Markets

BlockFi is looking for answers to its liquidity troubles caused by its heavy exposure to FTX – and bankruptcy is reportedly on the table.  The crypto lending firm is already preparing a potential bankruptcy filing, people familiar with the matter told the Wall Street Journal. It’s also reportedly planning to lay off workers – a common practice for crypto firms during the 2022 bear market.  BlockFi already paused customer withdrawals and limited activity last week, citing the...

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The Seychelles-based crypto exchange – OKX – reportedly introduced a $100 million fund to aid companies with liquidity issues. The world’s largest cryptocurrency platform – Binance – launched a similar initiative to reduce the negative effects of FTX’s collapse. According to the Chinese reporter Colin Wu, OKX will distribute $100 million across numerous projects that experience significant issues after the crash of FTX. It will also help entities migrate from Solana (which...

In a surprise twist, Binance – the world’s largest and most popular digital currency trading firm – has agreed to purchase competitor FTX, which at this time is experiencing what it’s referring to as a “liquidity crunch” and is in need of some financial help. Binance Said It Would Buy FTX The irony is that FTX spent millions of dollars recently bailing other companies out of their messes. Who would have thought the enterprise that at one time appeared so popular and stable would now need...

The native token of FTX – a leading, yet new digital currency exchange – took a harsh dip in mid-November after news came about that Binance – one of the world’s biggest crypto trading platforms – was liquidating its holdings of the asset and ending its support for it as a means of preventing competition to its own native currency BNB Coin. FTX Is Having It Hard The FTX asset fell by as much as 15 percent following the news, and this leakage eventually made its way into...

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ADA price failed to surpass the $0.400 resistance and declined against the US Dollar. The price is now trading below $0.400 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $0.320 on the 4-hours chart (data feed via Bitfinex). The price could continue to move down if it fails to stay above the $0.315 support zone. Cardano price is struggling below $0.40 against the US Dollar, similar to bitcoin. ADA price...