![Ferrari Cuts-Off Blockchain Partner Ahead of F1 Season, Loses $55 Million: Here’s Why Ferrari Cuts-Off Blockchain Partner Ahead of F1 Season, Loses $55 Million: Here’s Why](https://media.starbiz.net/41/2023/01/thumbs/63bd19f3105ae_380x168.jpg)
Ferrari had partnered with the Velas blockchain to bring NFT offerings for its fans.
![Genesis Crypto Broker Negotiating in Bad Faith, Co-Founder Cameron Winklevoss Says in Open Letter Genesis Crypto Broker Negotiating in Bad Faith, Co-Founder Cameron Winklevoss Says in Open Letter](https://media.starbiz.net/41/2023/01/thumbs/63b3dabf0125e_380x168.jpg)
Genesis stopped customer withdrawals in November, after major crypto exchange FTX collapsed.
![RBI Suggests Common Approach to Crypto Assets to Avoid Potential Financial Risks RBI Suggests Common Approach to Crypto Assets to Avoid Potential Financial Risks](https://media.starbiz.net/41/2022/12/thumbs/63ae70b241d0f_380x168.jpg)
The collapse and bankruptcy of the crypto exchange FTX have highlighted the inherent vulnerabilities in the crypto ecosystem.
![Indian DeFi-Enthusiasts Call FTX Collapse ‘Good on Macro Level’, Here’s Why Indian DeFi-Enthusiasts Call FTX Collapse ‘Good on Macro Level’, Here’s Why](https://media.starbiz.net/41/2022/12/thumbs/63aa71fbdf4f6_380x168.jpg)
As per Indian Web3 builders, this FTX collapse has led to the further finetuning of the global Web3 sector.
![FTX Founder Sam Bankman-Fried Allowed $250 Million Bond, House Arrest FTX Founder Sam Bankman-Fried Allowed $250 Million Bond, House Arrest](https://media.starbiz.net/41/2022/12/thumbs/63a53633142d8_380x168.jpg)
Sam Bankman-Fried, arrested in the Bahamas last week, was flown to New York late Wednesday after deciding not to challenge his extradition.
![Private Cryptocurrencies' Growth Can Precipitate Next Financial Crisis: RBI Governor Private Cryptocurrencies' Growth Can Precipitate Next Financial Crisis: RBI Governor](https://media.starbiz.net/41/2022/12/thumbs/63a3e2b4b9d1e_380x168.jpg)
On private cryptocurrencies like Bitcoin, Das reiterated the RBI's demand for a complete ban.
![FTX's Sam Bankman-Fried Denied Bail in the Bahamas, Chances of Extradition to the US Increased, Experts Say FTX's Sam Bankman-Fried Denied Bail in the Bahamas, Chances of Extradition to the US Increased, Experts Say](https://media.starbiz.net/41/2022/12/thumbs/6399800ac1f91_380x168.jpg)
A judge ordered former FTX CEO Sam Bankman-Fried to be held at the Bahamas Department of Corrections until at least February 8.
![FTX's Sam Bankman-Fried to Testify Before US House Committee Next Week FTX's Sam Bankman-Fried to Testify Before US House Committee Next Week](https://media.starbiz.net/41/2022/12/thumbs/6395eea11c0fd_380x168.jpg)
FTX filed for bankruptcy last month and Sam Bankman-Fried stepped down as chief executive.
![FTX Collapse: Sam Bankman-Fried Reportedly Faces Market Manipulation Inquiry by US Prosecutors FTX Collapse: Sam Bankman-Fried Reportedly Faces Market Manipulation Inquiry by US Prosecutors](https://media.starbiz.net/41/2022/12/thumbs/6392cb9a4eaa1_380x168.jpg)
US prosecutors are looking into whether Sam Bankman-Fried controlled the prices of two interlinked currencies, TerraUSD and LUNA.
![Coinbase Says Apple's App Store Blocked Its App Release on NFTs in Wallet Coinbase Says Apple's App Store Blocked Its App Release on NFTs in Wallet](https://media.starbiz.net/41/2022/12/thumbs/6389e83122cd1_380x168.jpg)
Coinbase's issue with Apple comes at difficult time for the crypto exchange, whose shares are down roughly 80 percent so far this year.
![BTC Worth $2 Billion Moved by Binance Into Unknown Wallet in FTX-Downfall Aftermath BTC Worth $2 Billion Moved by Binance Into Unknown Wallet in FTX-Downfall Aftermath](https://media.starbiz.net/41/2022/11/thumbs/6386eeb532100_380x168.jpg)
The crypto exchange stirred some controversy after it was identified to have moved BTC 127,000 in one transaction to an ‘anonymous’ wallet.
![Binance to Establish Industry Recovery Initiative to Invest in Digital Sector Companies Binance to Establish Industry Recovery Initiative to Invest in Digital Sector Companies](https://media.starbiz.net/41/2022/11/thumbs/6380675f8b4c7_380x168.jpg)
Binance said it intends to ramp up its commitment amount to $2 billion (nearly Rs. 16,340 crore) in the near future depending on need.