Markets

In a hearing from today, a bankruptcy attorney said that FTX has managed to locate over $5 billion of assets. Per a CoinDesk report, the attorney said that they’ve managed to locate over $5 billion of cash and liquid assets. We have located over $5 billion of cash, liquid cryptocurrency, and liquid investment securities measured at petition date value. This number doesn’t include the $450 million in cryptocurrencies that are currently held by the Securities Commission of the...

The Swedish Financial Supervisory Authority registered the world’s largest cryptocurrency exchange – Binance – as a financial institution for management and trading in virtual currency in the Scandinavian country. This is the seventh EU nation where the platform has received such a license, with the previous six being Italy, France, Spain, Poland, Cyprus, and Lithuania. Binance announced that its Swedish subsidiary – Binance Nordics AB – obtained registration from the...

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Tron price started a fresh increase above the $0.0535 level against the US Dollar. TRX price is now trading above $0.0542 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $0.0525 on the 4-hours chart (data feed via Kraken). The pair could continue to move up if it breaks the $0.0560 resistance zone. TRON price started a fresh increase above $0.0542 against the US Dollar, similar bitcoin. TRX price could...

Bitcoin price started a fresh increase from the $16,650 zone against the US Dollar. The price is now trading above $17,000 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near $17,050 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair could continue to move up if it stays above the $17,000 resistance zone. Bitcoin price is rising above $17,000 against the US Dollar. BTC might extend gains if...

Seychelles-headquartered crypto exchange – Huobi Global – has been in trouble for quite some time now, which has translated into losing significant market share. The company has been mired in controversy for allegedly shutting down internal com and feedback channels and canceling various employee benefits, among other things. Its market share is also under threat from rival companies. According to the latest study by data provider Kaiko, Huobi’s market share declined from 22%...

Group One – a proprietary trading firm – has purchased options to buy 1.3 million shares of MicroStrategy (MSTR) worth $240 million, per a recent Securities and Exchange Commission (SEC) filing.  As reported by Bloomberg on Tuesday, the purchase would account for a 13.5% stake in MicroStrategy, whose executive chairman is the Bitcoin booster, Michael Saylor.  Group One is a market maker and liquidity provider for U.S. equity options and other securities.  MicroStrategy is an...

Nikhil Wahi – brother to former Coinbase product manager Ishan Wahi – has been sentenced to 10 months in prison following his guilty plea to leveraging his familial connection for insider trading of crypto tokens.  The accomplice will be forced to return the $892,000 he generated in profits from those trades.  “A Terrible Mistake” In July, both Nikhil and Ishan Wahi were arrested on allegations that the latter tipped his brother with information about upcoming Coinbase...

Polygon founder Sandeep Nailwal has unveiled the first 13 Web 3 companies to participate in Beacon, his newly launched startup accelerator. The team has confirmed that companies involved in the next cohort will each receive $250,000 in support, for an $8 million post-money valuation.  Fostering Web3 Growth Nailwal announced Beacon’s launch late last year, with the goal of helping Web 3 founder navigate the challenges of the industry. It uses weekly sessions and mentoring to...