Pantera Capital CEO, Dan Morehead, posted a tweet late last night addressing the fallout of the ongoing FTX situation and how it highlights the importance of what Pantera is building. FTX underscores the importance of what we are building here – a more efficient, decentralized, and open financial ecosystem. As my co-CIO @joeykrug writes: “The…
In a discussion between CoinDesk and the Galois Capital co-founder, Kevin Zho, it was explained that a total of an estimated $40 million in funds are locked up in FTX at this time. The crypto hedge fund Galois Capital had earlier this year gained some renown for predicting the Terra crash — whose stablecoin ecosystem…
For almost the entirety of 2022, U.S. inflation data has caused pain in the markets, however, a slowdown in October gave new hope for less aggressive Fed hikes. Investors grabbed the chance with both hands as U.S. equities and fixed-income had their best day since the spring of 2020 while the dollar index sank with…
Nick Percoco, the CSO of Kraken Exchange, tweeted just an hour ago in response to Mario Nawfal that the Kraken team now knows the identity of the user that hacked FTX. We know the identity of the user. — Nick Percoco (@c7five) November 12, 2022 Founder and CEO of IBCgroup.io, Mario Nawfal tweeted explaining that…
Ethereum became the most deflationary in its history, as the annual supply dipped below zero for the first time since the Merge. According to Ultrasound Money, the annual inflation rate has fallen to -0.032/year, which indicates that the network is now burning more Ethereum than its minting. The negative inflation rate has decreased Ethereum’s net…
Silvergate Capital issued a statement to inform the public of its exposure to FTX and its related entities. The provider of financial infrastructure solutions to the digital asset industry adds to the mass of companies declaring their FTX exposure in a bid to reassure interested parties. Silvergate Provides Statement on FTX Exposure https://t.co/qfxSFXnCsW — Silvergate…
SkyBridge Capital founder Anthony Scaramucci told CNBC on Friday that the company is trying to buy back the stake FTX had acquired in the alternative investment firm. “We’re in a worse position because of the fact that we made the decision to have Sam join the cap table at SkyBridge,” Scaramucci said. “There’s no question that…
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, the…
Kucoin CEO, Johnny Lyu, has explained in a number of tweets today that Kucoin has been transparent with its users since day one of building the hybrid centralized/decentralized cryptocurrency exchange. From day 1 of building KuCoin, we have been transparent to our users. The overview of some of KuCoin’s hot and cold wallet addresses are…
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 disclosure,…