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Late last year, as crypto markets were struggling to regain their footing, the world’s biggest cryptocurrency exchange quietly moved $1.8 billion of collateral meant to back its customers’ stablecoins, putting the assets to other undisclosed uses. They did this without informing their customers. According to blockchain data examined by Forbes, from August 17 to early December–about the same time FTX was imploding–holders of more than $1 billion of crypto known as B-peg USDC tokens were left with no collateral for instruments that Binance claimed would be 100% backed by whichever token they were pegged to. B-peg USDC tokens are digital replicas of USDC, a dollar-pegged stablecoin issued by Boston-based Circle Financial, that exist on blockchains not supported by the firm such as Binance’s proprietary Binance Smart Chain. Each stablecoin is worth one U.S. dollar.

A report from the International Monetary Fund (IMF) in September 2022, co-authored by BIS Chief Carstens, identifies three shortcomings that preclude cryptocurrencies from serving as a "sound basis for the monetary system," which shows how fiat money has won the battle against cryptocurrencies.

The Securities and Exchange Commission charged Indian-origin engineer Nishad Singh, who was the co-lead engineer for FTX, and he decided to plead guilty to commodities fraud and other charges.

Without any explanation, crypto exchange Binance said that it would suspend U.S. dollar transfers, but the company's subsidiary, Binance US, stated in a tweet that it is unaffected by the ban.

A blog post was co-written by national security adviser Jake Sullivan, director of the National Economic Council Brian Deese, director of the Office of Science and Technology Policy Arati Prabhakar, and chair of the Council of Economic Advisors Cecilia Rouse on the official White House website targets cryptocurrencies and calls for stronger enforcement by regulators.

The FBI had suspicions that cryptoqueen may have used a German passport to travel from Athens to the UAE, Germany, Russia, Eastern Europe, or perhaps back to Bulgaria. Now, cryptoqueen is appearing after 5 years of hiding.

Due to the mysterious deaths of the four cryptocurrency billionaires who passed away within a month, the crypto world has come up with conspiracies, with one claiming they were assassinations.

According to data provided by the crypto forensic organisation Arkham, Alameda wallets has funnelled over $1.7M via crypto mixers overnight

More than 60% of the assets under management at Midas were removed as a result of the failure of Celsius Network and FTX. As a result, Midas Crypto exchange is declaring bankruptcy.

After the failure of cryptocurrency exchange FTX and hedge fund Alameda Research, the troubled cryptocurrency sector and its rich pioneers face a day of reckoning. In particular, these crypto founders and bitcoin moguls lost $116 billion in 2022.