Karikari Daniel, Author at Optimisus

Crypto exchange FTX has over $1 billion in cash

FTX crypto exchange claims it has over $1B in cash

December 21, 2022 1 min read

The new management team of bankrupt cryptocurrency exchange FTX has reportedly claimed it has over $1 billion in cash assets held by U.S. financial institutions. The team is also seeking to retrieve millions of dollars in political and charitable contributions made by former CEO Sam Bankman-Fried. FTX has identified $720 million in cash assets in U.S. financial institutions that have been authorized by the U.S. justice department to hold funds,

Israeli government to seize all funds in over 150 crypto wallets that have been blacklisted for allegedly funding terrorist groups

December 19, 2022 1 min read

An Israeli court has ruled that the government can seize all funds in over 150 cryptocurrency wallets that have been blacklisted for allegedly funding terrorist groups. According to local media reports, the Tel Aviv Magistrate Court issued the ruling on December 15, 2021, and it has already allowed authorities to seize an additional $33,500 from wallets linked to Hamas, a militant group classified as a terrorist organization by several countries

Nigeria to pass a law legalizing the use of bitcoin and other cryptocurrencies

December 19, 2022 1 min read

According to a local Nigerian newspaper, the chairman of the House of Representatives Committee on Capital Market and Institutions of Nigeria, Babangida Ibrahim, has stated that the country is planning to pass a law legalizing the use of bitcoin and other cryptocurrencies. If the proposed amendments to the 2007 Investments and Securities Act are passed, bitcoin will be recognized as legal capital for investment in Nigeria. This would be a

The former co-CEO of FTX Digital Markets informed authorities of potential fraud at FTX days before bankruptcy

December 16, 2022 2 mins read

Two days before FTX was forced to close, Ryan Salame, the former co-CEO of FTX Digital Markets (FDM), informed the Securities Commission of the Bahamas (SCB) of potential fraud at the cryptocurrency exchange. According to court records filed on Dec. 14, Salame told the SCB that FTX was transferring customer funds to its sister trading firm Alameda Research to cover financial losses, a move that was not allowed or consented

Binance crypto exchange resumes USDC stablecoin withdrawals on its platform

December 14, 2022 0 mins read

Binance, the world’s largest cryptocurrency exchange, has resumed USDC stablecoin withdrawals on its platform. This follows a “temporary pause” on Tuesday while the exchange carried out a “token swap” that required New York banks to be open in order to allow BUSD to fiat and USDC conversion. On Tuesday, Binance saw at least $5.2 billion worth of stablecoin outflows, its highest ever recorded by on-chain data analytics firm CryptoQuant. Binance’s

ConsenSys intends to keep MetaMask user data for no more than seven days

December 6, 2022 1 min read

ConsenSys, a blockchain software company, clarified that it will only store and retain user IP addresses and wallet data for up to seven days. ConsenSys has announced that it will only store user IP addresses and wallet information for a maximum of seven days, in an effort to address users’ concerns about the handling of their personal information. The company faced criticism in the past for collecting this data. ConsenSys

Bloomberg reports that Alameda invested $1.15 billion in Genesis Digital

December 3, 2022 1 min read

Alameda Research, a trading firm affiliated with the troubled exchange FTX, has invested $1.15 billion in cryptocurrency miner Genesis Digital Assets. According to documents obtained by Bloomberg that identified FTX and Alameda’s venture portfolio, this was Alameda’s and FTX’s largest venture investment, valued at $5.5 billion in an April funding round. Alameda invested in the cryptocurrency miner four times. It invested around $100 million in the miner last August. It

Trader Joe decentralized exchange is deploying Avalanche DEX on Arbitrum

December 2, 2022 1 min read

Trader Joe, a decentralized exchange, is going live on the Ethereum scaling network Arbitrum. Since the company’s founding in 2021, this is Trader Joe’s first deployment on a new chain. According to DeFiLlama, Trader Joe has the highest overall trading volume across all applications on Avalanche, but this volume has significantly decreased since June. In the coming days, Trader Joe will launch on Arbitrum’s testnet, with a mainnet launch anticipated

The Indonesian central bank releases a whitepaper on digital rupiah

December 1, 2022 1 min read

As the country seeks to “advance digital transformation,” Indonesia’s central bank has released a whitepaper outlining plans for its central bank digital currency (CBDC). The central bank, Bank Indonesia, stated in a whitepaper released on Wednesday that Project Garuda, the national initiative to develop a digital rupiah, will be carried out in three stages, with wholesale digital rupiah being examined first. The agency will then test the digital rupiah for

SBF says FTX had a 50% chance if Binance’s CEO, Changpeng Zhao, had not expressed concerns

November 30, 2022 2 mins read

In recent interviews, Sam Bankman-Fried, the founder of the infamous crypto exchange FTX, has spilled quite a bit of tea. The man once known as the crypto mogul has revealed that he has lost almost all of his wealth. SBF told Axios that the last time he checked his bank account, it held $100,000. This represents a more than 99% drop in his net worth, which was once estimated to

Bitfinex has the most Tether (USDT) at 60%, and exchange balances have surpassed the ATH

November 30, 2022 1 min read

Despite losing 1% of its USD peg recently, Tether has 60% of its total supply spread across multiple exchanges, with Bitfinex holding the largest share. Digital assets are being offloaded from exchanges and finding their way into cold wallets as the cryptocurrency market becomes more bearish. However, Bitfinex’s stablecoin inflows are quite different. According to on-chain data provider Glassnode, Tether (USDT) holdings on the exchange surpassed $11 billion on November

Phantom Wallet adds Ethereum and Polygon support