Binance CEO Changpeng Zhao(CZ) shared his views regarding the recent FTX debacle with the Binance community, stating FTX going down is not good for the industry as it will welcome tougher regulations around the globe. “Do not view it as a “win for us. User confidence is severely shaken. Regulators will scrutinize exchanges even more….
Alameda Research, the trading firm founded by FTX CEO Sam Bankman-Fried, has put its website into ‘private mode.’ The Squarespace-hosted website was updated on Nov. 9 to only be viewable to internal team members without any public announcement. Alameda Research FTX investment companies’ websites down SBF owned roughly 90% of the company as of 2021,…
Technical Analyst @DU09BTC warned that 18 million Solana tokens are due to hit the market following the end of their staking lock-in period at the current epoch. He fears that holders will exit positions causing a “second wave of selling.” 18 mil #SOL about to hit the market within 24h. 👇 Those with a lot…
The “crypto feud” between Changpeng ‘ Zhao (CZ) and Sam Bankman-Fried (SBF) took a turn for the worse on Nov. 8 — culminating in the biggest bull trap in recent memory. Since Nov, 6, when CZ tweeted Binance’s intentions to offload its holdings of FTT tokens, $152.6 billion has left the crypto market resulting in…
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 FTX,…
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 of…
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 mined…
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. Crypto…
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 Data…
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 to…