FTX recovers $7.3 billion in cash and crypto assets
The company is now starting to think about its future, and considering rebooting the crypto exchange
Bankrupt crypto exchange FTX has managed to recover over $7.3 billion in cash and liquid crypto assets.
The company is now starting to think about its future after months of collecting resources.
FTX has benefited from rising cryptocurrency prices, which has seen the value of the recovered amount increase by over a billion dollars in value.
The organisation is also negotiating with stakeholders for options for restarting its crypto exchange.
“There are possibilities that customers could have an option to take part of their proceeds that they would otherwise receive in cash from the estate and receive some kind of an interest in the exchange going forward,” FTX Attorney Andy Dietderich said.
A timeline for the reboot has not been given.
Is the metaverse the future of social network?
U.S. firms like Meta, the parent company of Facebook and Microsoft are going all in on the metaverse. Meanwhile, Chinese companies appear to be taking a more cautious approach amid tighter regulation.
#metaverse #china #unitedstates #tech #veronicadudo #ozsultan #crypto
Who will win the global metaverse race?
China is looking to invest in the metaverse market as numerous cities rollout policy proposals.
Technology continues to change our lives forever.
As new advancements are released to the public—safety continues to be a major concern.
People are interacting with computers in a different way, with the word Metaverse becoming a buzzword in both the tech and business industries.
While the term, “metaverse” is broad, it refers to a set of digital spaces online—including 3D—that allows people to do many things from socializing and learning to interacting and collaborating.
Analysts say it’s the next evolution in social connection and the successor to the mobile internet.
According to Morgan Stanley, the metaverse market could be worth $8 trillion in the future.
China’s technology giants are investing in the metavese and recently, numerous Chinese cities have announced policy proposals to attract and support metaverse companies.
This comes after tense year of regulatory scrutiny on the countries tech sector.
The Chinese city of Zhengzhou recently announced a series of policy proposals to support metaverse companies operating in the region.
The initiative involves the municipal government establishing a nearly $1.5 billion dedicated fund in an effort to foster growth and development in the industry.
So, is the metaverse taking the world by storm?
Oz Sultan from the Sultan Interactive Group joins us to discuss. #china #metaverse #veronicadudo #ozsultan #regulation #crypto #tech
North Korean hacker groups steal billions in crypto assets
G7 finance ministers are supporting measures to counter growing threats in the crypto space
Hacker groups associated with North Korea have stolen over $700 million worth of crypto assets since 2017 from Japanese firms and businesses.
The amount equates to 30 per cent of the total of such losses globally.
This comes on the back of G7 finance ministers supporting measures to counter growing threats.
In total, hackers has stolen a total of $2.3 billion in cryptocurrency from businesses between 2017 and 2022.
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