FTX revives, Binance is Bitzlato's counterparty,
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New FTX head says crypto exchange could be revived: Wall Street Journal.
John J. Ray III, who previously handled Enron’s restructuring, said that despite the accusations of criminal misconduct against former CEO Sam Bankman-Fried and other executives, customers have lauded FTX's technology and said it could be worth reviving the exchange.
“Everything is on the table,” Ray told the Journal. “If there is a path forward on that, then we will not only explore that, we’ll do it.”
The FTX token FTT rose 33% on Binance on the news.
FinCEN lists Binance among the top Bitcoin counterparties of Bitzlato
The United States Financial Crimes Enforcement Network (FinCEN) — a bureau of the Treasury Department — has argued that Binance is linked to the illegal cryptocurrency platform Bitzlato.
In an order published on Jan. 18, FinCEN stated that the Binance cryptocurrency exchange was among the “top three receiving counterparties” of Bitzlato in terms of Bitcoin BTC tickers down $21,103 transactions.
According to the authority, Binance was among the biggest counterparties that received Bitcoin from Bitzlato between May 2018 and September 2022. Other counterparties included Russia-connected darknet market Hydra and the alleged Russia-based Ponzi scheme known as “Finiko,” FinCEN noted.
Bitcoin rose 1% to trade at $21,100. Ether was trading up 0.6% to $1,550.
Bitcoin (BTC) and ether (ETH): The largest cryptocurrency by market value was recently trading around $21,100, up 1.5% over the past 24 hours. BTC regained ground it lost when it dipped the previous day. Ether was recently trading up 0.6% to $1,550. Both BTC and ETH have risen 13% and 7%, respectively, over the past seven days.
Blockchain - NFT
Bitcoin Bridged to Avalanche Surpasses BTC Locked in Lightning Network
Smart contract blockchain Avalanche added support for BTC in its cross-chain bridge in June 2022.
The number of bitcoin (BTC) bridged or ported from the Bitcoin blockchain to the Avalanche smart contract blockchain has surpassed the tally of coins held in the Lightning Network, a second-layer solution for Bitcoin's scalability problems. On Tuesday, the total circulating supply of bridged BTC, or BTC.b, on Avalanche rose to a record 5,700 BTC ($118.6 million), according to data sourced from Dune Analytics. Meanwhile, the number of bitcoin locked in the Lightening Network stood at 4,929 BTC ($100 million).
Binance tightens rules on NFT listings
The exchange will delist NFTs with low trading volume that were listed prior to new KYC rules starting in February.
According to a Jan. 19 announcement, cryptocurrency exchange Binance has tightened its rules for non-fungible token listings. Starting Feb. 2, 2023, Binance will delist all NFTs listed before Oct. 2, 2022 and with an average daily trading volume lower than $1,000 between Nov. 1, 2022 and Jan. 31, 2023. In addition, after Jan. 21, 2023, NFT artists can only mint up to five digital collectibles per day.
Expect better blockchain games in 2023, says Animoca Brands CEO
Animoca Brands CEO Robby Yung believes we will see many great blockchain games released during the first nine months of 2023 as developers begin to deliver after raising funds in 2022.
The celebrated union between blockchain and gaming has encountered several hurdles that have left many wondering if the new sector of crypto and gaming will ever live up to its potential.
Tech Veteran-Backed Web3 Social Platform Plai Labs Raises $32M in Seed Round
The company, founded by former executives of gaming company Jam City and social platform Myspace, aims to combine Web3 and AI to create a unique digital social experience.
Nexo agrees to $45M settlement with SEC and states over earn product
Crypto lender Nexo Capital has agreed to pay $45 million in penalties to the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) for failing to register the offer and sale of its Earn Interest Product (EIP).
The news was announced by the SEC and NASAA in two separate statements on Jan. 19. According to the statement from the SEC, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors.
The additional $22.5 million will be paid in fines to settle similar charges by state regulatory authorities, the report said.
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