Crypto Daily #5

The most important news of the day: FTX Group has filed for bankruptcy, Binance has added support for card payments via Apple Pay and Google Pay, Crypto.com has disclosed information on reserves

FTX Group has filed for bankruptcy. Sam Bankman-Fried has resigned.

Source: Twitter

Cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy protection in the U.S., according to a company statement posted on Twitter. Bankman-Fried has also stepped down as CEO and has been succeeded by John J. Ray III, though the outgoing chief will stay on to assist with the transition.

Approximately 130 additional affiliated companies are part of the proceedings, including Alameda Research, Bankman-Fried’s crypto trading firm, and FTX.us, the company’s U.S. subsidiary.

According to the press release, the statement does not include LedgerX LLC, FTX Digital Markets Ltd., FTX Australia Pty Ltd., and FTX Express Pay Ltd.

Binance has added support for card payments via Apple Pay and Google Pay

Binance has added support for card payments via Apple Pay and Google Pay. However, only for EEA and UK customers.

Source: Binance

Binance uses third-party partners for transfers ( which means it is not a direct payment). Therefore, each country will have its own commissions, limits, and other details. It is important to note that it is possible to send funds locally, this option does not cover cross-border transfers.

Crypto.com has disclosed information on reserves

Cryptocurrency exchange Crypto.com supported Binance and disclosed information about its reserves.

Source: nansen.ai

As the CEO of the exchange says, this is just a part of their balance sheet. A complete audit will be published soon.