Bitcoin (BTC) starts a new week on shaky ground after its lowest weekly close in two years. The largest cryptocurrency considerably weakened after last week’s implosion of exchange FTX, continues to grapple with the fallout. In what is becoming an increasingly erratic market, investors are unsure what will happen next as more firms sound the
Month: November 2022
United States congressman Brad Sherman, a known crypto skeptic, has pointed the finger at “billionaire crypto bros” for slowing down much-needed cryptocurrency regulation. In a Nov. 13 statement addressing the collapse of crypto exchange FTX, Sherman said the exchange’s implosion has demonstrated the need for regulators to take immediate and aggressive action: “The sudden collapse
Crypto.com’s native token Cronos (CRO) is showing restraint on Nov. 14 against mounting sell-pressure building in the wake of the FTX’s dramatic collapse last week. Now, the CRO/USD pair is eyeing a watershed price recovery. On Nov. 14, CRO’s price wobbled between profits and losses, trading around $0.069 a day after crashing to $0.05, its
A report shows Ukrainian Cyberpolice identified members of a group that defrauded people around the world through fake crypto investment offers. The criminal organization maintained offices and customer service centers with thousands of employees in a number of European countries. Cyberpolice Department Busts Ukrainian Arm of International Financial Fraud Scheme The cybercrime combatting unit of
Just days after Binance CEO Changpeng “CZ” Zhao warned about the onset of greater regulatory scrutiny amid the FTX collapse, the Financial Secretary of Hong Kong called for a stronger focus on transparency and proper supervision when dealing with virtual assets. Financial Secretary Paul Chan highlighted the importance of being “steady and cautious” when promoting
Bitcoin (BTC) investors are withdrawing funds from exchanges at a rate not seen since April 2021 with nearly $3 billion in Bitcoin withdrawn over the past seven days. New data from on-chain analytics firm Glassnode shows the number of wallets receiving BTC from exchange addresses hit almost 90,000 on Nov. 9. Exchange users wake up
The CEO of investment management firm Ark Invest has warned that if the Federal Reserve does not pivot, the current economic setup will be similar to 1929 when the Great Depression started. Tesla CEO and Twitter chief Elon Musk agreed. The Fed, Inflation, and the Great Depression Ark Invest CEO Cathie Wood, who is also
How does one build a Bitcoin (BTC) community? How to start? Where to begin? And what are the best practices? Cointelegraph spoke to Bitcoin community builders around the world to shed light on a growing phenomenon in the Bitcoin world. From Indonesia to South Africa to El Salvador and the Congo, circular-based Bitcoin economies and
An investigation of possible criminal misconduct over the insolvency of cryptocurrency exchange FTX is underway by financial investigators and the Bahamas securities regulators, according to a statement by the Royal Bahamas Police Force sent to Reuters on Nov 13. The Royal Bahamas Police stated: “In light of the collapse of FTX globally and the provisional
According to Solana’s founder, Anatoly Yakovenko, Serum developers are forking the platform because the “upgrade key to the current one is compromised.” Serum, created by FTX’s Sam Bankman-Fried (SBF), was touted as “completely permissionless,” but now that the exchange has fallen, it’s suspected that Serum’s upgrade authority is tainted. A So-Called ‘Trustless’ Defi Protocol With
The fall of FTX highlighted the importance of proof of reserves in averting risks and improving investor confidence, urging leading crypto exchanges to publicly list down their cold and hot wallet addresses. When trying to confirm the availability of funds on Crypto.com, cold store information revealed a suspicious transfer of 320,000 Ether (ETH) to a
To counter the rising mistrust among crypto investors following the FTX collapse, crypto exchanges unanimously decided to share proof of reserve with the public as a way to showcase legitimacy. However, certain anomalies found during on-chain investigations suggest foul play and market manipulation. Just two days after Crypto.com made its cold storage information public, investigators
India’s Enforcement Directorate (ED) says that it has frozen 150.22 more bitcoins held at cryptocurrency exchange Binance. The freeze is part of an investigation into mobile gaming application E-nuggets, which was designed to defraud the public, the ED said. India Freezes More Bitcoins at Binance India’s Enforcement Directorate (ED) announced Friday that it has frozen
Bitcoin (BTC) is setting unenviable records this week as hodlers big and small battle some major pain. Data from on-chain analytics firm Glassnode shows over one-third of the BTC supply being held at a loss by long-term hodlers (LTHs) — a new all-time high. Long-term holders shoulder record unrealized losses Profitability has taken a serious
The Securities Commission of The Bahamas (SCB) has denied instructing or authorizing crypto exchange FTX to prioritize withdrawals of Bahamian clients. In a statement on Nov. 12, the securities commission vehemently denied the contents of a Nov. 11 statement from FTX on Twitter that suggested it had been instructed by “Bahamian HQ’s regulation and regulators” to
Tesla CEO and Twitter chief Elon Musk has informed Twitter employees that the company’s “economic picture ahead is dire.” Noting that “bankruptcy isn’t out of the question,” the billionaire stressed that “Without significant subscription revenue, there is a good chance Twitter will not survive the upcoming economic downturn.” Twitter Could Go Bankrupt, Says Elon Musk
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