Author: e_cash_top

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[ad_1] The biggest news in the cryptoverse for Nov. 8 includes Binance’s plans to acquire FTX, Coinbase and Kraken’s downtime after the market plummeted, and FTX’s insolvency being questioned with transactions halted for two hours. CryptoSlate Top Stories Binance intends to fully acquire FTX Binance CEO Changpeng Zhao tweeted that FTX approached the exchange looking…

BNB surges 20% in 2 hours after news of Binance’s planned acquisition of FTX

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[ad_1] BNB, issued by the largest exchange by volume, Binance, surged by more than 20% in two hours after Binance CEO. Changpeng Zhao (CZ) announced plans to acquire FTX. Later, however, the BNB price dropped by more than 20% to its current price of $315.9. This afternoon, FTX asked for our help. There is…

Binance to start proof-of-reserves; CZ proposes all crypto exchanges follow suit

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in Guides

[ad_1] Binance CEO Changpeng Zhao, or CZ, recently announced that Binance will start proof-of-reserves to support “full transparency.” CZ also suggested that all cryptocurrency exchanges do merkle-tree proof-of-reserves. According to the CEO, fractional reserves are suited to traditional banks and not crypto companies. All crypto exchanges should do merkle-tree proof-of-reserves. Banks run on fractional reserves.…

BUSD supply dominance grows as USDT’s supply drops 4%

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[ad_1] Binance USD (BUSD) is the best-performing stablecoin among the top three stablecoins, as its supply dominance increased by 6% on the year-to-date metrics to 16%. The Binance-backed stablecoin has seen its supply grow from $18 billion at the start of the year to $22 billion as of press time. Its growth was largely pushed…

Coinbase, Kraken down as Bitcoin breaks below June low

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in Uncategorized

[ad_1] Kraken and Coinbase have both been experiencing connectivity issues in the past hour. Just before 19:00 UTC, Kraken announced that it was investigating reports from users who reportedly had difficulty connecting to Kraken both on desktop and mobile. The issue was still being investigated at press time. Coinbase noted a similar issue, saying some…

Over $360M Bitcoin leave FTX in 2 days, marking 10th largest withdrawal in 2022

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[ad_1] FTX recorded a withdrawal of over $360 million worth of Bitcoin(BTC) in two days, with the majority of sell pressure coming from whales. This is reportedly the tenth-biggest BTC withdrawal this year. In addition, Nansen data shows that FTX stablecoin outflows were the highest among exchanges over the past seven days, as reported by…

Bitcoin fails to hold above $20K after bullish reversal, falls 9%

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in Uncategorized

[ad_1] Bitcoin jumped to $20,700 following the announcement of Binance’s plans to acquire FTX. The leading cryptocurrency by market cap had been trading down at around $19,200 earlier in the day but surged 7.6% following the news. However, the reversal was short-lived, as BTC has fallen back to $18,800 as of press time. Bitcoin fell…

Risk Signal flashes red as Bitcoin loses $20K amid Binance-FTX feud

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in Uncategorized

[ad_1] Sell pressure leads to Bitcoin breaking its local uptrend, building since Oct. 23. Support was found at $19,300, but downside fears are stoked as the feud between Changpeng Zhao (CZ) and Sam Bankman-Fried (SBF) continues. Source: BTCUSDT on TradingView.com On Nov. 6, CZ tweeted about recent revelations coming to light, leading to the decision…

Binance to fully acquire FTX

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[ad_1] Sam Bankman-Fried, the founder and CEO of FTX and Alameda Research, confirmed the acquisition, saying that Binance has become the first and last investor in FTX. FTX has come to an “agreement on a strategic transaction” with Binance, SBF said but provided no time frame as to when the acquisition will be completed. SBF…

Two hours without withdrawals puts FTX’s liquidity in question

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