Tag Archives: featured1

The quick downfall of FTX with an $8-10 billion deficit in its balance sheet has left the broader cryptocurrency market reeling under its cascading effects. Besides Proof of Reserves (PoR) and Reserves to Liability (R2L) Ratio data, Indian crypto exchanges, battling low volume caused by high taxation and an unfriendly regulatory environment, have responded to the evolving situation with some fresh initiatives. Polygon CEO’s Self-Custody Buzz Polygon CEO Sandeep Nailwal was...

Bitcoin keeps trading without any substantial movements, similar to the previous weekend, and seems stuck around $16,500. Its dominance has taken another minor hit as some alts, such as Dogecoin and ApeCoin, have jumped by impressive percentages. APE, DOGE Pump Higher Most of the larger-cap alternative coins stand quiet today, with little-to-no movements, which is somewhat expected as the trading volumes are down again during the weekend. Ethereum, Binance Coin, Ripple,...

Bitcoin continues to display little-to-no price swings and stands still around $16,500. Some altcoins, though, have significantly outperformed BTC, including Dogecoin and Binance Coin, both of which jumped to multi-week highs. DOGE, BNB Soar The altcoins were slightly in the red yesterday, but the landscape is quite different now, at least for some. Binance Coin is among those. Amid the latest rumors around the world’s largest crypto exchange, BNB has jumped by 7%. As a...

The past week was somewhat positive for the entire cryptocurrency market, both in terms of pricing and overall developments. While the meltdown of FTX looms over the industry and most market participants are still afraid of contagion, the total capitalization added over $10 billion amid ongoing developments. First things first, this week’s overall increase doesn’t come on the back of Bitcoin, which is actually down about 1% over the period. The cryptocurrency attempted a push...

The first twelve days of November were perhaps the darkest for 30-year-old Sam Bankman-Fried (SBF), as he not only lost his crypto empire but went from being a Bitcoin billionaire and crypto’s white knight to filing for bankruptcy and owing customers at least $3 billion. The next eight days revealed that SBF’s once-powerful crypto exchange FTX was not what everyone believed it to be. Here’s the timeline of the events that led to the fall of FTX in the last 20 days. The...

In the wake of crypto exchange FTX’s collapse, which triggered a severe contagion across the industry, many shocking discoveries have been made about the company’s governance and management system. A detailed examination of the firm’s bankruptcy filing has shown that “FTX was a slush fund masquerading as a real business,” according to FOX reporter Genevieve Roch-Decter. FTX Approved Expenses with Emojis A part of the 30-page-long filing revealed that FTX Group did not have an...

Bitcoin has not made any decisive moves in days as the asset remains stuck below $17,000. This is expected to an extent today, given the unusually low trading volumes. As such, the alternative coins have stalled, too, with ETH struggling to sustain above $1,200. Bitcoin Flat Below $17K The past two weeks were highly different from one another. The previous one saw massive turbulence propelled by the collapse of once the third-largest cryptocurrency exchange FTX. Bitcoin...

Bitcoin continues to be unable to conquer $17,000 and struggles beneath that line on low Saturday trading volumes. Most alts are quite stagnant today, with little-to-no substantial moves. Algorand is among the few exceptions. Bitcoin Boring Below $17K The past week was significantly different that the previous one, in which bitcoin experienced some of its most violent price declines following the rapid collapse of FTX. In a matter of days, the asset went from over $21,000 to...

After the previous week, which saw the deterioration of one of the largest crypto exchanges, this one was significantly less volatile in terms of price movements but quite eventful for reports popping left and right that revealed intriguing information regarding SBF, FTX, Alameda, and other involved parties. Let’s start with the price developments. The primary cryptocurrency had already suffered a lot from the FTX meltdown, dropping from over $21,000 to a two-year low of...

The cryptocurrency market continues to bleed out and in the past 24 hours, its total capitalization shed another $20 billion. The majority of coins are well in the red and the broader sentiment remains particularly negative and expects further contagion from the FTX fallout. Bitcoin Price Bleeds Out Bitcoin’s price currently sits at around $16,500, down 2.1% in the past 24 hours. This brings the total loss to about 22.6% in the past week. BTC has been trading relatively flat...