3 key crypto price events to watch in the wake of the FTX and Alameda debacle
FTX and Alameda’s Ponzi-like trading scheme has dealt a heavy blow to the entire crypto industry. Here are three developments to keep a close eye on. Up until the start of this week, Bitcoin (BTC) had been demonstrating record-low volatility, and this gave altcoins enough latitude to paint some nice technical setups. At the same time, on-chain data and technical analysis were beginning to suggest that BTC was midway through carving out a bottom, and many analysts believed that brighter days lay ahead. Fast forward to the present, and the volatility spike the market received actually turned....
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Coinbase CEO Brian Armstrong said that the recent FTX and Alameda debacle was a result of risky practices such as the misuse of user funds. Amid the liquidity crisis that fell over crypto exchange FTX and trading firm Alameda Research, some of the largest crypto companies face calls for transparency to let users know if there are risks. However, executives assured the community that they do not have exposure to either of the troubled firms. In response to concerns brought up by the crypto community, Tether CTO Paolo Ardoino clarified in a tweet that the stablecoin issuer has no exposure to....
YFI price is still in a downtrend and many investors believe all attempts at recovery are being suppressed by Alameda Research. Yearn Finance (YFI) price has been in a serious rut during the past 2 weeks and many in the crypto community blame the sharp correction on Sam Bankman-Fried (SBF), the CEO of Alameda Research and FTX. In the past month, DeFi giant Yearn.finance’s native token YFI dropped 62.7% from $43,970 to $16,360.As Cointelegraph has reported, the majority of DeFi tokens corrected 40%-60% in September and this sell off took place as Bitcoin and Ether (ETH) prices also dropped.....
As the first week of October unfolds, the fast-paced Bitcoin and crypto space is set for another blockbuster week, with several pivotal events on the horizon. From regulatory advancements, and historical trend analyses, to macroeconomic influences, the market is set to witness a whirlwind of events that could shape the future price trajectory. #1 Launch […]
As the Bitcoin and crypto landscape continues its rapid evolution, this week stands out as a pivotal juncture filled with events that have the potential to reshape market sentiments and dynamics. From Bitcoin’s price performance to macroeconomic indicators and significant documentaries, here’s a closer look at the key events that every enthusiast and investor should […]
The trial of Sam Bankman-Fried, the founder of cryptocurrency exchange FTX and hedge fund Alameda Research, is set to commence in New York on Tuesday, October 3. This comes almost a year after the collapse of both FTX and Alameda Research. The events leading up to the trial paint a picture of alleged fraudulent activities […]