Day: November 9, 2022

Binanceโ€™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 โ€œCZโ€ Zhao and FTX CEO Sam โ€œSBFโ€ Bankman-Fried, it seems clear that FTX has serious solvency problems โ€” 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 FTXโ€™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 FTXโ€™s collapse doesnโ€™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 โ€“ like FTX, Binance, Kraken and Coinbase โ€“ that โ€œcustodyโ€ user funds rather than leave them in users’ own crypto wallets. Source

Solana Blockchain Hit by FTX Tremors as Nearly $800M SOL Tokens Set to Be Unstaked

โ€œA reduction in the amount of SOL staked might indicate that investors are looking to sell all or part of their position,โ€ Sean Farrell, head of digital asset strategy at research firm FundStrat wrote in a note on Tuesday evening following the bailout news. โ€œDue to these factors, we think it is wise to reduce exposure to Solana (SOL) in the immediate term.โ€ Source link

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.ย  However, its daily price hasnโ€™t been pretty. As of writing, OKB has lost over 12%, and thereโ€™s no hope of recovery anytime soon. The only other crypto that held on to its weekly gain was Polygonโ€™s MATIC. The token kept…

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

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According to a report from Orthogonal Credit, a delegate of Maple Financeโ€™s lending pools, the firm decided โ€œearlier this yearโ€ not to lend to Alameda Research, FTXโ€™s quantitative trading firm. Orthogonal said through โ€œdue diligenceโ€ it โ€œidentified a number of key weaknessesโ€ associated with Alameda. Orthogonal Credit Found โ€˜Key Weaknessesโ€™ Tied to FTXโ€™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?!

โ–ถ Coinbase Website: Coinbase.com โ–ถ 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 โœ… Become a Blue Edge Crypto member: www.blueedgefinancial.com/crypto โœ…FREE Report: How To Find Viral Alt-Coins: www.blueedgecrypto.com/viral โœ… FREE DeFi Mini Course: โœ…INSTAGRAM: DISCLAIMER: This content is my personal opinion and is intended for general information purposes only, not financial advice. Nothing…