Amidst the FTX drama, it is still not clear what contagion effects the collapse of the world’s second largest crypto exchange will have on the industry as a whole. In addition to numerous hedge funds that have already spoken out about their exposure to FTX and Alameda, several exchanges are currently in the spotlight. The crypto community is currently evolving into on-chain detectives who want to discover if and which crypto exchanges are also mishandling their customer funds, trading with them, and thus not holding enough reserves. If a bank run like the one on FTX were to happen,....
Crypto.com Cronos Token Plunges 93% From Its ATH – Will The Exchange Become T...
Crypto.com token Cronos (CRO) price is consolidating above what may be its last remaining support. CRO is nursing a 45% monthly drop, putting it near the bottom of a declining parallel channel that has served as support for much of the year. After the catastrophe at the cryptocurrency exchange FTX, the focus has now shifted […]
Trezor reports 300% surge in sales revenue due to FTX contagion
The hardware wallet firm is certain that the latest uptick in demand is a result of investors rescuing their funds in the aftermath of the FTX failure. Amid growing concerns over centralized cryptocurrency exchanges in the wake of the FTX crisis, investors are increasingly moving to hardware crypto wallets.A major hardware wallet provider, Trezor, has recorded a major uptick in wallet sales in the aftermath of the FTX contagion, the firm’s brand ambassador Josef Tetek told Cointelegraph on Nov. 15.Trezor saw its sales revenue surging 300% week-on-week and it’s still growing, Tetek....
Metaverse of Entertainment Expected to Grow to Almost $29 Billion Driven by C...
A study from Technavio, a market research firm, has predicted that the area of the metaverse dedicated to entertainment, including virtual concerts, video games, and movies, will grow to $28.92 billion in value from 2021 to 2026. The report states that 33% of this growth will originate in U.S. markets, due to the intersection of gaming and film companies. Metaverse of Entertainment to Grow, Fueled by Consumer Adoption The metaverse and its future adoption continue to be a matter of active research by market forecasting companies. A report issued on Nov. 11 by Technavio, a market research....
Law Decoded, Nov. 7–14: How regulators reacted to the FTX crash
While some lawmakers expressed their eagerness to quick up the regulatory progress, others blamed the SEC in FTX’s monopoly. Last week was tough — the alarming series of crypto meltdowns continued with the failure of FTX, one of the biggest exchanges on the market. The crypto industry’s very own “Lehman Brothers moment” pushed regulators to react. United States Senator Cynthia Lummis, famous for her openly pro-crypto position, promised deliberate with her colleagues on whether there was market manipulation, while Maxine Waters, chair of the United States House of Representatives Financial....
BTC losses get real as Bitcoin SOPR metric hits lowest since March 2020
Sale price versus price paid diverges the most in over two years since the last Bitcoin “black swan” event. Bitcoin (BTC) sellers are nursing their largest overall losses since March 2020, one on-chain metric suggests.Data from on-chain analytics firm Glassnode confirms that Bitcoin’s spent output profit ratio (SOPR) has now fallen to two-year lows.BTC on-chain losses mountAs Bitcoin holders attempt to pull funds from exchanges into noncustodial wallets, those moving coins around are doing so at multi-year high losses.SOPR divides the realized value of coins in a spent output by their....
Crypto Twitter unhappy with SBF ‘puff piece’ pushed by mainstream media
While SBF refuses to interact with Crypto Twitter, the same community he once called home, he was featured in New York Times trying to explain the sequence of events that led to the fall of FTX. When the world realized the fraud Sam Bankman-Fried (SBF) committed to building his FTX empire, fellow entrepreneurs, investors and long-time believers unanimously acknowledged the damage caused to the credibility of the crypto ecosystem. On the other hand, mainstream media — that predominantly attacked crypto via negative speculations — has seemingly taken sides with SBF while paying no heed to....
Bitcoin Shows Strength As Price Holds Above $16,500; Is This A Bear Trap?
