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Jan 14, 2023 | 10:50 am
Global Cryptocurrency Market Cap Regain $1 Trillion Level!
The cryptocurrency market exceeded $1 trillion in market capitalization for the first time since November 2021. On January 14, the value of Bitcoin rose to over $21,000, an increase of 7.5%, as investors anticipate a potential bottom in inflation. This marks the 11th consecutive day of growth for Bitcoin, which had not been above $20,000 since November 8. Additionally, other major cryptocurrencies such as Ether, Cardano, and Dogecoin also experienced significant gains.Read More
Jan 2, 2023 | 1:15 pm
Pi Network’s Wrapped Pi – Now Live on Binance Chain
The Pi Bridge utility token, Wrapped Pi (WPI), has launched as an intended bridge between Pi Network and BNB Chain. The main aim of Wrapped Pi is to bridge between BNB Chain and Pi Network. The WPI is an unofficial token for the BNB Chain acting as an alternative for the native Pi Coin.
As per Pi Bridge, more Decentralized Finance (DeFi) products like liquidity pools will be built for Wrapped Pi on BNB Chain.Read More
Jan 2, 2023 | 12:52 pm
Lido Finance (LDO) Now Has Highest TVL in Defi
As per Nansen data in December, Ether staking solutions were in high demand as Ethereum shifted to a proof-of-stake mechanism. Lido Finance, a Liquid staking protocol, seems to be strengthened with the Ethereum merge with its total value locked (TVL) now hitting the top position in the Defi. As per Defi lama Data, Lido Finance now has $5.9 billion in TVL surpassing MakerDAO’s $5.89 billion and AAVE’s $3.7 billion.Read More
Dec 15, 2022 | 8:06 am
Why Bitcoin and Overall Cryptocurrency Market is Down Today ?
Following the Federal Open Market Committee (FOMC) meeting on Wednesday, the price of bitcoin and the rest of the cryptocurrency market experienced a downward trend. On December 14, the Federal Reserve (FED) announced that the federal funds rate would rise by 50 basis points (bps).
The announcement caused the prices to soar, and BTC increased by 3.39% to trade at $18,373. However, Bulls failed to sustain and the flagship currency tumbled down back to $17,822.Read More
Dec 13, 2022 | 7:53 am
Former FTX CEO Sam Bankman-Fried Arrested!
Ex – FTX founder Sam Bankman-Fried, who led the exchange until a liquidity crunch forced the Bahamas-based cryptocurrency exchange to declare bankruptcy, was arrested on Monday in The Bahamas after being criminally charged by U.S. prosecutors.
After getting official confirmation of the accusations against Bankman-Fried, the Bahamas’ attorney general’s office said it went forward with the arrest and added that it anticipates he would be extradited to the US.Read More
Dec 12, 2022 | 2:55 pm
Tron’s Stablecoin USDD De-Pegs, Hits June Lows
On Monday, the algorithmic decentralized USD (USDD) stablecoin on the Tron network dropped to $0.9695, its lowest level since June. A few hours ago, Curve Finance had almost $4 million USDD in liquidity taken from it, accounting for approximately 12.83% of the pool’s entire stake. Tron’s USDD on Curve has a drastically skewed USDD/3CRV liquidity pool, with USDD accounting for 86.1% of the total.Read More
Dec 12, 2022 | 11:38 am
How Will Bitcoin and Crypto Market React To CPI Report?
Major cryptocurrencies experienced small declines during Monday’s early Asian trade. Investors prepare for another interest rate hike on Wednesday as they wait for the release of the November consumer price index, a crucial inflation indicator.
On Tuesday, December 13, the Federal Open Market Committee (FOMC) will begin its subsequent two-day meeting.Read More
Dec 9, 2022 | 9:51 am
Paypal to Fly into Luxembourg
Paypal is planning to expand its cryptocurrency services to the European Union by opening its EU headquarters in Luxembourg. This move will allow other countries in the bloc to take advantage of Paypal’s crypto services once the Markets in Crypto Assets (MiCA) regulation comes into effect. The MiCA regulation allows registered firms in any single member state to provide services throughout the EU through a process called “passporting”.
Several cryptocurrency exchanges, including Binance, Coinbase, Nexo, and Gemini, have already registered in Italy using this process.Read More
Shiba Inu SHIB
Dec 8, 2022 | 5:48 pm
Anticipation Runs High As Shibarium’s Launch Inches Closer
A Shiba Inu developer, “Shiba Trophias,” recently tweeted that “time is ticking for the project’s official rollout.” The tweet was believed by the SHIB community to be referring to the release of Shiba Inu’s layer-2 network (L2), dubbed Shibarium.
However, the tweet did not explicitly mention Shibarium and instead noted that the V1 design of the project is complete and the development team is finalizing the contents. The launch will be in phases, but it is unclear which project the tweet was referring to.Read More
Dec 8, 2022 | 5:45 pm
FinCEN Cracks Down On DeFi
The US Financial Crimes Enforcement Network (FinCEN) is considering adopting stricter measures for decentralized finance (DeFi) to combat financial crimes.
As noted by the agency’s director, Himamauli Das, the agency is taking a closer look at its anti-money laundering and counter-terrorism financing framework for cryptocurrencies and digital assets to determine if additional regulations or guidance are necessary. The regulator is particularly concerned with the potential for DeFi to reduce or eliminate the role of financial intermediaries in areas of anti-money laundering.Read More
Dec 8, 2022 | 5:44 pm
Bank of Spain’s Newest Experiment- CBDCs!
The Bank of Spain is launching an experimental study on wholesale central bank digital currencies (CBDCs) to determine their adaptability to the needs of an increasingly digital society. The study will focus on simulating the movement of funds and the liquidation of financial assets, as well as analyzing the pros and cons of launching a wholesale CBDC. Interested parties can submit proposals through the application process, which ends on January 31, 2023.Read More
Dec 8, 2022 | 5:23 pm
Bankruptcy Court Orders Celcius to return $50M of Crypto
The order delivered by the Bankruptcy judge of the Southern District of New York directed Celsius, the crypto lender, to return the cryptocurrency worth $50M to Custody Account Holders. According to the Celcius filing in September, it has about 58,300 users who collectively deposited over $210 million with its custody and withhold, with 15,680 customers holding “Pure Custody Assets” worth around $44 million. The matter was taken to a hearing by the Bankruptcy Court of the southern district of New York on October 6. It applies to an amount of crypto that was worth about $44 million in September.Read More
Dec 8, 2022 | 12:30 pm
Elon Musk Loses His “World Richest Man” Tag
Elon Musk, the owner of Twitter and CEO of Tesla briefly lost the title of the richest man in the world on Wednesday, according to Forbes, due to a sharp decline in the value of his share in Tesla and a $44 billion bet on the social media company.
Musk briefly lost 1.6 trillion of his wealth. He was overtaken by a french billionaire, Bernard Arnault, whose family owns the world’s leading luxury group.Read More
Dec 1, 2022 | 9:52 am
FTX US is Completely Solvent and Withdrawals Are Open
Sam Bankman-Fried, also known as SBF, commented on the FTX US’s solvency in a recent interview conducted by Andrew Ross Sorkin for The New York Times at the publication’s annual DealBook Summit.
