ByBit Rolls Out $100M Support Fund to Help Institutional Traders

More and more leading crypto firms aim to help traders and crypto-related projects affected by the collapse of FTX. ByBit, a cryptocurrency derivative margin trading platform established in 2018, has launched a $100 million support fund for institutional traders. According to the announcement shared on November 24th, the fund is available to market makers and […]

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Crypto Exchange Binance Rolls Out Industry Recovery Initiative

Industry Recovery Initiative (IRI) is set to provide financial support to Web3 projects dealing with financial issues. Binance, the largest crypto exchange in terms of daily trading volumes, has established a Web3 Industry Recovery Initiative (IRI). According to the blog post shared on November 24th, the IRI aims to provide financial support to promising Web3 […]

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VARA Suspends FTX’s License to Operate in Dubai

After FTX collapse, regulators across the globe are closing their doors to the crypto exchange. The Dubai Virtual Assets Regulatory Authority (VARA), one of the world’s first independent regulators for virtual assets incorporated in Dubai, has suspended FTX’s license allowing its preparation to operate in Dubai. According to VARA, the authority revoked FTX’s MENA Minimum […]

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CrossTower is Looking to Acquire Other Crypto Companies Besides Voyager Digital

CrossTower is looking to acquire crypto companies with a “good set of customers” and “a good balance sheet.” CrossTower, a Jersey City-based cryptocurrency trading platform established in 2020, is reportedly planning other crypto company acquisitions. According to the Bloomberg report shared on November 23rd, CrossTower chief executive officer (CEO) Kapil Rathi stated that the company […]

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Sam Bankman-Fried Sends an Apology Letter to Former FTX Employees

In the letter, Sam Bankman-Fried claims that he is deeply sorry “about what happened.” Former FTX CEO Sam Bankman-Fried (also known as SBF) has reportedly sent apology letters to former FTX employees. According to the report shared by CNBC, in the letter, Bankman-Fried stated that he is “deeply sorry about what happened” and he “froze […]

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Sam Bankman-Fried Sent an Apology Letter to Former FTX Employees

In the letter, Sam Bankman-Fried claims that he is deeply sorry “about what happened.” Former FTX CEO Sam Bankman-Fried (also known as SBF) has reportedly sent apology letters to former FTX employees. According to the report shared by CNBC, in the letter, Bankman-Fried stated that he is “deeply sorry about what happened” and he “froze […]

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South Korean City of Busan Reconsiders Its Plans to Launch Crypto Exchange

Following the collapse of cryptocurrency exchange FTX, authorities in Busan are reevaluating their plans to launch a digital asset exchange. The city of Busan, a large port city and the second-largest city in South Korea, is reportedly reconsidering its plans to establish a cryptocurrency exchange. According to the news report shared by the local news […]

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Bitpanda Receives Crypto Custody License from German Financial Authority

Bitpanda is reportedly the “first European retail investment platform” to secure a crypto custody license from BaFin. Bitpanda, a Vienna-based crypto exchange established in 2014, has obtained a crypto custody license from German Federal Financial Supervisory Authority (BaFin). According to the blog post shared on November 22nd, the company claims to be the “first European […]

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Coinbase Brian Armstrong Claims Crypto Exchange Holds Around 2M Bitcoins

Coinbase’s Bitcoin holdings are worth around $39.9 billion. Coinbase, an American publicly traded company that operates a cryptocurrency exchange platform established in 2012, is reportedly holding around 2 million Bitcoins (BTC). According to the Twitter thread shared by Coinbase founder and CEO Brian Armstrong, all of Coinbase’s Bitcoin holdings are worth around $39.9 billion.  Did […]

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Crypto Exchange Bitget Announces Registration in Seychelles

Along with receiving registration in Seychelles, Bitget aims to expand its workforce to 1200 employees by the first quarter of 2023. Bitget, a cryptocurrency exchange and digital assets trading platform established in 2018, has been registered in Seychelles. According to the press release shared on November 22nd, the registration was made under the 2016 International […]

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