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Huobi co-founder’s firm recovers 108% of deposits from FTX collapse

In a significant financial recovery, the investment firm co-founded by Huobi’s Jun Du has successfully recuperated 108% of its deposits following the collapse of the FTX exchange. This achievement marks a notable turnaround after the turmoil caused by FTX’s financial implosion, which left many investors facing substantial losses.

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In a significant financial recovery, the investment firm co-founded by Huobi’s Jun Du has successfully recuperated 108% of its deposits following the collapse of the FTX exchange. This achievement marks a notable turnaround after the turmoil caused by FTX’s financial implosion, which left many investors facing substantial losses.

The firm, which had significant exposure to FTX, has not only managed to reclaim its initial deposits but has also secured an additional 8% return on those funds. This recovery was facilitated through strategic efforts and negotiations, allowing the firm to surpass its original deposit value.

Jun Du, co-founder of Huobi and the investment firm in question, expressed relief and optimism about the recovery. “Our team’s dedication and strategic actions have enabled us to not only recover our investments but also achieve a positive return despite the challenging circumstances,” Du stated.

The collapse of FTX, once one of the largest cryptocurrency exchanges, sent shockwaves through the crypto community, leading to widespread financial disruptions. The exchange’s downfall was attributed to a series of financial mismanagements and liquidity issues, leaving many investors in a precarious position.

The successful recovery by Jun Du’s firm sets a hopeful precedent for other affected investors and firms still navigating the aftermath of the FTX collapse. It highlights the importance of strategic management and resilience in the volatile cryptocurrency market.

This recovery also underscores the potential for firms to bounce back from significant setbacks with the right approach and perseverance. As the crypto industry continues to evolve, such stories of recovery and resilience will likely inspire confidence among investors and stakeholders.

Overall, the firm’s ability to reclaim and exceed its original deposits amid the FTX crisis reflects a robust strategy and a positive outlook for future investments in the crypto space.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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