ChainCatcher news, Indian cryptocurrency exchange WazirX suffered a $235 million cyber attack in July 2024, and the company announced a restructuring plan aimed at compensating affected users. WazirX's parent company Zettai applied to the Singapore High Court in August 2024 for a debt moratorium and proposed a restructuring plan under Singapore's scheme.As of December 2024, WazirX reported liquid assets of $566.38 million, exceeding the total claims of $546.47 million USDT submitted by users in July 2024.

ChainCatcher message, according to the Tether's Q3 2024 attestation report, the total scale of secured loans in its reserves reached $6.72 billion, exceeding the "excess" funds in the reserves, which totaled only $6.1 billion. This means that Tether (USDT) is again partially supported by these secured loans. The report indicates that the secured loans are fully backed by liquid assets and are monitored regularly, measured at amortized cost (the nominal value of short-term secured loans), and any expected credit loss provisions are adjusted in accordance with IFRS 9.However, it is important to note that Tether Group's total "equity" of approximately $14 billion still exceeds the scale of secured loans.

ChainCatcher news, according to Bloomberg, the current management team of FTX stated that they have made "substantial progress" in protecting assets, having recovered approximately $7 billion in liquid assets to date. Additionally, since its inception, FTX has been mixing customer deposits with company funds and created a new entity called North Dimension Inc., described as a cryptocurrency trading company with 2,000 trading counterparts and an average monthly trading volume of $10 million. In reality, it is a shell company used to receive customer deposits and withdrawals for FTX. (Source link)

According to ChainCatcher's message, the official announcement shows that the FTX debtors have confirmed that FTX has approximately $5.5 billion in liquid assets, including $1.7 billion in cash, $3.5 billion in crypto assets, and $300 million in securities.In addition, the debtors found that both FTX.com and FTX US trading platforms have a "significant shortfall" in digital assets. The FTX debtors have identified $1.6 billion in digital assets related to FTX.com, of which $323 million was transferred by unauthorized third parties, $426 million has been transferred to cold wallets controlled by the Bahamas Securities Commission, $742 million has been transferred to cold wallets under the control of the FTX debtors, and $121 million is awaiting transfer to cold wallets under the control of the FTX debtors. (source link)

ChainCatcher news, according to Coindesk, a bankruptcy attorney stated at a recent hearing that FTX has recovered over $5 billion in various types of assets (including cash, cryptocurrencies, and liquid investment securities), not including an additional $425 million in cryptocurrencies held by the Bahamas Securities Commission. (Source link)

ChainCatcher news, according to the South China Morning Post, the new CEO of the Hong Kong Securities and Futures Commission, Julia Leung, stated at the Asian Financial Forum that after the new licensing rules for virtual asset service providers come into effect in June, virtual asset trading will be limited to highly liquid products aimed at retail investors. The SFC will release a consultation paper this quarter detailing the products and conditions for retail investors to trade virtual assets, as well as the licensing requirements for virtual asset trading platforms.When asked whether the regulator could include cryptocurrencies like Bitcoin or Ethereum in the initial list of virtual assets, Leung stated that only "highly liquid" assets would be allowed for retail trading. (Source link)

ChainCatcher news, retiring Senator Pat Toomey has introduced a stablecoin bill that guides Congress in developing future cryptocurrency regulations. The stablecoin bill will establish new federal licenses for stablecoin issuers, allowing recipients of the new licenses to issue payment stablecoins in conjunction with deposit institutions, state money transmitters, non-depository trust companies, and state-chartered trust banks.Additionally, the proposal will require issuers to fully back their payment stablecoins with "high-quality liquid assets" and will set new standardized public disclosure requirements for issuers. Disclosures will include the assets backing the payment stablecoins, redemption policies, and attestations from public accounting firms. It is reported that senior lawmakers on the House Financial Services Committee expect to advance a stablecoin bill next year. (source link)

ChainCatcher message, SBF tweeted a rough estimate of the current situation: liquid assets are -$8 billion; semi-liquid assets are $5.5 billion; illiquid assets are $3.5 billion.SBF stated that perhaps the current $9 billion in semi/illiquid assets (valued at market value, $1 billion net worth) is not worth $9 billion. However, these assets were worth $18 billion a month ago ($10 billion net worth). (source link)

According to ChainCatcher news, the Financial Times reported that on the eve of bankruptcy, FTX's liquid assets were only $900 million, while liabilities amounted to $8.9 billion.The report cites investment materials indicating that FTX's largest readily sellable asset is Robinhood stock worth $470 million, which is owned by an external corporate entity of CEO Sam Bankman-Fried. Although officially headquartered outside the United States, $5.1 billion of FTX's reported liabilities are denominated in U.S. dollars. (source link)