Markets

When the financial woes of FTX also lead to the exchange’s bankruptcy, the deal could not proceed, pitching Binance.US as the next major favorite to bail out the company. Judge Michael Wiles, the presiding Judge over the Binance.US and Voyager Digital acquisition case with the United States Securities and Exchange Commission (SEC) has reaffirmed his order for the deal to proceed. The Judge canceled the petition from the SEC to halt the proposed sale of the bankrupt crypto brokerage...

Cathie Wood praised crypto assets for proving to be safe havens as crisis unfolded in the US banking system last week. Ark Investment‘s Cathie Wood is known for making some of the bold bets in crypto. Even during the strong downfall of 2022, Cathie Wood has been a regular investor in crypto companies like Coinbase. In another such development, ARK Investment Management LLC managed to raise a staggering $16 million from investors for a new crypto-focused investments fund. On Wednesday,...

As of the end of Q3, Virgin Orbit has $71.2 million in cash and $30.9 million in revenue. Shares of aircraft engineering company Virgin Orbit Holdings Inc (NASDAQ: VORB) dropped by 33% in extended trading as the company is discharging nearly all its workers. According to people familiar with the matter that spoke to CNBC, the company is additionally suspending operations for a week as it seeks a funding lifeline. Currently, at premarket trading, Virgin Orbit has declined further, with its...

EOS price started a fresh decline from the $1.15 resistance zone against the US Dollar. The price is now trading below $1.15 and the 55 simple moving average (4-hours). There was a break below a key rising channel with support near $1.10 the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to decline if it stays below the $1.12 and $1.15 resistance levels. EOS price is struggling below $1.15 against the US Dollar, similar to bitcoin....

Litecoin started a fresh decline below the $80 zone against the US Dollar. LTC price is now trading below $80 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $88 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could struggle to clear the $85 and $88 resistance levels in the near term. Litecoin price is struggling below $85 against the US Dollar, similar to bitcoin. LTC price could...

America’s largest cryptocurrency exchange is expecting a flood of staking withdrawal requests after Ethereum developers enable the functionality next month.  While providing details about how the upgrade will impact the business on Wednesday, Coinbase said it could take “weeks to months” for unstaking requests to be fully processed. Shapella is Coming In a blog post on the matter, Coinbase explained that the upcoming Shanghai and Capella upgrades (collectively known as...

The United States Department of Justice (DOJ) has filed a memorandum of support to have the $1 billion asset-sale deal between bankrupt crypto broker Voyager Digital and Binance.US put on hold until an appeal motion is handled. U.S. attorney for the Southern District of New York Damian Williams and U.S. trustee William K. Harrington, alongside other officials, filed the joint motion on Tuesday in the U.S. Bankruptcy Court for the Southern District of New York. DOJ Requests...

Although Bitcoin has experienced a significant surge in the last few days, Ripple’s price action has been more stagnant, with no specific direction and limited volatility. However, the cryptocurrency is currently in a tight range and will likely exit soon, possibly leading to an impulsive move. Technical Analysis By Shayan The Daily Chart The cryptocurrency market experienced a bullish trend this week, with many assets, including Bitcoin and Ethereum, seeing a surge in price....

Coinbase is ramping up its expansion effort, with Singapore being the first stop. As part of its ambitious plan, the crypto exchange has announced forging a strategic banking partnership with Standard Chartered in the city-state to provide its users with an option to move funds between any lender and Coinbase. The news comes amidst the crypto industry losing a number of banking on- and off-ramps due to the recent turmoil in the US banking industry. Coinbase-Singapore...

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