Author: Ujunwa Juliet Ihiasota

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Ujunwa Juliet Ihiasota

I am a dedicated crypto and blockchain content writer who is vision-oriented, diligent, smart, and self-motivated. I have over a decade of self-writing experience and five years of experience as a professional writer. I hope to inspire other women into this ever-evolving field.

Articles by Ujunwa Juliet Ihiasota

Turkey seizes FTX assets in the country

22 hours ago 2 mins read

Turkey’s Financial Crimes Investigation Board seized assets belonging to Sam Bankman-Fried following an investigation into FTX’s operations in Turkey. Turkey’s MASAK issued an official announcement outlining preliminary findings and actions taken against Bankman-Fried. On November 14, MASAK launched an investigation. The Turkish investigation found that FTX failed to securely store user funds, embezzled customer funds through shady transactions, and manipulated market supply and demand by allowing customers to buy and sell listed cryptos that were not backed by actual crypto holdings. Following these findings, MASAK seized Bankman-Fried’s and affiliates’ assets after determining strong “criminal suspicion” on the aforementioned points. The

MakerDAO votes to remove renBTC from stablecoin collateral vaults.

23 hours ago 1 min read

MakerDAO, the Dai stablecoin issuer, passed a governance proposal to remove renBTC as collateral and reduce exposure to what the DAO considers a risky asset. RenBTC is a bitcoin-wrapped asset created by the Alameda Research-backed project Ren Protocol. Users can mint the dai stablecoin by depositing excess cryptocurrency collateral with MakerDAO. MakerDAO will allow users to deposit renBTC tokens in specialized “RENBTC-A” vaults and mint dai in December 2020. Alameda Research, the sister trading firm of the FTX exchange, acquired the Ren project earlier this year and has been funding its development quarterly. Following the bankruptcy of Alameda and the

Russia wants to establish a government-run crypto exchange

2 days ago 1 min read

A plan developed by Russian legislators could result in the establishment of a state-run cryptocurrency exchange. Members of the State Duma, the Russian parliament, have reportedly “started to develop a draft amendment” that calls for “creating a national crypto exchange in Russia,” according to Vedomosti. According to a “source close to the State Duma,” discussions about the exchange have been going on since “mid-November,” according to the media source. As per the sources, MPs “discussed” the issue with “market participants,” who are probably members of the Russian crypto industry. The discussion of the proposed amendment was confirmed by one of

Philippine Senator: Chinese mafia pressuring Filipinos to work for crypto scams

2 days ago 1 min read

The official claims that the organized crime gangs target both those who are scammed and those who are trafficked. Philippines Senator Risa Hontiveros announced on November 21 during a government plenary meeting that twelve Filipinos had been saved from a cryptocurrency scam allegedly run by the Chinese mafia in Myanmar. Hontiveros claimed that a reported Chinese organized crime gang forced the 12 Filipinos who were saved by a network of nongovernmental organizations to make contact with people online and persuade them to invest in phony cryptocurrency sites. According to reports, the Filipinos were recruited in Thailand for call center and

Genesis denies ‘imminent’ bankruptcy filings

4 days ago 1 min read

The lending company claims to be having “constructive conversations with creditors” and hopes to resolve the situation without filing for bankruptcy. Genesis cryptocurrency lending company has denied rumors that it is planning an “imminent” bankruptcy filing if it fails to cover a $1 billion shortfall caused by the collapse of crypto exchange FTX. According to Bloomberg report, the firm has reportedly had difficulty raising funds for its lending unit and has informed investors that it will have to file for bankruptcy. A Genesis spokesperson told Cointelegraph that the company had no plans to file for bankruptcy “immediately” and that it

Vitalik Buterin: to build trust, centralized exchanges could use cryptographic proofs like ZK-Snark

