Markets

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...

Amid the major crypto exchange FTX’s liquidity crisis, two companies closely tied to it – including Alameda Research and  FTX Ventures – appear to be inaccessible on their websites.  Alameda‘s site has gone private, while FTX Ventures’ site appears to be down entirely. Both have been inaccessible since Tuesday. Alameda is a trading desk launched by Sam Bankman-Fried, the CEO of FTX. The firm was found to have large exposure to FTT on its balance sheet according to a CoinDesk...

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...

Charles Hoskinson – Founder of the blockchain platform Cardano – thinks the turbulence around FTX and its native token – FTT – could be the last adverse event of the ongoing crypto winter. He finds it normal that the entire digital asset space was negatively affected by the news since Sam Bankman-Fried’s trading venue is among the leading entities in its field, and its crisis causes a “cascade through the cryptocurrency market.”  It’s Always Darkest Before the Dawn While 2022...

Solana’s Epoch 370 is set to end in a little under 24 hours, and with it will come the unlocking of over 47 million SOL tokens by validators. This massive token unlock is coming at a time of significant market tumult, not just for Solana but for the entire crypto space following the FTX collapse. According to data from the Solana dashboard, 47,289,526 SOL, worth nearly $1 billion, is set to be unlocked in Epoch 370. An epoch in Solana is a period where validators cannot...

Coinbase verwaltet 20 Milliarden US-Dollar Coinbase macht Verlust: DieTransaktionsumsätze von Coinbase sind im dritten Quartal um 44 Prozent eingebrochen. Obschon sich die Krise auf dem Kryptomarkt auf die Geschäftszahlen der Kryptobörse auswirkt, können die Verluste durch Sparmassnahmen reduziert werden. Der massive Rückgang von Transaktionsumsätzen im dritten Quartal ist hauptsächlich auf die anhaltende Krise im gesamten Kryptomarkt...

Blockchain platform Point Pay is creating a new project it’s calling “Launched Solutions to Navigate the Cryptocurrency Market Turbulence.” Point Pay Is Working Hard to Solve Crypto Trouble The goal is to ensure that customers have what they need to deal with the ongoing volatility and speculation of the crypto space, which has been occurring since the beginning of the year. There is no doubt that crypto, in many ways, is failing miserably, and the entire arena appears...

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Maren Altman – a crypto astrologist – is taking a lot of flak as of late for her past support of Celsius, a doomed digital currency lending network that ultimately entered bankruptcy proceedings last summer. Celsius Continues to Draw Angry Crowds Celsius has taken on a new form in recent days. What was once a highly respected and loved digital currency platform has practically become a curse for many traders, some of which plunked their life savings into the lending...