FTX hacker may be former employee!

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Markets & News

FTX hacker may be a former employee, says Sam Bankman-Fried (3 minute read)Troubled cryptocurrency exchange FTX revealed that it lost $650 million in a hack a few hours after filing for bankruptcy. During an exclusive interview with Tiffany Fong a few hours ago, former CEO Sam Bankman-Fried revealed that the hacker might be a former employee. He stated that; “I’ve narrowed it down to like eight people. I don’t know which one it was. It was either a former FTX employee or someone who installed malware on a former employee’s computer.”

Bitcoin Rises Toward $17K Despite Investor Unease (5 minute read)Bitcoin continued its surge from Monday, despite ongoing investor unease over FTX fallout, central bank monetary hawkishness and the potential impact of mass protests in China over the country's harsh covid restrictions. Bitcoin was recently trading over $16,979, up nearly 4.5% during the previous 24 hours and its highest point in about two weeks. BTC has shown remarkable resilience over the past month.

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Tech

FTX-backed DEX Serum calls itself 'defunct,' promotes community fork (2 minute read)Serum, a decentralized crypto exchange backed by FTX, notified its 215,000 Twitter followers the project is “defunct” after the crypto exchange giant's sudden collapse — while pointing users towards a community-led fork of the project. "The Serum program on mainnet became defunct" following FTX's implosion, Serum tweeted. "As upgrade authority is held by FTX, security is in jeopardy, leading to protocols like Jupiter and Radium moving away,” it added, referring to two DeFi projects on the Solana blockchain.

Dogechain: Dogecoin’s Tag-Along Sidechain (4 minute read)Dogecoin (DOGE), the silly and popular meme coin often associated with Elon Musk, has experienced much volatility in its price. The popularity of the coin has led to a remarkable increase in adoption, replacing Cardano’s ADA as the sixth-largest cryptocurrency in the world. It has also garnered attention from other projects, including one called Dogechain.

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Misc

Binance Reenters Japan With the Acquisition of SEBC Crypto Exchange (3 minute read)Binance has announced that it has fully acquired the Sakura Exchange BitCoin (SEBC): a Japanese-registered crypto exchange service provider. The acquisition marks the beginning of Binance’s return to the Japanese market as a Japan Financial Services Agency (JFSA) regulated entity.

Centralization Harms Crypto. But It’s Here To Stay. (4 minute read)Although the collapses of centralized crypto companies caused severe damage in 2022, crypto’s reliance on centralized platforms is not going to decrease any time soon. One thing is certain: a lot has happened in crypto in this regard. DeFi (decentralized finance) is a prime example of how the crypto sphere came up with many useful innovations in recent years. However, as we look back at 2022, it is primarily centralized crypto applications that will stick in our minds. And not in a good way.

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