The feud between the CEOs of crypto exchanges FTX and Binance — Sam Bankman-Fried (SBF) and Changpeng “CZ” Zhao — not only crashed cryptocurrency prices but also reminded regulators to step in and avoid similar fallouts in the future. Ever since CZ publicly announced Binance’s intent to liquidate its FTX Token (FTT) holdings, investors anticipating
Month: November 2022
Bitcoin (BTC) liquidated $200 million of long positions on Nov. 8 as BTC price briefly tumbled to two-year lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price sets new two-year low Data from Cointelegraph Markets Pro and TradingView revealed carnage across crypto price charts as exchange FTX kept the mood low. After initially rebounding over
A new blockchain and cryptocurrency-focused association has been launched within Abu Dhabi’s free economic zone that aims to further the development of blockchain and crypto ecosystems across the Middle Eastern, North Africa, and Asian regions. The Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA) was officially launched on Nov. 8 in the Abu
What impact could the LBRY ruling have on the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC)? This is the question that attorney John E Deaton, who has 75,000 XRP investors behind him in his amicus brief, has tried to clarify. As revealed yesterday, the New Hampshire court found that
FTX Token (FTT) and Solana’s SOL (SOL) endured a tough weekend of trading that saw altcoins take double-digit losses in the 15%–30% range, but the tide turned as news broke that Binance could be in the process of acquiring FTX. On Nov. 8, FTX CEO Sam Bankman-Fried first took to Twitter to announce a liquidity-sharing
After topping the $21,500 mark on Nov. 4, Bitcoin (BTC) price is down by 14% on Nov. 8, reaching a new yearly low at $17,166 — and most altcoins are following suit. While the Binance and FTX news initially caused an uptick in the market, the day turned south as various unconfirmed sources speculated that
The United States Treasury Department’s Office of Foreign Asset Control, or OFAC, has amended the sanctions on cryptocurrency mixer Tornado Cash in addition to including two individuals involved in “transportation and procurement activities” for the Democratic People’s Republic of Korea in its list of Specially Designated Nationals. In a Nov. 8 announcement, the Department of
According to a report shared by an FTX staff member, prior to Binance announcing it would acquire the exchange, CEO Sam Bankman-Fried explained that in 72 hours FTX saw roughly $6 billion in withdrawals. Furthermore, the staff member’s account notes that withdrawals on the exchange FTX.com were “effectively paused.” Report Claims FTX CEO Said Exchange
Both Coinbase and Kraken’s platforms were down or experiencing intermittent latency issues on Nov.8, amid market turbulence, according to users’ complaints on Twitter. This news followed the disclosure that crypto exchange Binance intends to acquire its rival FTX earlier in the day. According to Twitter users, services were limited in both exchanges, with issues related
This year, Oct. 31 marked the 14th anniversary of the issuance of one of this century’s most consequential white papers — Satoshi Nakamoto’s “Bitcoin: A Peer-to-Peer Electronic Cash System.” Its 2008 publication set off a “revolution in finance” and “heralded a new era for money, one that did not derive its value from governmental edict
Ethereum’s Shanghai upgrade, the next major upgrade post Merge, is slated for the second half of 2023. The upgrade would be a key milestone as it would allow holders who have staked their Ether (ETH) for years to withdraw them systematically and make the network more scalable. Apart from some of the major scalability upgrades,
Crypto communities can often implode, despite the best intentions of everyone involved. Genuine communities with plausible but convoluted project ideas can fail just as easily as projects like DeFi Wonderland, which imploded because of its CFO’s connection to the controversial, defunct Canadian exchange QuadrigaCX. Plausible projects face scaling challenges like Zilliqa or project management problems
Bitcoin (BTC) and crypto markets fell heavily into Nov. 8 as contagion from the FTX debacle spilled over. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Analysts dismiss FTX insolvency fears Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to $19,351 on Bitstamp — its lowest levels since Oct. 25. The pair, along with
The recent concerns related to the volatility of FTX Token (FTT) seeped into FTX CEO Sam Bankman-Fried’s other business operation, Alameda Research, as the BitDAO community requested information about Alameda’s BitDao (BIT) holding commitment. On Nov. 2, 2021, BitDAO swapped 100 million BIT tokens with Alameda in exchange for 3,362,315 FTT tokens with a public
Countries failing to adhere to Anti-Money Laundering (AML) guidelines for cryptocurrencies could find themselves added to the Financial Action Task Force’s (FATF) “grey list.” According to a Nov. 7 report from Al Jazeera, sources say the global financial watchdog is planning to conduct annual checks to ensure countries are enforcing AML and Counter-Terrorist Financing (CTF)
Australia’s market regulator has released a list of the “top-10 ways to spot a crypto scam,” amid a detected rise in crypto-related investment scams this year. The Australian Securities and Investment Commission’s (ASIC) public advisory statement was published as part of Scams Awareness Week 2022, an initiative that teaches Australians how to identify all forms of
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