Crypto Biz: Crypto’s day of reckoning has arrived
After lecturing us about crypto regulation, Sam Bankman-Fried’s house of cards collapsed this week as FTX declared bankruptcy. Go to Source Powered by WPeMatico
Binance
Auto Added by WPeMatico
Chainlink Labs offers Proof of Reserve service for embattled exchanges
The company claimed its PoR product can restore trust in crypto exchanges through greater transparency, but not everyone is convinced. Go to Source Powered by WPeMatico
FTX crisis feeds the Twitter rumor mill with hot takes and conspiracy theories
Exciting times lead to exciting posts, many of which bring up valid questions, and maybe some less valuable answers. Go to Source Powered by WPeMatico
Binance Shares Hot and Cold Wallet Crypto Addresses and Details About the SAFU Fund
After disclosing the trading platform Binance would share proof-of-reserves, the exchange published a blog post called “Our Commitment To Transparency.” The Binance blog post shares addresses tied to the world’s largest exchange and it notes that as of Thursday, Binance holds 475,000 bitcoin, 4.8 million ether, and 17.6 billion tethers. Binance Shares Crypto Addresses and … Read more
Reports Claim Beleaguered Crypto Exchange FTX Seeks Over $9 Billion From Investors
On Nov. 10, 2022, two reports said that FTX CEO Sam Bankman-Fried (SBF) is canvassing for emergency funds up to $9.4 billion for the embattled exchange. One report says that SBF has solicited crypto companies like Tether, OKX, and Tron founder Justin Sun as well. FTX Is Reportedly Seeking Up to $9.4 Billion in Funding … Read more
‘Thank God’ El Salvador doesn’t have any Bitcoin on FTX, CZ clarifies
The Binance CEO added that the amount of misinformation going around now is “insane.” Go to Source Powered by WPeMatico
FTX CEO Updates Crypto Community, Sunsets Alameda Trading, Addresses a Specific ‘Sparring Partner’
On Nov. 10, 2022, FTX CEO Sam Bankman-Fried (SBF) addressed the crypto community in a thread posted to Twitter. SBF noted that he messed up and “should have done better” and also detailed that at some point he “might have more to say about a particular sparring partner.” SBF Says He Messed Up, Claims ‘Hands … Read more
BREAKING: FTX appears to have resumed withdrawals Blockchain data shows
Transactions appear to be leaving the FTX hot wallet at a rate in the single digits per minute. Go to Source Powered by WPeMatico
Shaky USDT Price Stirs Speculation Tied to Alameda Reserves, Tether Freezes 46 Million Tokens
Amid the market fluctuations on Thursday, data shows the stablecoin tether temporarily tapped a low of $0.961 per unit. Tether’s market fluctuations have affected the decentralized finance (defi) protocol Curve’s 3pool, as the stablecoin pool has become unbalanced Thursday morning. Furthermore, at 9:35 a.m., a report disclosed that Tether has frozen more than 46 million … Read more
From a $32 Billion Valuation to Financial Troubles: An In-Depth Look at the Rise and Fall of FTX
During the last two days, the cryptocurrency community has been dealing with the FTX fiasco after Binance revealed that it was backing out of the deal to acquire the rival exchange. Between Nov. 8-9, the crypto economy shed more than $230 billion in value as FTX’s troubles shook investors. The following is an in-depth look … Read more