Latest Crypto News: Mumbai Indians Eager To Enter NFT World, Bahamas Regulator Denies Requesting FTX To Issue Additional Tokens

Here are some of the major developments from the world of crypto over the last few days
Latest Crypto News: Mumbai Indians Eager To Enter NFT World, Bahamas Regulator Denies Requesting FTX To Issue Additional Tokens

Mumbai Indians, the Indian Premier League cricket team owned by Reliance Industries’ Indiawin Sports Private Limited, has released a call for proposals for its digital collectibles, also known as non-fungible tokens (NFTs ).

The franchise stated that it is searching for a business to deliver services linked to the production and monetisation of particular licenced digital collectables in the form of NFTs derived from its intellectual properties to leverage the value of the team’s worldwide brand.

While other franchises are also working on developing their own digital collectibles, this is the only IPL team to have issued a bid request.

Bahamas Regulator Denies Requesting FTX To Issue Additional Tokens

The Securities Commission of The Bahamas (SCB) has rejected the claims of FTX debtors and expressed worry that the inquiry has been ‘impeded’.

In a statement issued on January 3, 2022, SCB said that John J. Ray III, the representative of the FTX debtors headquartered in the United States, had to retract important representations he had made in court documents and public releases.

The statement made in the document was that the Chapter 11 Debtors had “publicly contested” the Commission’s assessments of the digital assets moved to digital wallets under the Commission’s control in November 2022.

It claimed that the debtors failed to exercise due diligence by requesting information from the Joint Provisional Liquidators, and that these statements were based on “incomplete” information.

The statement further said that during a court filing before the US House of Financial Services Committee, FTX CEO John J. Ray III made public statements asserting that the Commission had authorised FTX to “mint a considerable amount of additional tokens” under “oath”.

Binance Set To Buy Korean Crypto Exchange GOPAX

Leading cryptocurrency exchange Binance is one step closer to purchasing Korean cryptocurrency exchange GOPAX, as it plans to buy a 41 per cent interest from the company, local media reported.

The worldwide exchange had finished its due diligence for the acquisition till reports last came in.

A source familiar with the transaction said that Binance had planned to finish the acquisition by the end of last year. But according to the source, due to continued arguments regarding the stake’s worth, negotiations for the deal had to drag on into the new year.

The main stakeholder of Gopax, Lee Jun-haeng, will sell the interest. The exchange’s CEO, Jun-haeng, will keep his job to ensure steady management.

Incidentally, Binance had previously disclosed that its subsidiary will be entering the Korean market directly.

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