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Bitcoin scarcity rises as bad exchanges take 1.2M BTC out of circulation

Historical data around crypto crashes revealed that 14 crypto exchanges, together, were responsible for the loss of at least 1,195,000 BTC, representing 6.3% of the 19.2 Bitcoin currently in circulation.

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Ontario Teachers’ Pension Fund Writes Down Entire Investment in Bankrupt Crypto Exchange FTX Citing ‘Potential Fraud’

Ontario Teachers’ Pension Plan (OTPP), one of the largest pension plans in the world, is writing down its investment in the bankrupt crypto exchange FTX. “Recent reports suggest potential fraud…

Continue ReadingOntario Teachers’ Pension Fund Writes Down Entire Investment in Bankrupt Crypto Exchange FTX Citing ‘Potential Fraud’

FTX leadership pressed for information by US subcommittee chairman

A letter by the chair of the Subcommittee on Economic and Consumer Policy demanded the former and current FTX CEOs turn over details of the exchange’s past and current financials.

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Grayscale cites security concerns for withholding on-chain proof of reserves

Grayscale shared a letter from Coinbase Custody attesting that each of Grayscale’s crypto products is fully backed, but stopped short of providing the wallet addresses.

Continue ReadingGrayscale cites security concerns for withholding on-chain proof of reserves