Weekly Report (07 – 13 Nov. 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) Crypto.Com Delivers 320k ETH To Gate.Io, Then Recovers It

The demise of FTX underlined the necessity of proof of reserves in avoiding dangers and enhancing investor trust, prompting prominent crypto exchanges to reveal their cold and hot wallet addresses. Cold storage information indicated a suspicious transfer of 320,000 Ether while checking Crypto.com funds…[continue reading]

2) FTX Telegram Administrator Says The Exchange Was Breached

An administrator on FTX’s official Telegram channel said that the troubled cryptocurrency exchange may have had all of its cash stolen. On Friday, a message was issued that read “FTX has been compromised. All monies seem to be depleted.” This remark has now been deleted from the message, which now claims that “some funds were recovered.”…[continue reading]

3) Ripple Executive Has Made A Surprising Proposal To FTX Workers

Ripple’s chief technical officer, David Schwartz, has referred to the potential of FTX workers pursuing a career with the cryptocurrency payment startup. Previously, Schwartz made a similar offer to Twitter workers who had suffered large layoffs due to the management transition and Elon Musk’s entrance…[continue reading]

4) The Chief Technical Officer Of Tether Admits There Are No Plans To Rescue FTX

Tether has indicated it has no plans to offer a financial infusion to FTX, despite the CEO apparently reaching out to various companies for assistance. FTX has lost at least one prospective Saviour as it struggles to plug a rumoured multibillion-dollar hole in its financial sheet…[continue reading]

5) Twitter Is Hit With Elon Musk’s Strict Work Policy

Musk said that staff must report working at least 40 hours each week unless he personally allows an exception. After laying off approximately half of the company’s employees last week in conjunction with the acquisition of Twitter, this is the most recent policy change introduced by Elon Musk…[continue reading]