BTC’s price loses its previous all-time high of $18,000 as Binance rejects the FTX takeover, with the price responding with a decline to a region of $15,500. BTC’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors. BTC’s price bounces from a low of $15,500 on the daily timeframes as the price aims for a recovery toward the 50 Exponential Moving Average (EMA) In the last few days, the crypto market has been erratic, with the price of many altcoins, including Bitcoin (BTC), battling for....
Ripple Vs. SEC: Judge Grants Amici Briefs, SEC Playing Dirty?
In the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission, U.S. district court judge Analisa Torres has granted several motions to file amicus briefs. As a document made public yesterday shows, the court granted the motions filed by the Blockchain Association, John E. Deaton (representing 75,000 XRP investors), six XRP holders, […]
Onchain Data Reveals Alameda Acquired Specific Tokens a Month Before FTX List...
According to a report stemming from the blockchain analytics firm Argus, Sam Bankman-Fried’s trading firm Alameda Research obtained tokens ahead of FTX.com listings. The report claims that Alameda acquired roughly $60 million worth of tokens before the digital assets were scheduled to be listed on FTX. Blockchain Analytics Firm Says Alameda Had an Insider’s Edge a Month Prior to FTX Listings Wall Street Journal (WSJ) contributor Caitlin Ostroff detailed on Nov. 14, 2022, that analysis from the blockchain analytics firm Argus indicates the now-bankrupt Alameda Research had....
World population reaches 8 billion, but how many are in crypto?
The United Nations tipped the global population to tick over to 8 billion on Nov. 15, while the next billion isn’t coming for another 15 years. The global population figure has just reached a huge milestone, with 8 billion souls now sharing the planet. Meanwhile, crypto adoption continues to grow. According to Worldometer, which draws estimates from a 2022 United Nations report, the global population ticked over 8 billion on Nov. 15, doubling from a population count of 4 billion in 1974 — some 48 years ago. Worldometer said that as of 2022, the population’s annual growth rate sits at....
Elon Musk And Crypto Leaders Criticize NYT For Puff Piece On FTX Founder
FTX CEO Sam Bankman-Fried (“SBF”) has been attracting attention for the past two days with a thread of mysterious tweets in the form of single letters. A few hours ago, he made it complete: WHAT HAPPENED? [NOT LEGAL ADVICE. NOT FINANCIAL ADVICE. THIS IS ALL AS I REMEMBER IT, BUT MY MEMORY MIGHT BE FAULTY […]
Huobi Becomes Latest Crypto Exchange to Disclose Proof-of-Reserves
Huobi, the Seychelles-based crypto exchange, recently became the latest digital asset exchange platform to reveal the number as well as the value of its digital assets held in reserves. Huobi has said disclosing the assets held in reserves helps to boost users’ confidence in the exchange as well as to improve transparency. Huobi’s ‘Inexhaustive Overview’ The Seychelles-based cryptocurrency exchange, Huobi, became the latest digital asset exchange to attempt to assuage users’ anxieties when it unveiled its so-called “proof of reserves” on....
Sam Bankman-Fried’s weird, cryptic tweets attract even wilder theories
A series of strange tweets by former FTX CEO Sam Bankman-Fried caused widespread speculation on Twitter, but he claims he’s “improvising” and “making it up as I go.” Sam Bankman-Fried, the founder and former CEO of the now-bankrupt cryptocurrency exchange FTX, created a strange Twitter thread starting on Nov. 14, attracting the attention and speculation of the crypto community.The latest tweet at the time of writing, posted by Bankman-Fried at 5:30 am UTC on Nov. 15, is Bankman-Fried saying, “this is all as I remember it, but my memory might be faulty in parts.”10) [NOT LEGAL ADVICE. NOT....
FTX collapse could see crypto sector layoffs accelerate
While the full impact of FTX’s collapse is still unfolding, some have already warned of an increase in layoffs to come “in the months to follow.” The fall of crypto exchange FTX and potential resulting contagion could lead to an acceleration of crypto-company layoffs in the coming months, recruitment specialists warn.A Nov. 14 report from crypto data aggregator platform CoinGecko found that as of Nov. 13, the crypto space has seen 4,695 employees let go in 2022 so far, presenting 4% of staff cuts across all “technology startups.” However, the authors of the report warn that crypto layoffs....
