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
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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
The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States requesting the exchange halt operations for its Europe arm. According to a Nov. 11 Reuters report, the CySEC said it had asked FTX Europe to “suspend its operations and to proceed
On Nov. 11, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met with Thomas Webb, the founder of the interoperable avatar game Worldwide Webb, to discuss the integration of interoperability in Web3 and the Metaverse. By definition, interoperability is a feature of Web3 whereby a product or system can work
The Securities Commission of The Bahamas (SCB) — the country’s securities regulator — froze the assets of FTX Digital Markets (FDM) and “related parties” on Nov. 10 and suspended FTX’s registration in the country. In a statement the SCB said it was aware of “public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred
Bitcoin (BTC) miners could form the next BTC price “trigger,” research warns as withdrawals intensify. In a Quicktake post for on-chain analytics platform CryptoQuant on Nov. 10, contributor MAC.D suggested that miners could soon face “bankruptcy.” Research: Network conditions “will strangle” miners After BTC/USD fell 20% in a matter of days, miners began operating at a
Financially-troubled crypto exchange FTX has brought its website back online following a period of intermittent downtime — with the trading platform now sporting a banner confirming withdrawals are halted and advising users against depositing. The FTX website returned online at approximately 9:00 pm UTC on Nov. 9, after encountering five separate periods of network downtime
Bitcoin (BTC) crashed below $16,000 on Nov. 9, driving the price to its lowest level in two years. The two-day correction totaled a 27% downtrend and wiped out $352 million worth of leverage long (buy) futures contracts. To date, Bitcoin price is down 65% for 2022, but it’s essential to compare its price action against
Optimism developers jvmi and Kelvin Fichter released a new app called Magic Mirror on Nov. 9 that allows NFT holders to copy or “mirror” their Optimism NFTs to the Ethereum mainnet. NFT holders can now use their Optimism NFTs in a variety of verified apps, such as in Twitter’s profile badge system — where previously,
On Thursday, at approximately 12:48 p.m. (ET), the embattled exchange FTX revealed that it has created a special facility with Tron. The deal allows holders of specific Tron-based coins to withdraw the tokens to external wallets on a 1:1 ratio. While coin market aggregation sites say tron tapped a high of $0.06 per token on
The White House said the administration of United States President Joseph Biden is monitoring the situation with the recent crypto market crash but deferred to independent regulators for any potential enforcement actions. In a Nov. 10 press briefing, White House Press Secretary Karine Jean-Pierre said Biden was aware of the ongoing situation with the crypto market,
In light of the FTX liquidity crisis and the near-acquisition by Binance, Binance CEO Changpeng “CZ” Zhao assured his community that his network would provide full transparency on asset holdings. On Nov. 10, Binance published a new page titled “Proof of Assets” on which all details are available of its on-chain activity for its hot and
In April 2022, the Tron network launched USDD, a token pegged to the United States dollar as an “over-collateralized stablecoin,” meaning its likelihood of slipping below $1 should be lower due to excessive reserves backing its valuation. USDD stablecoin slips below $1 peg But it was not enough to keep USDD’s price anchored to $1 on
Satoshi Nakamoto developed the first decentralized cryptocurrency called Bitcoin (BTC) and referred to it as “a peer-to-peer electronic cash system.” As per Bitcoin’s white paper, online payments could be made directly from one party to another without going through a banking institution with a peer-to-peer version of electronic cash. That said, other than using Bitcoin
Bitcoin (BTC) and crypto markets saw fresh volatility on Nov. 10 after stablecoin Tether (USDT) unpegged from the United States dollar. Tether executive: “No issues” with USDT Data from Cointelegraph Markets Pro and TradingView showed USDT hitting lows of $0.971 on Bitstamp on the day amid fears that the largest stablecoin by market capitalization may
Ethereum whales are going straight to market to load up their bags as ETH falls to ‘discount prices’. Just like the rest of the crypto market, Ethereum has taken a beating down, falling more than 20% in the last three days. While panic continues to spread across the market, whales have loaded up their holdings
Bitcoin (BTC) surged $1,000 in five minutes before the Nov. 10 Wall Street open as United States inflation and jobs data boosted risk assets. CPI comes in lowest since the start of 2022 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to daily highs of $17,782 on Bitstamp. The pair was just hours
Coinbase CEO Brian Armstrong was not delighted with the news about the United States regulators looking into FTX.US along with Coinbase and Binance.US in the wake of the FTX crisis. Armstrong said that the enforcement action against U.S.-based companies for the irregularities committed by an offshore crypto exchange that fall out of the jurisdictions of
Venture capital firm Sequoia Capital tweeted out a letter sent to its partners on Nov. 10 revealing the firm had marked its $213.5 million investments in FTX and FTX US down to $0, claiming them as a complete loss. The letter said that the crisis facing FTX has “created a solvency risk” but claimed its
Queen Maxima of the Netherlands has outlined multiple benefits central bank digital currencies (CBDCs) could bring, particularly in the area of financial inclusion. “Governments could use a digital euro to channel financial support to low-income households. This would deepen longer-term inclusion, and act as a gateway to other financial services,” she said. Queen Maxima Envisions