4 days ago 1 min read

Vitalik Buterin, Ethereum co-founder and a well-known blockchain programmer, published a blog post about how centralized exchanges can become trustless. Buterin believes that the best proof of the reserves is a zero-knowledge succinct non-interactive argument or knowledge (ZK-SNARK). On November 19, 2022, Vitalik Buterin published a blog about how centralized exchanges or CEXs can use cryptographic proofs to assure the public that the funds held on-chain cover what they owe. Buterin wrote that, in addition to the traditional finance or TradFi measures of auditors, corporate governance, licensing, and due diligence, CEXs could implement a system that prevents them from withdrawing

FTX-owned Liquid exchange has halted all trading following FTX’s bankruptcy filing

5 days ago 1 min read

The shutdown of Liquid comes just five days after the exchange suspended all withdrawals due to FTX’s bankruptcy filing. Liquid has suspended all trading operations on its platform in accordance with FTX Trading’s instructions, the company announced on Twitter on November 20. According to the statement, Liquid Exchange halted “all forms of trading” due to the operation of the Chapter 11 process in Delaware courts. The exchange suspended all withdrawals on its platform five days ago, citing compliance with the requirements of voluntary Chapter 11 proceedings. Japan’s Financial Services Agency had previously requested that another FTX subsidiary, FTX Japan, suspend

Albanian and Turkish officials agree on Thodex CEO’s deportation

6 days ago 1 min read

According to the BBC, Faruk Fatih Ozer’s deportation was agreed upon by Albanian and Turkish officials, and he has 15 days to appeal the decision. The 27-year-old and his struggling cryptocurrency trading platform, Thodex, made headlines last year when he suspended trading and shut down the website. In addition, it was one of the largest platforms in Turkey at the time, so the investors suffered a significant setback. Furthermore, several reports claim that Ozer fled to Albania after stealing $2 billion from his customers. After hiding out for nearly a year, he was apprehended by police officers in the Albanian

The transfer of FTX’s digital assets was mandated by the Bahamas’ securities regulator

1 week ago 2 mins read

The Bahamian Securities Regulator has clarified that on November 12, it instructed FTX to transfer its digital assets to a wallet that belonged to the commission. The Securities Commission of The Bahamas (SCB) announced that on November 12 it had mandated the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet it owns. The SCB claimed in a statement dated November 17 that it had moved the assets to a “digital wallet controlled by the Commission, for safekeeping,” in accordance with the authority of a Supreme Court order. SCB defended its decision from last week,

350,000,000 XRP transferred from Binance to an unknown wallet

1 week ago 1 min read

Around 350 million XRP were transferred from Binance crypto exchange to an unknown wallet. The movement was reported by the blockchain tracking service Whale Alert. Furthermore, around 465 million XRP were moved by whales and exchanges. The total value of this cryptocurrency is staggering: $134,818,654. The deal was completed on November 16. Overall, XRP whale activity has been high over the last few days; on Wednesday, about 500 million Ripple-related tokens were exchanged. This includes the Binance transfer that was previously mentioned. Three transactions carrying 115 million XRP in lump sums of 30 million and 40 million coins were also

Crypto lending platform SALT suspends withdrawals due to FTX effect

1 week ago 1 min read

According to a company email sent to customers, the cryptocurrency lending platform Salt has paused withdrawals and deposits due to FTX effect. In a message attributed to CEO Shawn Owen, the company stated that “the collapse of FTX has impacted our business.” The full extent of the exposure, however, was not disclosed in the message. SALT CEO stated, “Launched in the first few months of 2018, SALT Lending is a service that facilitates loans secured by cryptocurrency. To put it another way, consumers may get a loan without having to liquidate their cryptocurrency.” In September 2020, the Securities and Exchange

BlockFi is rumored to be planning a bankruptcy filing following the fall of FTX

1 week ago 1 min read

The cryptocurrency lender BlockFi has disclosed that it has significant exposure to FTX. The demise of the FTX Empire shocked many in the crypto community. The collapse of FTX also had an impact on many users and projects. And the crypto lending platform BlockFi is one of them. BlockFi suspended withdrawals in the midst of the chaos. On November 11, users were notified that the New Jersey-based exchange would be restricting platform activities. In a letter circulated on Twitter, BlockFi expressed shock and dismay at the collapse of FTX and Alameda. According to the WSJ, BlockFi is preparing for bankruptcy