He said that “The US platform—the US-regulated platform with American users—to my knowledge, that’s fully solvent. That’s fully funded and I believe that withdrawals could be opened up today and everyone could be made whole from that.”Read More
Nov 30, 2022 | 6:32 pm
European Crypto Providers Should Report Tax Details As per New EU Bill
Crypto providers will have to report details of their EU clients’ transactions to national tax authorities within the bloc, under a bill set to be proposed by the European Commission next week.
The new law, inspired by international standards designed to curb crypto tax evasion, could also apply to stablecoins, derivatives, and non-fungible tokens (NFTs), and force even non-EU-based crypto providers to register within the bloc, the document reveals.Read More
Nov 30, 2022 | 12:27 pm
FTX Holders Likely to Get 100% Money Back! Fact Or Rumor?
Recently, a transcript of Tiffany Fong’s phone conversation with SBF surfaced. According to reports, the interview took place five days after FTX declared bankruptcy on November 11. SBF makes a few exaggerated statements concerning fund recovery in this interview.
Sam Bankman-Fried, the disgraced founder of the cryptocurrency exchange FTX, has been intermittently appearing on Twitter lately. He is reportedly scheduled to speak on November 30 at the DealBook Summit, the annual conference of the New York Times.Read More
Nov 29, 2022 | 1:18 pm
Kucoin’s Increasing APR, Is this a Glitch or An Indication of Something Worst?
The “KuCoin Earn” deposit interest rate on the current platform has reportedly risen, with annualized interest rates of 229% for ETH, 305% for BTC, and 100% for USDT, according to the official website of the cryptocurrency trading platform KuCoin.
Since the FTX crash, numerous platforms with the claim of offering high-interest deposits have closed down one after another, which is curious while cryptocurrency bears continue to slump. Where did the interest rate get so high?Read More
Nov 25, 2022 | 1:10 pm
Binance Allocates Additional $1B for Crypto Recovery Fund
Crypto exchange Binance has allocated another $1 billion for its industry recovery fund, effectively increasing the size of the fund to over $2 billion. The additional allocation was announced by Binance CEO Changpeng “CZ” Zhao on Friday.
The size increase comes a day after CZ said that Binance is targeting $1 billion for its crypto recovery fund. Aptos Labs, Jump Crypto, along with other prominent crypto companies joined Binance’s initiative and will contribute $50 million to the fund.Read More
Nov 25, 2022 | 12:23 pm
Poloniex Exchange To Merge With Huobi?
According to a recent tweet from Wublockchain, The Poloniex exchange, which Justin Sun acquired from Circle in 2019, will merge with his recently acquired Huobi exchange, according to sources familiar with the matter. Coingecko shows that Poloniex’s daily spot trading volume is only 1/10 of Huobi’s.
On November 24th, deposits and withdrawals for stablecoins on the BEP20 (BSC) network were suspended by the cryptocurrency exchange Poloniex. These include Binance’s own BUSD as well as USDT, USDC, and TUSD.Read More
Nov 24, 2022 | 6:20 pm
Cryptocurrency Crowdfunding Platform, Coinlist Halts Withdrawal!
Coinlist, one of the top cryptocurrency crowdfunding platforms, has halted its withdrawal. As per WuBlockchain tweet, Some community members reported that Coinlist, the largest cryptocurrency crowdfunding platform, was unable to withdraw coins. The official reason is that the custody partner is undergoing maintenance, but it has lasted for more than a week. Coinlist incurs a $35M loss in a 3AC crash.Read More
Nov 24, 2022 | 5:14 pm
Bybit Introduced a $100 Million Fund to Support Institutional Clients
Bybit, a cryptocurrency exchange, announced on Thursday that it had created a $100 million fund to aid institutional clients “during this challenging period in the crypto industry,” the company said Thursday” . Bybit would provide specialized account managers as well as existing and new market makers on its platform with up to $10 million.
“We are all in this together, and it’s up to everyone to do what they can to support our industry and this is one way we are helping to give back,” Bybit CEO said.Read More
Nov 24, 2022 | 3:19 pm
After Uniswap, Metamask Receives Criticism Over Data Concerns
ConsenSys, one of the companies responsible for the Ethereum merger, revealed on Thursday that it also gathers user information for its on-chain wallet service MetaMask. According to ConsenSys, it gathers certain information about user identification. such as contact details, profile information along with some other user data.
The company noted that the Ethereum wallet address and user’s IP address will be collected by Infura, the default remote procedure call (RPC) provider while utilizing the digital wallet MetaMask.Read More
Nov 24, 2022 | 12:45 pm
Binance is Bidding $1 billion Fund To Purchase Distressed Assets – Says CEO Changpeng Zhao!
CEO Changpeng “CZ” Zhao ( @cz_binance ), who is considering a bid for assets of bankrupt crypto firm Voyager, said on @BloombergTV his company is mistakenly believed to be Chinese “because I look Chinese”. “Binance is not a Chinese company, we are not related to China at all.”
CZ stated that the Binance team is engaging with Genesis, but does not know the details; even if Genesis is down, it will not affect the industry.Read More
Nov 24, 2022 | 12:30 pm
Bahamas Security Commission Weighs on Recent FTX Hack
The Bahamas’ Securities Commission claims that the ongoing “hacking attempts” on the digital assets of FTX hint that they were right to seize control of the exchange’s assets on November 12.
In its most recent statement, the commission claimed that although it had stopped FTX Digital Markets’ (FDM) ability to conduct business and removed its directors’ authority on November 10, these actions were insufficient to safeguard FDM’s clients and creditors.Read More
Nov 24, 2022 | 11:53 am
Sam Bankman-Fried Was Bribing Media – Says Elon Musk
The Twitter CEO made clear that Bankman-Fried ‘does not own shares in Twitter as a private company and ‘neither I nor Twitter has taken any investment from SBF/FTX.’
A former New York Times writer was accused of collaborating with the former CEO of a cryptocurrency company, and Elon Musk asked that the reporter reveal whether he had any financial ties to failing FTX chairman Sam Bankman-Fried.Read More
Nov 24, 2022 | 10:53 am
Former FTX CEO, Sam Bankman-Fried To Speak at New York Times DealBook summit
Sam Bankman-Fried, the founder of FTX, announced on Wednesday that he would be speaking at an upcoming New York Times summit on November 30.
According to a New York Times representative, Bankman-Fried is now scheduled to take part in the interview from the Bahamas. The speaker page had previously described Bankman-Fried as “C.E.O., FTX,” according to a Gawker article from November 11.Read More
Nov 23, 2022 | 7:47 pm
Elon Musk Reacts on Sam Bankman-Fried’s Twitter Share Holdings
According to semafor report, 2 weeks after clinching a deal to buy Twitter for $44 billion, Musk texted Bankman-Fried and invited him to roll the $100 million stake he had owned for a few months into a privately held Twitter. An FTX balance sheet prepared after the takeover closed on Oct. 28, and circulated to investors earlier this month, listed Twitter shares as an “illiquid” asset.
The previously unreported message, which was reviewed by Semafo discloses that Bankman-Fried owns a sizable chunk of a now privately held and debt-laden Twitter. Musk, who has publicly distanced himself from the crypto impresario since FTX failed earlier this month, now counts him as a financial partner in his effort to remake Twitter.
