Bitcoin, Ethereum Technical Analysis: BTC Climbs to $17,000 as Weaker USD Overshadows SBF’s Cryptic Tweets
Bitcoin was trading marginally higher on Nov. 15, as the U.S. dollar continued to weaken, dropping to multi-month lows versus several G7 currencies. The decline of the dollar overshadowed tweets from FTX’s Sam Bankman-Fried, who cryptically…
Renault Launches Its Industrial Metaverse, Aims to Save $330 Million by 2025
Renault, one of the biggest automakers in the world, has announced it has built the first industrial metaverse, with all its production lines supplying data to this world. According to the company, this digital twin replica will allow it to save…
Bitget Raises Its Protection Fund to $300M to Reassure Users After FTX’s Collapse
PRESS RELEASE. Nov 15th, 2022 – Leading global cryptocurrency exchange, Bitget announces that it will increase its Protection Fund to 300 Million USD, in order to provide better protection and further assurance to crypto users. This is part…
Metaverse of Entertainment Expected to Grow to Almost $29 Billion Driven by Consumer Spending by 2026, Study Says
A study from Technavio, a market research firm, has predicted that the area of the metaverse dedicated to entertainment, including virtual concerts, video games, and movies, will grow to $28.92 billion in value from 2021 to 2026. The report states…
Onchain Data Reveals Alameda Acquired Specific Tokens a Month Before FTX Listings
According to a report stemming from the blockchain analytics firm Argus, Sam Bankman-Fried’s trading firm Alameda Research obtained tokens ahead of FTX.com listings. The report claims that Alameda acquired roughly $60 million worth of tokens…
Huobi Becomes Latest Crypto Exchange to Disclose Proof-of-Reserves
Huobi, the Seychelles-based crypto exchange, recently became the latest digital asset exchange platform to reveal the number as well as the value of its digital assets held in reserves. Huobi has said disclosing the assets held in reserves helps to…
Visa Terminates Agreements With Bankrupt Crypto Exchange FTX
Visa has reportedly terminated its global agreements with collapsed cryptocurrency exchange FTX and its U.S. arm, FTX US. The payments giant added that FTX’s “U.S. debit card program is being wound down by their issuer.” Visa Ends…
Elon Musk: Bitcoin Will Make It — Dogecoin to the Moon
Tesla CEO and Twitter chief Elon Musk has made bullish statements about bitcoin and dogecoin despite crypto market sell-offs. He said bitcoin “will make it” and “DOGE to the moon.” Amid crypto winter and the chaos…
Kevin O’Leary: FTX Collapse Is a Turning Point for the Industry — ‘Crypto Bottom Is In’
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has investments in FTX. Following the collapse of the crypto exchange, he said it’s a turning point for the industry, emphasizing that the “crypto bottom is in.” He is now…
Ikigai Exec Says ‘Large Majority’ of Crypto Asset Management Firm’s Funds Stuck on FTX
After Kevin Zhou, the co-founder of the hedge fund Galois Capital, revealed half of the firm’s assets were held on FTX, another crypto asset management firm called Ikigai detailed that “a large majority of the hedge fund’s total assets” were store
US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Gold Coins
According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after “direction…
Bitget Prepares 5 Million USD Builders Fund to Help Users Distressed by FTX Collapse
PRESS RELEASE. Nov 14th, 2022 – Leading global cryptocurrency exchange Bitget announces that it has set aside a 5 Million USD worth of Builders’ Fund, aiming to help those affiliates, influencers and professional traders who are distressed by…
Effective Altruism: Former FTX CEO’s Alleged $40M Penthouse Listed for Sale, Report Says Firm Spent $74M on Real Estate
In light of a recently published real estate listing, former FTX CEO Sam Bankman-Fried (SBF) is reportedly selling a 12,000-square-foot penthouse in the Bahamas for $39.9 million. Moreover, reports further detail that FTX Property Holdings spent…
Biggest Movers: CRO Rebounds as CEO Kris Marszalek Admits ‘Trust Was Damaged’
On Nov. 14, cronos rebounded, as Crypto.com CEO Kris Marszalek held an “Ask me Anything” (AMA) session, while speculation grew on the company’s level of solvency. The concerns came after it was revealed that a transfer of $400 million…
Crypto Trading Platforms Deal With Massive Withdrawal Requests — Over $5 Billion in BTC, ETH Removed From Exchanges
During the last week, the crypto community has been dealing with the demise of FTX and its affiliated crypto businesses, and ever since then, the proof-of-reserves topic has found its way to the forefront of conversations. Another silver lining to…
