Hello, ApolloXplorer!Have you seen today’s key headlines yet?<h2 id="header-0">#1. FTX assets to transfer to Bahamian securities regulator</h2>The Securities Commission of The Bahamas (SCB) said it had ordered the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet owned by them.The SCB is exercising its power as a regulator to move the assets for “safekeeping”.This order was made two days after the commission froze FDM’s assets on November 10, suspended FTX’s registration in the country, and stripped the FTX directors of their power.Source: <a href="https://cointelegraph.com/news/bahamian-securities-regulator-ordered-the-transfer-of-ftx-s-digital-assets" rel="noopener noreferrer nofollow">Cointelegraph</a><h2 id="header-1">#2. New FTX CEO criticizes SBF’s FTX</h2>Newly appointed FTX CEO John Ray III declared that he had never seen “such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”In a bankruptcy filing, Ray disclosed that he did “not have confidence” in the accuracy of the balance sheets for FTX and its sister company Alameda Research.Ray criticized SBF and his management team for lackadaisical controls on systems and regulatory compliance, and said a “substantial portion” of assets held with FTX may be “missing or stolen”.Source: <a href="https://www.cnbc.com/2022/11/17/ftx-ceo-shreds-bankman-fried-never-seen-such-a-failure-of-controls-.html" rel="noopener noreferrer nofollow">CNBC</a><h2 id="header-2">#3. Bitcoin withdrawals from exchanges rise</h2>Roughly 26,000 bitcoin has been pulled from crypto exchanges over the past 24 hours.This brings the total amount withdrawn since November 7 to more than 220,000 bitcoin, according to data from Coinglass.At last read, there were 1.87 million bitcoin on exchanges tracked by Coinglass, the lowest level in at least one year, and down from 2.11 million on Nov. 7.Source: <a href="https://www.coindesk.com/business/2022/11/17/bitcoin-exit-from-crypto-exchanges-rises-to-220k-over-past-10-days/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-3">#4. Circle drops Yield rates to 0%</h2>USDC stablecoin issuer Circle, which had announced $2.6 million outstanding in loans, has dropped their Circle Yield product APY rate to 0%.CEO of media relations company EZPR, Ed Zitron, said Genesis powered Circle’s Yield product, having invested $25 million into Circle.Another Twitter user suggested that this drop shows more concern for negative payment outflows than attracting new capital.Source: <a href="https://cryptoslate.com/circle-drops-yield-rates-to-0/" rel="noopener noreferrer nofollow">CryptoSlate</a><h2 id="header-4">#5. Proof of Reserves isn&#39;t a &#39;Panacea&#39;, industry leaders caution</h2>Centralized exchanges have pledged to display proof of reserves as a way to boost transparency after the FTX collapse.But some industry leaders are warning users to remember that proving reserves has its limitations.Even with proof of reserves, it is impossible to prove non-existence of liabilities. They also require users to trust in the audits.Source: <a href="https://decrypt.co/114977/proof-of-reserves-panacea-future-ftx-like-collapses" rel="noopener noreferrer nofollow">Decrypt</a>--The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/newscryptowndl" rel="noopener noreferrer nofollow">here</a>.Stay up to date with ApolloX!<a href="https://t.me/apollox_com" rel="noopener noreferrer nofollow">Telegram</a> |<a href="https://twitter.com/ApolloX_com" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://www.facebook.com/ApolloXcom" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.instagram.com/apollox_com/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://apollox.link/blog-discord" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://apollox.link/blog-APXNewsStation" rel="noopener noreferrer nofollow">ApolloX News Station</a> | <a href="https://coinmarketcap.com/community/profile/ApolloX" rel="noopener noreferrer nofollow">CMC</a>

Crypto News of the Day: More BTC leave exchanges, Circle drops Yield rates to 0%

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