Weekly Report (05 – 11 Dec. 22) | What Happened This Week In Crypto

This Report will provide you with some essential and quick news about cryptocurrencies that happened around the world.

1) Sam Bankman-Fried Has Announced That He Will Appear Before A Congressional Committee

Next week, the former CEO of FTX will appear before the House Committee on Financial Services in Washington, D.C. Next Wednesday, former FTX CEO Sam Bankman-Fried (SBF) will appear before the House Committee on Financial Services in Washington, D.C., he confirmed…[continue reading]

2) Charles Hoskinson Discloses That Cardano Will Implement “Secret Smart Contracts”

The cryptocurrency market may be in a sea of red, but Cardano (ADA) doesn’t seem to be slowing down, including on its new privacy-focused blockchain, Midnight, as recently outlined by the platform’s creator Charles Hoskinson…[continue reading]

3) Nomad Will Reopen The Bridge After A $190 Million Cyberattack In August

The Nomad bridge, which was abused for more than $190 million, is reopening and providing partial refunds. Cross-chain connection protocol Nomad is preparing to relaunch and partly compensate people affected by its $190 million breach earlier this year…[continue reading]

4) Mazars Reports Binance’s Bitcoin Holdings Are 101% Collateralized

After doing a proof-of-reserves verification as well as a proof-of-liabilities verification, Mazars came to the conclusion that Binance’s bitcoin reserves are properly collateralized. The percentage of collateralization is now at 101%…[continue reading]

5) Chamath Palihapitiya Calls The FTX Collapse A Clever Con

Chamath Palihapitiya, a billionaire venture investor, describes the failed cryptocurrency exchange FTX as an “enormous financial scam” that affected tens of millions of individuals. Palihapitiya claims in a recent appearance on the All-In Podcast that disgraced former FTX CEO Sam Bankman-Fried is manipulating the media with his current “apology tour”…[continue reading]

6) ConsenSys Plans To Keep MetaMask User Data For No More Than Seven Days

ConsenSys, a provider of blockchain software, confirmed that it would only store and maintain user IP addresses and wallet data for up to seven days. This is an effort to reassure consumers that their personal information is handled safely after the company received pushback when it announced it was gathering such information…[continue reading]

7) Goldman Sachs May Purchase Crypto Businesses Following FTX’s Bankruptcy

Mathew McDermott, a Goldman Sachs executive, said that his company is already doing due diligence on a number of cryptocurrency companies. As the current FTX crisis impacts crypto business values, the financial services giant Goldman Sachs intends to spend millions to acquire or invest in crypto companies while their prices are low…[continue reading]