It seems that on Tuesday (22 November 2022) Silicon Valley venture capital firm Sequoia Capital had a conference call with investors in its fund(s) that had exposure to FTX.com and FTX US. On 8 November 2022, Samuel Bankman-Fried (aka “SBF”), Co-Founder and (now) former CEO of crypto exchange...
On Tuesday, November 22, in a letter to staff, FTX founder Sam Bankman-Fried outlined a $51 billion crash in the company’s collateral which has dropped to $9 billion from $60 billion. In his letter obtained by Bloomberg, SBF wrote that a combination of sell-offs in cryptocurrencies, a credit squeeze, and a “run on the bank” left the collateral at only $9 billion ahead of the company’s filing for Chapter 11 bankruptcy. The estimated liabilities by then had reached $8 billion. The...
The stablecoin native to the Cardano ($ADA) network has recently been launched along with other synthetic assets via the Indigo Protocol on the cryptocurrency’s blockchain. The Indigo Protocol was launched to issue decentralized synthetic assets on Cardano. According to an announcement from the protocol, synthetic assets were recently...
Efforts are still underway to form a crypto recovery fund in the wake of liquidity crunch after the FTX collapse. A team of Binance executives led by CEO CZ sought funds for the crypto industry recovery fund from some high profile investors in Abu Dhabi last week. According to reports, there is still a lot of work to do before there is any clarity on the magnitude of the fund. Earlier, CZ said there was ‘significant investor interest’ in...
Recently, a former Goldman Sachs executive explained why he had “no issue” with XRP, the native digital asset of the open-source public XRP Ledger (XRPL), which was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto. Prior to founding macro economic and investment strategy research service Global Macro Investor (GMI) in 2005,...
HJH REAL Token (HJHRE), a tracking token designed to monitor and derive its value from the profitability of HJH Investments’ real estate portfolio, today announced its Q3 2022 financial results. Subsequently, it hosted a mining event of 3,451,218.65 tokens at the Proof of Volume price of $0.9561840. This mining event brings the total number of HJHRE tokens in circulation to 480,550,908.46. HJHRE mining events occur quarterly, contingent upon HJH Investments acquiring additional real estate assets. The value of purchased assets...
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