Overall, a few hours after the article was published, Musk himself denied the story, calling it false, and denied that the CEO of what was formerly one of the biggest exchanges in the world was involved in the acquisition of the social networking site.Read More
Nov 23, 2022 | 7:44 pm
Whales Stacking Huge XRP Tokens with Rumors of Ripple VS SEC lawsuit Settlement!
Data from WhaleAlert shows that over 225 million XRP tokens have been traded on and off of cryptocurrency exchanges by whales. Despite the increasing volatility in the cryptocurrency market, whales have collected more than 165 million XRP tokens in the last 24 hours. The entire worth of the whale collection is around $61 million.
The highest whale accumulation, as determined by the tracker, came from the cryptocurrency exchange Bitstamp and is valued at nearly $20.3 million.Read More
Nov 23, 2022 | 7:40 pm
El-Salvador To Raise $1 Billion To Construct “Bitcoin City”
El Salvador is moving forward with plans to issue bitcoin-backed bonds, as the country’s national assembly is considering a draft bill to regulate digital securities.
Maria Luisa Hayem Breve, the nation’s minister of economy, delivered the measure to the Legislative Assembly of El Salvador. The proposed legislation would create a National Digital Assets Commission to supervise the licensing of companies that create digital assets as well as other parties participating in the “public offering process” of digital securities.Read More
Nov 23, 2022 | 2:27 pm
New York’s Democratic Gov Puts Ban on Cryptocurrency Mining
On Tuesday, Kathy Hochul, the governor of New York, signed legislation outlawing some bitcoin mining businesses that use carbon-based energy sources. A proof-of-work mining firm will not be permitted to expand, renew permits, or allow new competitors to start operations for the next two years unless it employs only renewable energy.
The governor went on to say that it was an important move for New York in its efforts to reduce its carbon footprint by cracking down on mining.Read More
Nov 23, 2022 | 12:35 pm
Why Bitcoin and Altcoins are Bullish Today?
Since their yearly lows, Bitcoin, Ethereum, and the majority of cryptocurrencies have experienced a market-wide rally with modest increases. Even if it has increased by nearly 4% in the last 24 hours to $855 billion, the global crypto market cap today is still below the $1 trillion threshold.
At $15,932, the price of Bitcoin has remained above the resistance level. BTC will probably trade above $16,300 in the near future if the bulls can maintain the advantage they have today.Read More
Nov 23, 2022 | 12:32 pm
Why Litecoin (LTC) Price is Up Today?
In a volatile market, the price of Litecoin has recently risen. LTC Price defied the downward trend in the market by generating gains of 19% over the previous week to lead the top 100. The alternative currency increased by 13.7% over the previous day, rising from $61.53 to $70.10.
As On-chain metrics suggest investors are hodling $LTC . Analysis of Glassnode data suggests users increasingly view Litecoin as a store of value.Read More
Nov 19, 2022 | 5:26 pm
FTX Unveils New Asset Review Programme
The collapsed FTX exchange and other related companies that filed for bankruptcy on Nov 11 has launched a strategic review of global assets. The firms have requested to operate its new cash management system. As per the filings at court, FTX has appealed the court to allow them to pay a petition claim of $9.3 million to vendors.
The reports claim that the largest financial position is held by FTX EU Ltd which holds nearly $49.4 million in cash. Whereas West Realm Shires Services Inc and other acquisitions of FTX hold nearly $48.1 million. The collapse of FTX and its related firms is one of the biggest crisis in the crypto industryRead More
Nov 19, 2022 | 4:50 pm
FTX Hacker Is Now 27th Largest Ethereum Whale
After multiple transfers and exchanges, the main account which was linked with the FTX hack known as FTX Account Drainer now has 250,735 ETH which is worth $302.6M. As per Etherscan, the hacker is now the 27th largest Ethereum whale.
The Peck Shield, a Blockchain security company is the one that is looking into transfers and swaps done by the hacker. Till now there are 11 wallet addresses that have been found in connection with FTX Account Drainer.Read More
Nov 19, 2022 | 2:29 pm
Alert ! Terra Rebels Warns LUNC Investors Against Malicious Token
Terra Rebels, a developer group focused on retrieving Terra Classic network has alerted the community that there is suspicious token in the market. This was revealed via Tweet that said a dubbed coin, Interchain DAO Coin (IDC) has illegally acquired its logo. Terra Rebels also said that IDC is misleading investors to believe that Terra Rebels are the one who is leading IDC.
As per Terra Rebels, the token is moving around Cosmos network.Read More
Nov 18, 2022 | 4:06 pm
Cardano Based Stablecoin “USDA” is All Set to launch in Early 2023
Early in 2023, USDA, a stablecoin pegged to the US Dollar, will be released by Emurgo, the Cardano blockchain’s official commercial arm, and a founding organization.
The first stablecoin in the Cardano ecosystem to be fully fiat-backed and compliant with regulations. According to Emurgo, USDA will go live on the Anzens platform in Q1 2023, allowing users to tokenize their USD into USDA using credit/debit cards, wire transfers, or the conversion of ADA.Read More
Nov 17, 2022 | 6:04 pm
Crypto Market, A Threat To Global Finance, Claims FSB Officials
While the crypto market remains volatile and uncertain, the Financial Stability Board (FSB) plans to prepare a global regulatory framework. The FSB is responsible for monitoring and giving out standards for the global financial system which is done by institutions like the IMF.
FSB’s Chair, Steven Maijoor states that though the crypto market is seeing a massive growth, the lack of proper regulations and supervisions will pose a threat to global finance.Read More
Nov 17, 2022 | 5:07 pm
FTX Court Filings Claim Firm’s Fraud and Mismanagement
The court filings by FTX’s Bahamian liquidators claim that there are signs which point towards fraudulent activities of FTX exchange. The document states that the Joint Provisional Liquidators findings suggest fraud and mismanagement of FTX.
These documents were filed in the name of Brian Simms, Kevin Cambridge and Peter Greaves who are in charge of closing the company’s dealings in the Bahamas. Until the court makes any formal decision FTX’s all sales are set to be blocked.Read More
Nov 17, 2022 | 12:25 pm
El Salvador To Buy Daily One Bitcoin From November 18th
Amidst the crypto crisis and Bitcoin losing its key level, El Salvador’s Nayib Bukele seems to be all set to purchase Bitcoin yet again. The President announced that they will recommence Bitcoin accumulation where they will buy one Bitcoin each day, commencing from Nov 18. However, the details on how long the country will proceed with this plan is yet to be revealed.Read More
Nov 16, 2022 | 6:26 pm
Binance CEO To Give Out Complete Details On Industry Recovery Fund In The Next Two Weeks
At the start of this week, Binance CEO Changpeng Zhao announced his plans to launch an industry recovery fund to support the projects that are affected by the liquidity crisis after FTX collapsed. During today’s crypto conference at Abu Dhabi Global Market, CZ claimed that the exact amount for the industry recovery fund is still unknown and many other investors have shown interest to support the move.Read More
Nov 16, 2022 | 5:51 pm
Binance Awarded With FSP License At Abu Dhabi
Binance, one of the leading crypto exchanges has been given Financial Services Permission (FSP) by Financial Services Regulatory Authority (FSRA), Abu Dhabi Global Market (ADGM). This license will allow Binance to give custody to professional clients only if they meet FSP’s standard provided by FSRA.
