CRYPTO MARKET NEWSREEL \ NOVEMBER 12-25, 2022

Last week Worldometer, which draws estimates from a 2022 United Nations report, stated that the global population reached an astonishing 8 billion. Interestingly, market research firm GWI suggests that as much as 10.2% of global internet users aged 16 to 64 own crypto.

To help crypto users get through the recent FTX scandal, we highlighted recent market news and gathered thoughts from analysts and Binance CEO about crypto trading tactics that work at the end of 2022.

• BlockFi reportedly filed for bankruptcy, as reported by the WSJ
  
  
• Japanese cryptocurrency exchange Liquid halted withdrawals amid the ongoing crisis amid centralized crypto exchanges. The FTX-owned crypto exchange Liquid took to Twitter to officially announce a suspension of fiat and crypto withdrawals on its Liquid Global platform.
  
  
• Kraken froze accounts related to FTX and Alameda
  
  
• Crypto lending platform SALT paused withdrawals and deposits
  
  
• Visa terminated the long-awaited debit card program with FTX
  
  
• The Securities and Exchange Commission of Cyprus, or CySEC, reportedly stated FTX's filing for Chapter 11 bankruptcy in the United States, requesting the exchange halt operations for its Europe arm.
  
  

The fintech company Plaid which facilitates communication between financial services apps and users' banks and credit card providers, suspended FTX US access to its products, citing "concerning public reports" of fraudulent activity.

On Nov. 16, Genesis announced it had temporarily suspended withdrawals citing "unprecedented market turmoil" after FTX's collapse. The company previously revealed on Nov. 10 it had around $175 million worth of funds stuck in an FTX trading account.

The firm has reportedly faced difficulties raising money for its lending unit and told investors it would have to file for bankruptcy, according to a Nov. 21 Bloomberg report, citing people familiar with the matter.

But a spokesperson for Genesis told Cointelegraph that there were no plans to file for bankruptcy "imminently" and that it continued to have "constructive" discussions with creditors:

As the effects of the FTX crisis continue to affect the markets negatively, crypto exchange Binance is creating a fund to help potentially strong projects with liquidity issues.

In a tweet, Binance CEO Changpeng Zhao stated that the fund plans to reduce the cascading damaging effects of the collapse of FTX by helping projects that the Binance CEO described as "strong, but in a liquidity crisis."

CoinMarketCap, a leading market researcher and tracker in the crypto industry, announced the launch of a new feature on its platform that gives users updated financial insights on exchanges.

The proof of reserves (PoR) tracker audits active cryptocurrency exchanges in the industry for transparency on liquidity at a given moment. According to the statement, the tracker shows the total assets of the company, its affiliated public wallet addresses, the balances, current price, and values of the wallets.

CoinMarketCap reports the PoR trackers will update data every five minutes. On November 22, the company tweeted a navigation guide for users.

Circle, the issuer of the United States dollar-pegged stablecoin USD Coin, has added support for Apple Pay to bring the crypto and traditional payment systems closer together.

According to Circle, the addition of Apple Pay support will benefit traditional businesses by allowing them "to shift more retail payments to digital currency."

The self-custody Trust Wallet launched its long-awaited browser extension and collaborated with Binance Pay and Coinbase Pay, whose users can now transfer their funds directly to a Trust Wallet account.

The browser extension was launched on Nov. 14 and is now available in Google Chrome and Opera. The extension allows users to store, transfer, and receive crypto across all Ethereum Virtual Machine (EVM) chains and Solana. A network auto-detect function provides users with a seamless DApp experience without having to manually add networks.

Moreover, the extension includes multi-wallet support, NFT support, fiat on-ramp providers, non-EVM blockchain integrations, and hardware wallet support.