Crypto News 24 Nov 2022

Barry Silbert, the founder of crypto conglomerate Digital Currency Group, has joined a growing list of industry leaders in trying to settle investors’ nerves after the sudden collapse of FTX.

Please find below today’s Crypto News 24 Nov Headlines

Crypto News 24 Nov #1 – DCG’s Barry Silbert reveals crypto firm has $2 billion in debt as he tries to calm investors after FTX

Barry Silbert, the founder of crypto conglomerate Digital Currency Group, has joined a growing list of industry leaders in trying to settle investors’ nerves after the sudden collapse of FTX.

In a note to shareholders on Tuesday, Silbert addressed all the “noise” about the financial health of DCG’s subsidiaries, which include trading firm Genesis, Grayscale Investments, and mining company Foundry.

Crypto News #2 – The FTX Crash Will Have a Lasting Impact on the African Crypto Community

The Zimbabwean NFT artist Liam Vries signed up for an FTX account this past summer. He knew of the crypto exchange because some American friends recommended it and also through its aggressive advertising in Africa. He hoped to safeguard his crypto holdings—some of which came from the sale of his surrealist collage NFT art—while also growing it through FTX’s interest rates and trading opportunities.

Crypto News 24 Nov #3 – Sam Bankman-Fried still speaking at events and the community is furious

The former FTX CEO said he will be speaking at a conference by The New York Times, the same outfit that wrote the recent “puff piece” on Bankman-Fried.

Crypto News #4 – Ethereum Developers Begin Testing Staking Withdrawals On Devnet

Ethereum developers have finally begun testing the withdrawal of staked ETH with the launch of a new developer network.

Crypto News 24 Nov #5 – Binance CEO “CZ” Reveals Plans On FTX, Industry Recovery Fund

Binance CEO Changpeng “CZ” Zhao in an interview with Bloomberg on Thursday, November 24 answered questions on FTX contagion, Coinbase reserves, industry recovery fund, etc. He believes there will be some contagion for some time as a result of the collapse of the crypto exchange FTX.

Crypto News #6 – Shiba Burn Down By 93%, Doge Creator Reacts On SBF Interview, Floki Rises By 21%

Top Meme Cryptocurrency: Meme coin value has decreased by 0.82% in the last day to $0.022904. Shiba Inu’s value increased by 0.69% to $0.000009. Dogecoin increased by 0.23% to $0.082610, and Vita Inu increased by 2.56%. Shiba Inu’s burn rate is also down by 93% after the recent surge in the price of Shiba Inu in the last couple of days.

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Crypto News 24 Nov #7 – Recent FTX hacks prove it was right to ‘secure’ its assets: Bahamian regulator

The Securities Commission of The Bahamas says the continued “hacking attempts” on FTX’s digital assets prove they made the right call to take control of the exchange’s assets on Nov. 12.

Crypto News #8 – Crypto has survived worse than the fall of FTX: Chainalysis

Blockchain analysis firm Chainalysis has compared the fall of Mt. Gox to FTX to determine how FTX’s bankruptcy will impact the ecosystem.

Crypto News 24 Nov #9 – Mt. Gox Bitcoin Awakened as 10,000 BTC Begins to Move

Seven-year-old Bitcoin has been reawakened as a crypto wallet linked to the infamous Mt. Gox hack started moving currency.

Crypto News #10 – Litecoin Outperforms 100% of Top Cryptos: Crypto Market Review, Nov. 23

Finally, the cryptocurrency market’s momentum is normalizing, with most assets returning to their normal price range and some of them showing exceptionally strong performance, despite the depressing state of the market.

Crypto News 24 Nov #11 – Block Earner sued over crypto-yield products, CEO calls for clarity

The CEO of fintech firm Block Earner has lashed out over the “lack of clarity” in Australia’s financial licensing regime after his company was sued by the country’s financial services regulator for providing unlicensed crypto-based investment products.

Crypto News #12 – Cardano Stablecoin Ecosystem Ardana Suddenly Halts Development

Ardana, a decentralized ecosystem that had been working on a Cardano stablecoin, has halted development because of funding and project timeline uncertainty. Some in the community have called it a scam.

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