Users Flee FTX? Exchange Sees 47% Drop In On-Chain Balance
The crypto industry is witnessing a new war between exchange giants FTX, led by Sam Bankman-Fried, and Binance-led Changpeng “CZ” Zhao. Over the past week, rumors emerged about the former exchange becoming insolvent and holding an illiquid balance sheet. Related Reading: Tron Transaction Volume Balloons To 5.3 Million In Q3, But There’s Still Doubts Ahead The Binance CEO seems to be fulling speculations. During the weekend, CZ expressed concerns about “recent revelations” around FTX. In 2021, Binance invested FTX and received around $2 billion in BUSD, and the....
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Recently, the crypto space has been facing an unexpected display between two prominent crypto exchanges, Binance and FTX. The CEO of Binance, Changpeng Zhao (CZ), announced that the exchange would liquidate all FTT tokens in its holdings. Naturally, this news created a negative impact on FTX and its token. Further, the entire crypto market has been thrown into the red as most crypto assets are losing value. The crash in the price of FTT is also influenced by a massive depreciating trend on several other tokens. Related Reading: Users Flee FTX? Exchange Sees 47% Drop In On-Chain Balance FTX....
Did Binance just do what we think it did? The world’s biggest cryptocurrency exchange by trading volume will likely buy one of its biggest competitors. The market was in turmoil, the players were in panic mode, but this news calmed the waters in a big way. What’s next, though? Will Binance actually go through with the buyout? Is the deal final? And what does this story says about FTX’s business model? Were they fractional-reserving their way to success? Let that sink in… pic.twitter.com/Whj50bR2Ey — wolf (@ImNotTheWolf) November 8, 2022 Let’s analyze the official but not....
Did Binance just do what we think it did? The world’s biggest cryptocurrency exchange by trading volume will likely buy one of its biggest competitors. The market was in turmoil, the players were in panic mode, but this news calmed the waters in a big way. What’s next, though? Will Binance actually go through with the buyout? Is the deal final? And what does this story says about FTX’s business model? Were they fractional-reserving their way to success? Let that sink in… pic.twitter.com/Whj50bR2Ey — wolf (@ImNotTheWolf) November 8, 2022 Let’s analyze the official but not....
On-chain data shows that Bitcoin has been seeing an exodus of investors recently, while the Ethereum network has continued to grow. Total Amount Of Bitcoin Holders Have Just Seen Largest Drop Since March According to data from the on-chain analytics firm Santiment, the Total Amount of Holders indicator has just seen its largest 3-day drawdown […]
European stocks declined and the euro made an early drop as the outcome of the Greek referendum and their rejection of austerity had investors flee to the traditional safe havens of US Treasuries, German bunds and the Japanese yen. Following an "equities bailout" by the Peoples' Bank of China the Shanghai Composite index lifted after the past few weeks' $3.2 trillion sell-off. This post is powered by the Bitcoin Trading Network xbt.social - CCN29 and get 29USD off! In the Calendar This Week. The spotlight falls on this week's Euro Summit, tomorrow 7 July, where politicians and finance....