ADGM chairman, Ahmed Jasim Al Zaabi claimed that will support Binance’s operations and R&D in ADGM in order to develop Web3.0 economy solutions. It was in September that FSRA and ADGM disclosed their principles for Crypto regulations.Read More
Nov 16, 2022 | 4:31 pm
Genesis Trading And Grayscale To Get Insolvent After FTX ?
After FTX it looks like Genesis Trading, a Crypto brokerage firm is being hit with insolvency issues. Tomorrow morning a call has been scheduled with creditors where Genesis is expected to reveal its connection with Alameda Research and FTX. It is also speculated that the firm will dissolve GBTC and ETHE trust to pay their creditors.
Meanwhile, Autism Capital, a proof-of-stake infrastructure provider has claimed that it’s the Grayscale who controls GBTC and ETHE trusts not Genesis. Genesis Trading has reported that currently it has $175 million in locked funds in its FTX account. Hence, Digital Currency Group (DCG) which controls Genesis and Grayscale has given $140 million in equity to Genesis.Read More
Nov 16, 2022 | 3:28 pm
“SBF Is One Of The Most Brilliant Trader,” Claims Kevin O’Leary
While Sam Bankman-Fried is being criticized for FTX collapse, Kevin O’Leary, a well-known investor has claimed that he is ready to invest in SBF again. He made this revelation in a Crypto Banter interview on Youtube. He believes that SBF is one the most brilliant traders in the crypto space and he also said that he liked what he built, the FTX.
Kevin’s statements were called unbelievable by Reflexivity Research’s co-founder Will Clemente. On the other hand, prosecutor John E Deaton quoted that SBF did not fail, instead he defrauded customers. Interestingly, Kevin is a paid spokesperson of FTX along with an investor of the company.Read More
Nov 16, 2022 | 1:23 pm
FTX Hacker Accumulates Massive ETH, A Warning For Ethereum Investors ?
The aftermath of FTX collapse is still hovering around as the FTX hacker who had stolen $600 million worth of assets is now selling other assets that he stole while accumulating massive Ethereum. Renowned crypto analyst Dylan LeClair the FTX hacker is currently one of the largest ETH holders with 228,523 ETH which is nearly $284.82M.
Market experts are now of the opinion that this could be a warning for Ethereum investors as the hacker might sell all of his Ethereum to cash out. Also Santiment claims that this FTX hacker has received funds from more than 100 addresses where one address has sent 100,614 ETH.Read More
Nov 16, 2022 | 11:13 am
Massive Drop In Coinbase’s Value, CEO Sells More Than 30,000 Class A Shares
As per the filings at the US Securities and Exchange Commission, on Nov 11 Coinbase CEO Brian Armstrong has dumped more than 30,000 Class A shares of Coinbase shares for $1.6 million. Just not that, Armstrong has also converted Class B shares into Class A shares.
In April 2021 when Coinbase went public, the firm’s shares were selling around $340 and today it is closed at $55.53. The reason for this is the drop in the crypto market which has resulted in decreased value of Coinbase in the past one year along with many other assets.Read More
Nov 15, 2022 | 6:24 pm
After Binance, OKX Plans To Launch Crypto Market Recovery Fund
After Binance CEO Changpeng Zhao announced crypto recovery funds, OKX has now stated $100 million in recovery funds in order to aid projects that are facing liquidity issues. The exchange believes it is important to support the firms and this will be in collaboration with OKXChain and OKX Demo Day.
Binance’s industry recovery fund has gained support from Huobi and Tron founder, Justin Sun as he is of the opinion that this will support builders and developers to recover from their loss during the crisis. Also after Binance announced the news, the first two cryptocurrencies Bitcoin and Ethereum price shot up.Read More
Nov 15, 2022 | 5:37 pm
Here Is How Ripple Could Have Escaped The SEC, Per Charles Hoskinson
Cardano creator Charles Hoskinson and CryptoLaw founder John Deaton shared their thoughts in regards to the Ripple vs SEC case on Twitter. Here Deaton claimed that there are crypto regulations already implemented in a few countries like Japan and Switzerland but not in the US.
Then Charles Hoskinson popped in to talk about how Ripple could have avoided the SEC. He believes that if Ripple had made an effort to create its own dApp network, the SEC would have spared Ripple. He also said that regulators usually move towards least resistance.Read More
Nov 15, 2022 | 5:04 pm
FTX CEO In Connection With SEC Chair, Gary Gensler
While the FTX-Alameda crisis unfolds, there is a new revelation about connection between FTX new CEO, Caroline Ellison and SEC chair Gary Gensler. It’s a known fact that Gensler was a professor at MIT where he offered a course on Blockchain and Money which stresses on use of blockchain technology. During his MIT career, Gensler was in close connection with Glenn Ellison and FTX CEO Caroline Ellison is the daughter of Glenn Ellison.
This comes out after Caroline Ellison recently claimed that other than Sam Bankman-Fried, the other two FTX executives were aware of funds transfer to Alameda.Read More
Nov 15, 2022 | 4:17 pm
FTX Hacker Gets 21,155 Ethereum Transferred From Other Hacker Account
PeckShieldsAlert, a data analytic company has disclosed that FTX hacker’s wallet address which is known as FTX Account Drainer has received massive Ethereum from other hackers addresses. The firm claims that FTX Account Drainers 2,5, and 6 have transferred 21,155 Ethereum to FTX Account Drainer.
As of now the hacker’s address contains a sum of 179,668 ETH which is worth nearly $227.5 million. This news is followed hours after PeckShieldsAlert revealed hackers account holdings. The FTX Account Drainer’s address has marked Ethereum as the top crypto asset. The address also holds $85.9 million worth of stablecoins, 145K SOL worth of $2 million along with 148K BNB ($41.7 million) among others.Read More
Nov 14, 2022 | 1:35 pm
Is Crypto.com The Next Crypto Exchange To Get Bankrupted ?
While the crypto market is still recovering from FTX bankruptcy, market experts warn for another exchange to collapse. The Singapore based crypto exchange, Crypto.com reported on Nov 13 that the firm transferred nearly $400 million in Ethereum to a whitelisted Gate.io address instead of a new cold storage address.
Also Kris Marszalek, CEO at Crypto.com confirmed via Twitter that 320,000 cryptos were sent to a whitelisted address connected to Gate.io instead of a new cold storage address. However, though the CEO confirmed that Gate.io has returned all the transferred funds, customers have started withdrawing their funds. Following the event, Binance CEO, Changpeng Zhao has warned investors to stay safe, indicating another exchange’s collapse.Read More
Nov 14, 2022 | 1:10 pm
Here Is How Binance Plan To Aid Liquidating Firms After FTX
The FTX exchange’s collapse has created havoc with major cryptocurrencies like Bitcoin and Ethereum losing their key price levels. Amidst this, Binance CEO, Changpeng Zhao has come up with a remedy to reduce negative effects of FTX collapse.
