WSPN And Dtcpay To Launch WUSD Card, Expanding Digital Payment Accessibility

PANews reported on October 31 that Sam Bankman-Fried (SBF), former CEO of cryptocurrency exchange FTX, shared a report titled "FTX: Where Did The Money Go?". The report states that "In November 2022, over seven million customers deposited approximately $20 billion into FTX. However, when customers attempted to withdraw their funds, FTX filed for bankruptcy, still owing customers $8 billion. For years, customers received nothing. So, where did these billions of dollars go? The money never disappeared. After two years of delays, the bankruptcy administrator revealed that all customers will receive 119% to 143% of their debt. Currently, approximately 98% of creditors have received 120% of their debt, after paying out $8 billion in claims and $1 billion..." After paying legal fees, the bankruptcy estate still held $8 billion. In fact, FTX was never insolvent. Whether in November 2022 or now, FTX has always had sufficient assets to fully and in-kind repay all customers. The crisis FTX faced in November 2022 was a liquidity crisis, a sudden cash shortage. This crisis was expected to be resolved by the end of the month; however, it wasn't until FTX's outside legal counsel took control. Even when lawyers pushed it into bankruptcy proceedings, FTX never truly went bankrupt.

TLDR: Canary Funds’ XRP ETF filing removes the SEC’s delaying clause, opening the door for an auto-effective registration. The updated filing positions the XRP ETF for a potential November 13 launch pending Nasdaq and SEC clearance. SEC Chair Paul Atkins welcomed companies using the 20-day waiting rule during the shutdown period. Market watchers link Canary’s [...] The post Canary’s XRP ETF Clears Path for Launch After Key Update: Here’s the Timeline appeared first on Blockonomi.

PANews reported on October 31 that, according to crypto journalist Eleanor Terrett, multiple sources revealed that the U.S. Senate Agriculture Committee is about to release its bipartisan draft bill, which includes commodity-related content in the cryptocurrency market structure bill. However, the specific release date varies depending on the source. Some say the committee may act as early as tomorrow; others indicate that final preparations mean the draft release may be delayed until next week. Regardless, this upcoming draft, coupled with the resumption of negotiations between bipartisan staff on the Banking Committee, suggests that progress on market structure-related issues has returned to normal following last week's industry roundtable meeting.