News Summary: Bitfinex & Nansen Proof-of-Reserves, BTC Volatility Hits Yearly Low in October, SEC Gets Support Against Ripple

  • 11 November 2022, Friday, 16:05

News Summary: Bitfinex & Nansen Proof-of-Reserves, BTC Volatility Hits Yearly Low in October, SEC Gets Support Against Ripple

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Exchange newsBitfinex published a blog post demonstrating its proof-of-reserves and stating that it remains liquid and stable, bearing no exposure to FTX or its FTT token, it said. Four years ago, the exchange began working on an in-house open-source library called Antani and its web-ui implementation Ballot to demonstrate exchange-wide proof of reserves, it added.Analytics firm Nansen’s research analysts are currently working with exchanges to display proof-of-reserves on Nansen Portfolio for everyone to track their token holdings and transactions, it said in a tweet. The list of exchange portfolios is being updated.Market newsMonthly volatility saw a sharp decline in October, recording a yearly low volatility for most cryptocurrencies, said a CryptoCompare report. Bitcoin (BTC) recorded a monthly volatility of 32.2%, and while BTC rose 5.49% after breaking a $20,000 resistance level, ethereum (ETH) was one of the best performers of the month with an 18.4% return. Mining firms have been heavily selling their underlying holdings, leading to significant net outflows over the last six months. In October alone, Bitcoin mining companies recorded net flows of -7,056 BTC.Legal newsThe CEO of financial technology firm InvestReady, Adrian Alvarez, is seeking the court’s approval to file an amicus brief in support of the US Securities and Exchange Commission (SEC) in its legal war against payments company Ripple. “I am frankly pissed off that these fraudulent actors have continued to sully the name of this amazing technology with their bullshit games to avoid regulation. The FTX debacle was the last straw,” he said.Investment newsCrypto investment firm Pantera Capital has limited exposure to FTX, according to a letter from Pantera Capital partner Paul Veradittakit. "On the Pantera side, we had insignificant exposure on the FTX platform and got exposure to FTX as a shareholder primarily through the acquisition of our portfolio company Blockfolio," Veradittakit said.Regulation newsFTX's European Union investment firm license in Cyprus – which it received less than two months ago – seems set to be suspended as soon as today, according to Bloomberg, citing people familiar with the matter.In California, USA, the Department of Financial Protection and Innovation (DFPI) is investigating the “apparent failure” of FTX. “We expect any person offering securities, lender, or other financial services provider that operates in California to comply with our financial laws,” it said in a statement.Security newsDecentralized exchange protocol DFX Finance has suffered an attack and, according to CertiK, approximately $5 million in various stablecoins was stolen. “We were notified of the suspicious activity within 20-30 mins of the first transaction and executed a pause on all DFX contracts within a few minutes after confirming the attack,” the DFX team said.

Source: cryptonews.com