Ren community members say they were prepared for this event, having warned users to withdraw and redeem their remaining assets.

Cross-chain bridge platform Ren Protocol has recently made an announcement that FTX, Alameda Research and other affiliates have authorized and directed the platform to move all its crypto assets to FTX debtors' wallets.

Ren Protocol was acquired by Alameda Research back in February 2022 in an attempt to expedite the decentralization of its tech.

FTX's sister company Alameda Research had previously acquired Ren to provide long-term funding before shutting down.

Newsquakes™, Twitter Volume and Most Active On-Chain alerts helped Cointelegraph Markets Pro users find three assets that had big moves.

It is worth recalling that ADA is the native cryptocurrency of the Cardano blockchain. Cardano's currency can be used for network transactions and can also be held as a form of investment.

In November, following the protocol's loss of funding from Alameda, Ren accelerated its shift from Ren 1.0 to a more efficient, secure version.

As many cryptocurrencies lingered in consolidation, Republic Protocol [REN], gained massively. At press time, CoinMarketCap showed that REN's price had increased 25.93% in the last 24 hours.

Projects pay the price for accepting SBF's blessing as their tokens plummet

As project Ren separates from the bankrupt Alameda, its token sees massive price activity in the past few weeks.

Ren DAO has voted in favor of a proposal that sought to allow the minting of 180 million tokens. The tokens will fund the network's upgrade to a new version.

An estimated 180 million Ren tokens will be created with a value of about $10.8 million. The post Ren to mint 180 million tokens to fund transition to new version appeared first on The Block.

Leading crypto insights firm Santiment says four altcoins are showing signs of an imminent bounce after getting “hammered” in the market. According to Santiment, metaverse altcoins Decentraland (MANA) and The Sandbox (SAND) along with Chiliz (CHZ) and Ren (REN), are in “opportunity zones” after the crypto market experienced big losses.

Ren Protocol, which had backing from Alameda Research to shut down, and the millions in Total Value locked are at risk of being lost forever. The post Ren Protocol to Shut Down and Launch New Network With Millions at Risk appeared first on BeInCrypto.

Sam Bankman-Fried's Alameda Research was funding token wrapper Ren Protocol right up until FTX went bankrupt last month

Ren Protocol still holds $15 million of funds, even though the network is likely about to stop at any moment now. The post Ren Protocol's imminent shutdown likely, $15 million still at risk appeared first on The Block.

The Ren DAO is voting to create a foundation that will sell newly minted coins to raise money for the DeFi project after Alameda's collapse. The post Ren DAO to vote on plan to mint new funding tokens after Alameda collapse appeared first on The Block.

Alameda Research-backed Ren Protocol has warned users of a potential risk of losses as it winds down its current Ren Version 1.0.  The Ren team stated that once version 1.0 is retired, users may not be able to recover their assets.

The Alameda-backed protocol, Ren, warned users that its version 1.0 is winding down, and there is a potential risk of losing assets. The Alameda-backed protocol, Ren, announced in a Twitter thread that their version 1.

Users of the blockchain bridge are encouraged to quickly redeem their tokens before they potentially lose all value.

The team stated on Twitter that deposits would be disabled “shortly” and withdrawals within 30 days.

According to the team behind the open protocol Ren, developers are winding down the Ren 1.0 network following the FTX and Alameda Research collapse. Last year, under previous Ren leadership, Alameda acquired Ren and was funding development every quarter. On Dec. 7, 2022, Ren developers warned Ren 1.0 and 2.

Ren Protocol warned its users of potential risk of losses after it shuts down its existing product.  The post Alameda-backed Ren warns users of losses as it plans to wind down protocol appeared first on The Block.

Ren said it needs the additional fund, especially to execute its Ren 2.0 which has been in the works after the company decided it would cease to operate the Ren 1.0 platform.

REN, core native cryptocurrency of veteran DeFi Ren Protocol, outperforms all mid-caps, here's how

Rumors that Binance was looking to acquire multichain protocol Ren caused the protocol's native REN token to soar 32% to $0.1061. The post REN Price Jumps 32% Following Binance Acquisition Rumors appeared first on BeInCrypto.

Project said it wants to move on from its now-bankrupt owner Alameda Research and is already talking to potential investors.

Ren Protocol (REN), one of oldest decentralized protocols, shares sad announcement for its community

The Ren Bridge project announced in its ‘Ren Community' Medium blog on November 18 the ways in which it plans to move forward with Alameda Research. The post Ren Bridge announces open source community led Ren 2.0 in response to Alameda fallout appeared first on CryptoSlate.

The ethereum wallet known as the “FTX Accounts Drainer” has started to offload the ethereum it collected this past week after becoming the 27th largest ether address. On Nov. 19, 2022, the wallet held 250,735 ether, but by 7:44 a.m. (ET) on Nov.

Ren has stated that its development funds are only enough to cover expenses through the end of the year because of Alameda's bankruptcy.

The crypto project Ren seems to be in a state of limbo for not having enough funds for its development following the FTX crisis. Alameda Research, FTX's trading arm, was funding Ren's development with $700,000 every quarter.

Crypto token wrapper Ren only has funding up to the end of December following the collapse of Alameda Research. The post Funding for DeFi protocol Ren in limbo after Alameda collapse appeared first on The Block.

REN price could be ready to break out from the downtrend as price gears up for a short-term recovery creating more bullish sentiment. REN looks strong on both low and high timeframes.

 On the 9th of September, the REN/USD market broke above the 9-day moving average.

Elliptical Connect, a blockchain data analytics firm, released a report Wednesday — widely covered in both the crypto and  news media — entitled “Cross-chain Crime: More Than Half a Billion Dollars has Been Laundered Through a Cross-chain Bridge.

REN has shown several bullish signs on the daily time frame, and it is possible that the price will initiate a strong bounce as a result. The post REN's Weekly RSI Drops to Lowest Ever Level as Price Hits New Yearly Low appeared first on BeInCrypto.