Day: November 9, 2022

Binance’s victory over FTX means more users moving away from centralized exchanges

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Based on the joint statements on Twitter this week from Binance CEO Changpeng “CZ” Zhao and FTX CEO Sam “SBF” Bankman-Fried, it seems clear that FTX has serious solvency problems — so dire that few in the market are willing to save it. As a result, FTX is turning to CZ as a prospective buyer. After CZ exposed FTX’s problems earlier in the week by announcing his plan to dump $500 million of its FTX Token (FTT) on the market, the companies said on Nov. 8 that they had entered…

Why Is Crypto Tanking: The FTX-Binance Drama Explained

Though FTX’s collapse doesn’t speak to the core technology behind any specific cryptocurrency, it has and will damage trust in the entire industry. Specifically, it will raise questions around the power of centralized platforms – like FTX, Binance, Kraken and Coinbase – that “custody” user funds rather than leave them in users’ own crypto wallets. Source

OKB Token Still Holds Above 14% Following Market Plummet

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Thanks to the FTX/Alameda saga, the crypto market has taken a nosedive, dragging everyone along. But while the entire market bleeds, OKB, the native token of OKX exchange, has held on to substantial weekly gains. Specifically, the token is trading at $18.61, a 14.57% rise in the last seven days.  However, its daily price hasn’t been pretty. As of writing, OKB has lost over 12%, and there’s no hope of recovery anytime soon. The only other crypto that held on to its weekly gain was Polygon’s MATIC. The token kept…

Maple Finance Lending Pool Delegate ‘Identified a Number of Key Weaknesses’ Tied to FTX’s Alameda Research – Bitcoin News

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According to a report from Orthogonal Credit, a delegate of Maple Finance’s lending pools, the firm decided “earlier this year” not to lend to Alameda Research, FTX’s quantitative trading firm. Orthogonal said through “due diligence” it “identified a number of key weaknesses” associated with Alameda. Orthogonal Credit Found ‘Key Weaknesses’ Tied to FTX’s Alameda Research Earlier This Year A Twitter thread published by Orthogonal Credit explains that the firm identified a few weaknesses tied to Alameda Research. The Twitter revelation is explained in a tweet that details Orthogonal Credit, a…

Crypto Market Crash Explained | WTF Happened?!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Crypto is crashing right now… but why? In this video Adam explains the drama that’s happening… everything from FED raising interest rates, Celsius blowing up, 3 arrows capital on the brink of bankruptcy… all covered in todays video! #crypto #cryptocrash #cryptocurrencies ✅ Become a Blue Edge Crypto member: www.blueedgefinancial.com/crypto ✅FREE Report: How To Find Viral Alt-Coins: www.blueedgecrypto.com/viral ✅ FREE DeFi Mini Course: ✅INSTAGRAM: DISCLAIMER: This content is my personal opinion and is intended for general information purposes only, not financial advice. Nothing…