Based on media reporting and press announcements, the market believes that over 27,000 jobs have been lost in the crypto industry since April.
Currently, $13.2 billion is held on exchanges, with Binance holding the lion's share.
According to a bankruptcy court filing on Friday, Binance's $1 billion acquisition of bankrupt crypto lender Voyager Digital could be delayed or halted by a U.S. national security investigation.
The BNB token, which has a market valuation of about $40 billion, has yet to be listed on major US crypto exchanges, with the exception of Binance. US. Crypto specialists believe that because of the risks, BNB could be classified as a security by US regulators.
As trade activity decreases, daily crypto trading volumes on major centralized exchanges have reached their lowest level in over two years.
A hacker took advantage of a bug in the Ankr Protocol's code to create six quadrillion aBNBc tokens and convert a portion of them into $5 million USDC.
Aptos Labs and Jump Crypto, two prominent crypto players, have also joined Binance's initiative.
Tron founder Justin Sun and renowned Celsius investor Simon Dixon have stated their intention to back the initiative.
But, after the FTX catastrophe, will BlockFi clients want to do business with centralized exchanges?
FTX is to start historical U.S. bankruptcy proceedings, and the CEO steps down.
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