Nifty News: Nike unveils NFT platform, Steve Jobs' sandals sell for $200K and...
A one-of-a-kind NFT of the Birkenstocks sandals worn by Apple co-founder Steve Jobs at various times during his life has sold for over $200,000. Nike's "Dot Swoosh" platform landsFootwear and apparel giant Nike has unveiled its latest foray into the non-fungible token (NFT) and Metaverse space with the launch of an NFT marketplace named “.Swoosh”While .Swoosh is still in the beta phase, Nike announced that its “first digital collection” is set to launch on the eb3 platform in 2023, with the rest of 2022 devoted to growing the platform and user base.✅ About .SWOOSH ♂️ .SWOOSH is a platform....
XRP Price Rallies 15%, Why Ripple Could Outperform Bitcoin and Ethereum
Ripple started a strong increase above the $0.350 resistance against the US Dollar. XRP price is now attempting a key upside break above the $0.380 resistance. Ripple started a fresh increase from the key $0.320 support zone against the US dollar. The price is now trading below $0.400 and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.380 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could start a strong increase if it clears the $0.38 resistance zone. Ripple Price Starts Fresh Increase After a....
Ethereum Price Near Make-or-Break Levels, Can ETH Start Steady Recovery
Ethereum started a recovery wave above the $1,210 level against the US Dollar. ETH must clear $1,260 and the 100 hourly SMA to start a decent recovery wave. Ethereum started a recovery wave above the $1,200 and $1,220 levels. The price is now trading below $1,280 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,260 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now struggling to clear the $1,260 resistance and the 100 hourly simple moving average. Ethereum Price Near Key Juncture Ethereum reacted to the downside....
Visa Terminates Agreements With Bankrupt Crypto Exchange FTX
Visa has reportedly terminated its global agreements with collapsed cryptocurrency exchange FTX and its U.S. arm, FTX US. The payments giant added that FTX’s “U.S. debit card program is being wound down by their issuer.” Visa Ends Agreements With FTX Visa Inc., the world’s leading payments processor, reportedly said Sunday that it has ended global agreements with bankrupt crypto exchange FTX. A Visa spokesperson told Reuters: We have terminated our global agreements with FTX and their U.S. debit card program is being wound down by their issuer. “The situation....
Apple job listings and patents hint at foray into ‘3D mixed-reality world’
A “mixed-reality world” by Apple could be fast approaching as recent job openings show the tech giant is hiring a number of engineers with AR and VR experience. Technology giant Apple appears to be working towards the development of a metaverse-sounding “3D mixed-reality world,” according to related patent filings and recent job postings.Since Nov. 1, over 30 jobs have been listed on Apple’s careers page related to augmented and virtual reality (AR/VR) with the Big Tech player seeking a mix of software and hardware engineers to be mostly based in its Technology Development Group (TDG).TDG....
Binance CEO urges crypto buyers to 'hold' amid 'unpredictableness'
Binance CEO Changpeng Zhao (CZ) said people should invest in crypto if they're using "cash that you don't need for a long time" as the market sees high volatility amid FTX's fallout. Binance CEO Changpeng “CZ” Zhao has strongly advised cash-strapped and inexperienced investors to stay away from trading cryptocurrencies amid extreme market volatility and unpredictability. On a Nov. 14 Zhao-led “Ask Me Anything” Twitter space hosted by Binance the CEO suggested that unsophisticated investors wait out the turbulent period instead of risking money needed for living expenses:“You should not....
Bitcoin Price Consolidates, Why 100 SMA Could Start A Decent Recovery
Bitcoin price remained stable above the $16,000 support zone. BTC could start a decent recovery wave if there is a clear move above the 100 hourly SMA. Bitcoin remained well bid above the $16,000 and $15,800 support levels. The price is trading below $17,000 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $16,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a recovery wave if it clears the $17,000 resistance zone. Bitcoin Price Faces Hurdles Bitcoin price reacted to the downside once again....
