The cryptocurrency exchange Zipmex officially filed for bankruptcy protection. Zipmex is one of several cryptocurrency exchanges that recently halted all trading and withdrawals on their platform due to fallout from Three Arrows Capital’s collapse.
Maybe I should add a category called ‘The Evil’ for this one: on-chain analytics firm, Chainanalysis, identified over $2.2 million in crypto donations to pro-Russian military groups. $1.45 million came from Bitcoin (BTC.X), $590,000 in Ethereum ($ETH.X), and the remainder is a mix of TRON ($TRX.X), Litecoin ($LTC.X), and Dogecoin ($DOGE.X).
$2.2 million is a lot of money, but it’s paltry compared to the estimated $200+ million Ukraine has received in cryptocurrency donations. 🤬
Axie Infinity’s ($AXS.X) public image can’t shake off controversy. Trung Nguyen, CEO and co-founder of Axie Infinity, was accused of insider trading before the announcement of the $600 million hack in March 2022.
Bloomberg reports that Nguyen moved roughly 50,000 AXS off Axie Infinity’s bridge (Ronin) into a Binance account. The parent company of Axie Infinity, Sky Mavis, froze the 50,000 AXS, essentially locking them in the game.
Nguyen and Sky Mavis vehemently deny the transfer was an attempt to sell any AXS before breaking news. Instead, they claim the move was to “… ensure that short-sellers, who track official Axie wallets, would not be able to front-run the news.” However, other wallets believed to be attached to Sky Mavis employees experienced large transactions, too.
Nguyen took to Twitter last night:
The Founding Team chose to transfer it from my wallet to ensure that short-sellers, who track official Axie wallets, would not be able to front-run the news.
— Trung Nguyen (@trungfinity) July 28, 2022
We’ll keep you updated as this story develops. 😁