Months after the collapse of Terra’s U.S. dollar-pegged token UST, the organization created to protect the once-stable coin, the Luna Foundation Guard (LFG), published an audit report audited by the New York-based consultancy company JS Held. According to the report, LFG claims to have spent 80,081 bitcoin and 49.8 million stablecoins, which add up to
Month: November 2022
If FTX is sparking new Bitcoin (BTC) bear market lows, BTC price action has further to fall to match Mt. Gox. Data from on-chain analytics firm Glassnode confirms that the “Mt. Gox bear market” almost a decade ago still beats the 2022 lows. FTX vs. Mt. Gox: Same, same but different With the fallout from
The hacker that exploited the now-bankrupt FTX exchange last week made a tidy fortune that has propelled them to Ether (ETH) whale status. Just a day after the embattled FTX exchange filed for Chapter 11 bankruptcy, its wallets were drained for more than $663 million in various crypto assets, according to blockchain intelligence company Elliptic.
Solana (SOL) has lost 60% of its market value in a week due to its exposure to the now-defunct crypto exchange FTX, which could continue to haunt the “Ethereum killer” well into the future. FTX/Alameda exposure hurting Solana price FTX and its sister-firm Alameda Research is liable to have control over 50 million SOL, according
The world’s third-largest cryptocurrency exchange, FTX, started the year with a $400 million Series C funding round, taking its valuation to over $32 billion. Ten months later, the crypto exchange is staring down the possibility of bankruptcy after its bid to be acquired by Binance failed. FTX was seen as one of the largest global
Urgent crypto market warning as one of the major exchanges FTX is going bankrupt. This will be my personal crypto plan for the next 3-6 months and how I plan on navigating the storm. In this video we will be looking at: 0:00 – Intro 1:49 – Current Situation 3:07 – My Crypto Plan 5:23
The superintendent of the New York Department of Financial Services (DFS) joined a nationwide regulatory discussion in the aftermath of the FTX collapse with a fresh take. Adrienne Harris believes that any federal crypto legislation to come should not override state regulatory regimes. During her speech under the headline “Digital asset regulation: The state perspective”,
The collapse of FTX and subsequent calls for tougher regulation by the likes of U.S. Senator Elizabeth Warren have increased the likelihood of regulators adopting even stricter crypto laws. In Africa, crypto industry participants warn of the unintended consequences arising from rushed and over-restrictive regulations. The Game-Changing Role of Crypto in Africa As the crypto
Circle, the company behind the issuance of USDC Coin (USDC) said recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exchange Binance. In September, crypto exchange Binance announced it will auto-convert USDC to its own stablecoin Binance USD (BUSD), last week saw the collapse
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
Bitcoin (BTC) spiked to $17,000 at the Nov. 15 Wall Street open as fresh United States economic data continued to show inflation cooling. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Good” PPI boosts risk assets Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it came closer to multi-day highs. Volatility had returned an
The United States Securities and Exchange Commission, or SEC, has extended its window to decide on whether shares of ARK 21Shares’ Bitcoin exchange-traded fund could be listed on the Chicago Board Options Exchange BZX Exchange. In a Nov. 15 announcement, the SEC issued a notice for a longer designation period for the application of ARK
The collapse of cryptocurrency exchange FTX has put industry peers under the microscope with calls for transparent accounts of token holdings and assets under management. Major cryptocurrency exchanges like Binance, Huobi, OKX and Crypto.com have made efforts to share details of their assets and portfolios to assuage the wider space. This comes after investor confidence
With the cryptocurrency market becoming ever more complex and intimidating, California Attorney General Rob Bonta had decided to issue guidance for novice crypto buyers. The California Office of the Attorney General’s website now features a page that will help those new to crypto “avoid the hype, [and] get the facts.” “Don’t fall for a fantasy
On Nov. 14, the New York Times (NYT) published a massive 2,200-word expose and interview with the former CEO of FTX, Sam Bankman-Fried (SBF), and the article was criticized a great deal after it was published. The article noted that SBF would only offer “limited details about the central questions swirling around him,” and most
Trust Wallet Token (TWT) has surged by nearly 150% in the last six days, bucking the downturn in the cryptocurrency market, whose net capitalization has crashed by almost $100 billion in the same period. TWT whale accumulation picks up momentum TWT’s price reached an intraday high of $2.43 on Nov. 15, a day after establishing
The Japanese cryptocurrency exchange Liquid is the latest company to halt withdrawals amid the ongoing crisis of centralized crypto exchanges. The FTX-owned crypto exchange Liquid took to Twitter on Nov. 15 to officially announce a suspension of fiat and crypto withdrawals on its Liquid Global platform. Addressing the reasons for the suspension, Liquid cited compliance
Even as the ongoing Binance-FTX saga continues to dominate the crypto airwaves, there has been a growing trend — an uneasy one at that — that has been garnering the attention of many digital currency enthusiasts in recent months, i.e., hackers returning partial funds for discovering exploits within a protocol. In this regard, just recently,
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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
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