Phoebe's Bitmingham Beat - FTX abandons plans to relaunch its crypto exchange / Block begins staff cuts to cap headcount at 12,000 / Coinbase hires former U.K. finance minister [EN]

FTX abandons plans to relaunch its crypto exchange / Block begins staff cuts to cap headcount at 12,000 / Coinbase hires former U.K. finance minister [EN]

02/01/24 • 13 min

FTX abandons plans to relaunch its crypto exchange due to high costs, Ripple's XRP price drops following a hack, Terraform Labs files for bankruptcy to appeal SEC lawsuit, the SEC seeks to dismiss its lawsuit against DEBT Box after misleading statements, Coinbase hires former U.K. Chancellor George Osborne to combat regulatory challenges, and Block begins layoffs as part of a workforce adjustment plan.

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undefined - Binance now lets institutional clients keep their assets at banks / Bitpanda exits Netherlands / Visa enables direct crypto withdrawals on debit cards [EN]

Binance now lets institutional clients keep their assets at banks / Bitpanda exits Netherlands / Visa enables direct crypto withdrawals on debit cards [EN]

Binance introduces a new custody option allowing institutional clients to keep assets at independent banks, Coinbase implements a conversion fee for large USDC transactions, and Visa partners with Transak for direct crypto withdrawal and payment services, while Uncorrelated Ventures raises $315M for a new fund targeting infrastructure software startups in traditional and crypto sectors.

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undefined - Binance sued by families of Hamas victims / Germany's DZ Bank to pilot crypto trading service this year / Celsius Network officially exits bankruptcy [EN]

Binance sued by families of Hamas victims / Germany's DZ Bank to pilot crypto trading service this year / Celsius Network officially exits bankruptcy [EN]

Families of Hamas attack victims have sued Binance for allegedly facilitating the group's violence, while the crypto exchange previously admitted to allowing transactions by terrorist groups and agreed to a $4.3B fine and leadership changes after U.S. charges; Ether experienced significant price volatility, reaching a 20-month high; Celsius Network exited bankruptcy, transforming into a Bitcoin mining company; the U.S. will track crypto mining companies' electricity consumption; DZ Bank in Germany plans to pilot a retail crypto trading service; and Bybit applied for a license in Hong Kong to offer crypto trading services to retail investors.