DeFi News Official TheBitTimes.com

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued sanctions on Buy Cash, a digital asset exchange located in Gaza used by Hamas for terror financing. Per a press release published on Oct. 18, the OFAC’s directive imposed sanctions on ten key Hamas members and financial cooperators across Algeria, Sudan, Turkey and Qatar. The treasury department cited a trail of transactions involving Bitcoin as authorities implement policies to choke off illicit funding via crypto . In September 2019, Buy Cash’s Bitcoin wallet received a Bitcoin transfer equivalent to over $2,000. The transfer was facilitated by a Türkiye-based money services business operator and al-Qa’ida affiliate. OFAC press statement The OFAC’s reference to trackable crypto transactions challenges the notion that crypto is a perfect tool for money laundering and terror financing. Such remarks were recently espoused by John Reed Stark, a former chief at the U.S. Securities and Exchange Comm...

ImmutableX (IMX) price rose more than 30% after a top exchange listed the altcoin. While IMX still tops other crypto gainers in top 50 this past week, it has retreated from near $0.78, to $0.65 amid profit taking. ImmutableX (IMX) was among the hottest coins this week, skyrocketing more than 34% to top the list of gainers across the top 50 coins by market capitalization. With mega cap altcoins largely constrained, the price of IMX rose to near $0.78 – the highest level since August 2.  Listing on one of the world’s largest cryptocurrency exchanges might have triggered the buying pressure. Korean listing triggers IMX buyers Immutable is billed as the “future of Web3 gaming,” with decent traction for the ecosystem seen over the past several months. The launch of the Immutable zkEVM Testnet has added to this outlook as developers find it easier to build Web3 games. IMX has however not seen much upside amid broader crypto malaise s...

Claims can be converted into collateral to trade crypto futures on the exchange. OPNX, an exchange dedicated to the trading of bankruptcy claims against fallen crypto firms, has listed FTX and Celsius claims. According to the July 14 announcement, FTX claims specifically can be immediately onboarded and converted into collateral in the form of OPNX's native reborn OX (reOX) tokens or oUSD, its credit currency. Users can then trade crypto futures using reOX as collateral. The claims are tokenized in partnership with Heimdall, which also handles onboarding and user verification. Developers wrote: "Claims will initially be converted into reOX tokens at a 100% bonus of the market price, which will converge to 0% bonus over a period of 50 weeks. This means, during Week 1, users will receive double the market price for their FTX claim." In an illustrative example by OPNX, a $1 million FTX claim with a claim price of 30 cents on the dollar would receive $600,000 in equivalen...

FTX token (FTT) has seen an increase in price for five days in a row as the discussion around the relaunch of the now-defunct FTX derivatives platform has taken the spotlight. At the time of publishing, FTT was trading at $1.71 — a 21% growth over the past 24 hours, CoinMarketCap data shows. FTT 1-day chart | Source: CMC Increasing optimism on FTX2.0  Following the rumors about the exchange relaunch , many investors now believe that FTT is trading at a discount. Any prospective reboot of the exchange has stirred up a fresh flood of capital into the digital currency. The current management of the trading platform is exerting significant effort to guarantee the restart. The company’s chief executive officer, John Ray III, intends to win back consumers’ confidence by improving the effectiveness of service delivery, rebranding products, strengthening security measures, and increasing responsibility for all prospective clients, according to The Wall Street Jo...