Day: November 11, 2022

FTX ex-exec floats ‘cool token’ idea amid warning rebound may take years

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Bitcoin (BTC) and cryptocurrency may “take years to recover” from the FTX scandal, one industry analyst warns. In a Twitter thread on Nov. 11, Filbfilb, co-founder of trading suite DecenTrader, said that the Terra debacle was itself still playing out. Filbfilb: “I’ve never seen such a debacle” The crypto industry is experiencing “a clear case of what goes up must come down,” Filbfilb summarized. As the fallout from FTX and Alameda Research only begins to become apparent, many industry businesses and associated tokens have been left reduced to a shadow of…

The crypto industry’s Lehman Brothers moment

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The world’s third-largest cryptocurrency exchange, FTX, started the year with a $400 million Series C funding round, taking its valuation to over $32 billion. Ten months later, the crypto exchange is staring down the possibility of bankruptcy after its bid to be acquired by Binance failed. FTX was seen as one of the largest global crypto players as it established itself with multiple mainstream brand and sponsorship partnerships and billions in fundraising. The crypto exchange’s finances were never in question, given it bailed out multiple lending firms during the crypto…

Los exchanges regionales de FTX lentamente vuelven a permitir los retiros

Estas sucursales regionales de FTX son totalmente propiedad de la empresa responsable en Antigua, FTX Trading Ltd., y otorgan licencias de la tecnología de FTX a cambio de regalías que se envían a la casa matriz en Antigua. Los exchanges regionales cumplen con las regulaciones locales de valores valores y, a su vez, ofrecen una selección limitada de tokens (similar a las sucursales regionales de Binance). Dado que cumplen con todas las regulaciones, tienen acceso a los sistemas locales de pago, lo que significa que los traders no tienen que…

FTX Showed the Problems of Centralized Finance, and Proved the Need for DeFi

Despite sell-offs, Uniswap, Balancer, Curv, and other decentralized exchanges (DEXs) and decentralized finance (DeFi) platforms have been functioning smoothly, enabling users to exit their crypto positions or, if they prefer, to capitalize on low prices and buy in. Users may have seen their portfolios decrease in dollar value, but they never lost access to their assets. If that isn’t consumer protection, I don’t know what is. Source

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ETH Moves Higher as Markets Continue to React to US Inflation Report – Bitcoin News

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Ethereum was trading higher on Friday, as cryptocurrency markets continued to rebound, following yesterday’s U.S. inflation report. The better-than-expected 7.7% CPI (consumer price index) figure for October boosted prices, following recent bearish sentiment. Bitcoin briefly climbed back above the $18,000 level on Friday. Bitcoin Bitcoin (BTC) moved higher on Friday, as the token rebounded following a recent spell of relatively large sell-offs. Following a low of $16,290.27 on Thursday, BTC/USD surged to an intraday peak of $18,054.31 earlier in the day. The move came as the world’s largest cryptocurrency continued…

Ethereum turns deflationary for the first time since the Merge — ETH price still risks 50% drop

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The annual supply rate of Ether (ETH) slipped below zero for the first time since Ethereum’s transition to proof-of-stake via the Merge in September. The reason? A spike in on-chain activity amid a massive cryptocurrency market crash.  Ethereum turns deflationary for real As of Nov. 9, more Ether tokens are being burned than created as a part of Ethereum’s fee-burning mechanism. Simply put, the more on-chain transactions, the more ETH transaction fees get burned.  On a 30-day timeframe, the Ethereum network has been burning ETH at an annual rate of 773,000…