OTC
FTX Collapse: Ontario Teachers' to Write Off FTX Stake; Genesis Block Reportedly Ceases Trading Services
Ontario Teachers' Pension Plan, one of Canada's largest pension funds with nearly $250 billion in assets under management (AUM), will write down the entirety of its $95 million investment in FTX after the troubled crypto exchange filed for bankruptcy protection. And Genesis Block will cease over-the-counter (OTC) trading services in wake of contagion risks from the now-bankrupt FTX exchange, according to a Reuters report. Genesis Block Trading is unrelated to Genesis Global Capital, which is owned by Digital Currency Group (DCG). DCG is also the parent company of CoinDesk.
Cryptocurrency Market Maker Wintermute Lost $160M in Hack
Cryptocurrency market maker Wintermute lost $160 million in a hack relating to its decentralized finance (DeFi) operation, but the company’s lending and OTC operations have not been affected. “The Hash” panel breaks down the details.
Crypto Trading Firm Wintermute Launches Zero-Fee OTC Platform
Wintermute Node will compete against other institutional trading platforms in a bid to expand the firm’s client base.
Crypto Exchange Blockchain.com Acquires Altonomy’s OTC Desk
Blockchain.com confirmed the deal to CoinDesk. It significantly expands the exchange’s crypto OTC network, especially in the altcoin space.
Bitcoin Price Rally Fueled by Whales’ $1.6B Buy, Blockchain Data Shows
But why the whales made their buys on an exchange instead of an over-the-counter desk remains unclear.
Huobi Appears to Have Suspended Mainland China for New User Registration
The move came after China announced tougher measures on crypto trading.
Huobi’s Tighter Derivatives Rules Leave Chinese Traders Scrambling for Alternatives
Binance may gain customers because of Huobi's new restrictions.
Beijing's Crypto Crackdown Is Not New but Don't Dismiss It
China’s reiterated crypto ban sharpens the focus on the financial sector.
$80M Deal Gone Wrong: Alameda Research, Reef Finance Spar Over Unloaded Tokens
A scuttled deal between Sam Bankman-Fried’s Alameda Research and DeFi upstart Reef Finance offers an inside look at the wild world of OTC trading.
At Least One Key Huobi Executive Is In Custody in China: Sources
The Chinese police appear to have intensified their crackdown on crypto exchanges’ OTC trading services in the last year.