Day: November 17, 2022

US Sen. Warren and Durbin demand answers from Bankman-Fried and his successor at FTX

United States Sens. Elizabeth Warren and Richard Durbin wrote to the former and current CEOs of FTX, Sam Bankman-Fried and John Jay Ray III, respectively, on Nov. 16 to ask for more information on the collapse of the cryptocurrency exchange. They made 13 requests for documents, lists and answers.   “The public is owed a complete and transparent accounting of the business practices and financial activities leading up to and following FTX’s collapse,” the lawmakers wrote. They provided a summary of the major press coverage of the unfolding events and…

Here’s how the CFTC could prevent the next FTX

boss

FTX declared bankruptcy this month with $900 million in assets against $9 billion in liabilities. Its founder and former CEO, Sam Bankman-Fried, is being questioned by police in the Bahamas, and many customers are unable to withdraw their deposits. Its holdings of Serum’s SRM, a token Bankman-Fried developed, dropped from a value of more than $2 billion to less than $100 million. Things got worse over the weekend after FTX was apparently hacked, leading to the loss of an additional several hundred million. Some commentators are already calling it cryptocurrency’s…

Jump Crypto denies rumors that it intends to wind down due to FTX losses

boss

Jump Crypto, a division of the Jump Trading Group, has denied  rumors circulating online that it intends to wind down operations due to its exposure to FTX losses.  According to a tweet shared by the company on Nov. 17, “Jump Crypto is not shutting down. We believe we’re one of the most well-capitalized and liquid firms in crypto.” adding that i still in the business of “investing and trading.” Given the rumors flying around, we want to debunk a few things. Jump Crypto is not shutting down. We believe we’re…

Apple Could Be Developing Its Own Metaverse Platform – Metaverse Bitcoin News

boss

Tech and communications giant Apple might be developing its own metaverse, recently posting several job offerings in the fields of virtual reality (VR) and augmented reality (AR). One of the job listings calls explicitly for engineers experienced in the development of a “3D mixed-reality world,” for the Technology Development Group, the virtual reality division of the company. Apple Might Be Working on Its Own ‘Horizon Worlds’-Type Metaverse Iteration Apple posted a set of job listings on Nov. 13 that could give some perspective on the direction the company is heading…

$600M in Bitcoin options expire on Friday, giving bears reason to pin BTC under $16K

boss

No one can blame Bitcoin (BTC) bulls for placing bets at $20,000 and higher for the $600 million weekly options expiry on Nov. 18. After all, this level had provided a solid resistance since Oct. 25 and held for almost two weeks. However, the base scenario changed abruptly on Nov. 8 after a liquidity crisis halted withdrawals on the FTX exchange. The movement surprised traders and over a 48-hour timespan, over $290 million in leverage buyers were liquidated. Bitcoin/USD price index, 12-hour chart. Source: TradingView The market quickly adjusted to…

How a single strategy crypto algorithm gained 176.31% while Bitcoin tanked 65% in 2022

boss

Before we get into the nitty-gritty of how one simple rule created the kind of insane return on investment noted in the headline — during one of the worst Crypto Winters in recent history — let’s be clear on one thing. You can’t copy this now. But anyone with access to Cointelegraph Markets Pro in 2022 could have. This is not a mere backtested strategy. It’s a real-life strategy — although you’re about to see historical results.  This is no longer a thought experiment or proof-of-concept; it is an actual…

Custodians Could Sweep Up Following FTX Collapse: Strategist

“Someone like Coinbase is simply not large enough to gain the faith and trust of very large asset managers and traders who are looking to be active in the space,” Marenzi said, adding that institutional investors, worried about whether their funds are securely stowed away, could be “scared away” for some time, even months. Source