Author: e_cash_top

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[ad_1] The events of the past week have led to significant sell pressure across the crypto market. Since FTX insolvency rumors broke on Nov. 6, peak outflows saw $270 billion leave the market. Despite the bearish market conditions, on-chain data analyzed by CryptoSlate showed all Bitcoin cohorts have flipped into accumulation mode, with whales buying…

SBF out as CEO as FTX files for bankruptcy; SEC Chairman’s ties with exchange under scrutiny

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[ad_1] The biggest news in the cryptoverse for Nov. 11 includes FTX filing for bankruptcy as John Ray III takes over from Sam Bankman-Fried as CEO, FTX users seeking to bypass bankruptcy process using the “Bahamas loophole”, US Congressman accused SEC Chairman of having dubious ties to FTX, and Crypto.com disclosing reserve holdings to allay…

FTX crash pushes Bitcoin to self-custody; Ethereum switched for stablecoins

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[ad_1] After the FTX collapse, investors are moving large amounts of Bitcoin (BTC) to their self-custody wallets and exiting Ethereum (ETH) to invest in stablecoins, according to data analyzed by CryptoSlate. Bitcoin retreats to self custody The chart below demonstrates the amount of liquid, illiquid, and highly liquid Bitcoins since 2008. As of November 2022,…

Crypto.com discloses partial reserves in bid to counter insolvency rumors

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[ad_1] Kris Marszalek tweeted details of Crypto.com’s reserves in a bid to address insolvency rumors. Marszalek said the company holds 53,024 Bitcoin, 391,564 Ethereum, and other crypto assets totaling approximately $3 billion. He added that this represents “only a portion of our reserves,” and a Proof of Reserves audit is currently going on with public…

Binance CEO expects more regulatory scrutiny following FTX implosion

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[ad_1] Binance CEO Changpeng Zhao said his firm backed out of the FTX deal because it did not make sense and the huge financial hole they would have had to cover. Speaking at the Indonesia Fintech Summit on Nov. 11, CZ said Binance already covers most of the markets that FTX.com operates in. Apart from that,…

Solana leads US CPI induced market recovery

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[ad_1] In the last 24 hours, the cryptocurrency market cap saw inflows of around $50 billion as the industry rose to $872.68 billion from $828.94 billion as of press time — up 5.26%. Bitcoin and Ethereum’s market cap increased by 5.26% and 7.19% to $332.72 billion and $155.89 billion, respectively. The crypto market experienced a…

Pantera Capital swiftly implements precautionary measures following FTX, Alameda fallout

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[ad_1] Director of Portfolio Development at Pantera Capital, Franklin Bi, has created a Twitter thread discussing portfolio preventative measures taken following the recent FTX and Alameda Research fallout. 1/ The past few days have tested our industry, with fallout for months to come. Here’s an excerpt from a note to @PanteraCapital founders / investors re:…

BlockFi halts withdrawals amid FTX crisis, Genesis Trading, Crypto.com emphasize transparency

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[ad_1] BlockFi limits its platform activity and pauses client withdrawals amid the FTX crisis. In a Twitter post, BlockFi clarified that this is due to the lack of clarity on the FTX issue. The announcement comes two days after BlockFi COO, Flori Marquez, took to Twitter to share her views regarding the FTX debacle. Marquez…

Desperate FTX users employ shady tactics to bypass bankruptcy process

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[ad_1] Social media is flooded with posts from desperate FTX users asking for help to withdraw locked funds. According to Zane Tackett, the former Head of Institutional Sales at FTX, Bahamians are authorized to take funds off the platform despite a freeze on withdrawals at the troubled exchange. 1) Per our Bahamian HQ’s regulation and…

US Congressman says SEC’s Gensler allegedly had dubious ties to FTX, promises investigation

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