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0 CommentsBreaking crypto news from the last week (Nov. 26–Dec. 2, 2022):
Nov. 27: Recently announced, Binance’s Proof-of-Reserves system met criticism from Kraken’s CEO Jesse Powell. Soon, Binance CEO Changpeng “CZ” Zhao responded on Twitter to the remarks made by Jesse Powell. CZ was quoted as saying “Upcoming Plans: Involve third-party auditors to audit PoR outcomes.” He added there are zero instances of any kind of negative balances.
Nov. 28: Crypto lender BlockFi would file for Chapter 11 bankruptcy protection, an insider said. BlockFi is the latest crypto firm to file for bankruptcy after the collapse of FTX’s crypto empire.
As the bear market continues, crypto investment products are experiencing last week their biggest outflows in three months. A new CoinShares report suggests that investors continue to feel bearish following the FTX crash.
Nov. 29: Coinbase Wallet will no longer support the native tokens associated with Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple’s XRP Ledger (XRP), and Stellar (XLM), starting Dec.5, citing “low usage” as its reason for no longer supporting those tokens.
Nov. 30: Blockchain gaming group Animoca Brands plans to launch a fund of up to $2 billion to invest in metaverse startups in the mid and late stage, the company’s co-founder and CEO Yat Siu said. The fund aims to strategic investments in Web3 ecosystem development rather than pursuing financial returns.
Crypto exchanges Huobi and Poloniex announced a strategic partnership. Reports of a planned merger of the two exchanges first emerged and were denied by Huobi last week.
Dec. 1: Brazil’s Congress passed a bill that would regulate the use of cryptocurrency as a means of payment throughout the country, potentially providing a boost toward the adoption of digital assets in the South American nation. The bill still requires the approval of the executive branch before it becomes law.
Dec. 2: Crypto exchange Coinbase has disabled NFT transfers on its iOS wallet app because of a dispute with Apple over the company’s in-app purchase policy. The exchange said Apple is demanding it pay a 30% tax on gas fees used to transfer NFTs.
