Binance Institutional: Binance announced the launch of Binance Institutional, a new platform that will offer specialized services including algorithmic trading, asset management and a broker program for high net worth individuals and institutional investors like asset managers, hedge funds, and family offices, among others.

Crypto Funds Post Record Outflows: Cryptocurrency funds posted net outflows of $423 million last week, eclipsing the prior record of $198 million set as crypto markets tumbled in January, bringing total assets down to $36.2 billion, according to a report by CoinShares.

ARK36 Fintech Advisory Board: ARK36, a CySec-regulated cryptocurrency hedge fund, has established a fintech advisory board comprised of global fintech leaders, investment veterans and senior government advisors who will assist the team in developing trading algorithms, conducting qualitative and quantitative analysis on specific tokens and provide advice on working with Sovereign and Institutional Funds and projects.

Bitcoin Millionaires: It was reported that more than 80,000 Bitcoin investors have had their millionaire status revoked due to the crypto market downturn.

FTX / BlockFi: It was reported that crypto exchange FTX is in talks to acquire stake in BlockFi after FTX gave the crypto lender a $250 million credit line this week.

Grayscale vs. SEC: Grayscale, which manages the world’s largest bitcoin fund, said it would sue the U.S. Securities and Exchange Commission after regulators turned down its bid to convert the investment vehicle into an exchange-traded fund.

Three Arrows Capital: Crypto hedge fund Three Arrows Capital has reportedly entered liquidation after it failed to make payments on a loan of 15,250 bitcoin (approximately $324 million) and $350 million worth of USDC, a stablecoin.