What Occurred in Crypto Right this moment? [Oct. 10]
From Bitmain freezing employees wage to FTX declaring it faked its insurance coverage fund, here’s a 3-minute breakdown of every little thing essential that occurred in crypto at this time.
– Co-author: Davier M
Hey once more crypto comrades, CoinMarketCap is again to momentarily take your thoughts off the bear-induced blues and infinite DeFi hackathon.
As all the time, a lightning-round recap of the need-to-know crypto information:
Alright, let’s unpack all that!
Shock, shock – FTX’s insurance coverage fund was bogus! In court docket, Gary Wang admitted they simply made up a random quantity for the steadiness. Actually makes you marvel what different phony figures had been used (if not all).
A throwback to the great outdated days when FTX’s integrity was as stable as its $100 million insurance coverage fund:
Brazil is prepping a brand new regulatory sandbox for tokenizing belongings in 2024. Nothing like stifling innovation with bureaucratic purple tape! However they swear it is to “foster crypto development.”
Whereas the UK FCA added main exchanges like Huobi, KuCoin and Bybit to its warning listing, Binance introduced steps to adjust to UK guidelines.
Bitcoin mining chips producer, Bitmain, froze worker salaries, however I am certain staff do not thoughts lacking a couple of paychecks for the higher trigger. It isn’t like they’ve payments to pay or something.
And that is all for now compadres! Hasta mañana – CoinMarketCap shall be again with extra crypto telenovelas!
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