Category: News
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…
Despite a Perusal of Proof-of-reserve, CRO Bulls Fail to Overpower Bears
Despite CZ’s idea of open scrutiny of their proof-of-reserves strategy, Cronos’ price action has plunged in the last 24 hours. As of the time of publication, the price of CRO had fallen by more than 15,43%, to $0.06838. The market capitalization of all listed companies dropped by 15.93% to $1,723,475,224 and 24-hour trading volume increased…
Bitfinex CTO reveals reserves after FTX bankruptcy
CTO of Bitfinex reveals reserve proof amidst FTX bankruptcy drama. This year’s collapse of prominent cryptocurrency ecosystems like FTX and Terra (LUNA) has highlighted the need for openness regarding the actual reserves of cryptocurrency exchanges and businesses. Bitfinex, a cryptocurrency exchange, recently made public its proof of reserves amidst widespread uncertainty and skepticism (FUD) in…
Musk says FTX CEO’s Twitter deal tripped his “BS Detector”
After a tweet brought up old text messages between Elon Musk, CEO of Tesla, and Sam Bankman-Fried, controversial founder of FTX, Musk explained why he had decided against working with SBF. Sam Bankman-Fried offered $3 billion on Twitter deal. Elon Musk said, “He set off my bs detector, which is why I did not think…
Price of Solana Fall as Investors Fear FTX Hack
Solana Bears Solana (SOL), a cryptocurrency backed by FTX CEO Sam Bankman-Fried, saw its value drop by over 40% over the course of the previous week. As of this writing, the bears have succeeded in driving the price down by 9.89%, to $15.55. The market cap dropped 10.28%, to $5,605,725,575, and the volume of trades…
FTX Fall Will Have “Cascading Effects”
Binance CEO Changpeng Zhao was quoted by the Financial Times as saying at a conference in India that FTX fall will have “cascading effects,” implying that a crisis could be on the horizon. The tragic decline of FTX has been front-page news everywhere this week. Add to that the news today that the cryptocurrency trading…
FTX Files for Bankruptcy | Sam Bankman-Fried Resigns
Press Release pic.twitter.com/rgxq3QSBqm — FTX (@FTX_Official) November 11, 2022 A crisis level has been reached today in the tragic downfall of one of the largest crypto exchange platforms in the world. Since FTX files for bankruptcy in the United States, CEO Sam Bankman-Fried has resigned. The platform apparently started having trouble earlier this week with…
FTX US Warns Users That Trading Could Be Halted ‘In a Few Days’
FTX’s US operation, which CEO SBF insists is independent, has announced that trading may be suspended soon due to a lack of liquidity. In brief FTX US Warns Users Despite FTX’s liquidity crisis and apparent unraveling this week, CEO Sam Bankman-Fried has maintained that FTX US is a separate company from FTX’s global business and…
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…
Breaking News: FTX appears to have resumed withdrawals, blockchain data shows
Etherscan data from November 10 suggests that troubled cryptocurrency exchange FTX is once again processing withdrawals. After FTX announced on November 8 that it would be suspending all user withdrawals, the exchange’s hot wallet address remained dormant. However, as of 3:50 pm UTC on that day, it began processing withdrawal requests again. At the time…
