Crypto News 29 Nov 2022

Please find below today’s Crypto News 29 Nov Headlines

Crypto News 29 Nov #1 – Nigerian Crypto Exchange Quidax Cuts Its Workforce by 20%

Nigerian crypto exchange, Quidax, has laid off 20 of its employees in response to difficult macroeconomic conditions, the company has said. The job cuts, which have trimmed the company’s workforce down 20%, come after it slashed employees’ salaries by 30% and team leads by 50% for three months since August 2022.

Crypto News #2 – Binance CEO Warns Users to Be Vigilant

Binance CEO Changpeng Zhao has warned users of an upcoming wave of phishing scams as hackers are selling up-to-date mobile phone numbers of nearly 500 million WhatsApp users. In a Sunday tweet, Zhao, who goes by the name CZ on Twitter, said over 487 million WhatsApp phone numbers are for sale on the Dark Web.

Crypto News 29 Nov #3 – Ether Drops As Whale Moves 73K ETH to Binance

Ether (ETH) traded weak early Monday amid reports of large cryptocurrency transfers to Binance. The native token of Ethereum’s blockchain fell nearly 4% to $1,170, CoinDesk data show. A whale address moved 73,224 ETH, worth $85.67 million, to Binance during the Asian hours, according to an analysis by on-chain researcher Lookonchain.

Crypto News #4 – New York Mayor Supportive of Mining Restrictions but Maintains Crypto Hub Objective

Mayor of New York City Eric Adams took a supportive, if somewhat veiled, stance on the partial crypto mining ban imposed in the state. A law signed by fellow Democrat and New York Governor Kathy Hochul temporarily limits the minting of digital currencies using fossil fuels.

Crypto News 29 Nov #5 – Alameda Withdrew $204M in Crypto From FTX US Days Before Exchange Collapsed

Alameda Research reportedly withdrew the most funds from FTX US, the U.S. arm of FTX, days before the crypto exchange filed for bankruptcy. The majority of the withdrawn cryptocurrencies were sent to wallets owned by FTX International, “suggesting that Alameda may have been operating to bridge between the two entities,” crypto intelligence firm Arkham said.

Crypto News #6 – The Bahamian Government Slams New FTX CEO for “Regrettable” Actions

A top government official in the Bahamas slammed new FTX CEO John Ray III for his “extremely regrettable” claims in the heated bankruptcy battle over the imploded crypto company.

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Crypto News 29 Nov #7 – Singaporean Crypto Exchange Next to Close Doors After FTX Collapse

Singaporean Crypto Exchange Next to Close Doors After FTX Collapse. BITFRONT, a cryptocurrency exchange, announced its closure on Monday. The Singapore-based crypto exchange notified users via a website notice, highlighting challenges in the nascent crypto industry.

Crypto News #8 – XRP wipes $800 million from its market cap in a day as buying pressure cools off

Crypto News 29 Nov #9 – UK Crypto Fraud Climbs by a Third to Over $270M

XRP has enjoyed a sustained rally in recent weeks despite the general cryptocurrency market operating in bearish conditions. Notably, the asset has received a boost from the ongoing case between its parent company Ripple and the Securities Exchange Commission (SEC).

However, the token is now experiencing sustained selling pressure losing about $790 million in market capitalization within a day. As things stand, XRP has a market cap of $19.29 billion as of November 28, according to CoinMarketCap data.

Crypto News #10 – Justin Sun Joins In On WETH Depegging Jokes

Justin Sun responded to a Twitter user who informed that the CEO of WEF has announced to raise and fill their $2b hole. On November 26, wETH insolvency joke started to spread with false rumors alleging that WETH is insolvent and isn’t backed 1:1 by Ether (ETH).

Crypto News 29 Nov #11 – Kraken and ConsenSys back staking platform Kiln in $17 million round

ConsenSys and the venture arm of crypto exchange Kraken have backed institutional staking platform Kiln in a €17 million ($17.6 million) round. Illuminate Financial led the equity round, which closed in October and featured participation from GSR, LeadBlock Partners, Sparkle Ventures, Alven, and Blue Yard Capital.

Crypto News #12 – Billionaire Bill Ackman Discusses Crypto Regulation

Billionaire Bill Ackman has warned that the crypto industry needs to self-police or it risks being shut down. He added that regulators need more resources to police the bad actors in the crypto space and will likely take years to catch up.

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