PAX Gold (PAXG) Leads Weekly Gains Among Top Coins
As the market suffers from FTX’s liquidity crisis, PAX Gold (PAXG), a commodity-backed crypto, continues to lead weekly gains. The 65th largest crypto by market cap was seen keeping a week-on-week gain of 5.26% and an intraday gain of 1.12%. Based on current market movement, PAX Gold is the week’s highest gainer. In fact, no other altcoin could boast of any gains, as the entire board was painted red. Notably, PAX Gold has received many mentions on social media within the last few days. The catalyst is also tied to the FTX case, as the embattled exchange holds some amount of the....
Visa terminates debit card program with FTX
A Visa spokesperson confirmed to Cointelegraph the company has terminated its global agreements with FTX. Only a month after payments giant Visa announced a partnership with FTX to roll out a debit card program in 40 countries worldwide, Visa has abruptly ended the program due to FTX's recent insolvency and bankruptcy issues. FTX’s liquidity issues were triggered last week when Binance CEO Changpeng “CZ” Zhao announced that Binance would liquidate the entirety of its FTX Token (FTT) holdings, which inadvertently led to a bank run that brought on FTX liquidity issues. In October, when the....
Bitcoin buyers drawn by rising prices, not dislike for banks: BIS report
The Bank for International Settlements (BIS) studied the main motives behind Bitcoin adoption by retail investors. Bitcoin (BTC) investors are more likely enticed by the cryptocurrency’s rising prices, rather than their dislike of banks or its perceived use as a store of value, a new report from the Bank for International Settlements (BIS) suggests. In a “BIS Working Papers” report published on Nov. 14, the central bank body looked into the relationship between Bitcoin prices, crypto trading, and retail adoption. It studied the drivers of crypto adoption by retail investors using crypto....
FTX Fallout: Sports Edition
As the drama and contagion surrounding the FTX fallout continues to unfold, so too have the sports brands, personalities and properties that were associated with the exchange. Part of why FTX’s damage is seemingly so residual lies within the fact that the firm’s reach began to touch so many different verticals: from political donations and […]
Elon Musk: Bitcoin Will Make It — Dogecoin to the Moon
Tesla CEO and Twitter chief Elon Musk has made bullish statements about bitcoin and dogecoin despite crypto market sell-offs. He said bitcoin “will make it” and “DOGE to the moon.” Amid crypto winter and the chaos surrounding bankrupt crypto exchange FTX, Musk believes there is a future for bitcoin, ethereum, and dogecoin. Elon Musk Thinks Bitcoin ‘Will Make It’ Tesla, Spacex, and Twitter chief Elon Musk commented on the future of bitcoin Monday. Responding to a Twitter user asking about where the price of the cryptocurrency will be in another year....
How The FTX Collapse Spiked Fees On Popular Bitcoin Exchanges
The collapse of an industry titan exposes how various bitcoin brokerages could experience massive differences in the cost of bitcoin.This is an opinion editorial by Michael Chapiro, a materials engineer, an aerospace and defense executive and founder of Caliber.On Wednesday, November 9, in the aftermath of the collapse of FTX, reports began emerging on Twitter of prices for buying bitcoin being quoted and subsequently executed for about $1,000 dollars above the spot market price on Swan and Strike, while the bitcoin price traded primarily in the $16-18k range, a small drop on the order of....
Let's move on from FTX’s collapse and get back to the basics
Sam Bankman-Fried’s degeneracy brought some turbulence to the market. Now it’s time to get back to the basics of transforming finance. Pundits are calling the collapse of the FTX exchange the end of cryptocurrency and venture capitalism related to it. But it’s not. Some of them anointed Sam “SBF” Bankman-Fried “The King of Crypto” — and then summarily killed the king. But, in reality, crypto never had a king. The end of FTX may mark the end of Americans using unregulated exchanges, and it certainly is the end of exchange-native tokens, but crypto itself hasn’t changed one bit.In reality,....
