Author: Judith Faith

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Judith Faith

Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry. She is passionate about helping to foster the growth of the industry and believes in the power of blockchain technology to revolutionize the world.

Articles by Judith Faith

Investor David Sacks: SVB Collapse Triggers Bank Run at Another Regional Bank

2 weeks ago 1 min read

Former PayPal executive and tech investor David Sacks has revealed that another bank run is underway at a second regional bank, following the sudden collapse of Silicon Valley Bank. In an interview with UnHerd, Sacks stated that he knew of at least one other bank that was facing mass withdrawals from corporate clients. While Sacks declined to name the bank in question, he stated that there were other regional banks whose stocks had dropped by 20% on Thursday and Friday, indicating that the market was throwing the question of whether the SVB problem would spread. Sacks also noted that the

Binance Converts $1 Billion Industry Recovery Funds to BTC, BNB, and ETH

2 weeks ago 1 min read

Binance, the world’s largest cryptocurrency exchange, has recently converted the remainder of its $1 billion Industry Recovery Initiative funds to native cryptocurrencies such as Bitcoin, Binance Coin, and Ethereum. The move was announced by Binance CEO Changpeng Zhao, who tweeted the address for transparency purposes. The decision to convert the funds was made due to the recent changes in the stablecoin market and the banking industry. Zhao also stated that it was a way to keep the funds safe in a secure asset. While many in the crypto community have supported the move, some have questioned why more assets weren’t

Potential Silicon Valley Bank Collapse Raises Concerns for U.S. Regional Banks

2 weeks ago 2 mins read

The Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) have been at the forefront of discussions regarding the future of Silicon Valley Bank. Former Bridgewater executive and CEO of investment firm Unlimited, Bob Elliot, warns that decisions made regarding SVB could have far-reaching effects on regional banks throughout the United States, putting trillions of dollars at risk of a bank run. In a recent Twitter thread, Elliot shared that nearly a third of all deposits in the US are held in small banks, with around 50% of these deposits being uninsured. While the FDIC insures small deposits in all

Zero-Knowledge Crypto Firm Proven Raises $15.8M in Initial Funding Round

2 weeks ago 1 min read

Proven, a zero-knowledge (ZK) proof developer for exchange and asset management clients, has secured $15.8 million in seed funding. Led by crypto-focused venture capital firm Framework Ventures, the round also saw participation from Balaji Srinivasan, Roger Chen, and Ada Yeo. The capital will be used to expand the Proven team and scale infrastructure. Proven’s technology leverages ZK proofs and quantitative solutions, enabling asset managers, stablecoin issuers, exchanges, and custodians to prove their assets and liabilities to potential customers and regulators without publicly disclosing sensitive information. The company’s “Proof of Solvency” can be run daily for increased transparency. Following a year

Huobi Token Plummets 93%, Justin Sun Points to Liquidations and Market Volatility

2 weeks ago 1 min read

The Huobi Token (HT), the native token of the Huobi exchange, suffered a flash crash in the early hours of March 10. The price of HT fell from around $4.70 to below $0.40 within minutes, before recovering to around $3.95. The crash was attributed to a massive liquidation event that caused a cascade of forced liquidations in spot and contract HT markets. Despite the severity of the crash, Huobi advisor and TRON founder Justin Sun brushed it off as “market behavior.” Sun reassured users that the exchange and all funds were safe, and that Huobi would fully bear any losses

Transform Ventures introduces new blockchain holding company with $100M assets under management

3 weeks ago 1 min read

Transform Ventures and Alpha Sigma Capital’s parent company have recently co-invested in a new holding company, Alpha Transform Holdings (ATH), with the aim of accelerating blockchain investment and innovation. The holding company will be home to two new funds, the Alpha Liquid digital asset fund and the Aegean Fund, and will have $100 million in assets under management. The assets that will be included in ATH have been merged from Transform Ventures and Alpha Sigma Capital’s parent company, which includes a majority ownership in Content Syndicate, a Transform Ventures-backed content services company. ATH’s three focus areas include delivering suites of

