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Metaverse tokens join in on crypto crash

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Crypto’s market crash continues with Metaverse tokens joining heavyweights such as Bitcoin and Etherum in on the slide

Metaverse tokens in Decentraland, The Sanadbox, Enjin Coin, and Axie Infinity have all dropped roughly 6 per cent over just 24 hours.

Enjin coin, a token earned through in-game achievements to buy virtual goods, is the Metaverse token that’s been hit the worst. The native token of Enjin’s platform has the worst loss of the metaverse tokens, with a 7.33 per cent drop over the past day.  

It comes as Bitcoin braces itself for a black swan event, something described in the crypto world as ​​an event so uncommon that even the probability of it happening is unknown.

This follows the significant drop that crypto leader, Bitcoin faced this week. The slide saw the currency go down another 3 per cent to below $US22,000. Read more.

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Crypto

FTX creditor list goes public

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New court filings have shown crypto exchange FTX owes money to several companies

These include Apple, Binance, Coinbase and Netflix, among others.

The names were revealed on the extensive FTX creditor list that went public today.

The 116-page document displays a host of well-known corporations and distinguishes the immense reach of FTX.

Institutions, media companies, and fellow cryptocurrency exchange platforms are the list, as well as almost 10 million redacted customer names.

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Business

Binance processed over $340m in Bitzlato funds

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Binance processed over $340 million in Bitcoin for the Bitzlato digital currency exchange, whose founder was arrested last week for money laundering.

 
The U.S. Justice Department revealed Bitzlato processed $700 million dollars in illicit funds.

Bitzlato didn’t do proper background checks on clients, when asking for IDs.

Binance is among the top three counterparties by the amount of bitcoin it received between May 2018 and September 2022.

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Crypto

FBI confirms North Korean heist from U.S. crypto firm

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The groups used a privacy protocol called Railgun to launder over $60m worth of Ethereum stolen during the theft, according to an F.B.I. statement.

A portion of the stolen Ethereum was subsequently sent to several virtual asset providers and converted to Bitcoin.

North Korea’s theft and laundering of virtual currency is used to support its ballistic missile and Weapons of Mass Destruction programs.

In June 2022, Harmony said that a heist hit its Horizon bridge, which was the underlying software used by digital tokens such as bitcoin and ether for transferring crypto between different blockchains.

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