanges: BYDFI listed on CoinMarketCap and CoinGecko

Retrieved on: 
Thursday, August 17, 2023
Music, Spotify, Binance, Environment, BYD, CMO, FTX, Cryptocurrency

SINGAPORE, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The war among cryptocurrency exchanges has been intense over the past two years, especially with Binance facing regulations and FTX shutting down. Various crypto exchanges from different countries have been vying for a prominent position. Established in 2020, the cryptocurrency exchange BYDFi is joining this top-tier crypto exchange battle.

Key Points: 
  • Established in 2020, the cryptocurrency exchange BYDFi is joining this top-tier crypto exchange battle.
  • In three short years, BYDFi has amassed over 500,000 registered users and was selected as one of Forbes' Top 10 Best Cryptocurrency Exchanges of 2023.
  • CoinMarketCap and CoinGecko are two globally recognized cryptocurrency ranking websites with a massive user base and substantial market influence.
  • The Coin List feature transforms BYDFi from a cryptocurrency trading platform into a community site for cryptocurrency enthusiasts, propelling BYDFi towards SocialFi.

BitGo Secures $100M Series C Funding At $1.75B Valuation

Retrieved on: 
Wednesday, August 16, 2023
Bitcoin, Growth, Nike, Go.com, FTX, AUC, Cryptocurrency, BitGo

PALO ALTO, Calif., Aug. 16, 2023 /PRNewswire-PRWeb/ --

Key Points: 
  • BitGo is the leading regulated custodian in over 50 countries and processes 20% of all on-chain Bitcoin transactions by value.
  • BitGo announced today $100M Series C financing from new, outside strategic investors with a valuation of $1.75B.
  • BitGo is also the custody provider for the FTX creditors funds under John Ray III's leadership and had been previously chosen as the distributor for Mt.
  • The announcement of this funding round follows BitGo's launch of Go Network, which enables institutions to trade and settle both digital assets and fiat 24/7 from secure custody.

The United States Remains A Key Player In The Global Crypto Industry, Despite Recent Regulatory Challenges: PayBito CEO Raj Chowdhury

Retrieved on: 
Tuesday, August 8, 2023
Crypto, Cloud, CFTC, SegWit, UI, Customer support, FTX, PALO, Miner, KYC, United States House of Representatives, Risk management, Innovation, Financial innovation, Committee, AML, Running, As a service, Century, Growth, Ecosystem, AI, United States Department of the Treasury, Hunger, Synovial joint, Legislation, Cryptocurrency

PALO ALTO, Calif., Aug. 8, 2023 /PRNewswire-PRWeb/ -- The global crypto community is viewing recent US policies as an overreaction to the FTX aftermath. The consensus feels strict crypto regulations can stifle innovations and limit market growth. PayBito CEO Raj Chowdhury however stays bullish on the US remaining a global crypto hub in upcoming years, adding the nation's talent pool will prevent the scales from tipping.

Key Points: 
  • PayBito CEO Raj Chowdhury discusses the US's continued role in the global crypto industry, despite the recent SEC crackdown.
  • PALO ALTO, Calif., Aug. 8, 2023 /PRNewswire-PRWeb/ -- The global crypto community is viewing recent US policies as an overreaction to the FTX aftermath.
  • PayBito CEO Raj Chowdhury however stays bullish on the US remaining a global crypto hub in upcoming years, adding the nation's talent pool will prevent the scales from tipping.
  • PayBito CEO and blockchain pioneer Raj Chowdhury states, "Brokers have solutions that can empower their capabilities and expand their portfolios.

BlockFi’s Disclosure Statement Conditionally Approved by Court

Retrieved on: 
Thursday, August 3, 2023
Blockchain, Cryptocurrency, Baby Boomers, Finance, Professional Services, Technology, Consumer, Digital Cash Management, Digital Assets, Moelis & Company, BIA, Bankruptcy, Plan, Haynes, Failure, Creditor, Kirkland & Ellis, FTX, BlockFi, Eastern Time Zone, BPC, Official Committee of Equity Security Holders, Wind, United States bankruptcy court, Title 11 of the United States Code, Kroll, Convenience, Standardized Natural Hazards Disclosure Statement, Unsecured creditor, Disclosure, Berkeley Research Group, Solicitation, Security (finance), Wallet

BlockFi Inc. and certain of its affiliates (“BlockFi” or “the Company”) today announce that its Disclosure Statement was conditionally approved by the United States Bankruptcy Court for the District of New Jersey (“the Court”) on August 2, 2023.

Key Points: 
  • BlockFi Inc. and certain of its affiliates (“BlockFi” or “the Company”) today announce that its Disclosure Statement was conditionally approved by the United States Bankruptcy Court for the District of New Jersey (“the Court”) on August 2, 2023.
  • BlockFi’s Chapter 11 Plan (“Plan”) maximizes recovery for clients and provides for the quickest possible distributions to clients.
  • BlockFi’s eligible creditors have the opportunity to vote in favor of the Plan and will receive BlockFi’s Disclosure Statement and Plan, detailed voting instructions, and additional important information.
  • Capitalized terms used that are not otherwise defined herein shall have the meanings given to them in the Plan and Disclosure Statement.