As per CZ, the Binance network is creating an industry recovery fund in order to help projects that are under liquidity crisis, but has a strong base. He has also asked the firms to contact Binance Labs if they believe they will fit in. Additionally, Binance CEO has asked other industry players to contact if they wish to co-invest. However, more details are still awaited.Read More
Nov 12, 2022 | 4:52 pm
13,000 ETH Burnt In The Last 3 Days As FTX Collapse
Amidst the FTX-Alameda crisis, on-chain transactions have spiked which has resulted in burning of 13,000 ETH in just three days as reported by Etherscan. This is the result of users flocking in to get their assets moved out of exchanges after FTX exchange collapsed.
The Reuters news agency has reported that Sam Bankman-Fried, FTX CEO has informed his employees that the firm had moved nearly $6 billion of customer withdrawals in the last three days. Also Ethereum’s hourly withdrawal on FTX has hit an ATH. On the other hand, ETH’s supply graph suggests that the currency’s supply has dropped massively earlier in the week.Read More
Nov 12, 2022 | 4:12 pm
Elon Musk Rejected FTX CEO’s $3 Billion Twitter Investment Offer
Michael Grimes, who was earlier known with an account name of Musk’s banker, has shared a conversation between Elon Musk and Sam Bankman-Fried. As per the conversation, Bankman-Fried had come forward to invest $1 billion to $5 billion in the Elon Musk-Twitter acquisition deal. Also SBF had offered to help Elon Musk move to Twitter to blockchain once the deal is completed.
After which Elon Musk explained that Twitter on blockchain is an impossible deal as the platform is not capable of dealing with peer-to-peer networks in order to assist bandwidth requirements. Later Elon Musk had also asked Michael Grimes if Sam Bankman really had $1-$5 billion.Read More
Nov 12, 2022 | 3:55 pm
More Than $1 Billion Customer Funds Goes Missing From FTX
Reuters news media has claimed that nearly $1 billion client deposits are missing from the insolvent FTX exchange. Sources from FTX stated that the firm’s CEO, Sam Bankman-Fried has secretly transferred $10 billion customer funds from FTX to his another company Alameda Research. Among this $10 billion, $1 Billion is missing.
One of the sources asserted that the total amount that is missing could be nearly $1.7 billion. While the other sources claim that the amount is between $1 billion to $2 billion that is falling short. They further said that SBF has used backdoor in FTX’s bookkeeping systemRead More
Nov 12, 2022 | 3:17 pm
Bitboy Urges Crypto Community To Apologize Ripple
A well-known crypto Youtuber, Ben Armstrong or also known as Bitboy has urged the crypto community to apologize to the XRP community. This is because many including himself had predicted the fall of Ripple. This statement from Ben comes after Ripple has gained a major victory following court’s order to SEC for submission of Hinman documents.
Now, Ben is of the opinion that as the Ripple vs SEC case will reveal most of the alleged corruption details of the US Securities and Exchange Commission (SEC), it will save the overall all crypto space. In a recent tweet Ben had also accused SEC chief Gary Gensler that he is worse than FTX CEO Sam Bankman-Fried.Read More
Nov 12, 2022 | 2:50 pm
Various Crypto Projects To Get Into Serious Trouble, Claims CZ
The world’s leading crypto exchange, Binance CEO Changpeng Zhao recently spoke about the present crypto downfall, comparing it with the 2008 financial crisis. Changpeng Zhao, also known as CZ, has claimed that the crypto industry will be facing devastating effects due to FTX collapse. He is of the opinion that many crypto projects might end up getting into serious trouble which will take them weeks together to get out of the situation.
CZ compares the insolvent FTX platform to lead investment bank Lehman Brothers which collapsed during the 2008 financial crisis. The 2008 financial crisis was the major reason for Lehman downfall, which wasn’t expected. Now, with FTX collapse it is expected to push away crypto investors.Read More
Nov 12, 2022 | 12:59 pm
JP Morgan : FTX Collapse Will Speed Up Crypto Framework
While the crypto market tumbles down with an effect of FTX collapse, one of the leading American banking institutes, JP Morgan is of the opinion that this will benefit crypto space in the coming days. JP Morgan believes that the FTX collapse will force the regulators to speed up the formation of crypto rules.
The institution further claims that this crypto framework will in turn increase institutional adoption. Next, the bank pens down that all the recent crypto collapse comes from centralized platforms and not decentralized ones. This fact will push the decentralized finance (DeFi) sector to new heights.Read More
Nov 12, 2022 | 12:42 pm
Tether Blacklists $30 Million USDT Moved Out By FTX Hacker
The crypto space woke up with another hack, the FTX hack and this comes a day after Sam Bankman-Fried led FTX filed for bankruptcy. Now, the latest update claims that Tether has blacklisted $30 million USDT which was transferred by FTX hacker. The world’s largest stablecoin issuer, Tether had recently cleared that it is not connected with FTX nor Alameda.
In the early hours today, FTX hackers transferred around 593.92 Billion SHIB which is worth $5,713,541 from two unknown wallets known as FTX US and FTX Exchange.Read More
Nov 12, 2022 | 10:53 am
FTX Hacked, Nearly 593 B SHIB Pulled Out Of The Platform
While Sam Bankman-Fried led FTX files for bankruptcy and nearly 593.92 billion Shiba Inu has moved out of FTX exchange, the reports claim that the firm is being hacked. As per Etherscan.io data, around 593.92 Billion SHIB which is worth of $5,713,541 has been mysteriously moved out of FTX US & FTX via two separate transactions.
The first transaction saw that an unknown wallet transferred 418,102,844,520 (418.10B) Shiba Inu from one of the FTX related wallets which is referred to as FTX US. Immediately there was another transaction from another FTX wallet called FTX Exchange which pulled out 175,820,350,512 (175.82B) SHIB.Read More
Nov 11, 2022 | 8:26 pm
FTX to File For Bankruptcy Protection in US
The troubled cryptocurrency exchange FTX said on Friday that it would file for bankruptcy in the US as its Chief Executive Sam Bankman-Fried quit, potentially setting off one of the largest market meltdowns ever.
The swift demise of the businesses was capped by Sam Bankman-crypto Fried’s empire filing for Chapter 11 bankruptcy in Delaware.
According to a tweet on Friday, the filings included entities connected to FTX.com, FTX US, and trading business Alameda Research Ltd. A corporation can keep running while developing a plan to pay off creditors under Chapter 11.
As a result of the filings, Bankman-Fried resigned as CEO, and John J. Ray III was chosen to take his position, according to the statement.Read More
Nov 11, 2022 | 5:43 pm
Dogechain To Support Proof of Stake (PoS) In Its Next Upgrade
Amidst FTX collapse, the Dogechain team has announced that they are planning to upgrade the network which will support Proof of Stake consensus mechanism. This comes just three months after the network launched layer-2 scaling solution. As per the official post on Twitter, the network plans to launch the support for PoS on Nov 14.
On the other hand, the network is opting to suspend its on-chain activities for 12 hours so that the upgrade will be launched successfully.Read More
Nov 11, 2022 | 4:58 pm
Ethereum’s Burn Rate Has Overtaken That Of Minting Rate
The second largest cryptocurrency, Ethereum which recently switched from proof of work (PoW) to proof of stake (PoS) has found its ground for the first time since its upgrade. The ultrasound.money suggests that Ethereum’s annual inflation rate has plunged to 0.029% which states that the network’s ether burning rate has surpassed the rate of minting.
