The collapse of Sam Bankman-Fried’s crypto empire is likely to have repercussions beyond the crypto markets, according to Mike McGlone, senior commodity strategist at Bloomberg. The repercussions of the cataclysmic FTX downfall are going to be broader than the crypto markets, as they will accelerate downward moves in stocks and commodity markets, according to Mike…
Read more
FTX CEO Sam Bankman-Fried has sent apologies in his first series of tweets since the collapse of FTX. “I f****d up, and should have done better,” the CEO said. In his first series of tweets since Binance announced and then reversed an offer to buy troubled crypto exchange FTX, SBF apologized to everyone involved in the platform,…
Read more
Exciting times lead to exciting posts, many of which bring up valid questions, and maybe some less valuable answers. Events are unfolding fast as the cryptocurrency market is rocked again, this time by FTX. Facts and non-facts are hard to sort out under these conditions, especially since both seem to be depegged from believability at…
Read more
Earlier this week, speculation around the liquidity crunch at FTX sent shockwaves across the entire crypto industry. The news that Binance could potentially purchase FTX created a bounce, but when the exchange backed out of the deal yesterday, cryptocurrency prices went into a free fall. … Read More: Crypto Price Crash Update: Why Did FTX Fall? – Here’s…
Read more
Wallets associated with Sam Bankman-Fried’s Alameda Research could be behind the dollar de-peg, alleges Tron’s founder. In April 2022, the Tron network launched USDD, a token pegged to the U.S. dollar, as an “over-collateralized stablecoin,” meaning its likelihood of slipping below $1 should be lower due to excessive reserves backing its valuation. USDD stablecoin slips below…
Read more
The U.S. regulators are currently investigating FTX.US, Coinbase and Binance in the wake of the collapse of the FTX global crypto exchange. 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…
Read more
On Nov. 9, the GBTC closed at a record discount of 41% with a one-share price standing at $8.76. 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…
Read more
FTX Token plunged by over 70% in today’s session, as sentiment surrounding Binance’s potential buyout of FTX continued to raise market eyebrows. Following speculation that FTX could be insolvent, Binance’s Changpeng “CZ” Zhao moved to acquire the firm, pending due diligence. Solana is also significantly lower, due to FTX’s sister company Alameda currently holding large…
Read more
FTX Token price prediction is bearish as FTT has plunged over 80% from $22 to $4. On Tuesday, Sam Bankman-Fried shocked the cryptocurrency community by announcing that Binance would acquire his exchange, FTX. However, the purchase was revealed by FTX CEO Bankman-Fried in a tweet on Tuesday, and only hours before that, the drama was brewing…
Read more
Market manipulation, lending activity and safeguarding of customer funds and assets are some of the many issues Senator Lummis plans to address in the coming days. The feud between the CEOs of crypto exchanges FTX and Binance — Sam Bankman-Fried (SBF) and Changpeng “CZ” Zhao — not only crashed cryptocurrency prices but also reminded regulators…
Read more
