R2 money

The committee chair cited crypto exchange FTX’s “alarming fraud”, liquidity crunch, and bankruptcy as an example of financial risk Treasury and regulators should address. Sherrod Brown, chair of the United States Senate Banking Committee, has called on Treasury Secretary Janet Yellen to work with financial regulators and lawmakers on comprehensive crypto legislation “in the wake of FTX’s implosion.” In a Nov. 30 letter to Yellen, Brown requested the Treasury Secretary coordinate with regulators to address crypto based on recommendations from the Financial Stability Oversight Committee, or FSOC. The committee chair cited crypto exchange FTX’s “alarming fraud”, liquidity crunch, and bankruptcy as an example of financial risk that should not “spillover into traditional financial markets and institutions.” “I ask that you coordinate with the other financial regulators to further work on the recommendations from the FSOC Report, including the development of legislation that would creat...

The messaging platform is building a set of decentralized tools, including noncustodial wallets and decentralized exchanges. Telegram is set to build a set of decentralized tools, including noncustodial wallets and decentralized exchanges, according to founder Pavel Durov via his Telegram channel on Nov. 30. The initiative is a response to the recent FTX collapse, said Durov, as the industry ended up being concentrated in the "hands of a few to abuse their power. As a result, a lot of people lost their money when FTX, one of the largest exchanges, went bankrupt." This announcement comes weeks after the launch of Fragment, a decentralized auction platform for unique usernames based on The Open Network, or TON, a layer-1 blockchain. According to Durov, Fragment has seen $50 million in usernames sold in less than a month. Besides founding Telegram and Fragment, Durov was also behind the first official version of the TON blockchain. He stated about the decentralized new tool...

Expectations of stringent regulation and further contagion from FTX continue to weigh on ETH price, but derivatives are showing a modest improvement in sentiment. Ether ( ETH ) rallied 5.5% in the early hours of Nov. 29, reclaiming the critical $1,200 support. However, when analyzing a broader time frame, the 24% negative performance in the past 30 days significantly impacts investors' sentiment. Moreover, investors’ mood worsened after BlockFi filed for bankruptcy on Nov. 28. Newsflow remained negative after the United States Treasury Department's Office of Foreign Assets Control (OFAC) announced a settlement with Kraken exchange for "apparent violations of sanctions against Iran." In a Nov. 28 announcement, the OFAC said Kraken had agreed to pay more than $362,000 as part of a deal "to settle its potential civil liability." Moreover, on Nov. 28, institutional crypto financial services provider Silvergate Capital denied rumors of significant exposure ...

The project shared that “a community-wide effort to fork Serum is going strong,” however. The Solana-based decentralized exchange (DEX) has notified its community that the collapse of its backers — Alameda and FTX — has rendered its program “defunct”.  The team behind the project shared that “there is hope”, in spite of its ongoing challenges, because of the community option available to "fork" Serum .  What's next for @ProjectSerum With the collapse of Alameda and FTX, the Serum program on mainnet became defunct. As upgrade authority is held by FTX, security is in jeopardy, leading to protocols like @JupiterExchange and @RaydiumProtocol moving away from Serum. — Serum (@ProjectSerum) November 29, 2022 According to the announcement, “a community-wide effort to fork Serum is going strong”. OpenBook, the community-led fork of the Serum V3 program, is already live on the Solana Mainnet with over $1M daily volume, supported by continuous efforts to expand it and...

Bullish on Bitcoin but afraid of futures liquidations? Here is how pro traders use options to cast safer bets. Bitcoin ( BTC ) bulls were hopeful that the Nov. 21 dip to $15,500 would mark the cycle bottom, but BTC has not been able to produce a daily close above $17,600 for the past eighteen days.  Traders are clearly uncomfortable with the current price action and the confirmation of BlockFi's demise on Nov. 28 was not helpful for any potential Bitcoin price recovery. The cryptocurrency lending platform filed for Chapter 11 bankruptcy in the United States a couple of weeks after the firm halted withdrawals. In a statement sent to Cointelegraph, Ripple's APAC policy lead Rahul Advani said he expects the FTX exchange bankruptcy to lead to greater scrutiny on crypto regulations ." Following the event, several global regulators pledged to focus on developing greater crypto regulation. Unfortunately, there is no way to know when investors' sentiment will improve and...

“The use of the designation "VERSE" constitutes an infringement of our client's trademarks under German trademark law,” Block’s legal counsel said in a letter to Bitcoin.com. Digital payments company Block Inc. is pursuing legal action against Roger Ver’s Bitcoin.com over alleged trademark infringement involving its newly launched Verse token, which concluded a $33.6 million private sale in May 2022.  In a letter addressed to Bitcoin.com CEO Dennis Jarvis and the company’s legal counsel Joseph Collement, lawyers representing Block claimed that Bitcoin.com’s use of “Verse” constituted trademark infringement under German trademark law. The letter, dated Aug. 10, 2022, was a follow-up to a July 4, 2022 notice in which Block’s legal counsel, Bird & Bird, first laid out its trademark infringement case in Germany. A person familiar with the matter shared the letter with Cointelegraph. The alleged trademark violation stems from Block’s acquisitions of Verse Technologies ...

Though some officials have removed all traces of their deals with FTX, the firm's branding still appears on a few sports venues and merchandise. Before its liquidity issues and bankruptcy filing in November, FTX was well known for its prolific stance on making sponsorship deals. Even with many in and out of the space now associating the exchange with failed financial institutions, traces of the promotional glitter bomb it has unleashed on the world aren’t likely to go away anytime soon. In Abu Dhabi, attendees for the Gumball 3000 motor rally in November noted on social media that wristbands for the event and more than one of the vehicles bore FTX’s logo, as did advertisements around the city. The crypto exchange did not appear as a sponsor on the event’s website at the time of publication. Race weekend in Abu Dhabi Didn’t know FTX also sponsored Gumball 3000. Lol good old days when I used to feel proud to see FTX man I’m in tears. My $ftt RIP Gotta respect constant changes...