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FTX Debtors Report $8.9B Shortfall in Customer Funds and ‘Highly Commingled’ Assets in Latest Presentation

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On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total assets were found in…

Zimbabwean Blockchain Startups Launch Service to Help Migrants Efficiently Move Funds Across Borders

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Two Zimbabwean startups, Flexid and Uhuru Wallet, recently launched a platform that offers digital identity and remittance services to migrants living and working in South Africa. The two startups hailed what they’ve described as the “first cross-chain collaboration between the two…

Ukraine Raises More Crypto Than Russia in Year of War, Analysis Unveils

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The two sides in the bitter conflict in Ukraine have been relying on crypto assets and technology to support their military and humanitarian activities, Elliptic says in a report. According to the blockchain forensics company, the targeted nation has attracted more…

Crypto Exchange Coinbase Launches Ethereum L2 Scaling Network Called Base

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The cryptocurrency exchange Coinbase has announced the deployment of Base, an Ethereum layer two (L2) scaling network, after developers launched the Base testnet on Thursday. The company said it is incubating Base within Coinbase and that the L2 chain will progressively…

Stanford Alumni Revealed as Co-Signers of FTX Co-Founder’s $250M Bond

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According to the latest court documents in the fraud case involving former FTX CEO Sam Bankman-Fried in Manhattan, the New York judge presiding over the case unsealed the co-signers of Bankman-Fried’s bond on Wednesday. The names of the two bail bond…

Kenyan AI and Blockchain Startup Receives Investment From Swiss VC Firm

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Fastagger Inc, an artificial intelligence and blockchain startup from Kenya, recently revealed that it had received an investment from the Swizterland-based blockchain investor CVVC. Mutembei Kariuki, said the investment will be used to fund the further develop Fastagger’s “cutting-edge technology expertise”…

Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power

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According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has…

Digital Gold Traded for Digital Rubles by Russia’s Rosbank

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Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets and the need for digital ruble…