MicroStrategy $727,000 impairment charge on its Bitcoin investment [ Crypto Espresso 11.2.22 ]

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io For more information about crypto and today’s stories, just Ask Alex: 🔵 CoinMarketCap Daily: • MicroStrategy Had $917M Impairment Charge on Bitcoin Three Months Ago — Now It’s $727,000 But in a reflection of a challenging bear market, MicroStrategy snapped up just 301 BTC in the most recent quarter — a stark contrast to the 9,000 BTC it bought a year ago. • MakerDAO Co-Founder’s Body Discovered in Puerto Rico Fellow co-founder Rune Christensen paid tribute to Nikolai Muchgian, writing: “Maker would…

MakerDAO Risk Core Unit makes urgent parameter change request in light of recent market events

The MakerDAO Risk Core Unit, a key group within the MakerDAO governance system, submitted an urgent request on Nov. 11 to change collateral parameters for the decentralized autonomous organization’s stablecoin, Dai (DAI). Primoz, a member of the Risk Core Unit team, posted the request to the MakerDAO forum. “In light of recent events in the crypto ecosystem and surrounding uncertainty regarding financial stability and asset liquidity of various entities and their possible relations with token governed protocols, we are proposing following temporary emergency measures.” The message proposed that the debt…

‘Need to update my LinkedIn’ — FTX Ventures head resigns: Report

Amy Wu, an investor in FTX and the head of the firm’s venture capital arm, FTX Ventures, has reportedly resigned her position. According to a Nov. 11 report from The Information, Wu resigned as head of FTX Ventures following the announcement FTX would be moving forward with bankruptcy proceedings in the United States. According to her LinkedIn profile, Wu had been based at FTX Venture’s offices in The Bahamas since January. FTX Ventures’ website along with that of Alameda Research went dark on Nov. 9 amid its parent company’s liquidity…

3 key crypto price events to watch in the wake of the FTX and Alameda debacle

Up until the start of this week, Bitcoin (BTC) had been demonstrating record-low volatility, and this gave altcoins enough latitude to paint some nice technical setups.  At the same time, on-chain data and technical analysis were beginning to suggest that BTC was midway through carving out a bottom, and many analysts believed that brighter days lay ahead. Fast forward to the present, and the volatility spike the market received actually turned out to be a black swan event. As you already know, FTX is kaput. Alameda Research is kaput. BlockFi…

Russian IT Firms Lobby for Crypto Payments in Software Exports – Bitcoin News

Companies developing software solutions for foreign customers are urging Russian authorities to allow them to accept crypto payments. The proposal is part of a package of measures aimed at supporting IT exports suggested by an industry organization to the executive power in Moscow. IT Businesses Call on Russian Government to Permit Cross-Border Crypto Settlements Russian companies from the information technology (IT) sector want to be allowed to make and accept crypto payments when working for clients outside Russia. That’s according to a roadmap prepared by Russoft, the association of Russian…

FTX US suspends withdrawals, according to on-chain data

Following an announcement made 24 hours ago that FTX US may halt trading on its platform, on-chain data reveals that the platform paused withdrawals from the United States-based platform on Nov. 11. The original announcement on Nov. 10 cautioned users to “please close down any positions” while maintaining that its users would still be able to make withdrawals, as that will remain open. Although the FTX CEO Sam Bankman-Fried, also known as SBF, remained insistent that FTX US was fine and had been unaffected by FTX liquidity issues, it appears…

California Finance Regulator Revokes BlockFi’s Lending License

“BlockFi’s announcement, made on November 10, 2022, from its Twitter account @BlockFi, acknowledged that it cannot ‘operate business as usual’ given the ‘lack of clarity on the status of FTX.com, FTX US and Alameda.’ The DFPI is investigating BlockFi’s compliance with the laws within the Commissioner’s jurisdiction, including the California Financing Law. The DFPI is also investigating FTX,” DFPI said. Source

Top Crypto Exchange Coinbase Adds NFT Game Studio Altcoin to Listing Roadmap

Top US crypto exchange Coinbase is adding a non-fungible token (NFT) game studio altcoin to its listing roadmap. Coinbase customers could soon start trading the native token of Vulcan Forged (PYR), an NFT game studio, marketplace, and DApp (decentralized application) incubator. The project says it has more than 10 games, more than 20,000 members in its community, and a top-five NFT marketplace volume. PYR is trading at $3.47 at time of writing. The 257th-ranked crypto asset by market cap is up more than 7% in the past 24 hours but…

CRYPTOCURRENCY MARKET ON FIRE! FIRE SALE INCOMING? POLYGON STILL THE WINNER!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io CRYPTOCURRENCY MARKET ON FIRE! FIRE SALE INCOMING? POLYGON STILL THE WINNER! What’s up A-Team! Wow the market has completed a turn around that isnt looking too hot. Is this the fire sale that everyone is talking about? Bitcoin is down and so is ETH…However too much positive news for POLYGON!! Follow me on twitter: Follow me on TikTok: #bitcoin #crypto #cryptocurrency #auzsomeaustin #bitcoinnews #ethereum #terraluna #luna #terra ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

What’s happening with Elon Musk and Sam Bankman-Fried?

In a matter of weeks, two major players in the tech industry have seen their net worth drop by billions of dollars — partly the result of their own business decisions. Sam Bankman-Fried, the now former CEO of crypto exchange FTX, reportedly had a net worth of roughly $24 billion in March and $16 billion as recently as Nov. 7, but no longer even qualifies for a listing on the Bloomberg Billionaires Index. Some reports suggest that with his stakes in crypto and stock trading platform Robinhood, FTX companies, and…