BlockFi officially filed for bankruptcy on Monday. It has become the latest crypto company crippled by the collapse of FTX. It was functioning since 2017 with more than 450,000 clients.

Binance has allocated another $1 billion for its industry recovery fund, raising its size to more than $2 billion. Other cryptocurrency companies like Aptos Labs and Jump Crypto joined Binance’s initiative and plan to contribute $50 million.

Core Scientific, as one of the largest Bitcoin miners, has one year before it may declare bankruptcy. Core Scientific’s troubles include rising power costs, falling Bitcoin prices, and more difficult mining. They reported a total net loss of $1.7 billion in the first nine months of 2022.

Russia has started developing an official and regulated Russian cryptocurrency exchange. This exchange shouldn’t flee from Russian regulations, laws, and will operate within the national legislative frame. This move should help the government to gather more taxes that people avoid by using foreign exchanges.

Litecoin (LTC) surged by 16% to $70 today, up from $48 just two weeks back. LTC became the TOP gainer among cryptocurrencies despite a stron market selloff. Now it is the 13th biggest cryptocurrency according to its market cap, overtaking Shiba Inu.

Ethereum plunged to $1,100, its lowest level since July, and Bitcoin dropped below $16,000 to levels not seen in two years. The FTX crash is still impacting the crypto market, and concerns about further spread are growing. FTX is said to owe creditors $3.1 billion. BlockFi, a company near FTX, is allegedly preparing to declare bankruptcy soon.

The Reserve Bank of India will start testing its central bank digital currency (CBDC) on December 1st. The testing will run in Mumbai, New Delhi, Bengaluru and Bhubaneswar. Some of the major banks, such as the State Bank of India, ICICI Bank, Yes Bank, and IDFC First Bank, will participate.

The Canadian dollar weakened above $1.35—a level not seen since early November after the GDP results. The Canadian economy increased by 2.9% annually in Q3 of 2022, beating expectations for a modest 1.5% growth.

Spain’s annual inflation fell to 6.8% in November 2022, moving further away from July’s 38-year high of 10.8%. Inflation remained below market expectations at 7.4%. The slowdown in the inflation rate was mainly led by declines in the cost of fuel and electricity.

After going down for eight months, the EU economic sentiment indicator went up by one point in November 2022 to reach 93.7. The result slightly exceeded forecasts of 93.5, but it remained close to its lowest level in two years. Rising interest rates, high inflation, and a worsening energy crisis during the winter all put a damper on sentiment.

BlockFi officially filed for bankruptcy on Monday. It has become the latest crypto company crippled by the collapse of FTX. It was functioning since 2017 with more than 450,000 clients.

Pinduoduo (PDD) stock jumped 15% in the pre-market after quarterly results. The company reported much higher earnings per share of 8.62 instead of 4.79. The forecasted revenue for Q3 was $30.71 billion, but the firm surprised the market with $35.5 billion revenue.