In this news segment:
- FTX has received court approval to sell billions in crypto assets to repay customers and reduce risks tied to crypto price volatility.
- Joseph Lubin, co-founder of Ethereum, expressed confidence in crypto's future amid SEC disputes and defended Ethereum as a commodity.
- Singapore's financial regulator has banned the founders of Three Arrows Capital from operating in the region for nine years due to regulatory violations.
- Binance US is cutting a third of its workforce and undergoing changes to adapt to the evolving crypto market and regulatory challenges.
- Overall, the crypto market is experiencing shifts in strategy and competition, impacting asset prices and market dynamics.
Sure, here are the key facts extracted from the provided text:
1. FTX has received court approval to sell its crypto assets, totaling nearly three and a half billion dollars, to repay customers in U.S. dollars and minimize risks associated with crypto price volatility.
2. The bankruptcy judge overseeing FTX's case has allowed them to sell up to $100 million in crypto per week and increase the liquidation pace to $200 million per week, pending approval from creditor committees.
3. FTX can also enter into hedging and staking agreements to reduce the risk of volatility and earn passive income on crypto assets like Bitcoin.
4. The co-founder of Ethereum, Joseph Lubin, believes that Ethereum is a commodity, not a security, despite SEC Chair Gary Gensler's statements about cryptocurrencies.
5. The Monetary Authority of Singapore has issued a nine-year ban against the founders of Three Arrows Capital, preventing them from operating in the region due to regulatory violations.
6. Binance US is cutting about a third of its workforce, with its CEO leaving the company, as part of a strategic move to preserve cash and resources in a changing and competitive crypto market environment.
Please note that these facts are extracted directly from the text and do not include opinions or interpretations.