Cryptocurrency

Bankman-Fried is currently living with his parents in California, thanks to a $250 million bail secured by his parent's home as well as two people who had been kept anonymous, reports The Verge. Now, the judge at District Court for the Southern District of New York has granted the motion to unseal the documents of his bail.

Besides, five persons have been arrested and six prosecution complaints (PCs) including one supplementary PC have been filed before the Special Court, PMLA in these cases, he stsated. Chaudhary in a written reply to a question in Lok Sabha on Monday said that crypto assets are by definition borderless and require international collaboration to prevent regulatory arbitrage.

According to Blockchain analytics platform Chainalysis, October was the biggest single month ever for cryptocurrency hacking, as $775.7 million was stolen in 32 separate attacks. DeFi (Decentralised Finance) protocols as victims accounted for 82.1 per cent of all cryptocurrency stolen by hackers -- a total of $3.1 billion -- up from 73.3 per cent in 2021.

According to bankruptcy documents, the company listed over 1,00,000 creditors in a "mega" bankruptcy filing, with aggregate liabilities ranging from $1.2 billion to $11 billion, reports CNBC. Genesis is part of the US-based venture capital firm Digital Currency Group (DCG), which also owns cryptocurrency asset manager Greyscale and crypto-focused news outlet CoinDesk.

It would make the firm the latest crypto casualty following the spectacular downfall of Sam Bankman-Fried's FTX, where the company held some of its funds, Daily Mail reported. According to people familiar with the matter, Genesis is currently in the final stage of its Chapter 11 paperwork as it works toward a deal with creditors, Daily Mail reported.

FTX CEO John J. Ray III said that about $323 million was hacked from its international exchange and $90 million from its US platform. "We are making important progress in our efforts to maximise recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information," he said.

According to an analysis by CryptoMonday.de, Bitcoin "hodlers" are becoming increasingly popular, with investors looking to hold onto their BTC longer. Hodlers are long-term holders of a cryptocurrency, who buy and hold regardless of price. Stagnant BTC supply since 2010 has slowly increased over the years, with a few exceptions in 2018 and late 2021.

Coinbase Co-founder and CEO Brian Armstrong said that as part of this round of headcount reduction, "we will be shutting down several projects where we have a lower probability of success". The crypto company in June last year eliminated 18 per cent of its workforce, or nearly 1,100 people.

The watchdogs told financial institutions to be wary of potential fraud, legal uncertainty and misleading disclosures by digital asset firms, The BBC reported. Banks were also cautioned over the "contagion risk" from the sector, The BBC reported. It comes just two months after the collapse of trading platform FTX sent shockwaves through the crypto industry. The US Federal Reserve, Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency said they were closely monitoring the crypto activities of banking organisations.

According to data by Finbold (as of January 2), the number of Bitcoin millionaire addresses stood at 28,007, representing a drop of about 71.73 per cent or 71,085 addresses from January 2 last year. At the start of last year, the number of millionaire addresses stood at 99,092.