Crypto news

FTX’s bankruptcy attorney and new CEO, John Ray, spoke to the House Financial Services Committee on Friday to break down some of the internal details of the exchange’s fallout.  Ray said that FTX customers’ assets were used by Alameda Research for margin trading, confirming a long-held suspicion about the two companies that former boss Sam Bankman-Fried (SBF) has been hesitant to admit.  Confirming the Fraud During his preliminary remarks, Ray said that while his...

Tether is back again with criticism of the mainstream media, which has once again called out the stablecoin provider for having potentially unreliable reserves. In response to the “recent cycle of Tether FUD,” the company has promised to reduce the secured loans in its reserves to zero by the end of 2023.  What’s the FUD About? Earlier this month, the Wall Street Journal called out Tether for its “secured loans” – whereby Tether lends out its own stablecoin tokens rather than...

Popular Youtuber Nicholas Merten (DataDash) argued that investors have not rushed to “buy the dip” on worries of the inflation numbers, which clocked in lower than the expectations earlier today. Based on his research, the number of people buying and selling BTC has been dropping each week recently, which indicates that its price will likely continue to fall.  More Pain Coming In his most recent video, Merten claimed that the traditional bear market for bitcoin is yet to...

Crypto and Bitcoin markets are heading for a lull period if the on-chain activity is anything to go by. In its last weekly on-chain report for the year, analytics provider Glassnode reported that Bitcoin annualized realized volatility has been the lowest since October 2020. The metric matches similar low volatility levels at the previous cycle bottom in late 2018. Futures volumes are also severely depressed at multi-year lows, it stated, adding: “This shows the massive impact...

Satoshi Nakamoto was last active on the popular and veteran bitcointalk forum on this date 13 years ago. Nakamoto did not want to be a “mysterious shadowy figure.” Instead, the creator of the world’s largest crypto-asset wanted to focus on the open-source project and give more credit to the dev contributors. Source: Bitcointalk“More Work To Do” Over a decade later, the identity of Satoshi Nakamoto continues to be an unsolved mystery. The Bitcoin creator contributed...

Santander – a UK-based financial institution – has announced it’s not going to allow any crypto exchange payments beginning in 2023. Thus, anyone who has a crypto wallet tied to their traditional bank account that tries to wire money to an attached crypto exchange to purchase assets will instantly be blocked. Santander Clearly Doesn’t Like Crypto The organization is taking a lot of flak for the maneuver, with many traders and investors claiming that the bank should not...

Changpeng Zhao – CEO of Binance – said clients had withdrawn approximately $1.14 billion worth of crypto today (December 13) from the platform. The executive assured they handled the demand and that business continues to operate “as usual.” Zhao stated on Twitter that the recent withdrawal requests are not a black swan event, reminding that Binance has processed such an amount of transactions before, as also seen on the following chart by Nansen. Source: NansenThe CEO...

[PR – Panama City, Panama City, 12th December, 2022, Chainwire] Poloniex, a global crypto exchange, is thrilled to announce the launch of its cross margin mode for spot trading to further enhance users’ trading experience in an ever changing market. With up to 3x leverage, Poloniex’s cross-margin mode enhances users’ capital and financing flexibility. It features a unified spot and cross-margin account so that users don’t need to transfer assets to a different margin account....

[PR- London, United Kingdom, 12th December, 2022, Chainwire] The Monster Zone will be the first available area on Virtua Island and the land sale begins today Games metaverse Virtua has announced the launch of the Monster Zone. The first area to be released on Virtua Island, a key region of its home planet in the metaverse – Virtua Prime. The launch of Virtua Island follows the successful launch of Cardano Island in the Virtua metaverse and both will form parts of a...

Dubai – which has grown exponentially over the years as a leading digital currency hub – is expanding its reputation thanks in part to the Dubai Financial Services Authority (DFSA), the regulatory entity of the region. The organization is now unveiling a new digital currency regime designed to boost crypto-based innovation and regulatory strategies. Dubai Is Growing Its Crypto Friendly Sector The goal is to make the crypto arena in Dubai as transparent as possible...