Kevin O’Leary: FTX Collapse Is a Turning Point for the Industry — ‘Crypto Bo...
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has investments in FTX. Following the collapse of the crypto exchange, he said it’s a turning point for the industry, emphasizing that the “crypto bottom is in.” He is now pushing for crypto regulation. “What I’m going to be doing is I’m going to fly to Washington and I want regulation. I want it now,” O’Leary stressed. Kevin O’Leary on Crypto’s Bottom, Relationship With FTX Shark Tank star Kevin O’Leary has spoken up about his investments in FTX after the firm filed....
Charities risk losing a generation of donors if they don't accept crypto
Crypto donations expose charities to a "new demographic of funders" that they can’t afford to miss out on. Charities accepting crypto donations are setting themselves up for an entirely new demographic of funders — who just so happen to be one of the most giving, according to charity organizations. Alex Wilson, the co-founder of The Giving Block, a crypto donation platform providing back-end support to charities, told Cointelegraph that the crypto community is still a market many charity organizations have nointeracted with. The top charity organizations in the world by funds received....
After FTX Implosion, It's Time To End Bitcoin's Dysfunctional Relationship Wi...
Michael Saylor’s recent dysfunctional relationship comment perfectly summarizes the disconnect between bitcoin and crypto.This is an opinion editorial by Tim Niemeyer, a Bitcoiner since circa-2018 and co-host of the Lincolnland Bitcoin Meetup in Springfield, Illinois.“Bitcoiners are trapped in a dysfunctional relationship with crypto and we want out!” — Michael SaylorAmidst the carnage of the FTX drama, a moment of clarity illuminated the Twittersphere. Michael Saylor’s words were the signal in the noise resulting from the dysfunctional trainwreck....
US President Biden announces pick for FDIC chair
Martin Gruenberg was the FDIC’s acting chair while the agency issued cease-and-desist orders to crypto firms and suggested that payment stablecoins merited further consideration. United States President Joe Biden announced he would be nominating Federal Deposit Insurance Corporation (FDIC) Acting Chair Martin Gruenberg to assume the position as part of a five-year term.In a Nov. 14 announcement, President Biden said he intended to nominate Gruenberg, who has previously served as acting FDIC chair from 2005 to 2006, 2011 to 2012, and from February 2022 to the present. Gruenberg assumed the....
FTX collapse followed by an uptick in stablecoin inflows and DEX activity
Investors piled into stablecoins following FTX’s collapse, and an uptick in DEX activity suggests a rising interest in self-custody options. On-chain data from Glassnode show Bitcoin’s (BTC) movements hit a new record for the largest net decline in aggregate BTC balances on exchanges, reducing by 72,900 BTC in one week. A similar movement occurred in April 2020, November 2020 and June 2022, with the current outflow leaving around 2.25 million BTC on exchanges. Bitcoin exchange balances with net position change line. Source: GlassnodeExchange exodus for Ether, but not stablecoinsWhile Ether....
Caribbean nation St. Kitts and Nevis may adopt Bitcoin Cash as legal tender b...
The country’s prime minister says it is considering introducing Bitcoin Cash on a legal basis, despite being within the territory of the pioneering CBDC DCash. The Caribbean nation of St. Kitts and Nevis may declare Bitcoin Cash (BCH) legal tender by March 2023. Prime Minister Terrance Drew made that announcement while he spoke at the Bitcoin Cash 2022 conference in St. Kitts on Nov. 12.St. Kitts and Nevis is a member of the Eastern Caribbean Central Bank and part of the ECCB’s DCash central bank digital currency (CBDC) program, which was launched in March 2019. “Our nation has always been....
