Day: November 8, 2022

FTX Token, BNB and Solana soar after Binance CEO inks potential deal to acquire FTX

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FTX Token (FTT) and Solana’s SOL (SOL) endured a tough weekend of trading that saw altcoins take double-digit losses in the 15%–30% range, but the tide turned as news broke that Binance could be in the process of acquiring FTX. On Nov. 8, FTX CEO Sam Bankman-Fried first took to Twitter to announce a liquidity-sharing partnership with Binance. Changpeng “CZ” Zhao, CEO of Binance, agreed to step in and provide liquidity to what was beginning to look like a bank run. Bankman-Fried billed the development as user-focused and benefiting the…

Germany’s financial regulator orders Coinbase to address ‘business organization’ practices

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The Federal Financial Supervisory Authority of Germany, also known as BaFin, has issued an order related to the business organization of Coinbase’s local arm in accordance with the country’s banking laws. In a Nov. 8 notice, BaFin said it had issued the order to Coinbase Germany GmbH for violations of “proper business organization” under the German Banking Act. According to a copy of the legislation made available by the United States Commodity Futures Trading Commission, Coinbase’s Germany arm should have “suitable arrangements for managing, monitoring and controlling risks and appropriate…

FTX, Binance Deal Draws Antitrust Concern

“Next time, check the compliance of your tweet with antitrust laws before you post,” tweeted Thibault Schrepel, an Associate Professor at Amsterdam University who specializes in blockchain and antitrust issues, of CZ’s announcement. “At this stage, I wouldn’t be surprised to find this tweet in a forthcoming court document/antitrust litigation.” Source

Crypto Has Bottomed, Bull Market To Start On This Date – Mark Yusko

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Bitcoin’s Decline Below $20,000 Proves The Bottom Is Not In

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Bitcoin was tethering above $20,000 for the last week, and its ability to hold above this level through the FOMC announcement had led to speculations that the digital asset had finally hit its bottom. However, recent developments and bitcoin’s fall below $20,000 has proven that this is not the case. Even more, it points to a further decline in the market that could drag the cryptocurrency to even lower lows. Bottom Is Not In Bitcoin is now trading in the $19,000 which has completely destroyed the expectation that the bottom…

CZ Says Binance Intends to ‘Fully Acquire FTX,’ Sam Bankman-Fried Confirms Transaction – Bitcoin News

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After all the speculation surrounding the crypto exchanges Binance and FTX, Binance CEO Changpeng Zhao (CZ) revealed that his company is set to acquire FTX. CZ detailed that FTX asked for help and noted there is a “significant liquidity crunch.” FTX CEO Sam Bankman-Fried has confirmed the acquisition will take place. Binance Set to Acquire FTX After Drawn Out Confusion On Nov. 8, 2022, Binance CEO Changpeng Zhao (CZ) revealed that his company would be taking over FTX. “This afternoon, FTX asked for our help,” CZ wrote. “There is a…