Well, it was definitely a week. Following rumors that FTX is in financial trouble, Binance has said it will liquidate all of its FTT holdings, and FTX CEO Sam Bankman-Fried has denied insolvency rumors amid growing speculation that the exchange was facing liquidity problems, while revealing the reasons for not investing in the acquisition of Twitter by Elon Musk. But then news broke that Binance would acquire FTX, cryptocurrency prices plummeted as FTX crashed, and US regulators were already scrutinizing FTX. But then, Binance backed out of the deal to buy FTX, citing mismanaged client funds and regulator investigations, and most of FTX's legal team were reported to have left the company. But then, but then, FTX has once again been looking for rescuers, and Tron's Justin Sun says he has a solution. But then, but then, but then, FTX has filed for bankruptcy.
Meanwhile, Binance will follow Gate.io and Kraken's lead and begin conducting proof-of-reserve audits, Coinbase has experienced "network connection issues" amid market turmoil, and Kraken has seen "connectivity issues" , while Crypto. com has suspended USDC and USDT deposits and withdrawals on Blockchain Solana. Ethereum Gas Fees Shoot 10-Fold Amid On-Chain Panic, ETH Turned Deflationary Again, Vitalik Buterin Released Updated Ethereum Roadmap, Tim Draper Sticks To His Earlier Prediction Of €250,000 For BTC, The Mastercard CEO Michael Miebach said it's a long way to go before crypto catches on. and we watch the price of XRP as the final verdict of the court approaches. Circle plans to bring Euro Coin to Solana in early 2023, Beeple announced a collaboration with Solana, a16z launched trusted access to Ethereum that offers 2-second timing, Cathie Wood's Ark Invest bought €21 million worth of Ethereum shares, LG Electronics wants to hire two new CTOs To run its Web3 and blockchain technology operations, Japanese mobile company NTT plans to invest €4 billion in Web3 technology, and the number of Bitcoin ATMs in Canada increased by 28% in one year, while Meta joined the growing list of tech companies that rent van workers.
We found that the US government owns more than 1% of the total bitcoin supply, the Department of Justice seized 50 BTC in its second largest cryptocurrency seizure ever, the US SEC won a lawsuit against LBRY and the US Treasury Department has redesignated sanctions against Tornado Cash citing North Korean involvement. In South Korea, an academic says Seoul must take action to stop Pyongyang from hacking crypto targets, a crypto fraud ring sucked in victims with promises of Rolex watches and ETH giveaways, and the country claimed a cross-border CBDC success, while that the head of the Chinese bank said e-CNY will boost trading. While the outcome of the US midterm elections could have a bigger impact on the future of crypto regulation than many believe, the Central Bank of Russia has released a report that focuses on digital assets and their integration into the traditional financial system, although it is still opposed. the use of cryptocurrencies in regulations and "accounting" scenarios, and Hong Kong's securities regulator has suggested it will go ahead with plans to provide retail investors with access to cryptocurrency futures ETFs. And in Argentina, a businessman and a surgeon were jailed for their role in selling fake tokens that they claimed were "affiliated" with OneCoin.
Jokes!