Category: News
FTX stake in US bank raises concerns about banking loopholes
Many more of FTX’s unethical practices were revealed when it declared bankruptcy. Concerns have been raised again about the company’s business practices and whether or not FTX is taking advantage of banking loopholes after it was revealed that it owns a small bank in a small town in rural Washington. The renamed Farmington State Bank…
A New Burn-Speeding Feature From BabyDogeSwap Is Coming To DeFi Swap
Reports say that BabyDogeSwap is about to add a new feature that calculates an estimated token burn rate per swap. This new function will give a rough estimate of how many BabyDoge tokens will be lost when they are traded on the DEX. The new function will be available for all BabyDogeSwap DEX pairs, including…
Despite SHIBA price drop, 50,000 new Shiba Army wallets were registered
The total crypto market cap has fallen to $814 Billion, a drop of 2% overnight, as the infamous liquidity crunch on FTX continues to claim victims. According to data from LunarCrush, the value of the widely used memecoin Shiba Inu (SHIB) has gone down by 3.07% in the last 24 hours, to $4.68 billion. Despite…
SNM Crypto over $4 after 24-48-hour surge
According to CoinMarketCap, a website that keeps tabs on the cryptocurrency market, SONM (SNM), a crypto project that was thought to be dead, has surged 1,870.15% over the last 24 hours. This means that the current price of SNM is $4.02. Against the two market leaders in the cryptocurrency space, Bitcoin (BTC) and Ethereum (ETH),…
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…
Andrew Yang says the FTX collapse could spur harsher regulation
In the wake of the FTX collapse, calls for stricter regulations around cryptocurrencies and digital assets are likely to grow louder. However, as former US presidential candidate Andrew Yang has pointed out, such regulations are not conducive to turning the US into a hub for blockchain innovation. On November 18th, Yang spoke at the Texas…
The FTX fallout is bloody
Bitcoin (BTC) is the most revolutionary currency since the advent of modern currency. Citizens are protesting the indentured servitude brought on by fiat economics by purchasing and holding Bitcoin. One of the largest wealth transfers in history has been set in motion, and its full effects will not be felt for decades. Bitcoin’s inspiring and…
Proof of Reserves: key to crypto trust?
After FTX’s catastrophic failure, the cryptocurrency industry was in shambles. destroying not only a wide variety of systems but also the public’s conception of the market as a whole. Is Proof of Reserves, however, really the answer to restoring people’s faith in crypto? The market could use more transparency, and with so many players focusing…
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…