After Kevin Zhou, the co-founder of the hedge fund Galois Capital, revealed half of the firm’s assets were held on FTX, another crypto asset management firm called Ikigai detailed that “a large majority of the hedge fund’s total assets” were stored on FTX. Ikigai chief investment officer, Travis Kling, told the public on Twitter and he said there’s “a lot of uncertainty about what’s going to happen next.” Ikigai Chief Investment Officer Shares ‘Some Pretty Bad News’ Another hedge fund has detailed it has lost money from the FTX scandal, according to a Twitter thread published....
The Turkish regulator joined the United States and the Bahamas in investigating the exchange's fall. Turkey’s Financial Crimes Investigation Agency is the latest authority to announce investigations into crypto exchange FTX after its collapse and bankruptcy filing on Nov.11.Along with FTX, the agency will look into people and institutions related to the platform — including banks, electronic money institutions and crypto-asset providers — according to an official statement from Nov. 14. The regulator also noted that it had been monitoring FTX’s activities in accordance with the country’s....
Binance’s CZ says users share blame for placing trust in FTX, should take res...
The Binance CEO was responding to a questioner who accused the company of profiting from FTX’s downfall while normal users suffered. During an ask-me-anything (AMA) session on Twitter Spaces on Nov. 14, Binance CEO Changpeng Zhao, also known as CZ, urged crypto users to take responsibility for their investment decisions and not put all of the blame on others when things go south.“As a user, you also have responsibility — you can’t just blame all of the responsibility to other people. When bad things happen, if you blame all of the responsibility, if it’s always to other people, you will....
South Korean prosecutors call on Terra co-founder Shin Hyun-seong to cooperat...
Authorities reportedly alleged Shin Hyun-seong earned roughly $105 million in profits from illegal sales of LUNA tokens before Terra’s collapse. Authorities in South Korea have reportedly requested Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, to appear as part of an investigation into the collapse of the firm.According to a Nov. 14 report from Hankyoreh, the Seoul Southern District Prosecutor’s Office’s Joint Financial and Securities Crime Investigation Team announced that Shin should appear before prosecutors sometime this week. Authorities reportedly alleged that....
BlockFi denies rumors that majority of its assets were held on FTX
Although it admitted to “significant exposure,” the crypto lender assured clients that it has “the necessary liquidity to explore all options.” Crypto lender BlockFi issued an official notice to its clients on Nov. 14 denying rumors that the majority of its assets were on FTX prior to the exchange’s collapse. According to an update shared by BlockFi, although a majority of its assets were not on FTX, it still has “significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line....
Amid FTX collapse, crypto funds see largest inflows in 14 weeks
The Bitcoin price briefly fell below $16,000 last week as Sam Bankman-Fried’s FTX Group filed for bankruptcy. Inflows into cryptocurrency investment products rose sharply last week as institutional investors bought the dip amid the marketwide collapse triggered by FTX’s and Alameda Research’s bankruptcies. Digital asset investment products saw inflows totaling $42 million in the week ending Nov. 13, the largest increase in 14 weeks, according to CoinShares data. Bitcoin (BTC) investment products saw the largest inflows at $19 million, followed by multiasset and Ether (ETH) funds at $8.6....
The Bitcoin Maxis Warned You About FTX
What the FTX failure means for Bitcoin, and why it may be the best thing to happen in 2022 as well as the catalyst for the next bull market.This is an opinion editorial by Aleks Svetski, author of “The UnCommunist Manifesto,” founder of The Bitcoin Times and Host of the “Wake Up Podcast with Svetski.”“The Bitcoin Maximalists were right, again. Damn them. Damn them to hell. This entire thing is their fault!”Many a time, especially since 2020, I’ve heard variations of the following from people all across the “crypto”....
Bitcoin derivatives data reflects traders’ mixed feelings below $17,000
Derivatives data shows increased demand for margin longs, contradicting traders’ perception that further downside is in store for Bitcoin. Bitcoin (BTC) lost 25.4% in 48 hours, bottoming at $15,590 on Nov. 9 as investors rushed to exit positions after the second-largest cryptocurrency exchange, FTX, halted withdrawals. More importantly, the sub-$17,000 levels were last seen almost two years prior, and the fear of contagion became evident.The move liquidated $285 million worth of leverage long (bull) positions, leading some traders to predict a potential downside of $13,800.What an exciting....
