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…
Bitgert updates: BRISE holders are using OKSE Visa cards
Bitgert (BRISE) is at the forefront of the rapid growth in the use of cryptocurrencies in everyday life. The BRISE cryptocurrency can be used to make purchases at many online stores. OKSE is a wallet that doesn’t hold your money. It accepts Visa payments and is used in over 170 countries. Bitgert recently partnered with…
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…
Whales dumping FTX Token and Cronos
Following the dramatic fall of the FTX empire, hopes for a successful “Moonvember” were dashed. A decline in Bitcoin’s value, sparked by Sam Bankman-Fried, has brought its price down to around $15,000. Many other digital currencies suffered similar losses. However, tokens used on exchanges ranked highest. Large investors dumped their holdings of FTX Token and…
After Solana-based Serum forks, SRM rose 175%
The troubled cryptocurrency exchange FTX was breached a few days ago. Elliptic, a blockchain forensics company, recently published an article highlighting the removal of various tokens on Ethereum, BNB Smart Chain, and Avalanche. About $477 million of the $663 million lost is thought to have been stolen, while the rest was probably put into safekeeping…
Bitcoin, Ethereum, MATIC inflows claim new 14-week high
Institutions appeared to be avoiding cryptocurrency up until very recently. Several recent articles reported that flows were either negative or slightly positive, illustrating the “tepid investor appetite” that has been prevalent recently. However, it appears that the tide has turned recently. The latest weekly report from CoinShares shows that crypto-related investment products received $42 million,…
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