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…
The crypto community fears FTX might cause another Terra-like crash after the stablecoin reserves on the exchange fell significantly over the last 24 hours. FTX stablecoin outflow leads other exchanges As reported by The Data Nerd, Nansen data shows that FTX stablecoin outflow was the highest among exchanges over the last seven days. According to…
Huobi has alleged that the GALA incident was not a white hat operation as pNetwork claimed, but an attack that gave the protocol a $4.5 million profit. According to the exchange, there were other “premeditated operations” during the incident, which resulted in over $10 million in profit for the parties involved. Huobi continued that the…
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,…
In anticipation of the U.S. midterm elections, the cryptocurrency industry has continued its political spending to shield itself from regulatory crackdowns with a more receptive Congress. Many digital-asset companies and executives now support political action committees, including GMI PAC, whose top contributors include FTX Trading Ltd. Chief. According to campaign contributions, FTX Trading Ltd. has…
Coinbase reported its third-quarter earnings after the bell on Nov. 3, revealing a decline of 55% in revenue year-over year as Q3 revenue came in at $590.3 million, down from $1.31 billion in Q3 2021. The company’s also recorded a net loss of $540.6 million, or $2.43 per share, versus net income of $402.3 million,…
Arkham’s intelligence dashboard revealed that FTX’s sister company Alameda Research sold $284 million worth of stablecoins to crypto exchanges between Oct. 31 and Nov. 2, according to data analyzed by CryptoSlate. The market maker sold $168 million worth of USDT to FTX. It sold $66 million USDP to Binance and $50 million USDC to Circle….
Crypto companies Galaxy Digital, BitMex, and Digital Currency Group (DCG) announced staff cuts to deal with the adverse state of the market, according to crypto reporter Wu Blockchain. Layoffs Galaxy Digital plans to lay off roughly 20% of its staff, equating to 75 employees out of its 375 staff, according to a Bloomberg News report. Meanwhile,…
Crypto derivatives platform Deribit was hacked for $28 million late evening (UTC) on Nov. 1. The incident was confirmed via its official Twitter account several hours later, at 07:00 (UTC) the following day. Deribit said hackers had compromised several of its hot wallets. The firm sought to reassure users, saying client funds remain safe and…
The top 50 Dogecoin (DOGE) investors collectively hold 87.1 billion tokens worth roughly $12.35 billion at current prices, according to blockchain analytics platform Lookonchain. These investors hold around 63.71% of the memecoin’s total circulating supply, accounting for around 66.5% of the token’s market cap. We did an analysis of the top 50 holders of $DOGE….