CryptoSlate Wrapped Daily: FTX took $3.7B loss in 2021; Coinbase reveals Grayscale Bitcoin reserves

1 year ago

The biggest quality successful the cryptoverse for Nov. 21 includes FTX’s telephone to different exchanges to expect and forestall hacker currency outs, Coinbase disclosing Grayscale’s 635,000 Bitcoin reserve, and Bank of England’s claims that blasted the FTX clang connected the FTT token run.

CryptoSlate Top Stories

FTX forewarns exchanges to frost stolen funds to forestall hacker cashing out

On Nov. 20, bankrupt FTX announced that each crypto exchanges should beryllium connected precocious alert regarding unauthorized money transfers from FTX Global to related debtors.

(1/2) Exchanges should beryllium alert that definite funds transferred from FTX Global and related debtors without authorization connected 11/11/22 are being transferred to them done intermediate wallets.

— FTX (@FTX_Official) November 20, 2022

According to FTX, the funds were being transferred done intermediate wallets. The speech warned each others to instrumentality indispensable precautions to prehend and instrumentality the funds, fixed that they someway are sent done their systems.

Grayscale holds 635K BTC arsenic Coinbase Custody reveals holdings

Grayscale’s custodian spouse Coinbase stepped successful to code the concerns regarding the fiscal presumption of the fund. Coinbase published a study disclosing the assets it held connected behalf of Greyscale.

According to the report, Greyscale presently owns astir $10 cardinal worthy of Bitcoin. This magnitude would beryllium person to $43.8 cardinal astatine the tallness of the bull market. Greyscale besides holds 3,056,833 Ethereums.

BoE speculates FTT token occurrence merchantability whitethorn person sparked FTX collapse, calls for wide regulation

During his code connected Nov. 17, the Bank of England’s Deputy Governor Jon Cunliffe said that the FTX clang was triggered by the FTX Token token run. He stated:

“Indeed, successful the FTX case, determination are indications that it could person been a tally connected its crypto coin, FTT, which triggered the collapse.”

Cunliffe besides said that the crypto sphere had proven to beryllium unstable during the past year. Cunliffe argued that the crypto manufacture indispensable beryllium brought nether regulations to beryllium stabilized.

‘Boring’ Litecoin makes play for apical 10 amid marketplace meltdown

Litecoin’s (Litecoin) has been spiking and presently stands astatine fertile 15 successful the marketplace cap. This is six spots higher than LTC’s ranking arsenic 21st connected Oct. 30.

Litecoin foundation’s managing manager Alan Austin tweeted to stock the ascent successful LTC by shouting retired to those who called Litecoin “boring.”

To those implicit the years who person called #Litecoin excessively boring:

Have you guys had capable excitement yet?

— Alan Austin (@alangaustin) November 17, 2022

FTX Exploiter ups the ante with 200K ETH move

After moving 50,000 Ethereum (Ethereum) connected Nov. 20, the FT X exploited moved different 195,000 Ethereum connected Nov. 21. The attacker transferred these funds successful 13 transactions,

Ren Bridge announces unfastened root assemblage led Ren 2.0 successful effect to Alameda fallout

The Ren Bridge task announced Ren 2.0, besides called ‘Ren Community’ connected its Medium relationship connected Nov. 18. The Ren 2.0 volition beryllium a fully-decentralized and community-owned cross-chain network.

Singapore’s watchdog says Binance placed connected Investor Alert List implicit FTX owed to unlicensed activity

The Monetary Authority of Singapore (MAS) explained wherefore it placed Binance connected its Investor Alert List (IAL) and near FTX retired of it. It said that Binance was actively looking for users to onboard successful Singapore, portion FTX wasn’t. MAS besides added that neither speech is licensed to run successful the country.

Hedge money capitalist Bill Ackman shills crypto, reveals investment

Hedge money capitalist billionaire Bill Ackman announced that the breathtaking crypto projects helium discovered changed his skeptical basal towards crypto.

Ackman announced his alteration of bosom connected his Twitter account. Even though helium didn’t disclose the projects, helium said they enabled the enactment of utile businesses and technologies.

Research Highlight

Research: Genesis received implicit $1B worthy of FTT from Alameda, FTX successful past 3 months

Analyzing the Arkham Intelligence’s dashboard, CryptoSlate analysts revealed that crypto lender Genesis received billions of dollars worthy of FTT tokens from FTX and Alameda Research.

Genesis received $932.56 cardinal worthy of FTT tokens from FTX and $141.1 cardinal worthy of FTT from Alameda, each during the past 3 months.

News from astir the Cryptoverse

FTX, Alameda took a $3.7B nonaccomplishment successful 2021

Based connected 2021 taxation returns, the FTX companies had national nett operating nonaccomplishment carryovers successful the magnitude of astatine slightest $3.7 cardinal and authorities nett operating nonaccomplishment carryovers successful the magnitude of astatine slightest astir $715 million, the latest filings from the FTX bankruptcy lawsuit show.

Coinbase stocks deed an all-time low

Coinbase banal prices recorded a caller all-time debased astatine $40.81 connected Nov. 21. At the clip of writing, the stocks are being traded for astir $41.10.

Uniswap collects users’ on-chain data

Leading decentralized speech Uniswap updated its committedness to privateness to denote that it is collecting its users’ on-chain data. The speech said it decided to bash truthful “to marque data-driven decisions that amended idiosyncratic experience.”

Crypto Market

In the past 24 hours, Bitcoin (BTC) declined by 4.14% to commercialized astatine $15.835, portion Ethereum (ETH) fell by 5.94% to commercialized astatine $1,106