The amount of Bitcoin held on FTX has gone negative following 20,175 BTC leaving the exchange over the past 24 hours. Of all exchanges tracked by Coinglass, FTX has the lowest balance at -197.95 BTC. The next lowest is Poloniex at 127.14 BTC, while exchanges such as Coinbase Pro and Binance hold 573,452 BTC and…
Retail investors owning less than 1 BTC are accumulating Bitcoin while whales holding over 10,000 BTC are selling, according to data analyzed by CryptoSlate. Since August, Bitcoin has been in a distribution phase, as shown by the lighter colors on the graph below. The darker colors denote accumulation periods, as seen throughout May, June, and…
FTX CEO Sam ‘SBF’ Bankman-Fried has taken to Twitter to call out a “competitor” for “trying to go after us” and reassured the industry that despite the attempt, “FTX is fine. Assets are fine.” 2) FTX has enough to cover all client holdings. We don’t invest client assets (even in treasuries). We have been processing…
FTX’s native token FTT has experienced a volatile weekend as Binance began liquidating its tokens due to “recent revelations that have came [sic] to light,” according to Binance CEO CZ. The FTT token is down 9.4% on the day as of press time. The local bottom for Nov. 6, however, was as low as $12.42,…
The unsustainable financial system in Lebanon has brought some Lebanese to crypto. Locals are mining Bitcoin or storing wealth with cryptocurrency and completing some payments with Tether. Dire Economic Situation in Lebanon In 2019, Lebanon fell into a financial crisis after years of expensive wars and poor spending decisions. A CNBC ground report outlined the…
Talking at Solana Breakpoint, Austin Federa, Head of Communications at Solana Foundation, opened a talk on the past and future of the Solana ecosystem before bringing on Solana CEO, Anatoly Yakovenko. Federa spoke more broadly about the web3 industry comparing crypto’s adoption to that of the internet in 1995. The evolution of web3 Federa highlighted…
Despite the prevailing differences between the 2000 dot-com bubble and the post-COVID-19 bubble, they still share numerous similarities. The 2000 tech bubble began in the late 1990s and continued until 2002, while the post-COVID-19 bubble started in 2019 and lasted until 2022. Let’s have a look at both eras: Dot-com Bubble: The dot-com bubble, also…
Currently, inflation is a global intruder that threatens to disrupt the growth and calm waters of established economies like those in Europe and the United States. Increasing energy, fuel oil, and gasoline prices are primarily responsible for the current alarming rate of inflation. Rise of oil and coal prices through the decade Source: Currently, the…
The prices of NASDAQ and Gold have plummeted after the Fed’s latest 0.75% interest rate hike. According to market data, NASDAQ fell 4.97%, while Gold is down 0.68%, as both hit their year-to-date lows in the last 40 hours. Price action comparison Meanwhile, BTC is up 0.55% during the same period. According to this, BTC…
Payments processor Stripe laid off 14% of its workforce — over 1,100 employees, CEO Patrick Collison announced in an email on Nov. 3. Collison attributed the layoffs to two “mistakes” by the leadership team — overestimating 2022 growth prospects and increasing operating costs. He wrote: “We were much too optimistic about the internet economy’s near-term…