Category: Latest news

[ad_1] The third-largest pension fund in Canada could suffer major losses as part of the FTX fallout. The Ontario Teachers’ Pension Plan was among a handful of investors that participated in a $400 million Series C funding round FTX held in January. SoftBank, Lightspeed Venture Partners, Steadview Capital, and Paradigm were among other institutional investors…

[ad_1] The Bloomberg Terminal has updated its estimate of FTX CEO Sam Bankman-Fried’s net worth on Nov. 8 to $991 million, down from $16 billion the day before. Source: Bloomberg The reduced estimate that takes away SBF’s billionaire status comes as the native token of the FTX exchange, FTT, fell over 83% to a low…

[ad_1] Active addresses transacting with FTX’s FTT token have been close to zero throughout 2022, according to Glassnode data analyzed by CryptoSlate. Before Binance announced a potential FTX acquisition, it appears the token has been relatively inactive on-chain. Source: Glassnode Given that most activity on exchanges happens off-chain and FTT is the native token of…

[ad_1] Coinbase CEO Brian Armstrong took to Twitter on Nov. 8 with a thread that started by sharing his “sympathy for everyone involved in the current situation with FTX.” Armstrong empathized that it can be “stressful” when customer assets are at risk. However, the Coinbase CEO ensured the community understood the differences between Coinbase and…

[ad_1] Marathon Digital CEO Fred Thiel said on a Nov. 8 earnings call that the company is going through a “transition period” as it looks to grow from 7EH/s to 23EH/s by mid-2023. Marathon increases hashrate Further, the company has increased its number of Bitcoin miners to 6,000, resulting in a rise from 72 BTC…

[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…

[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…

[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…

[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…

[ad_1] On-chain data has shown that FTX has stopped processing withdrawals for around two hours. According to data analyzed by CryptoSlate, the last outgoing transaction from FTX on Ethereum was recorded at around 6:18 a.m. EST. Etherscan showed no outgoing transaction from FTX’s address since then, further fueling rumors about the exchange’s liquidity position. Table…