Visa Pulls Plug on FTX Deal, New Rugpull, BCH May Become Legal Tender, Binance & Bitget Aim to Help Reduce FTX Impact

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Receive your daily, bite-sized digest of cryptoasset and blockchain-related news – check out the stories that fly under the radar of today’s crypto news.


payment news

  • payment giant Visa Has terminated relationship with collapsed crypto exchange ftxReuters informed of, The financial services company’s official statement said that “we have terminated our global agreements with FTX and their US debit card program is being terminated by their issuer.” He described the situation as “unfortunate”, and added that the company is “monitoring the development closely.”

security news

  • blockchain security company certike informed of Yesterday when its Skynet on-chain monitoring service detected great volatility in price flash token, and that the investigation determined that a >95% drop in the price of the token was the result of a ragpool. About $18.5 million was taken from this event.

news of adoption

  • Bitcoin Cash (BCH) Legal tender could be in St Kitts and Nevis by next March, its prime minister and finance minister Terence Drew said at a conference Saturday. Drew Having said that the decision will follow a process of due diligence and consultation with experts and East Caribbean Central Bank,
  • Hong Kong said it would issue tokenized government green bonds by the end of the year, To an official note. It revealed several pilot programs, one of which is the issuance of a new batch of tokenized green bonds to institutional investors.

exchange news

  • Binance CEO Changpeng Zhao announced a recovery fund to aid liquidity-strapped projects. He tweeted: “In order to mitigate further widespread negative effects of FTX, Binance is creating an Industry Recovery Fund to help projects that are otherwise strong but are in liquidity crisis. More details will be released soon.”
  • bitgate said it has set aside $5 million worth of the Builders Fund, aimed at helping associates, influencers and professional traders who are distressed by the collapse of FTX, Told the announcement. Those associates can apply for financial aid. Bitgate Managing Director Gracie Chen said that the exchange and “many other active builders are still working hard to cultivate in the crypto world. During this dark time, we should join forces, help each other.” And wait for the morning.”
  • Huobi Assistant Habit revealed It has $18.1 million on FTX. Of that, $13.2 million was customer funds, which it said it would cover through unsecured loans of up to $14 million.

regulation news

  • We Congressman Brad Sherman Having said That “efforts by billionaire Crypto Brothers to stop meaningful legislation by flooding Washington with millions of dollars in campaign contributions and lobbying spending have been effective.” He said he planned to work with his colleagues in Congress to examine options for the federal law in the coming weeks.

investment news

  • Layer-1 Blockchain Platform phantom Today Together announced the next wave of its grant program gitcoinA platform for open-source development web3, Through this collaboration, Phantom will allow ecosystem builders within the Phantom Network to participate in a testing round on Gitcoin’s new grant protocol. Gitcoin will work with Phantom Foundation to bolster dapp Development on the network, and enables users to directly support promising projects, said a press release.

Mining News

  • bitcoin (btc) mining firm Canaan Registered net income of $8.6 million in Q3, which is 90% lower than Q2, as well as a decrease of 88% from the same period in 2021, that is, according for the press release. Revenue fell 41% to 230,000 in Q220, while gross profit fell 75% from the $130 million seen in the previous quarter. However, Canaan continues to expand and expand its operations around the world, including research and development projects as well as mining operations, said CEO Nancheng Zhang.

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