Markets

FTX had reportedly reached out to several other large exchanges, including Coinbase and OKX, but was turned down. Its finances were one of the factors after the reviewal of which, Binance backed out of a planned takeover. While Binance may have averted more scrutiny from regulators in Europe and the United States but the botched deal further aggravated the meltdown in the prices of cryptocurrencies. The Billionairs’ Feud Binance and FTX have been at loggerheads long before...

Sam Bankman-Fried issued an official apology following the collapse of his cryptocurrency exchange. He talked about making customers whole and finding a solution that would be best for all parties involved. FTX’s CEO took it to Twitter earlier on November 10 to shine some light on the current situation with his distressed crypto exchange. At first, he apologized for the entire fiasco, and said he should have done better as he had made at least two big mistakes, including...

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While the cryptocurrency industry is caught in what seems to be one of the largest debacles of the year, the US Bureau of Labor Statistics just published the numbers for the Consumer Price Index. The reality beat expectations, resulting in a massive spike in Bitcoin’s price, which reached $17,800 on Binance. The US Bureau of Labor Statistics just published the CPI for October, clocking in at 7.7%, increasing 0.4%, seasonally adjusted. The expectations were mostly for the...

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