Author: Peter Oba
Teams and Athletes rush to cancel FTX contracts
It’s been a bad month for FTX so far, with the company’s former CEO, SBF, filing for Chapter 11 bankruptcy a week ago. The now-defunct cryptocurrency exchange and its disgraced founder paid about $375 million for long-term FTX contracts with teams and athletes. Athletes were also offered a stake in the company. Most of them…
Forbes Calls Almeda Research CEO Caroline Ellison a “Math Whiz”
Forbes has written an article calling Alameda Research CEO Caroline Ellison a “math whiz,” which is hard to believe. while she was responsible for the loss of over $9 billion in FTX customer funds. The cryptocurrency market has been devastated by her role in the FTX collapse. A recent Forbes article, however, appears to have…
Sam Bankman-Fried got $3.3 billion from Alameda Research
It’s an ongoing debate that seems to have gotten more heated over time. Filings for bankruptcy have revealed that FTX founder Sam Bankman-Fried received a loan of $3.3 billion from Alameda Research. One of the most prominent global marketplaces to buy and sell cryptocurrencies has been brought down by this scandal. The cryptocurrency market has…
Huobi and Gate.io accused of sharing snapshots with loaned funds
Shortly after publishing its asset snapshot, the Huobi exchange was found to have sent 10,000 ether to deposit addresses at Binance and OKX. Crypto exchanges have decided unanimously to share proof of reserve with the public as a way to showcase legitimacy in the wake of growing mistrust among crypto investors following the FTX collapse.…
Crypto.com Under Fire for MEME Coin Reserves and Fishy ETH Transfer
During the FTX crash, Crypto.com made headlines when it said that 20% of its holdings were in the Shiba Inu (SHIB) token, a very risky “meme coin.” This led to Crypto.com coming under fire. The reports were published in an effort to increase communication between the platform and its users during the recent cryptocurrency market…
FTX Seeks $9.4 billion from investors and competitors
By Angus Berwick and Tom Westbrook (Reuters) – A source said Thursday that FTX is trying hard to get about $9.4 billion from investors and competitors. CEO Sam Bankman-Fried is trying to save the cryptocurrency exchange, which has been hit hard by a rush of customer withdrawals. The Insider According to the insider, Bankman-Fried has…
This altcoin will surge 200% in 2023
Polygon (MATIC) is one of the leading gainers in today’s cryptocurrency market, up 15% in the last 24 hours. Traders should remember that the last time MATIC saw such optimism, the stock continued to rise until it had gained 13,000 percent. For over three months, MATIC traded flat before showing some strength on October 20…
Canadian Crypto Exchange Becomes to First to Re-list XRP, Will Coinbase Follow Suit?
Canada’s most popular cryptocurrency exchange, Newton Crypto, is one of the first to re-list XRP. Due to the ongoing litigation between Ripple and the SEC, the token was removed from the platform in early 2021. More than 100,000 users visit the Newton exchange every day, and now those users can buy XRP. Coinbase, a major…
CZ Binance explains why it’s so important to be building during the bear market
One of the crypto industry’s top executives explains why: cheaper labor and business acquisition. Binance CEO Changpeng Zhao “CZ” spoke on a live panel at the Web Summit in Lisbon, explaining why he thinks it’s crucial for cryptocurrency projects to keep moving forward despite the bear market. This is what CZ has to say about…
MicroStrategy CEO reiterates ‘long term’ Bitcoin play in Q3 earnings
MicroStrategy, a provider of business intelligence solutions, reported a net loss of $27.1 million for the third quarter of 2018, despite the fact that it increased its Bitcoin (BTC) holdings during the same time period. One of the largest publicly traded companies in the world has confirmed that it still holds 130,000 BTC as of…
