Weekly Update: 29 Dec 2022
1) More than $19b in crypto assets left centralized exchanges since FTX’s collapse [Bitcoin.com]
– Between Nov 5 to Dec 26, bitcoin, ethereum, and stablecoin owners removed roughly $19.19 billion in crypto assets from centralized exchanges, according to cryptoquant.com.
2) Japan plans to allow local listing of ‘foreign’ stablecoins such as USDT and USDC [Nikkei]
– Japan’s Financial Services Agency (FSA) is seeking feedback on new regulations that would allow stablecoins issued outside the country to be listed on local exchanges.
3) Brazil’s securities regulator allows investment funds to invest in crypto [CoinDesk]
– The Brazilian Securities and Exchange Commission (CVM) on Friday approved the ability for investment funds to include crypto assets among their holdings.
4) Bitkeep points to malicious APK packages for multi-million-dollar exploit [Yahoo Finance]
– Multi-chain crypto wallet BitKeep reported a hacking incident that resulted in users losing millions. Preliminary investigation points to malicious APK package downloads.
5) Binance CEO CZ tries to reassure customers through email [Yahoo News]
– CZ has sent a ‘personal’ email to retail investors, assuring that Binance keeps accounts separate and conducts “a daily reconciliation” of all crypto assets.
6) Crypto market maker Auros misses $7.5 million Maple Finance loan repayment [The Block]
– Auros missed a repayment for a $7.5 million stablecoin loan on Maple Finance. Auros filed for bankruptcy protection after losing access to about $20 million of funds it held on FTX.
7) Crypto exchange Kraken to shutter its Japan operations after global layoffs [CNBC]
– It is the second time Kraken has left the Japanese market citing a combination of “current market conditions in Japan” and a “weak crypto market globally” as the reasons behind its decision.
8) FTX paid for Blockfolio deal mostly in FTT token it invented [Bloomberg]
– FTX paid roughly $84 million in 2020 to take a majority stake in Blockfolio. About 94% was paid in FTT. FTX was reported to finance it with a mix of cash, crypto, and equity back then.
9) FTX’s Sam Bankman-Fried borrowed from Alameda to buy Robinhood shares [CoinDesk]
– SBF borrowed hundreds of millions of dollars from Alameda Research to purchase his stake in trading app Robinhood Markets (HOOD), according to court documents.
10) Russia’s largest bank Sber issued gold-backed digital financial assets [Cointelegraph]
– Sber reported the first issue of gold-backed digital financial assets (DFAs). The bank considers DFAs to be a “great alternative” to investments amid de-dollarization.
