Business
Can Sun, former FTX general counsel, described his shock at finding out about the exchange’s $7 billion deficit and said of the night before FTX’s insolvency was revealed that Nishad Singh looked like “his soul got plucked away from him.”
The company confirmed to Unchained Crypto that a new SEC filing represented fresh funding.
The lawsuit alleges fraudulent schemes that led to massive investor losses, intensifying scrutiny on the crypto industry.
DeFi
The Lido community is considering a proposal to sunset the staking protocol’s services on Polyon citing poor ROI and roadmap uncertainty.
Bitcoin
The Bitcoin Layer 2 infrastructure firm has released the Taproot Alpha mainnet in a move to bring stablecoins and Real World Assets to Bitcoin on the Lightning Network.
Peter Easton, a Notre Dame accounting professor, used charts and graphs to show how FTX spent customer funds.
The independent Sound Advisory will help BTC holders form an investment strategy and guide wealthy investors in adding the asset.
Regulation
The new sanctions applied to Buy Cash Money and Money Transfer Company for allegedly facilitating fundraising for the terrorist group.
On Nov. 1, the European Central Bank will start a two-year process of finalizing a rulebook and preparing infrastructure for the potential central bank digital currency (CBDC).
The Fantom Foundation confirmed that it lost $550,000 in a hack that targeted Fantom wallets.
