Bitcoin (BTC) and crypto markets saw fresh volatility on Nov. 10 after stablecoin Tether (USDT) unpegged from the United States dollar. USDT/USD 1-day candle chart (Binance US). Source: TradingView 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
Month: November 2022
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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
Following the FTX bank run, which accelerated by Nov. 7, Bitcoin (BTC) price started to buckle and, at the time of writing, lost 21% in five days. Among the victims of the swift market meltdown is the world’s largest institutional Bitcoin fund, the Grayscale Bitcoin Trust (GBTC). On Nov. 9, the GBTC closed at a
Blockchain software technology firm ConsenSys continues working on expanding blockchain interoperability by introducing a new tool for the MetaMask crypto wallet. MetaMask users can now bridge across multiple blockchain networks using MetaMask Bridges, which aggregates different blockchain bridges in one place, ConsenSys announced on Nov. 9. MetaMask Bridges supports major blockchains compatible with the Ethereum
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
Solana (SOL) is on the track to log its worst daily performance on record. On Nov. 9, SOL’s price dropped more than 40% to around $16 primarily due to its association with Sam Bankman-Fried, the founder of crypto-focused hedge fund Alameda Research and cryptocurrency exchange FTX. SOL/USD daily price chart. Source: TradingView Sam tokens get
Kris Marszalek, CEO of cryptocurrency exchange Crypto.com has become the latest crypto company promising to publish “audited proof of reserves,” amid the downfall of rival exchange FTX. “We share the belief that it should be necessary for crypto platforms to publicly share proof of reserves,” said Marszalek, adding that his company “will be publishing our audited
No, it’s not Groundhog Day. Subway is accepting Bitcoin (BTC), again — but this time it’s using the fast, nearly free Bitcoin Lightning Network. Kicking off the 7-day #usingbitcoin week with Lunch at Subway, Chausseestrasse in Berlin! 50% off when paying with #bitcoin#spendyourbitcoin pic.twitter.com/f81kdMOnEQ — felix (@felixbillert) October 19, 2022 The world’s largest franchise by number
The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem. According to DefiLlama, at the time of writing, Solana’s TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a
European Parliament economics committee member Stefan Berger has compared the current situation with FTX to the 2008 financial crisis, using “such Lehman Brothers moments” in justifying the need for regulating crypto. In a Nov. 9 tweet, Berger said proper regulation was needed to avoid issues which “cost enormous trust” in the crypto space, amid FTX
Singapore’s state-owned investment firm Temasek, a shareholder at FTX, is reportedly engaging with the cryptocurrency exchange in the liquidity crisis that led to its unexpected (and still pending) bail out on Nov 8. In comments to Reuters, the sovereign wealth fund said it was “aware of the developments between FTX and Binance, and are engaging
Investor sentiment in the crypto market is floundering after Binance decided to nix its agreement with FTX to purchase the distressed cryptocurrency exchange. The events have sent Bitcoin to a new yearly low, while other altcoins have also taken a sharp downturn. Data from Cointelegraph shows Bitcoin (BTC) declining to $15,698 amid the chaos caused
Whistleblower and former NSA contractor, Edward Snowden, has been very vocal about the crypto economy in recent times. After publishing a copy of Bitcoin’s white paper on Twitter on the document’s 14th birthday, Snowden had some words with Craig Wright, the man who claims to be Satoshi Nakamoto. Following the news tied to the troubled
Crypto markets crumbled for a second day as the fallout from FTX’s liquidity troubles continued to negatively impact investor sentiment. Bitcoin (BTC) price fell to a new yearly low at $16,800 as anonymous unconfirmed sources suggested that after a closer review of FTX’s books, Binance could back out of its agreement to acquire the beleaguered
Bitcoin (BTC) fell below $17,000 on Nov. 9 as rumors spread over crypto exchange Binance exiting a deal to buy embattled competitor FTX. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance CEO: “Do not trade FTT” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $16,936 on Bitstamp before rebounding. The latest dive hit an
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