The future of money is digital – but NZ needs a careful framework to prevent the pitfalls of cryptocurrency

Retrieved on: 
Monday, July 24, 2023
Technology, Blockchain, Risk, FTX, Policy, Eye, New Zealanders, Cryptocurrency, Risk management, Research, Terrorism, Reserve Bank of New Zealand, Trust, Gold, Time, Reserve Bank, Mining, Growth, RBNZ, Medical device, Tether

At the end of last year, the Reserve Bank of New Zealand (RBNZ) published an issues paper, Private Innovation: Te Auahatanga, on digital currencies.

Key Points: 
  • At the end of last year, the Reserve Bank of New Zealand (RBNZ) published an issues paper, Private Innovation: Te Auahatanga, on digital currencies.
  • The paper sparked a wide-ranging discussion on the development of the cryptoasset market and how to respond to the challenges it presents.

The future of money in NZ

    • The RBNZ has mapped out a near future where businesses could accept digital currencies for payments, reducing currency conversion issues for international customers.
    • The bank also raised the question of how New Zealand’s existing rules on money laundering and the financing of terrorism would apply to cryptocurrencies.

The key hurdles for cryptocurrency


    Five key themes emerged out of the submissions received by the RBNZ. These core themes highlighted the concerns held by regulators, businesses and everyday New Zealanders.
    • The rules need to evolve with the technology.
    • That said, regulations need to initially be quite prescriptive.
    • This would encourage innovation as well as help shape effective regulations, balancing the growth of the sector with risk management and consumer protection.


    The submissions also highlighted the need for clear, accurate and accessible information on cryptocurrencies. Some respondents expressed concern about the general lack of knowledge about cryptocurrencies and how they work. The lesson from the collapse of the digital trading platform FTX is that New Zealand investors have to be protected, or at least made aware of, the risks of transactions through exchanges in more lenient jurisdictions.
    Risk and opportunities were also points of discussion. Respondents to the RBNZ paper acknowledged the risks associated with cryptocurrencies, such as financial crime and the risk to the wider financial system. At the same time, they saw a significant opportunity to enhance competition and further innovation in New Zealand.

    • This holds that if a cryptoasset presents similar risks to an existing financial product, it should be regulated in a similar manner.
    • This implies a flexible regulatory stance that evolves based on the risk profile of the asset, thereby creating a fair and balanced regulatory environment for all financial instruments, traditional or digital.
    • This could include blockchain analytics firms, crypto exchange platforms, research institutions and financial technology companies.
    • Stablecoins, a type of cryptocurrency with value pegged to fiat currencies (a government-issued currency that is not backed by a commodity such as gold) or gold, drew interest during consultations.
    • Regulations must be very clear on the reserve assets demanded, and market supervisors must monitor these reserves very closely.

The future is digital

    • Although promising, the future of cryptocurrency in New Zealand is not without its challenges.
    • As one respondent put it:
      The future is digital.
    • The future is digital.

T.J. Miller and Jon Heder to Star in “FORTUN3,” Toonstar’s Animated Parody Inspired by Collapse of FTX and Sam Bankman-Fried

Retrieved on: 
Thursday, July 20, 2023
Technology, Entertainment, Online, Communications, Media, Other Entertainment, General Entertainment, Web3, Artificial Intelligence, DreamWorks, Veteran, A.I, Warner Bros., FTX, Sims, The Walt Disney Company

Miller is set to portray a character inspired by Sam Bankman-Fried in this dysfunctional social comedy loosely based on the implosion of FTX.

Key Points: 
  • Miller is set to portray a character inspired by Sam Bankman-Fried in this dysfunctional social comedy loosely based on the implosion of FTX.
  • Jon Heder (“Napoleon Dynamite”), partner at Verified Labs, also joins the cast with Amber Rose as a recurring guest star.
  • Players will also have the opportunity for their characters to be picked up for a role in the animated series.
  • I can’t wait to see it blow people’s actual minds.”
    FORTUN3, the animated series and companion game of the same name, will be released in Q4 of this year.

1 billion set to onboard Crypto using ByBarter

Retrieved on: 
Tuesday, July 18, 2023
Crypto, Bitcoin, Ethereum, Communication, FOREX, FTX, Polygon, Matic, Decentralization, Alchemy, Business, Decentralized finance, Chain-link fencing, Tron, Amazon, BYB, Avalanche, USDT, P2P, Growth, Team, LocalBitcoins, Cryptocurrency, Pax-Bank, Blockchain, Centralisation

ByBarter provides an independent route for on and off ramping directly from self-custody wallets; the only tool used to access the Decentralized crypto and DeFi space.

