Whether or not Bitcoin and other cryptocurrencies are long-term inflation hedges and a store of value or simply a “risk-on” speculative assets preferred in times when bond yields are unattractive is yet to be perfectly understood. Source
In light of the FTX liquidity crisis and the almost-acquisition by Binance, Binance CEO Changpeng “CZ” Zhao assured his community that his network would provide full transparency on asset holdings. On Nov. 10, Binance published a new page titled “Proof of Assets” on which all details are available of its on-chain activity for its hot and cold wallet addresses. This comes only two days after the initial tweet from CZ on Nov. 8, in which he pledged to create a proof of reserve mechanism to ensure “full transparency” to the community.…
Behind growing expectations for the smaller move are ideas that recession risks are on the rise, with Fed Chair Jerome Powell conceding at his most recent press conference that the path to a soft landing has “narrowed.” Powell also signaled that the central bank might consider a smaller rate increase in December. On the other hand, Powell said that the terminal rate for this tightening cycle will likely be higher than previously forecast. Original
Cryptocurrencies continued to crash on Thursday, as market sentiment surrounding the FTX saga remained on the minds of traders. Bitcoin fell below $16,000 late on Wednesday, with prices remaining close to two-year lows today. Ethereum slipped below $1,100, with attention now focused on today’s U.S. inflation report. Bitcoin Bitcoin (BTC) continued to trade close to a two-year low on Thursday, as market sentiment remained bearish following the FTX collapse. This, in addition to today’s U.S. inflation report, led to an increased level of bearish pressure, which sent the token below…
While information leaks and unconfirmed reports can be a way for the truth to reach the public, they can also be a tool that fans the flames to grow even further in an already burnt-out crypto market. In a recent article, Reuters claimed that FTX used some of its customer deposits to support Alameda Research from its financial difficulties. Apart from this, the mainstream media outlet also described Binance pulling out of the FTX acquisition as a “failed bid to save crypto.” Apart from this, a message from FTX CEO…
The crypto market is still seems to be in the grasps of FTX and Alameda. Currently, rumors are circulating that Tether’s stablecoin USDT might be more affected by the downfall of FTX than it would like to admit. Moreover, there currently seems to be an attack on USDT as a result of which Tether (USDT) briefly lost its usual peg to $1. The largest stablecoin by market cap was trading at $0.9915 temporarily, down 0.68%. Sam Bankman-Fried company Alameda, which borrowed $250,000 USDT from Aave and exchanged it on Curve…
Similarly to Bitcoin and other altcoins, ETC (Ethereum Classic) has been severely impacted by the FTX liquidity crisis. CoinGecko data show that the historical performance of the coin on the daily, weekly, biweekly, and monthly time frames is not promising for the ETH fork. The most noticeable depreciation among these was recorded for the bi-weekly time scale, at a rate of 16.7 percent. If other measures continue to lag, what does the future hold for ETC? ETC Stepping On Green The token has gained 19.35% so far today. While $18.255 provides…
The raise could end up being for FTX International and FTX US combined. Source
Sam Bankman-Fried transfirió al menos US$4000 millones de fondos de FTX garantizados por activos que incluyen el token del exchange, FTT, y acciones de la plataforma de trading Robinhood Markets Inc (HOOD) para dar asistencia a Alameda Research tras una serie de pérdidas por acuerdos que sufrió la empresa, según tres personas familiarizadas con el tema que aparecen en el informe de Reuters del jueves. Source
Bitcoin cayó alrededor de 10% hasta llegar a US$16.622, a medida que la crisis de liquidez de FTX continúa agitando a los mercados. Original