Malaysia hits crypto payment firm Simplex with regulatory warning - cyptoranking.com

2024-05-01

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The reason order books demand such high volume and speed is that thousands of programmatically placed orders can take place every second, whether they’re filled or not. “No blockchain can support that,” Julio insists. “StarkWare and all the rest of the [layer-2s] can’t come close to the amount of performance that’s needed for that.” According to blockchain investigator ZachXBT, a number of SIM-swap attacks targeting Friend.tech users occurred on Oct. 4. Victims reported having their accounts compromised even after taking precautions like enabling two-factor authentication. Malaysia hits crypto payment firm Simplex with regulatory warningAlternatively, the bulls could invalidate that bearish prediction if Shiba Inu’s price can reclaim $0.00001. But that seems far fetch, as 153,700 addresses had bought 68.5 trillion SHIB at the average price of $0.000008. If they sell, SHIB’s price will likely retrace. ThorSwap, by contrast, is fully public, and even armchair analysts can track the funds swapped between the chains. This has left some question as to why the attacker would bother with the swaps.

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Chainlink Automation: Smart and Secure Let us examine in more detail a few benefits that may accrue from hosting apps and websites on blockchains. Is Coinhako legal in Singapore?As mentioned above, a DAO is an organization where decisions get made and voted on by members. Usually, the proposal will only pass once the majority of stakeholders approve it. Anyone can participate just by owning a token. The ones with the most tokens have more influence in the proposal system. Users are rewarded in ankrETH. What does ankrETH represent, and how is its value determined?

Only deployed less than $30m out of a $1 billion “recovery fund”. Not even a generous act on their behalf; they were planning to scoop up companies for pennies on the dollar.” FTX recovers $7.3 billion in assets, boosting the value of its bankruptcy claims.Photo by Bybit on Flickr/ CC BY 2.0According to a Wednesday report by digital assets platform Matrixport, the market value of bankruptcy claims against crypto exchange FTX has more than tripled this year. This comes ahead of the founder and CEO Sam Bankman-Fried's impending criminal trial set to begin next week.The FTX bankruptcy has been a complex affair, racking up over $200 million in legal fees. But in the over-the-counter markets, where bankruptcy claims are traded, prospects for creditors have recently improved dramatically. Once perceived as a high-risk asset, FTX claims are now being dubbed as the most sought-after tickets by investors focused on distressed assets.FTX's Bankruptcy: A Brief RecapIn late 2022, FTX filed for Chapter 11 bankruptcy, creating one of the most complicated bankruptcy cases in U.S. history. Data from Matrixport indicates that the expected payout for FTX creditors has risen to an average of 37 cents on the dollar, up from just over 10 cents at the beginning of the year.John Ray III, a veteran Wall Street bankruptcy lawyer, has been steering FTX through the bankruptcy process. Under his leadership, FTX has managed to recover $7.3 billion of assets. These include $3.4 billion in crypto, $1.1 billion in cash, and $200 million worth of real estate in the Bahamas.Another factor contributing to the optimism is FTX's $500 million stake in AI startup Anthropic. The crypto exchange had acquired the stake using customer funds, making it a subject of creditor claims. Amazon's recent announcement of its intention to invest up to $4 billion in Anthropic could boost the value of these claims even higher.The Prospect of FTX 2.0A potential relaunch of the exchange, often referred to as FTX 2.0, could also play a pivotal role in the claims market. If the exchange manages to restart successfully, every creditor could become an equity owner, adding another layer of value to their claims.The market for FTX claims has been so active that Thomas Braziel, co-founder and managing partner of distressed asset investment firm 507 Capital, stated that investors are "clambering over each other for claims." The guide price for these claims currently hovers between 35-40 cents on a dollar, according to Claims Market, operated by distressed asset investor Cherokee Acquisitions.What's Ahead for Creditors and Investors?The increase in expected payouts for FTX creditors is a major turn of events. While this is promising news, it's worth noting that several factors could still influence the final outcome. These include ongoing legal proceedings and the potential for additional asset recoveries, such as a $2.1 billion claim against crypto exchange Binance and another $700 million claim from investment firm K5.The court's recent update about the $7.3 billion in recovered assets was a critical moment, leading to increased competition among claims buyers, according to Brian Ferrara, director of Cherokee Acquisition's Claims Market. Markus Thielen, Matrixport's head of research and strategy, pointed out that the actual price of a claim might still vary based on several factors like jurisdiction and the size of the claim.The FTX bankruptcy case has evolved into a paradoxical beacon of opportunity in the distressed assets market. What was once seen as a sinkhole of legal complexities and risks has become a hot commodity for a niche group of investors. This shift doesn't just reflect a change in the perception of FTX's bankruptcy claims; it also shows the volatile nature of value in the industry. Traditional metrics of valuation can be upended overnight by new asset recoveries, strategic investments, or even the hint of a successful relaunch.Kraken Explores Stock and ETF Trading, A First for Crypto Exchanges What is the cheapest way to convert crypto to cash?Cryptocurrency Selection: Some services provide a variety of cryptocurrencies to mine. Consider the cryptocurrency's profitability and its future value. Reserve's collateral options on Ethereum and Base include major stablecoins, ether and wrapped bitcoin, on their own or in yield-bearing form from protocols such as Compound, MakerDAO, Aave, Convex, Curve, Morpho and Flux Finance, the project said.

Related: Crypto bills could be delayed as many prepare for US gov’t shutdown The inaugural week of proceedings, which kicked off on Oct. 3, delved into the vanishing of a staggering $8 billion from FTX client accounts. Where to Buy Ethereum (ETH). Top 5 PlatformsDaniel C. Silva, former assistant US attorney and shareholder at law firm Buchalter, believes that Sam Bankman-Fried's defense might be setting the stage for a potential appeal if the disgraced crypto boss is found guilty. More recently, the launch of Ethereum futures-based Ether ETFs on the Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE) on Oct. 2 brought in less than $10 million in aggregate assets under management during the first week of trading.

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