Ethereum Reserves Of FTX Collapse In The Midst Of Liquidity problems
FTX seems to fall deeper into its despair pit without any anchor. The crypto exchange is facing several issues threatening the stability of the firm. First, there appears to be an ongoing war between FTX and the Binance crypto exchange. This is presumed to involve their respective CEOs, Sam Bankman-Fried (SBF) and Changpeng Zhao (CZ). Binance announced its plans to liquidate FTT token holdings, which it has carried out. There’s still no explanation for Binance’s sudden lack of interest in the FTT tokens. However, some opine that Binance may consider holding FTT tokens as a....
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Is this the beginning of the end for FTX and Alameda Research? Or will both organizations come out stronger on the other side? As NewsBTC reported, Binance’s CZ smelled blood in the water and announced that his exchange was selling their FTT reserves. That created a sort of a bank-run that left FTX in a dangerous position. Are both of the Sam Bankman-Fried-led organizations’ destinies tied to the FTT token? Or will they be fine even if it falls? In the most recent Bitcoin Magazine Pro report, they describe the current situation as, “a wave of panic taking shape that questions the solvency....
FTX's collapse mirrors that of most liquidity crises over the last 100 years, but Bitcoin offers a break in the cycle.
The number one sports altcoin, Chiliz has been chilling with impressive gains this past week. Although it has traded in the red zone for most of today, CHZ still holds over 30% gains from the last seven days. Its continued shine comes as the FIFA world cup draws closer. As FIFA’s official blockchain partner, there’s bound to be massive activity in the ecosystem throughout the tournament. The top-50 crypto has also enjoyed massive mentions on Twitter and other social media this period. There’s a potential that CHZ is heading for a breakout. However, the charts show that it has reached the....
If you’re borrowing against your Bored Apes, you may want to keep your eyes peeled. Liquidity on major NFT lending platform BendDAO has been under a major stress test over the past 24 hours, as ETH levels appear to be under strain. At time of publishing, the BendDAO ETH reserves have been replenished, and sit […]
Data shows Bitcoin and Ethereum exchange reserves continue their downtrend as the supply shock tightens its grip. Bitcoin And Ethereum Exchange Reserves Trend Downwards As pointed out by a crypto trader in a tweet, both Bitcoin and Ethereum continue to experience a decline in their exchange reserves. The exchange reserve of an asset is an […]