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Blockchain & crypto news from India

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Blockmagic

Blockchain & crypto news from India

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Tag: FTX

crypto crime scam
Money laundering

Crypto dominos will continue to fall: Foreign Policy article

  • Blockmagic
  • Posted on January 23, 2023

Away from the hype and excitement around blockchain and new forms of money, a Foreign Policy article offers a sobering view of the new business world that has sprung around the hype around cryptocurrencies, tokens, DeFi, NFTs and digital assets. It turns out it is the same old finance and market practices that have found…

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crypto payment
Crypto payment technology

Crypto payment venture Wyre reported to be struggling

  • Blockmagic
  • Posted on January 9, 2023

Wyre is a crypto payment venture founded in 2013, and is now reported to be struggling. The challenges appear to be related to the fallout of FTX collapse and the overall economy of the crypto world. A recent salvage attempt by transport company Bolt fell through in what could have been a $1.5 billion buyout….

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crypto regulation
Crypto scams

Crypto industry tightens up, Coinbase goes for settlement

  • Blockmagic
  • Posted on January 6, 2023

“1.7 million people call Celsius their home for crypto”, says the homepage of Celsius Network. It is certainly the case that, just as crypto investors were dreaming of ‘moon’ and ‘lambo’, so were the crypto CEOs whom they trusted to “manage” their money. The latest in the FTX saga is that the US Justice Department…

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digital-art-crypto-kitty
Solana blockchain

Post FTX jolt, Solana loses two top NFT projects to rival Ethereum and Polygon

  • Blockmagic
  • Posted on December 27, 2022

Hit hard by the FTX collapse, Solana’s woes continue as two of its top NFT collections have decided to move to rival chains. Solana has been the second choice after the natural Ethereum for NFT projects, but things are taking a turn. DeGods (created by y00ts founder) and Magic Eden will soon bridge their way…

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FTX logo
Crypto scams

New casualty of FTX: crypto and digital news portal, The Block

  • Blockmagic
  • Posted on December 13, 2022

Not just crypto and blockchain ventures, but a news outlet too were “infected” with the Sam-Bankman-Fried money virus, who has recently been arrested in The Bahamas on December 12. The Block has become another entity to face the heat of FTX’s collapse, now being considered as one of the biggest or perhaps the biggest fraud…

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Paul Krugman
Blockchain advocacy

Nobel prize winner Krugman on blockchain, Maersk failure

  • Blockmagic
  • Posted on December 5, 2022

Nobel prize winning economist Paul Krugman recently said to the media that the overhyped blockchain has proven to be “useless”. The shut down of TradeLens is only one of the events he cites to support his anti-crypto views that he has been sharing for a long time. In 2011, he had published an op-ed in…

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FTX logo
Ether

$200 million in ETH from FTX stolen funds was distributed across 12 wallets

  • Blockmagic
  • Posted on November 24, 2022

The effects of FTX’s failure were far more severe than anticipated. The market was also impacted by the subsequent hack. The stolen cash were being relocated, albeit it’s still unclear what exactly happened during the hack. Huge sums of money from the $447 million in stolen money have been moving about over the last few…

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crypto scam
Cryptocurrency exchanges

Post FTX, major exchanges start sharing proof of reserves

  • Blockmagic
  • Posted on November 15, 2022

The fallout of FTX debacle has sent out red alerts in the crypto trading world, and the stress now is on holding one’s own digital assets in wallets rather than keeping them on exchanges. Trading exchanges have gone a knee-jerk reaction, revealing their owned assets in what are called proof of reserves. Holding one’s crypto…

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FTX logo
Cryptocurrency exchanges

The FTX Take-Down: What the CoinDesk news report said

  • Blockmagic
  • Posted on November 14, 2022

The FTX debacle dominates social media crypto channels. The story unfolded with a little news report with a long title on CoinDesk, which reported that the two parts of Sam Bankman-Fried’s “crypto empire” – FTX and Alameda Research had a meeting point – the latter’s balance sheet. It said “Much of it is the FTT…

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crypto crime
Cryptocurrency exchanges

FTX bankruptcy deals another blow to crypto, had India investments too

  • Blockmagic
  • Posted on November 12, 2022

Updated: Nov 14, 2022 Until a few weeks ago, FTX was making waves with its sports sponsorships. The latest visuals came from the ongoing World Cup T20 cricket tournament in Australia. What has recently emerged from the debacle of FTX was, if we believe it to be true, a comical goof-up – a “poor internal…

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Crypto News

CBDC Update: Technical glitches, expectations
CBDC Update: Technical glitches, expectations
April 1, 2023
Stay away from crypto “Play-to-Earn” games, US Agency flags theft risk
Stay away from crypto “Play-to-Earn” games, US Agency flags theft risk
March 15, 2023
New Ethereum tool allows fund recovery without private keys
New Ethereum tool allows fund recovery without private keys
March 9, 2023

Coins & Tokens

Australia’s NAB Creates Stablecoin, Carries out Cross-Border Settlement
Australia’s NAB Creates Stablecoin, Carries out Cross-Border Settlement
March 21, 2023
Bitcoin prices “unresponsive” to macroeconomic news: NY Fed Study
Bitcoin prices “unresponsive” to macroeconomic news: NY Fed Study
February 11, 2023
Switzerland’s City of Lugano goes “full Bitcoin”
Switzerland’s City of Lugano goes “full Bitcoin”
January 7, 2023

Markets & Investment

Bitcoin Ordinal NFTs take block heights above 3MB
Bitcoin Ordinal NFTs take block heights above 3MB
February 14, 2023
Ethereum steps closer to Shanghai upgrade with stake withdrawal feature
Ethereum steps closer to Shanghai upgrade with stake withdrawal feature
January 25, 2023
Post FTX jolt, Solana loses two top NFT projects to rival Ethereum and Polygon
Post FTX jolt, Solana loses two top NFT projects to rival Ethereum and Polygon
December 27, 2022

Events

Blockchain Life 2023 to be held in February in Dubai
Blockchain Life 2023 to be held in February in Dubai
December 12, 2022

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