In a press statement following the collapse of crypto exchange FTX, the Bank Policy Institute, which represents big banks, said in a statement that “as FTX files for bankruptcy after failing to secure a bailout, policymakers should ensure they do not embed crypto firms in the heart of the financial system by giving them Fed accounts.” Source
Nickel Digital Asset Management is not the only company feeling the effects of FTX’s collapse and bankruptcy. NFT protocol Metaplex also laid off, “several members of the Metaplex Studios team” due to the “indirect impact” from the collapse of crypto exchange FTX. The co-founder and CEO of Metaplex Studios Stephen Hess shared in a thread on Twitter that: “While our treasury wasn’t directly impacted by the collapse of FTX and our fundamentals remain strong, the indirect impact on the market is significant and requires that we take a more conservative…
After the collapse of FTX, a number of journalists reported on the fact that FTX executives deployed significant donations to political leaders in the United States. During the most recent election cycle leading up to the U.S. midterms in 2022, reports claim that Sam Bankman-Fried donated more than $40 million to Democrats via super PACs and direct contributions. Furthermore, reports also claim that FTX Digital Markets’ co-chief executive officer Ryan Salame gave $22 million to Republicans. High-up FTX Executives Injected $57 Million Into Democrat Coffers, $22 Million Went to Republican…
2022 was a tough year for crypto, and November was especially hard on investors and traders alike. While it was incredibly painful for many, FTX’s blowup and the ensuing contagion that threatens to pull other centralized crypto exchanges down with it could be positive over the long run. Allow me to explain. What people learned, albeit in the hardest way possible, is that exchanges were running fractional reserve-like banks to fund their own speculative, leveraged investments in exchange for providing users with a “guaranteed” yield. Somewhere across the crypto Twitterverse,…
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io In this video I talk about what is next for my GPU mining Youtube channel, now that GPU mining isn’t profitable anymore after the Ethereum merge. I go over my plans to cover other types of mining like CPU mining and ASIC mining, as well as some interesting ways of making GPU mining profitable again. – 👕 𝐆𝐄𝐓 𝐎𝐅𝐅𝐈𝐂𝐈𝐀𝐋 𝐆𝐏𝐔𝐇𝐄𝐀𝐃𝐙 𝐌𝐄𝐑𝐂𝐇 (𝐓-𝐒𝐇𝐈𝐑𝐓𝐒, 𝐒𝐓𝐈𝐂𝐊𝐄𝐑𝐒 𝐄𝐓𝐂) – 🤑 𝐆𝐞𝐭 𝐭𝐡𝐞 𝐁𝐄𝐒𝐓 𝐕𝐀𝐋𝐔𝐄 𝐟𝐨𝐫 𝐦𝐨𝐧𝐞𝐲 𝐄𝐓𝐇/𝐄𝐓𝐂 𝐦𝐢𝐧𝐞𝐫𝐬 (𝐢𝐏𝐨𝐥𝐥𝐨) Get $100 off their latest miner, the…
Calls for harsher regulations around cryptocurrencies and digital assets will likely grow louder in the aftermath of FTX’s collapse — something former United States presidential candidate Andrew Yang said isn’t conducive to making America a hotbed for blockchain innovation. Speaking at the Texas Blockchain Summit in Austin on Nov. 18, Yang acknowledged that the bankruptcy of FTX and sister company Alameda Research would make common sense crypto regulation harder to pass in the short term. “I’ve always been in the camp that some intelligent regulation is a good thing. I…
For years, tax help giant Intuit quietly lobbied against the Return Free Tax System, an initiative from the IRS dating back to the 1990s to build their own self-hosted, free system for taxpayers to file. Instead of this governmental service, Intuit and other tax preparation software providers agreed to offer a free version of their software for low income Americans. Source
Bitcoin (BTC) price has tested the $16,000 resistance multiple times since the 25% crash that occurred between Nov. 7 and Nov. 9, and some critics will justify their bearish bias by incorrectly assuming that the failure of FTX exchange should trigger a much broader correction. It’s kind of annoying me that Bitcoin is still selling for $16k-ish, even in the wake of all of this FTX news. I mean I assume the volume is low, but what on earth will it take to properly crush this zombie “currency” back to…
Crypto analytics firm Nansen is turning to on-chain data to take a deeper look at the relationship between embattled crypto exchange FTX and its affiliated trading firm Alameda Research. In a new report, Nansen says it conducted a blockchain analysis of Sam Bankman-Fried’s two companies amid allegations that FTX was started to raise funds for Alameda. “This research leverages Nansen’s labeling heuristics to track known wallets of the involved entities and verify their actions on-chain, to make sense of what actually happened during the FTX-Alameda debacle.” Nansen says the analysis…
The added pressure comes after Genesis Global Capital – a corporate sibling to bitcoin trust manager Grayscale Investments – halted customer withdrawals from its lending unit this week. Source