FTX Legal and Accounting Fees Skyrocket to Nearly $40 Million in One Month

3 weeks ago 2 mins read

Bankruptcy lawyers for embattled crypto exchange FTX have submitted a hefty invoice for their work, while creditors are seeking their BTC back from Grayscale. The phalanx of lawyers working with FTX on its bankruptcy case billed a whopping $38 million for their expenses in January. The epic bill is for a team of hundreds of lawyers, consultants, paralegals, and accountants, according to court documents. FTX administrators have retained law firm Sullivan & Cromwell as counsel. Furthermore, Quinn Emmanuel Urquhart & Sullivan were retained in addition to Landis Rath & Cobb. The firms were acting as special counsel for the proceedings.

Brazil Launches Pilot Program for Digital Currency with Public Access Set for 2024

3 weeks ago 2 mins read

The Central Bank of Brazil has taken a significant step towards the development of its central bank digital currency (CBDC) by starting testing on its pilot project. This move is expected to foster an increased inclusion of individuals in the financial sector. According to Fabio Araujo, the coordinator of the CBDC project at the Brazilian central bank, the widespread use of the digital real is expected to happen in 2024 after the completion of the pilot. The testing phase will include individuals buying and selling federal bonds and subsequent evaluation. The Brazilian CBDC will be a blockchain-based payment that supports

Coinbase Faces Backlash for Failing to Compensate Customers Affected by Security Breach

3 weeks ago 1 min read

Coinbase, the largest cryptocurrency exchange in the United States, is currently embroiled in a dispute with a hacking victim over a security breach that led to customer losses. Bloomberg reported on March 7 that the company had refused to take responsibility for the incident or refund the affected account holder. Jared Ferguson, a resident of New York, lost $96,000 in May 2022 and subsequently sued Coinbase. Ferguson claims that Coinbase’s security measures failed to flag “obviously fraudulent and unauthorized transactions,” resulting in his account being drained within eight hours. He received an SMS message from his mobile carrier about a

Singapore Police Investigate Terraform Labs and Fugitive Founder Do Kwon

3 weeks ago 1 min read

The founder of Terraform Labs, Do Kwon, is on the run, and his woes seem to be deepening. The Singapore Police have launched an investigation into Terraform Labs, a Singapore-registered company, and its founder. The police have confirmed that the inquiry is ongoing, and investigations have commenced in relation to Terraform Labs. However, Kwon’s location remains unknown, with reports indicating that he is hiding in Serbia. Kwon is facing allegations from regulatory authorities worldwide, with the US Securities and Exchange Commission (SEC) charging him with orchestrating a multi-billion dollar crypto asset securities fraud. Interpol has also issued a red notice

Binance’s regulatory compliance under scrutiny as WSJ reveals ties to unknown US unit

3 weeks ago 1 min read

According to a recent report by the Wall Street Journal, Binance, the world’s largest cryptocurrency exchange, allegedly did not fully disclose its control over Binance.US, an independent unit set up to comply with US financial regulations. Internal documents and communications reviewed by the WSJ reveal that Binance programmers in Shanghai had control over the software code that supported Binance.US users’ digital wallets, giving them potential access to US customer data. While Binance has denied mixing user data, the revelations could damage the company’s position with US regulators. The report also alleges that Binance did not disclose its partnership with BAM

Polygon Launches Zero-Knowledge Identity Verification System

4 weeks ago 1 min read

Polygon, a blockchain company that specializes in scaling systems for Ethereum, has launched a new zero-knowledge (ZK) technology-based identification tool called Polygon ID. The company has created the tool to help users verify their identities and credentials without revealing sensitive information. Zero-knowledge technology is a form of cryptography that eliminates the need for users to provide personal information routinely to different online applications or websites. This development has been seen as a significant use case for blockchains for quite some time. Polygon ID’s design ensures that identity holders have claims stored in their wallets, while verifiable credentials are cryptographically signed