Now, this negative inflation is pointing towards Ethereum’s net supply which has dropped by 5,598 since the network upgrade on September 15.Read More
Nov 11, 2022 | 4:10 pm
Rosen, The US Law Firm To File Class Action Lawsuit Against FTX
A global investor rights law, Rosen Law Firm has decided to investigate the security claims that are raised by FTX investors. In order to support FTT investors’ claim of their loss, Rosen has now chosen to file a class action lawsuit against the firm. Hence, investors whose loss is more than $100K have been asked to get in touch with Rosen’s advocate, Philip Kim, Esq.Read More
Nov 11, 2022 | 1:12 pm
ARK Investment Firm Purchase $12.1M Worth Of Coinbase Shares
While the crypto market slides with an effect of FTX-Alameda drama, Cathie Wood’s Ark Investments has raised its Coinbase (COIN) holdings after the firm made a purchase of 237,675 COIN which is worth $21.1 million on Nov 9.
Among 237,675 COIN shares, Ark Investment has transferred 207,527 shares to its ARK Innovation ETF, 22,416shares to its ARK Next Generation Internet ETF and another 7,732 shares to its ARK Fintech Innovation ETF.Read More
Nov 11, 2022 | 12:42 pm
Bahamas Securities Authority Suspends FTX.com’s Assets
While the investigations around Sam Bankman-Fried continues, Bahamas security authorities announced to freeze FTX.com’s assets. The Bahamas Securities Commission has claimed that the decision to freeze FTX assets was a cautious one.
Furthermore, authorities have also appointed a temporary liquidator to analyze the possibilities regarding the company’s position and to find if the firm has to be liquidated. Meanwhile, Sam Bankman-Fried has cleared that he is not opting to file any bankruptcy.Read More
Nov 11, 2022 | 12:10 pm
Sam Bankman-Fried : Alameda Research Is A Separate Entity From FTX
Everyday the FTX-Alameda has something new and today Sam Bankman-Fried who is a founder of both FTX and Alameda Research has stated that Alameda is not connected with FTX as it is an independent firm. On the flip side, the corporate filings and other documents are depicting a complete opposite claim.
Last week, Alameda Research’s balance sheet suggests that the firm contained more FTT tokens than any other. Also the reports claim that to boost Alameda Research, FTX used its customers’ funds during the crypto crash in May. Another key finding was that as per Singapore’s corporate filings, Sam Bankman-Fried and other FTX executives had held important positions at Alameda Research.Read More
Nov 11, 2022 | 7:52 am
Elon Musk Warns Twitter Employees of Possible Bankruptcy
Following enormous layoffs and as Elon Musk’s ownership of Twitter reached its third week, the billionaire revealed a precarious financial future for the social media site amid a departure of senior privacy and security executives.
According to numerous sources, the departures started on the same day Elon Musk addressed the staff for the first time and declared that “bankruptcy isn’t out of the question.”
Elon Musk, who is battling to get the platform’s finances under control, cautioned that bankruptcy was a possibility.Read More
Nov 10, 2022 | 7:01 pm
Binance’s Total market Value Accounts Nearly $69 Billion
Binance, the leading crypto exchange recently called off its partnership deal with bankrupt FTX after the firm learnt that FTX has mishandled its customer funds and alleged US agency’s investigations.
Now, Binance has disclosed a list of coldwallets and reserves which claims that the firm holds nearly 475,000 BTC, 4.8M Ether, 17.6B USDT, 601M USDC along with 21.7B BUSD and 58M BNB. These figures account for a total holding of nearly $69 billion as per present market prices. The firm has further stated that in the coming weeks it will release its Merkle Tree proof-of-funds.Read More
Nov 10, 2022 | 6:52 pm
Hodlnaut Had $18M Worth Crypto On FTX Before FTX Freezed Withdrawals
Hodlnaut, a Singapore based firm which was among many firms that succumbed to bear market in May freezed withdrawals in August after it lost $189.7 million. Now, the firm has been hit with another storm after it was revealed that it held $18 million worth of crypto on FTX.
As per Oct 28 reports, the firm’s consolidation accounted for nearly 95% of its assets as $18.1 million is held on FTX exchange which also includes Bitcoin (BTC), Ethereum (ETH) and stablecoins. However, it looks like Hodlnaut withdrew the funds before FTX freezed withdrawals.Read More
Nov 10, 2022 | 6:34 pm
FTX Has Gained $34M In Trading Fees Since Its Last Burn
As the investigation around FTX gets even more intense, everyday there is a new revelation about the firm. The latest update suggests that FTX has made $34 million in trading fees from the last time the firm burnt its FTT token on Oct 31. This comes amidst customers facing issues with their withdrawals.
After FTX customers withdrew $6 billion in 72-hours with the news of liquidity crunch, the withdrawals were freezed. However, the firm has continued its operations.
FTX was founded in 2019 by Sam Bankman-Fried and since then the firm has kept aside 33% of all trading-fee revenue so that it can burn FTT tokens every week. Nevertheless, the firm failed to submit the recent burn report which was scheduled for Nov 7.Read More
Nov 10, 2022 | 5:01 pm
Tether (USDT) Stablecoin Drops Below $1 peg
On Thursday, the stablecoin Tether USD (USDT) saw trading below $0.993, down 0.6% from its targeted $1 peg as investors worried about possible contagion effects from the crypto exchange FTX and its associated trading arm Alameda Research.
According to data from Kraken, Binance, Coinbase, and OKX, the stablecoin is now trading at the four exchanges in the $0.992-$0.993 range. USDT hit such price levels, Prior to May’s implosion of Terra and its associated UST stablecoin.Read More
Nov 10, 2022 | 4:40 pm
Another Blockchain Company Files An Appeal To Submit Amicus Brief To Support Ripple
Ripple is gaining immense support in its ongoing Ripple vs SEC case as many individuals and organizations have come forward to file an amicus brief in support of Ripple. The recent updates claim that a blockchain company, Reaper Financial, LLC has filed an appeal at the court to give an amicus brief supporting Ripple. This blockchain company has issued its native token, RPR on XRP ledger and also it burns other company’s coins on the crypto market.
As per the document filed, Reaper Financial makes note that the firm is not directly connected with Ripple. As per the firm, it aims to buy other company’s digital coins and destroy them by transferring them to inactive wallets so that the circulating supply is reduced.Read More
Nov 10, 2022 | 3:58 pm
FTX Bankruptcy Hits Hard, Grayscale Bitcoin Trust Faces Nearly 41% Premium Lost
After FTX succumbed into bankruptcy, the crypto market has tumbled down massively where Bitcoin has lost nearly 20% in the last seven days. Among many organizations which have faced the heat is Grayscale Bitcoin Trust (GBTC), world’s largest institutional Bitcoin fund.
