Introducing the Weekly Update Section on Binance Feed
We are excited to announce a new section on our Binance feed - a weekly report of the most important events and developments in the crypto market. This report, which will be released every Monday, will keep you up-to-date with the latest news so you can stay informed while focusing on your DCA strategy.
Genesis & its subsidiaries filed for Chapter 11 bankruptcy protection in New York. The bankruptcy filing shows Genesis owes $3.5 Billion or more to over 100k creditors, including Gemini, Bybit's investment arm Mirana, Decentraland & many more.
In an attempt to strengthen its finances, DCG is looking to sell Coindesk. In response to the current market environment, DCG also suspended dividends to shareholders until further notice.
U.S. authorities seized the crypto website Bitzlato as part of international enforcement action. The exchange's founder, Bitzlato, was arrested in Miami for alleged money laundering.
The founders of 3AC, Zhu Su & Kyle Davis & the founders of CoinFlex, plan to launch a new project-GTX, raising a seed fund of $25m.
In his first public interview since taking over the failed cryptocurrency exchange, John J. Ray III said he's open to rebooting operations. He said he has set up a task force to explore restarting FTX.
Attorneys handling FTX bankruptcy recovered $1.7 billion of cash, $3.5 billion of liquid cryptocurrency and FTT tokens, and $0.3 billion of liquid securities.
196 out of the 535 members in the U.S. Congress received the money in the form of political donations from SBF & his team at FTX, as per the Coindesk report. This 37% of Congress members receiving donations from FTX will decide U.S. cryptocurrency regulations.
Russia & Iran are looking into developing a stablecoin that would be backed by gold as a means of payment in transactions involving international trade. National Australia Bank to create a stablecoin called $AUDN on $ETH & $ALGO, backed one-to-one with Australian fiat.
Japan is urging the world's regulators to treat crypto exchanges as strictly as they do banks, adding to the calls for stricter rules following the collapse of FTX.
Regarding crypto, I.T. Minister Shri Rajeev Chandrasekhar said: There is nothing today that outlaws crypto as long as you follow the legal process. So if you want to invest in crypto, make sure you go through the RBI, get your LRS eligibility, and the dollars as per the rules.
We hope you find this weekly update informative and helpful in keeping up with the market.
Stay tuned for more updates and insights by following us on Binance Feed! We look forward to bringing you more valuable content in the future.
Crypto India Team