Key Points: 
  • ByBarter provides an independent route for on and off ramping directly from self-custody wallets; the only tool used to access the Decentralized crypto and DeFi space.
  • With over $45 billion in Total Value Locked in the decentralized crypto space, the ByBarter Team made up of some ex-Twitter and Amazon developers are optimistic that decentralized crypto requires independence from centralized systems in order to foster growth.
  • “It is senseless for decentralized crypto enthusiasts to depend absolutely on Centralized exchanges for funding and withdrawals from self-custody wallets.
  • Over 1 billion unbanked adults can now seamlessly access crypto using their self-custody wallets on ByBarter.

Polymesh Releases New Report on Regulatory Developments in Digital Assets: APAC - 2023

Retrieved on: 
Tuesday, July 18, 2023
Professional Services, Blockchain, Technology, Software, Finance, Fintech, Digital Cash Management, Digital Assets, Money, FTX, MAS, Monetary Authority of Singapore, Organization, Mica, Digital asset, Risk, European, Synovial joint, Cryptocurrency, Binance

Polymesh Association , the leader in real world asset tokenization and blockchain technology for capital markets, today published its report on Regulatory Developments in Digital Assets: APAC - 2023, which examines recent regulatory initiatives in South Korea, Singapore and Hong Kong and provides compelling insights for organizations and professionals involved in the digital asset economy in the Asia Pacific Region.

Key Points: 
  • Polymesh Association , the leader in real world asset tokenization and blockchain technology for capital markets, today published its report on Regulatory Developments in Digital Assets: APAC - 2023, which examines recent regulatory initiatives in South Korea, Singapore and Hong Kong and provides compelling insights for organizations and professionals involved in the digital asset economy in the Asia Pacific Region.
  • Regulators around the world are racing to implement rules for the volatile digital assets sector post FTX collapse, Terra Luna meltdown and other high-profile failures.
  • “In April, we saw the European Union lead the world with the landmark MiCA regulatory framework,” said Graeme Moore, Head of Tokenization, Polymesh Association .
  • “Notably, the demand for clear, efficient regulatory frameworks that do not stifle innovation are also emerging from the Asia Pacific Region, particularly in South Korea, Singapore and Hong Kong.

Equable Institute Analysis Finds U.S. Public Pension Funding Shortfall Unlikely to Meaningfully Improve in 2023 Due to Underperforming Investments

Retrieved on: 
Tuesday, July 18, 2023
Global recession, Silicon Valley Bank, Pension, Great Recession, ESG, Investment, SVB, Risk, History, FTX, Insurance, Bank, Pension fund, Life insurance, Uranium mining

NEW YORK, July 18, 2023 /PRNewswire/ -- State and municipal retirement systems are on track to miss their investment targets and are unlikely to see meaningful improvements in their unfunded liabilities or funded ratio in 2023, according to Equable Institute's State of Pensions 2023 report. Following significant losses in 2022 due to negative investment returns, unfunded liabilities grew to $1.57 trillion, bringing the national aggregate funded ratio to 75.4%. Equable estimates that the aggregate funded ratio for U.S. state and local pension funds will rise marginally to 77.4% in 2023 and unfunded liabilities will remain effectively flat at $1.49 trillion year over year, driven by underperforming investments. This marks a return to the stagnant funding levels seen in the decade following the Great Recession.

Key Points: 
  • In 2023, retirement systems need to start accounting for the amount of 'valuation risk' their portfolios are exposed to.
  • However, the performance of state and local pension funds' investments (5.3% on average) have not met plan's investment targets.
  • Specifically, the report finds:
    Preliminary 2023 investment returns for state and local plans are 5.3% on average, through June 30, 2023.
  • More laws were adopted in 2023 concerning pension funds' investments related to ESG than any other year on record.

CryptoVantage Survey Finds 70% of Americans Believe Bitcoin Will Return to All-Time Highs in Five Years

Retrieved on: 
Tuesday, July 18, 2023
Binance, DOGE, Coinbase, ETH, FTX, Cryptocurrency, Dogecoin, Bitcoin, Ethereum

70% believe Bitcoin will return to all-time highs in the next five years, with 23% of that group predicting within the next year.

Key Points: 
  • 70% believe Bitcoin will return to all-time highs in the next five years, with 23% of that group predicting within the next year.
  • TORONTO, July 18, 2023 /PRNewswire/ - A recent survey conducted by CryptoVantage reveals that the majority of Americans are optimistic about the future of Bitcoin, with 70% believing that it will return to its all-time high in the next five years.
  • 23% of respondents expect Bitcoin to return to all-time highs within the next year, however a greater majority of 47% believe this will happen within the next five.
  • The survey from CryptoVantage also asked respondents what they felt were the major factors that might impact the price of crypto.