RoboFi News Review: Top Crypto News of the Week
This week’s news roundup is presented below.
Crypto clearinghouse LedgerX withdraws FTX’s request last year to CFTC
Clearinghouse for digital currency futures and options LedgerX LLC has withdrew FTX’s proposal from December 2017 to the US Commodity Futures Trading Commission, which attempted to allow the cryptocurrency exchange to provide products that are not fully collateralized.
Crypto readies itself for a post-FTX hose-down: podcast
Sam Bankman-fall Fried’s empire’s made a mockery of the unchecked expanse of the global digital financial system. Competitors like Circle’s CEO Jeremy Allaire believe they can show the world a more secure side of cryptocurrency. In this episode of The Exchange, he argues his side of the argument.
Collapse of FTX should serve as reminder of risks of crypto assets, ECB’s De Cos says
Pablo Hernandez de Cos, a policymaker at the European Central Bank, said on Wednesday that the failure of the crypto exchange platform FTX should remind clients of the risks that come with crypto assets. The exchange, which had been one of the biggest in the world, filed for bankruptcy on Friday. This was one of the most publicized crypto-related disasters, as traders withdrew $6 billion from the platform in just 72 hours and rival exchange Binance backed out of a plan to save it.
Crypto watchdogs have a giant offshore problem
After the failure of the cryptocurrency exchange FTX, further regulation of cryptocurrencies seems inevitable. In spite of this, there will be some areas where the regulations do not apply. Services based on so-called decentralized finance, and major players like Binance, may remain out of reach. That guarantees the survival of cryptography’s more controversial.
Bankrupt FTX’s new CEO outlines fund abuses, untrustworthy records
The executive who was hired to lead FTX Group through bankruptcy gave his first report on Thursday. He said that the collapsed cryptocurrency exchange had a “complete failure” of controls because of improper money transfers and bad accounting. John Ray was named CEO of FTX after the company filed for bankruptcy on November 11. In a court filing, he said that the oversight, security, and corporate governance problems he found were worse than any he had seen in the 40 years he has worked as a bankruptcy expert, including at Enron.
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RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.
About VICS
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.
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