As of Nov 9, 2022, GBTC has lost 41% as the price per share stood at $8.76. GBTC has been under a downfall since a year after it hit a target of $51.47 per share on Nov 12, 2021. The fact that GBTC is an investment trust fund instead of a redemption program, creates price variation against its Bitcoin holdings.Read More
Nov 10, 2022 | 2:18 pm
Celsius, An Insolvent Crypto Lender Files Time Extension To Submit Its Reorganization Plan
Celsius Network, a bankrupt crypto lender has filed an appeal to increase the exclusivity timeframe to submit the reorganization plan. This is the time when Celsius Network claims the right to submit the proper plan to reorganize the firm. Celsius is currently hit with numerous lawsuits along with its bankruptcy case.
On the other hand, the judge has asked Celsius not to pay retention bonus to a few of its employees which accounts to around $3 million. As per Celsius lawyers, this reorganization plan is an important one to stop its employees from moving which will divide the $3 million among 62 of the 274 employees.Read More
Nov 10, 2022 | 12:43 pm
JP Morgan : Bitcoin Price To Drop By More Than 15% In The Coming Days
The FTX-Binance drama has adversely affected the crypto space, especially the star cryptocurrency, Bitcoin which has dropped steeply below the $17,000 area. The latest updates from JP Morgan claim that Bitcoin is about to plunge towards $13,000 level. As per JP Morgan the crypto market will face huge margin calls in the coming weeks due to FTX getting into bankruptcy.
On the other hand, technical strategy head, Mark Newton has predicted Bitcoin to bounce back towards $13,000 level. Newton is also of the opinion that if bulls fail to capture the market, the King currency will fall around $10,000 further.Read More
Nov 10, 2022 | 11:45 am
Justin Sun To Partner With FTX After Binance Backed Off ?
On Nov 8, Binance the leading crypto exchange had signed a deal to acquire the insolvent FTX exchange, but the firm has now backed off from the deal. The reason that Binance stated was that FTX has mishandled its customer funds and alleged US agency’s investigations.
Now, after Binance called off the deal, FTX founder Sam Bankman-Fried is in a critical situation and is looking for all the possible options. However, following Binance’s back off, Justin Sun, Tron founder has shown interest in FTX partnership. Justin has claimed that his team is co-ordinating with Tron holders on FTX amidst liquidity crunch.Read More
Nov 9, 2022 | 6:16 pm
Facebook’s Meta Fires More Than 11,000 Employees amidst Loss In Revenue
Facebook’s parent company, Meta has announced to layoff more than 11,000 employees in order. The reason stated is to curb the losses after the firm experienced plunging revenue. This layoff accounts to reducing the team by 13% as per Meta’s Chief Executive Mark Zuckerberg.
As a result employees would be receiving 16 weeks of base pay and an additional two weeks for every two years of service. The employees will receive benefits of healthcost for six months. This move suggests that there is a drop in digital advertising revenue amidst the speculated recession which is expected to happen in 2023.Read More
Nov 9, 2022 | 6:01 pm
Alameda’s Ethereum Wallet Holding Drop By 50%
As per Lookonchain, an on-chain research firm, Alameda Research now holds only 56 Ethereum addresses which indicates a drop from its $500 million holdings on October 1. Currently, Ethereum is down by 16% in the last 24hrs.
Nearly $150 million of Alameda’s tokens are stored in its Ethereum wallets among which 50% was stored in just one wallet. On the other hand, other 13 Ethereum addresses hold beyond $1 million and another 19 have $100,000. Overall the research claims that Alameda has a debt of $3.6 million.
Meanwhile it has been reported that Alameda has supplied nearly 6.9 million FTT which is worth of $35 million to Abracadabra, a DeFi lending platform.Read More
Nov 9, 2022 | 4:57 pm
Circle & Tether Deny Any Connection With FTX Or Alameda
There were speculations that Circle and Tether, which supports USDC and USDT respectively, have some connection with FTX and Alameda. However, Jeremy Allaire, Circle CEO cleared via Twitter that the firm has never given any loans to FTX or Alameda and also said that Circle has never received any FTT as collateral. Further he said that there was a small portion of equity among Circle and FTX.
On the other hand, Paolo Ardoino who is a chief technology officer at Tether was quick enough to claim that Tether is not connected with FTX or Alameda in any aspect. These comments emerged after Sam Bankman-Fried agreed to sell FTX to its competitor Binance to avoid collapse.Read More
Nov 9, 2022 | 4:23 pm
$700M In Long Gets Liquidated As The Overall Crypto Market Tumbles
The global crypto market cap which was trading above $1 trillion has now dropped around $800 billion due to FTX’s liquidity issues. Around $700 million in long or the one who had bet for higher prices have been liquidated over the last 24hrs as these traders prediction has turned out to be negative.
Also with this liquidation Futures tracking Bitcoin and Ethereum has lost nearly $390 million along with $40 million SOL futures being liquidated. However, FTT Futures’ liquidation is comparatively lesser which accounts to $27 million.
Liquidation happens when any exchange closes a trader’s position because of complete or partial loss of the trader’s initial holdings.Read More
Nov 9, 2022 | 3:39 pm
ARK Invest To Purchase Coinbase Stock Amid Unstable Market Conditions
ARK claims to be purchasing 420,949 COIN shares, which are worth more than $21 million at the current market price.
According to an email from ARK’s trading desk, the purchase was made through three of the company’s ETFs. The fund stated that it is expanding its interest in Coinbase across all three of its funds: ARK Innovation, ARK Next Generation Internet, and ARK Fintech Innovation. ARK holds 7.7 million shares of COIN and has added about 2 million shares over the last year. Moreover, it is now planning to add 420,949 shares.
Coinbase’s stock has been pulled down by nearly 80% this year, and is still down by a whopping 85% from all-time highs that it recorded in November 2021. COIN is now trading at roughly $75 per share. Wood is still bullish about the firm and has an optimistic outlook for the cryptocurrency market in general
In late October, ARK announced that it’s ARK Innovation ETF would add 10,880 more shares to its COIN holding.
Wood also owns a large amount of Bitcoin as she purchased $100,000 worth of the asset in 2015 at a price of $250. According to the current trade price, her investment is now worth $7.2 million.
COIN is presently trading at $50, down 10% on the day.Read More
Nov 9, 2022 | 3:35 pm
Solana Price Drops 40% Amidst FTX-Alameda Crisis
As many speculated, the FTX and Alameda case did turn out to be a Terra LUNA like incident as the firm collapsed. This has affected the overall crypto market and one altcoin that saw an immense pull down is Solana (SOL).
In the last 24hrs Solana has lost more than 40% trading at $17.13 level. The Alameda crisis began in the last seven days and since then SOL has lost nearly 50%.Read More
Nov 9, 2022 | 1:21 pm
Charles Hoskinson Tweets, ‘Good To Be Turtle’ While FTX Collapse
In the early hours today, Cardano creator Charles Hoskinson tweeted a turtle video with a quote “Good to be the turtle.” Most of them claim this to be in response to what’s happening around the Crypto space in terms of FTX-Binance.
