Cardano DeFi project Ardana suspends development

Due to recent developments about funding and project timeline uncertainties, Ardana, a well-known DeFi project built on top of Cardano, stopped its development.

Ardana Labs will keep the money and treasury balances until a reliable programming team from the community steps forward to take up their work.

CoinDCX releases proof-of-reserve report, has net assets of $124M

CoinDCX launches Nansen.ai dashboard in partnership with portfolio tracking platform Nansen where you can view CoinDCX’s Proof of Reserves. The report reveals CoinDcx has over $124 million in net assets.

Over 10% Shib, around 12% Ethereum, and 13% Bitcoin make up the CoinDCX portfolio. The third-largest asset in the portfolio is Shib, with a value of nearly $14 million.

 

MetaMask to collect users’ wallet and IP addresses

On Nov. 23, ConsenSys released an updated privacy policy agreement that said that starting with on-chain transactions, MetaMask would start logging users’ IP addresses and Ethereum wallet addresses.

The wallet’s developer, ConsenSys, explains that only customers who utilise Infura, MetaMask’s default Remote Procedure Call application, will have their data collected.

We let FTX get too big before we started questioning: Binance CEO CZ on FTX collapse

“I actually reflect on the FTX situation and I kind of blame myself for tweeting that too late. As an industry, we let FTX get too big before we started questioning some of those things,” said Binance founder Changpeng Zhao.

Zhao said he anticipates “a little bit of contagion” when questioned about the state of the business following the demise of FTX.

Ethereum developers start experimenting with staking withdrawals on devnet

Withdrawals of staked ETH are a feature that has not yet been added to the network. Staking withdrawals are now being tested by a number of Ethereum clients who provide validator software.

With the launch of a planned update Shanghai, which may happen as early as next year, the new devnet will aid in laying the groundwork for validator staking withdrawals.

Japan to introduce experimental digital Yen CBDC in 2023

The central bank intends to test the digital pilot for a period of two years before debating and deciding whether to proceed with the issuance in 2026.

Banks and other institutions will collaborate closely with the Bank of Japan. This will identify any deposits or withdrawals that may be having problems.

CoinSwitch launches multi-exchange crypto trading platform

Users will be able to view, pick, compare, and trade in numerous tokens across exchanges using the CoinSwitch Pro platform. With a single login, users can trade crypto assets in INR on various exchanges.

Depending on the cryptocurrency exchange, the cross-exchange platform will charge consumers a transaction fee for trades made on the site.

Djed: Cardano to introduce new algorithmic stablecoin

Cardano, a proof-of-stake blockchain platform, has teamed up with COTI, a Layer 1 protocol based on DAG, to produce what it calls an over-collateralized algorithmic stablecoin.

Select partners and decentralised exchanges will integrate the algorithmic stablecoin and compensate users for supplying liquidity with Djed.

FTX Japan could resume withdrawals by the end of 2022

Prior to FTX Group filing for bankruptcy in the US for more than 130 affiliated firms, including FTX Japan Holdings, FTX Japan, and FTX Japan Services, Japan’s Financial Services Agency (FSA), requested on Nov. 10 that the exchange freeze business orders.

On Nov. 10 when it suspended operations, FTX Japan had around 19.6 billion yen in cash, or more than $138 million.

JP Morgan files trademark application for cryptocurrency

Through the registration, JP Morgan Wallet will be able to offer services including a cryptocurrency exchange, cryptocurrency transfers on a blockchain, credit or cash card payment processing, and the creation of virtual checking accounts.

JP Morgan started enabling its clients to invest in cryptocurrency funds in August 2021. A service like this was provided by New York Digital Investment Group.

Terra co-founder forfeits $104 million to South Korean authorities

South Korean authorities froze almost $104.4 million from co-founder Shin Hyun-seong nearly six months after the Terra blockchain was formally stopped due to suspicions of inflated profits.

Authorities in South Korea are currently looking into Shin on two counts: selling Chai’s customer transaction data to Terraform Labs and earning unauthorised profits from the sale of his own coins, LUNA and TerraUSD.

The top 50 creditors of FTX are owed almost $3 billion

FTX  woes the top individual alone in excess of $226 million USD, with all others, owed sums ranging between $21 million and $203 million, according to the bankruptcy filing.

It is unknown who the creditors are and where they are located. It has been speculated that FTX may have over 1 million creditors in total.

US authorities arrest Indian-American man for $10 million crypto fraud

Rathanakishore Giri, an Indian American, was arrested by Federal law enforcement authorities in the US on criminal charges related to his alleged involvement in cryptocurrency investment.

The fraud scheme raised at least USD 10 million from investors. He is accused of deceitfully portraying himself as a skilled cryptocurrency trader in order to deceive investors.

Binance launches free crypto courses with NFT certificates

Binance is offering free courses on cryptocurrency, blockchain, Web3, and the metaverse for its millions of customers. An NFT certificate will be awarded once the students have finished all of these courses.

Six modules will make up the course, the first of which is a beginner’s course that covers the fundamental facts and investing techniques of the sector.

 

Genesis sought $1B emergency loan before halting withdrawals

Genesis needed access to the credit facility by 10 a.m. Monday, according to the private fundraising document, which also mentioned a “liquidity crunch due to some illiquid assets on its balance sheet.”

In order to restore its liquidity, the company had “quite constructive conversations” with potential investors, the report reveals.