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0 CommentsBreaking crypto news from the last week (Nov. 19–25, 2022):
Nov. 19: Grayscale Investments said it won’t show proof of reserves, citing “security concerns” after Bitcoin and Ether products fall to new all-time lows. However, Coinbase testified to the security of Grayscale’s digital assets products held in Coinbase Custody, the WSJ reported.
Nov. 20: Binance has surpassed Coinbase to become the crypto exchange with the largest Bitcoin reserve. While the Bitcoin exchange reserves of the major platforms have been falling off sharply, Binance’s reserves have now set a new all-time high, data from CryptoQuant shows.
Nov. 21: Crypto lender Genesis said it has no plans to file for bankruptcy imminently, days after the bankruptcy of crypto exchange FTX forced it to suspend customer withdrawals. Previously, Bloomberg said Genesis executives spent the weekend in a desperate seek to line up financing.
Nov. 22: A Coinbase survey revealed that crypto winter affected investors’ sentiment not as bad as expected. Thus, 58% of investors in the survey expect to increase allocations over the next three years.
Genesis Global Capital has hired specialists from Moelis & Company to consider restructuring options, including a potential bankruptcy, The New York Times reported, citing sources familiar with the matter.
Nov. 23: Core Scientific, the largest US Bitcoin mining company in terms of computing power, revealed its loss for the first nine months of the year reached over $1.7 billion. The firm posts a $435 million loss in Q3 amid bankruptcy looms.
Nov. 24: Crypto exchange Bybit announced it has established a $100 million fund to support institutional clients citing the “challenging period in the crypto industry.” The exchange would offer up to $10 million to institutional clients and market makers.
Nov. 25: ApeCoin DAO launched a new NFT marketplace that will sell NFTs from Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Otherdeed collections. The marketplace will honor creator royalties and pass half the seller fees for each transaction back to the ApeCoin DAO community.
