SBF comments on FTX’s fate; Nexo faces criminal allegations

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The biggest news in the Cryptoverse on January 12th was former FTX CEO Sam Bankman-Fried commenting on FTX’s potential recovery and telling his side of the story. Elsewhere, Nexo was accused of financial crimes and had his office raided. Lido is accumulating his ETH staked and Binance is doubling on his Additionally, there is an investigation into Genesis and his GUSD stablecoin and reports that the company owes his creditors $3 billion.

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SBF Says FTX Can Be Recovered If Sold As Going Concern

Sam Bankman-Fried confirmed he’s still around I believe Replying to tweets to Twitter users has the future of FTX wassy lawyerSBF said: [customers] Being practically perfected is a realistic possibility. ”

SBF agreed with Twitter users who said “a sale of the FTX exchange as a going concern is viable” and they were “bull on the recovery” in relation to FTX.

SBF said that selling FTX as a functioning business “is and has always been the best recovery scenario for our customers.” He also noted the ongoing debate that FTX.US should be able to return the funds to its customers, as it was allegedly solvent at the time of the Chapter 11 filing.

SBF Reveals His Side of FTX Story, Blames CZ, Targeted Attack Against FTX

Former FTX CEO Sam Bankman-Fried (SBF) has created a Substack report detailing what happened at FTX.

The SBF claims that “no funds were stolen” and attributed the crash to Alameda’s failure to adequately hedge the market crash.

Nexo co-founder calls financial crime allegations ‘ridiculous’

Nexo co-founder and managing partner Antoni Trenchev has ordered one of Nexo’s offices in Bulgaria to be raided following local reports that the office in Sofia was raided in connection with “financial crimes”. I confirmed that the authorities were present.

Trencheff said crypto slate He called the allegation “ridiculous” because “Bulgaria is the most corrupt country in the EU” and Nexo is “one of the strictest organizations when it comes to KYC/AML.”

Nexo offices raided over suspected financial crimes

Nexo’s Sofia office was raided by authorities and “foreign agents” in connection with financial crimes, according to local news outlets. standard news.

The investigation into Nexo was launched months ago after a “foreign service” alerted Bulgarian authorities of suspicious transactions, according to the report. The nature of these deals is related to circumventing Russian sanctions, he added.

Standart News also claimed that the company’s owners appropriated billions of dollars in user funds.

Nexo-linked addresses see nearly $9 million outflow amid rising FUD

On-chain data shows that addresses associated with cryptocurrency lender Nexo have recorded exfiltration following news of a financial crimes investigation by the Bulgarian government.

Cryptocurrency intelligence platform Arkham Intelligence Dashboard has shown that cryptocurrency lenders have confirmed an outflow of around $9 million since the news broke.

A breakdown of transactions showed that Nexo address 0xFfe accounted for the majority of withdrawals.

DCG rushes to raise funds to cover Genesis’ $3 billion debt burden

Troubled cryptocurrency lender Genesis owes more than $3 billion to its creditors, the Financial Times. report January 12, citing a source familiar with the matter.

Lenders owed $900 million to users of Gemini’s Earn program, more than $303 million to Dutch exchange Bitvavo, and users of crypto savings company Donut.

On January 10, Bitvavo rejected DCG’s offer to pay off 70% of its debt.

Genesis is in talks with investment bank Moelis to explore its options, but attempts to raise outside funding have so far failed. Genesis’ parent company Digital Currency Group (DCG) is looking to raise money by selling its venture capital portfolio, according to a report by the FT.

Ethereum staked surpasses 16M, with over 70% of stakers suffering losses

The amount of Ethereum (ETH) staked has grown 18% to over 16 million since the network completed its transition to a Proof-of-Stake (PoS) network last year. crypto slate data.

According to Dune’s analysis, 16 million staked ETH represents approximately 13.28% of the total ETH supply, worth $22.42 billion. data.

Lido is the leading staking platform, controlling 29.08% of staked Ethereum. According to the official Lido, around 4.65 million ETH (worth $6.8 billion) has been staked. website,

As AI Tokens Grow in Popularity, FET Becomes a Reserve Asset for Binance

According to Glassnode data, (FET) has become a Proof of Reserve (PoR) listed token on many exchanges including Binance, Huobi and Bitfinex.

The popularity of artificial intelligence (AI) tokens has skyrocketed over the past three months, leading to significant increases in AI token prices and active addresses. crypto slate data.

research highlights

Survey: Gemini and GUSD start losing followers as metrics hit record lows

Glassnode data analyzed by crypto slate US-based cryptocurrency exchange Gemini and its stablecoin Gemini Dollar (GUSD) are showing that they are beginning to lose the trust of their followers and community as their metrics plummet to all-time lows.

The number of active addresses holding GUSD has dropped to 2020 levels. The chart below shows the number of active wallets since early 2019.

The number of wallets started increasing at the end of 2020 and reached almost 1200 by the end of 2021. Since then, active addresses holding GUSD have dropped by 91.6%, returning to 100 in January 2023.

BUSD balances on exchanges also recorded a significant decline. The chart below shows his BUSD balance held on exchanges since early 2019.

crypto market

Over the past 24 hours, Bitcoin (BTC) rose 7.41% to trade at $18,850 while Ethereum (ETH) rose 6.43% to trade at $1,427.

Biggest Gainers (24 hours)

  • XYO (XYO): 21.73%
  • Avalanche (AVAX): 19.57%
  • Locus Chain (LOCUS): 14.12

Biggest Loser (24h)

  • Neutrino US Dollar (USDN): -11.4%
  • Voyager Token (VOX): -10.73%
  • iExec RLC (RLC): -8.02%

Read the latest market report

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