Crypto news

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EOS price started a fresh decline below the $1.00 support against the US Dollar. The price is now trading below $1.00 and the 55 simple moving average (4-hours). There was a break below a key bullish trend lien with support at $1.15 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to move down if it stays below the $0.90 and $0.92 resistance levels. EOS price is struggling below $1.00 against the US Dollar, similar to bitcoin....

Litecoin started a major decline from the $75 resistance zone against the US Dollar. LTC price is now trading below $60 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support at $57.50 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could start a recovery wave if it stays above the $48 support zone. Litecoin price is struggling below $60 against the US Dollar, similar to bitcoin. LTC price...

INTERNET CITY, DUBAI, Nov. 10, 2022 – LBank Exchange, a global digital asset trading platform, has listed TourismX Token (TRMX) on November 10, 2022. For all users of LBank Exchange, the TRMX/USDT trading pair is now officially available for trading. TourismX is a new revolutionary financial tool to create a DeFi investment fund to empower global tourism industry with its world’s tourism token. Its native token TourismX Token (TRMX) has been listed on LBank Exchange at...

In its recently released third-quarter earnings report, crypto financial services firm Galaxy Digital revealed that it holds over $76 million worth of exposure to FTX, the mainstream crypto exchange that is now experiencing a liquidity crisis.  Per the report, the $76.8 million of exposure is comprised of both cash and digital assets. Within that, $47.5 million is still in the withdrawal process. FTX appears to have stopped processing withdrawals on Tuesday after the company...

One of the leading crypto miners – Marathon Digital Holdings – recorded a net loss of $75.4 million, or $0.65 per share, during the third quarter of the year due to decreased production and the declining price of bitcoin. Still, the company rounded up its total stash to 11,285 BTC. Data shows that only the Michael Saylor-founded organization MicroStrategy has more bitcoin possessions. Q3 Was a Transition Period Fred Thiel – Marathon’s Chairman and CEO – said 2022’s Q2 was a...

As a ‘last resort’ option, Meta CEO Mark Zuckerberg has announced that his company will be slashing 11,000 employees from its workforce. That’s 13% of the company. In a blog post shared with employees on Wednesday, Zuckerberg said Meta was taking steps to become “leaner” and more efficient, but regrets that he now must lay off employees.  Zuckerberg explained that the company had been shifting resources into “high priority growth areas,” including the metaverse, while cutting...

Binance’s CEO said the world’s largest cryptocurrency exchange increased its Secure Asset Fund for Users (SAFU) to $1 billion again. This comes as a result of the recent market plunge, and its purpose is to grant customers maximum protection in case of another possible negative event. Changpeng Zhao (CZ) tweeted that his trading venue topped up its SAFU insurance fund to $1 billion. BUSD and BNB holdings account for $700 million of the total sum, while BTC’s address makes up...

Binance, the world’s largest crypto exchange, has backed out of its agreement to purchase FTX just one day after signing an agreement to rescue the company on Tuesday. Binance said its decision was made in light of a review of FTX’s handling of customer deposits, alongside alleged US agency investigations against the firm.  The announcement, made on Wednesday, claimed that FTX’s financial position was beyond help – even from Binance.  “In the beginning, our hope was to be...

A few months earlier, FTX CEO SBF said several “third-tier” crypto exchanges were insolvent but yet to be exposed. This was when several crypto lending platforms suffered massive financial contagion following Three Arrows Capital’s (3AC) fallout as a result of Terra’s spectacular collapse. His comments, obviously, did not age well now that his empire appears to be crumbling. Crypto Projects Fail, FTX Not an Exception Sam Bankman-Fried’s story of building his crypto empire...