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Amid ongoing investigations around the defunct crypto exchange FTX, the Commodity Futures Trading Commission (CFTC) questions the due diligence conducted by institutional investors and their accountability regarding the loss of users’ funds.CFTC Commissioner Christy Goldsmith Romero stated that VCs that had to write down their investments in millions of dollars to nearly zero raises “serious questions” about the due diligence conducted over the last year, speaking to Bloomberg. CFTC Commissioner Christy Goldsmith Romero questioning the VCs that once backed FTX. Source: BloombergShe raised concerns about FTX CEO John Ray’s revelations in court about not having any records and controls over…

According to new court filings, disgraced FTX founder Sam Bankman-Fried (SBF) will be subject to the forfeiture of roughly $700 million worth of assets if he were to be found guilty of fraud. In a court document filed on Jan 20, U.S. federal prosecutor Damian Williams outlined that the “government respectfully gives notice that the property subject to forfeiture” covers a long list of assets across fiat, shares and crypto. The filings state that most of the assets were seized by the government between Jan.4 and Jan. 19, while it is also looking to lay claim to “all monies and…

AlterVerse announces their plans to bring in-game, real-life marketplaces into Sky City, allowing players to make purchases from within their virtual world. Shopping for shoes has never been more virtual! AlterVerse has partnered with a gaming marketplace called Scuti, to bring interactive shopping to Sky City. Players will be able to click on items and billboards in the game to bring up a Scuti kiosk. From this interface players can browse and purchase real life items. As a bonus, players receive 5% back in SCUTI, which can be exchanged for ACE tokens. Now, of course, the main question is, do…

Crypto will play a “major role” in the United Arab Emirates’ global trade moving forward, says the UAE’s minister of state for foreign trade Thani Al-Zeyoudi. Speaking with Bloomberg on Jan. 20 in Davos Switzerland — where world leaders are currently gathered for the 2023 World Economic Forum — Al-Zeyoudi provided a host of updates regarding the UAE’s trade partnerships and policies heading into 2023. Minister Thani Al-Zeyoudi: BloombergCommenting on the crypto sector, the minister stated that “crypto will play a major role for UAE trade going forward,” as he outlined that “the most important thing is that we ensure…

Leading NFT marketplace Blur announced that it is to delay the launch of its native token to February 14th.The reason behind the 2-week delay is that they’re ‘trying new things’ with the development as they look to deliver something that hasn’t been done before.Since launching in October, the platform has cemented itself as the NFT marketplace for “pro traders”. Blur provides features such as zero trading fees, reveal sniping and analytics.With its revolutionary floor-sweeping capabilities, it’s no wonder why seasoned JPEG traders put their trust in this platform.From October users were rewarded with a steady airdrop of the Blur tokens.…

The Stellar Development Foundation (SDF) has become the newest member of the United States Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee (GMAC), the blockchain announced on its blog. The committee is preparing to meet on Feb. 13 for the first time in over a year.SDF supports the Stellar blockchain, which is used for crypto-fiat transfers. The foundation will be represented on the committee by chief operating officer Jason Chlipala. He wrote in the company blog that “we hope to bring the unique perspective of Layer 1 protocols” to the GMAC and:“As part of the Committee, SDF will highlight…

The United States Securities and Exchange Commission has followed the Commodity Futures Trading Commission and others in filing parallel charges against the crypto user allegedly behind a multimillion-dollar exploit of decentralized exchange Mango Markets.In a Jan. 20 notice, the SEC alleged Avraham Eisenberg manipulated Mango Markets’ MNGO governance token, allowing him to steal roughly $116 million worth of cryptocurrency from the platform. According to the complaint, Eisenberg allegedly executed a series of large MNGO purchases in order to artificially raise the price of the token relative to USD Coin (USDC), then drained the assets from Mango Markets.“Eisenberg engaged in a…

James Bromley, one of the lawyers representing debtors in FTX’s bankruptcy case, has criticized social media activity against his law firm promulgated by posts from former CEO Sam Bankman-Fried.In a Jan. 20 hearing in the District of Delaware, lawyers spoke on motions dealing with potential conflicts of interest between Sullivan & Cromwell, the law firm tasked with the investigation of FTX’s bankruptcy, and the crypto exchange. Bromley, a partner at Sullivan & Cromwell, pushed back against the narrative that the law firm would be unable to act as a disinterested examiner given it had previously provided legal services to FTX…

Bridging the gap between the NFT and blockchain gaming spaces has been a persistent challenge for crypto enthusiasts and developers alike. Major NFT collections try to integrate utility and bring benefits to their holders. However, building a full-fledged game often lies outside of the budget capabilities for such projects.On the other hand, collectibles from gaming projects rarely reach the popularity and valuation that blue chip NFTs have. So the question remains: How can NFT collectors use their digital assets in other Web3 projects, specifically, active gaming platforms? One project has found the solution and is already attracting a solid user…

The second edition of Blockchain Brawlers’ esports series of tournaments is here, with participants looking to earn incredible rewards. According to the official announcement, up to 32 top contestants will be in line for cool prizes, as well advancing into the grand tournament, arriving later this year.This month’s event will take place on January 29, and to sign up, wrestlers will need to buy a Tourney Pass NFT for about 2,500 BRWL tokens, approximately $6. This will automatically qualify gamers, who will also need to get verified via the project Discord. After which, seeding will take place based on each…