Earlier most of Cardano competitors have criticized Cardano for being too slow and moving around carefully. Solana co-founders accused Cardano network’s programming language of being too strict with correctness.Read More
Nov 9, 2022 | 11:40 am
Marathon Digital Is Now The 2nd Largest Bitcoin Holder After Microstrategy
Marathon Digital is now the world’s second largest Bitcoin holder among publicly listed companies. On Nov 8 Marathon Digital CEO Fred Thiel claimed during the company’s third-quarter earnings call that the firm currently holds 11,300 Bitcoin which is now worth around $205 million. The first position is still held by Microstrategy Inc., which claims to hold nearly 130,000 total Bitcoin. The third and fourth position is held by Coinbase and Jack Dorsey owned Block Inc.Read More
Nov 9, 2022 | 7:53 am
Why Crypto Market is Crashing Today?
The news of Binance Acquiring FTX created negative impact in the Crypto Market. Cryptocurrencies plunged Tuesday as investors digested an emergency deal struck for an undisclosed sum between major crypto exchanges Binance and FTX.
As a result, the cumulative market cap had dipped from its coveted position above $1 trillion after losing over $70 billion in a single day. Notably, BTC tumbled to a two-year low of $16,950 before steadying. BTC last visited sub-$17,000 in November 2020.Read More
Nov 8, 2022 | 11:40 pm
Why Binance Acquired FTX Exchange?
Crypto giant Binance signed a nonbinding agreement to buy rival FTX’s non-U.S. unit, FTX.com, to help cover a “liquidity crunch” at the cryptocurrency exchange, in a surprise move that lifted cryptocurrencies on Tuesday. Binance CEO Changpeng Zhao said in a tweet that FTX, run by billionaire Sam Bankman-Fried, had “asked for our help” after “a significant liquidity crunch.”
He said Binance, the world’s biggest crypto exchange, will be conducting due diligence in the coming days as the next step toward the acquisition of FTX.com.Read More
Nov 8, 2022 | 6:15 pm
McDonald Surpass Ethereum’s Market Cap As ETH Drops Below $1,500
While the world’s first cryptocurrency, Bitcoin has lost its key level, so do Ethereum and other altcoins. The lead altcoin failed to maintain its price range above $1,600 as the currency started its downward journey. The major reason for the crypto market to crash is the FTT-Binance tussle which has impacted the whole market.
Interestingly, McDonald is valued more than that of Ethereum as McD is around $203.6 billion while Ethereum’s market cap is nearly $191 billion.Read More
Nov 8, 2022 | 5:19 pm
Here Is How Ethereum’s Shanghai Will Benefit Traders
Shanghai, Ethereum’s next upgrade after the Merge, is scheduled for the second half of 2023. This upgrade plays an important role as after the upgrade is completed, ETH holders who have staked the currency for years will be allowed to withdraw them and make the network more scalable.
Additionally, the upgrade will introduce a few Ethereum improvement proposals (EIPs) like EIP-3651, EIP-3855 and EIP-3860.Read More
Nov 8, 2022 | 4:41 pm
Will FTX Be Another Terra LUNA ?
While FTX-Binance tussle continues, bears take over the market. Many crypto influencers have come forward to calm down FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao as it is majorly affecting the crypto market.
Meanwhile there are speculations hovering around the crypto space about FTX turning into another Terra (LUNA) like situation.Read More
Nov 8, 2022 | 3:17 pm
Vitalik Buterin Adds New Section To Ethereum’s Technical Roadmap
Ethereum co-founder Vitalik Buterin has come up with additional features to the network’s technical roadmap. The Ethereum roadmap is basically prepared to improve censorship resistance and Ethereum’s decentralized network.
As per Vitalik’s new plan there is a section called Scourge that is added along with the already existing – the Merge, the Surge, the Verge, the Purge and the Splurge. After the Ethereum network transferred to Proof of Stake (PoS) network on September 15.Read MoreBack to top button
Nov 8, 2022 | 1:29 pm
BitDAO’s BIT Token Drops 20%, The Firm Blames FTX-Alameda For The Dump
The FTX-Alameda drama is taking new turns everyday and today after DAO’s BIT token plunged by 20%, BitDAO, leading decentralized autonomous organizations (DAO) has entered the show. The BitDAO community which is majorly supported by Bybit and Pantera has asked Alameda to provide data that shows the firm still holds 100 million BIT. The firm had purchased the said tokens in Nov 2021 after converting 3.36 million FTT tokens.Read More
Nov 7, 2022 | 11:13 am
Why Binance is Liquidating FTX Tokens?
Recently, the CEO of Binance, Changpeng Zhao, said on Twitter that the business had made the decision to sell all of its FTX (FTT) tokens as a result of “recent disclosures that came to light.”
Later, CZ said the FTT liquidation was “simply post-exit risk management,” citing the lessons learned from Terra Luna Classic’s (LUNC) demise and the effects it had on market participants.
We won’t assist individuals who push against other industry players behind their backs, he continued.Read More
Nov 7, 2022 | 11:05 am
Kathy Griffin’s Account Twitter Suspended for Impersonating Elon Musk
Kathy Griffin has been suspended from Twitter for impersonating Elon Musk. Griffin had changed her name on the service to Elon Musk and was tweeting as Musk imploring people to vote for Democrats in Tuesday’s midterm elections.
Musk took to Twitter to warn other users engaging in behavior like Griffin’s saying, “Going forward, any Twitter handles engaging in impersonation without clearly specifying ‘parody’ will be permanently suspended.”Read More
Nov 7, 2022 | 9:26 am
Elon Musk Reveals Plan For Parody Accounts!
Elon Musk recently tweeted that users who engage in impersonation without explicitly designating it as a “parody” account will have their accounts permanently banned without notice. According to Musk, Twitter used to offer warnings before suspending users, but now that broad verification is being implemented, there won’t be any warnings and “no exceptions.”
This will be made apparent as a requirement for joining Twitter Blue, according to Elon Musk.Read More
Nov 7, 2022 | 7:50 am
After Twitter, Meta To Begin Layoffs!
Meta is the latest in a string of technology companies to announce layoffs.
Meta, the owner of Facebook and Instagram, will begin large-scale layoffs this week, according to the Wall Street Journal.
The layoffs come as Meta struggles with growing losses and as it invests heavily in developing its metaverse business. Its shares have fallen 73% this year.
The platform declined to comment about the layoff but referred to CEO Mark Zuckerberg’s recent statement.Read More
Nov 27, 2019 | 7:30 am
South Korea Introduces Laws – Crypto Now A Digital Asset
South Korea will now legalize Cryptocurrency in the country. The National’s Assembly passed the bill on Tuesday. As per this bill, cryptocurrency will now be categorized as digital assets in the country. The move is to legalize crypto and enhance investment opportunities. The Financial Services Commission (FSC)’s Financial Intelligence Unit will register all crypto-related business as a digital asset to prevent illicit practices such as money laundering.Read More
Oct 10, 2019 | 1:03 pm
Russia Central Bank Says ‘No Obvious Need’ For National Cryptocurrency
Russian central bank federation does not see the need to launch a Russia national cryptocurrency. Speaking at the forum the head of the national bank, Elvira Nabiullina stated that the institution has been studying the topic of cryptocurrency and the launch of a national cryptocurrency is not obvious for us.
She further questioned the cryptocurrency use for technological reasons and their advantage on Nation’s Economy. Giving an example, she says “For instance, in comparison with existing electronic non-cash payments.Read More