Web3 Diaries-Coinbase To Buy FTX Europe: Report
In its bid to expand globally, Coinbase Inc., the U.S. crypto exchange, has recently considered buying FTX Europe, Fortune reported. Remember, Coinbase is facing regulatory crackdown in its home country.
The move is part of Coinbase’s desire to expand its derivatives business, according to the article, which added that acquisition talks never reached a “late stage.”
The firm considered FTX Europe, which went on sale after its parent company declared bankruptcy last fall, due to its “highly profitable” derivatives business and growing customer base, Fortune reported.
A Rough Day For Sam Bankman-Fried
Last Friday was certainly a difficult day for Sam Bankman-Fried who is facing trial. First, the judge overseeing his case rejected all seven of his proposed expert witnesses, questioning at least one’s qualifications and saying some others really wouldn’t be relevant to the case.
Shortly after, the Second Circuit Court of Appeals rejected Bankman- Fried’s appeal of Judge Lewis Kaplan’s ruling to revoke his release on bail.
These are both mostly procedural losses. I don’t think the appeal denial is a surprise to anyone. Judge Kaplan even joked about his record on appeals (favorable) in the Aug. 11 hearing where he remanded Bankman-Fried into custody, and indeed the three-judge panel wrote that they “discern[ed] no error, much less clear error, in the district court’s detention decision.”
Mixin Network Losses Nearly $200 mn In Hack
A blockchain security consultant, SlowMist, claimed that Mixin Network has been compromised for over $200 million. Mixin Network has now corroborated this information.
“In the early morning of September 23…the database of Mixin Network’s cloud service provider was attacked by hackers, resulting in the loss of some assets on the mainnet,” Mixin Network said in a statement. “The funds involved are approximately US$200 million.”
A service called Mixin Network, which is akin to a layer-2 protocol, is intended to make cross-chain transfers more affordable and effective.
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