Inaugural Gam3 Awards to honor the best Web3 games of 2022
Following the announcement, a representative confirmed that the venture capital firm Bitkraft would also be joining as a partner and member of the jury. The inaugural edition of the Gam3 Awards — a new Web3 gaming awards event hosted by Polkastarter Gaming — is set to take place on Dec. 15, according to an announcement provided to Cointelegraph on Nov. 14.Awarding the best gam3s 16 categories. 30+ industry leaders. $300k prizes. 15 December 2022. Save the date. Voting starts soon ⬇️https://t.co/p0niqHYzHw pic.twitter.com/8n0ArqZXS1— GAM3 AWARDS | 15th Dec (@PolkastarterGG) November 14,....
US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Go...
According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after “direction from U.S. federal law enforcement.” Paxos Complies With U.S. Law Enforcement Request to Freeze 11,184 PAXG Paxos updated the public on Nov. 12, 2022, and detailed that the company has frozen 11,184.38 pax gold (PAXG) tokens held on the FTX platform. The update was written by Paxos global general counsel, Ben Gray. PAXG is a crypto token....
Quant Points Out Striking Resemblance Between 2017 And 2021 Bitcoin Cycles
A quant has pointed out the similarities between the 2017 and 2021 Bitcoin cycles, something that could hint at how the rest of this bear market might play out. Both 2017 And 2021 Bitcoin Cycles Saw New Lows Around The 365-Day Mark Since The Top As explained by an analyst in a CryptoQuant post, the two cycles are more similar than one might expect them to be. The indicator of relevance here is the “drawdown from ATH,” which measures the percentage decrease in the price of Bitcoin following the all-time high during each cycle. Here is a chart that shows the trend in this metric....
Former Huobi-linked entity says it has $18.1 million stuck on FTX
Lin Li, the company’s founder, has agreed to lend up to $14 million to New Huo Technology to bail out affected clients. According to a new filing with the Stock Exchange of Hong Kong on Nov. 14, investment holdings company New Huo Technology, formerly known as Huobi Global, has $18.1 million worth of deposits stuck on troubled cryptocurrency exchange FTX. Of this amount, $13.2 million consists of clients’ deposits and $4.9 million comprises assets belonging to Hbit, another subsidiary. New Huo Technology is majority-owned by Chinese businessman Lin Li, who also created Huobi Global, the....
After FTX Debacle, Exchange Distrust Among Bitcoin Investors Grows
On-chain data shows Bitcoin investors have been withdrawing large amounts from exchanges as distrust around them has grown recently. FTX Debacle Leads To More Bitcoin Investors Distrusting Exchanges As pointed out by an analyst in a CryptoQuant post, investors who have become afraid to hold on exchanges are sending their BTC to personal wallets. There […]
Arbitrum sees steady growth as airdrop speculation leads to increased earnings
Arbitrum earnings are soaring as daily active users flood the layer-2 platform with the hope of an eventual airdrop. Post Ethereum (ETH) merge, layer-2 blockchains have been catching the eyes of users and investors alike. Research firm Delphi Digital has been tracking Arbitrum since August and recently shared its analysis in a monthly market report. According to data, user behavior and historical analysis show multiple trends of rapid growth in transactions, total value locked (TVL) and daily active users at Arbitrum-based platforms. Arbitrum reaches the top-10 in monthly earningsWhen....
Manhattan District Attorney’s Office probes FTX collapse: Report
A source with knowledge of the investigations reportedly said New York authorities were looking into the collapse of FTX following the firm declaring bankruptcy on Nov. 11. Prosecutors with the United States attorney’s office in the Manhattan district of New York have reportedly begun investigating the fall of crypto exchange FTX.According to a Nov. 14 report from Reuters, a source with knowledge of the investigations said authorities in New York were looking into the collapse of the major crypto exchange following FTX declaring bankruptcy on Nov. 11. The report followed news the state of....
