Crypto news

CryptoCom is the latest exchange to provide proof of reserves amid soaring demand for industry transparency stemming from FTX’s collapse.  The audit found that its customers’ balances for multiple top cryptocurrencies, including Bitcoin and Ethereum, are over 100% backed.  As the exchange announced on Friday, its proof of reserves featured an audit from Mazars Group – an independent crypto-focused advisory firm that also carried out Binance’s proof of reserves last month. ...

Binance CEO Changpeng Zhao (CZ) and ex-FTX boss Sam Bankman-Fried (SBF) traded barbs over Twitter on Friday as each contested the true nature of their private business dealings. During the exchange, Bankman-Fried asked CZ why he would “lie” about their situation, given he had already “won,” post bankruptcy. CZ’s Story CZ began with reference to Kevin O’Leary’s latest comments on FTX’s fallout.  In his interview with CNBC, the Shark Tank star suggested that FTX spent much of...

The former CEO of FTX – Sam Bankman-Fried – said he is “willing” to testify before the relevant US authorities on December 13. He vowed to shed more light on the reasons behind his exchange’s collapse and his own failures as a leader. The US House Committee on Financial Services claimed earlier this week that the FTX crisis caused colossal investor losses and urged Bankman-Fried to testify on the matter on December 13. SBF took it to Twitter to announce he is ready to satisfy...

With certain slight exceptions, the cryptocurrency market is found more or less where it was during the same time last week. The total capitalization sits at around $890 billion, according to data from CoinGecko and Bitcoin’s dominance is at 37%. Speaking of Bitcoin, the primary cryptocurrency went back and forth (just like the rest of the market, dipping below $17K on a few occasions throughout the week. However, the bulls were successful in reclaiming this important level,...

New York really doesn’t care about cryptocurrency, and the re-election of Governor Kathy Hochul is proof of this. New York Just Doesn’t Get It During this year’s midterm elections, Hochul ran against Lee Zeldin, who arguably had one of the most competitive republican campaigns in the Empire State in years. Right now, New York is facing a bill that’s been passed by the state legislature. The bill would enforce a moratorium on the crypto mining space and prevent all new digital currency...

Ethereum’s price is currently facing crucial resistance, and the current focus is to surpass it. A successful breakout from this level could potentially result in bullish momentum in the near term. Technical Analysis By Shayan The Daily Chart Ethereum’s price has been forming a descending flag price pattern over the last few months. After recently touching the lower trendline, it has initiated a small rally with extremely low momentum. The price is now consolidating around...

Bitcoin’s price is approaching a key resistance area as the markets are patiently waiting for the CPI release next week. Both the chart and the high probability of another decline showing in the inflation readings are suggesting that a turning point for Bitcoin may be near. Technical Analysis By: Edris The Daily Chart On the daily chart, the price is still trapped in a large descending channel and has yet to break it to either side. This pattern is typically an early sign of...

Amber Group reportedly raised just half of its $100 million funding round and halted its global expansion efforts due to the ongoing bear market. The company recently laid off a portion of its staff after previously admitting it has been an “active trading participant” on the bankrupt crypto exchange FTX. Change of Plans Amber Group raised hopes at the beginning of 2022 that it will manage to boost its valuation nearly three times, reaching $10 billion. The shaken condition...

Despite the recent crash of the crypto space, despite everything bitcoin has cost him, Michael Saylor – the former head executive of MicroStrategy, a one-time software giant that has since transformed into one of the biggest bitcoin bulls out there – says bitcoin is going to be a winning asset in the end. Michael Saylor Will Never Give Up on BTC In a recent interview, he commented: Speaking for all bitcoiners, we feel we’re trapped in a dysfunctional relationship with crypto and we want...

Huobi Research, an affiliate of Huobi Global, estimated in its Global Crypto Annual 2022-2023 Report that the prices of bitcoin and ether will start surging after the first quarter of 2023. Until then, they might find a bottom at $15,000 and $1,000, respectively. The company touched upon the FTX’s meltdown, describing it as “one of the catastrophes in the financial world.” Other incidents in the world of crypto so far this year include Terra’s collapse and the bankruptcy of...