CryptoBlog n.1038
???? Sushi DAO implements proposal to direct all trading fees to treasury Sushi DAO is set to implement a governance action that will see all fees generated by the SushiSwap decentralized exchange diverted to the DAO’s treasury, following the results of its latest vote on Monday. unlike the previous one which was a tight contest. Sushi’s new “Kanpai” ratio now goes into effect following the vote. Kanpai is SushiSwap’s fee-diversion protocol. It enables the DAO to determine how much of the exchange’s trading fees can be sent to the treasury. The default Kanpai ratio is 10% but this vote has now raised the figure to 100%. the Kanpai ratio should revert to its original form on Dec. 19, 2023, unless a new tokenomics model is adopted before then. Sushi token holders will not receive rewards from trading fees during this period.
CryptoBlog n.1037
FTX's new chief executive, John J Ray III, says that he set up a task force exploring the possibility of restarting the failed crypto exchange FTX. The announcement has sent FTX's token ($FТT) up by more than 30%, currently trading at around $2.31, but it is still down 97% from its record high of $84.18. However, when asked the crypto community whether they would return to FTX to trade cryptocurrency, almost 70% said no.
CryptoBlog n.1036
Federal prosecutors seized nearly $700 million in cash and assets connected to Sam Bankman-Fried, primarily in the form of Robinhood shares. Not bad for someone who claimed to only have $150K to his name.
CryptoBlog n.1035
Binance has shared that it will allow institutional investors to keep their collateral off the platform. However, institutions would instead have the option to post their collateral for leveraged positions with Binance Custody, which will hold their assets in cold wallets rather than the exchange's internet-connected hot wallets.