Today in Crypto:  Alameda Research Ex-Chief executive officer Hires an old SEC Chief to protect Her, 63 Arrested in Crypto Money Washing Situation, KuCoin’s and ByBit’s Proofs of Reserves

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Legal news

  • Ex-Chief executive officer of Alameda Research, parents company from the collapsed FTX exchange, Caroline Ellison, hired Stephanie Avakian, former enforcement division chief in the US Registration (SEC), to represent Ellison as well as other lawyers at Avakian’s firm, WilmerHale, Fortune reported, citing people acquainted with the problem. 
  • Police in Inner Mongolia have arrested 63 people for washing 12 billion yuan ($1.7 billion) of cryptocurrency, the South China Morning Publish reported. Beginning in May 2021, the audience collected illicit funds online pyramid schemes, fraud, and gambling, and converted the proceeds into tether (USDT), it stated.

Exchange news

  • Audit firm Mazars released a study about KuCoin’s Evidence of Reserves to look for the total collateralization ratio of the asset holdings, concluding that BTC, ETH, USDT, and USDC reserves are overcollateralized, at 101%, 100%, 102%, and 101%, correspondingly. The announcement provided the hyperlink fully report and added KuCoin users could verify their assets were incorporated within the report individually.
  • ByBit folded out a method because of its people to verify the assets locked in its reserves. Per the announcement, by utilizing Bybit Evidence of Reserves, users can verify the total amount of the assets within the exchange via Merkle Tree, the total amount and possession from the wallet addresses the exchange discloses, and also the reserve ratio.

Payments news

  • Crypto payments application MoonPay guaranteed registration using the UK’s Financial Conduct Authority (FCA), per the regulator’s register.

Blockchain news

  • Router Protocol, an infrastructure layer enabling communication between blockchains, announced the testnet integration of USD gold coin (USDC) issuer Circle’s Mix-Chain Transfer Protocol to create USDC interoperable. The pr release stated that Mix-Chain Transfer Protocol is presently on testnet for Ethereum and Avalanche with a lot more chains for example Solana to follow along with in 2023. Therefore, the combination is survive testnet where developers can enable users to maneuver USDC between Ethereum’s Goerli Testnet and Avalanche’s Fuji testnet.

Gaming news

  • Non-fungible token (NFT) gaming platform Balthazar DAO guaranteed a $two million Private Round Token Purchase, having a $60 million fully diluted valuation. It’s elevated as many as $5.six million since launching this past year, stated a comment. Investors include Animoca Brands, IDG Capital, Tezos Foundation, KuCoin Labs, Fantom Foundation, Gandel Invest, Hive Empire Capital, yet others.
  • Gaming blockchain Oasys announced the entire completing its mainnet launch process, along with the report on its native token OAS on five exchanges: OKX, KuCoin, ByBit,, and Huobi. Within the third phase of their mainnet launch, Oasys integrated essential ecosystem components for consumer experience, such as the launch of Oasys-Hub, a portal for the treating of key activities within its ecosystem, it stated.
  • Reality+ has partnered with OTZ Sports to produce Own The Zone, an formally licensed FIFA World Cup Qatar 2022 Web3 game “that gives fans an opportunity to win limited-edition digital collectibles and real-world prizes,” stated the pr release. The Web3 platform is operated by the Hedera network and Hedera Token Service (HTS).  Wallet creation and minting happen during registration and game play.

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