Binance Forming Crypto Industry Recovery Fund to ‘Reduce Further Cascading Negative Effects of FTX’
Cryptocurrency exchange Binance is forming an industry recovery fund to “reduce further cascading negative effects of FTX,” said CEO Changpeng Zhao (CZ). “As an industry, we need to increase transparency,” the executive…
Bitcoin, Ethereum Technical Analysis: BTC Rebounds Following Bullish Comments From Elon Musk
Bitcoin started the week trading below $17,000, as volatility in the cryptocurrency space continued to intensify. Following last week’s collapse of FTX, account withdrawals have increased, with several customers opting to remove their tokens…
St. Kitts and Nevis to Explore Possibility of Making Bitcoin Cash Legal Tender by March 2023
St. Kitts and Nevis will explore the possibility of making bitcoin cash legal tender by March 2023. The statement was made by St. Kitts and Nevis Prime Minister Terrance Drew as part of the Bitcoin Cash 2022 Conference held in the country…
PEGA Pool to Launch in 2023 to Help You Offset Your Carbon Footprint While Crypto Mining
PEGA Pool is an eco-friendly crypto mining pool currently in private beta testing and is expected to be open to the public in the first quarter of 2023. Regarding bitcoin mining, there have always been concerns about its environmental impact…
Fiat-to-Crypto Company Ramp Raises $70 Million to Solve the Crypto Onboarding Problem
Ramp, a fiat-to-crypto company, has announced it has raised $70 million as part of its Series B funding round. The round was co-led by Mubadala Capital and Korelya Capital, with Balderton Capital and Cogito Capital participation. The company…
Ukraine’s Cyberpolice Expose Members of Crypto Fraud Scheme Making €200 Million a Year
A report shows Ukrainian Cyberpolice identified members of a group that defrauded people around the world through fake crypto investment offers. The criminal organization maintained offices and customer service centers with thousands of employees…
Manhattan District Attorney Freezes $1.3 Million in Crypto — Seeks to Return Funds to Fraud Victims
Manhattan District Attorney (DA)’s Office has frozen more than $1.3 million in cryptocurrency “during fraud investigations conducted over the past ten months.” The authority said: “We are returning that money to the victims…
Binance CEO Likens FTX Fiasco to 2008 Financial Crisis — Warns of ‘Cascading Effects’
Binance CEO Changpeng Zhao has compared the FTX collapse to the 2008 financial crisis. Warning of “cascading effects,” he stressed: “A lot of consumer confidence is shaken, and I think basically it sets us back a few years.”…
Conflicting Reports Emerge About SEC Helping Bankrupt Crypto Exchange FTX With Legal Loopholes
The U.S. Securities and Exchange Commission (SEC) reportedly met with crypto exchange FTX and former CEO Sam Bankman-Fried several times before the crypto firm filed for bankruptcy. SEC Chairman Gary Gensler was rumored to be helping FTX with legal…
Ark Invest CEO Warns Fed’s Actions Could Lead to 1929-Like Great Depression — Elon Musk Agrees
The CEO of investment management firm Ark Invest has warned that if the Federal Reserve does not pivot, the current economic setup will be similar to 1929 when the Great Depression started. Tesla CEO and Twitter chief Elon Musk agreed. The Fed…
Kraken CEO Discusses Impact of FTX Failure — Says Damage to Crypto Industry Is Huge, Will Take Years to Undo
The CEO of cryptocurrency exchange Kraken has outlined the impact of FTX’s failure on the crypto industry. After listing multiple red flags, the executive stressed: “The damage here is huge … We’re going to be working to…
Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto
The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will…
Royal Bahamas Police Force Reveals FTX Is Being Investigated for ‘Criminal Misconduct’
“A team of financial investigators” are currently investigating the now-defunct crypto exchange FTX, the Royal Bahamas Police Force said in a statement shared on Sunday. The police noted that the financial investigators were searching to see…
SBF’s ‘Truly Trustless’ Protocol — Serum’s Upgrade Authority May Be Tainted, Devs Look to Fork Project
According to Solana’s founder, Anatoly Yakovenko, Serum developers are forking the platform because the “upgrade key to the current one is compromised.” Serum, created by FTX’s Sam Bankman-Fried (SBF), was touted as…
FTX Contract Deployer Unlocks 192 Million FTT, Exchange Token’s Questionable Tokenomics Highlights Red Flags
Following the collapse of FTX and the exchange filing bankruptcy on Nov. 11, the trading platform’s exchange token called ftx (FTT) has shed 91.6% in value during the last seven days. While the FTT token’s utility is based entirely on…
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