Day: November 18, 2022

Russian bill would legalize crypto mining, sales under ‘experimental legal regime’

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A bill was introduced into the Russian State Duma, the lower house of parliament, on Nov. 17 that would legalize cryptocurrency mining and the sale of the cryptocurrency mined. Cryptocurrency cannot currently be used for settlements in Russia.  The proposed law reads, “Digital currency obtained as a result of mining can be disposed of by the person who carried out the mining of this digital currency on the condition that Russian information infrastructure is not used in conducting transactions with it, with the exception of cases of transactions carried out…

Trust Wallet Token (TWT) Undermines Market Downtrends

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As calls for self-custody rage on, Trust Wallet Token has enjoyed unprecedented surges in the past week. On TWT’s week-on-week chart, the token has amassed over 90% gains. This comes as FTX’s debacle unfolds and traders grow wary of centralized exchanges. Furthermore, Binance’s CEO endorsed Trust Wallet in a recent tweet, resulting in more interest in the token. While several Redditors mentioned that Binance owning Trust Wallet was a turn-off, it didn’t stop the token from soaring. TWT also posted substantial gains on the day, with an intraday increase of…

Analysis of FTX and Alameda Collapse Points to Terra LUNA Fallout Starting the Domino Effect – Bitcoin News

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An analysis of the FTX and Alameda Research collapse has been published by the blockchain and crypto analytics firm Nansen and the report notes that the Terra stablecoin collapse, and the liquidity crunch that ensued, likely started the domino effect that led to the company’s implosion. The study from Nansen further details that “FTX and Alameda have had close ties since the very beginning.” Report Shows Terra LUNA Collapse and Intermingled Relationships May Have Initiated FTX’s and Alameda’s Demise On Nov. 17, 2022, five researchers from the Nansen team published…

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Is Binance CEO Changpeng Zhao To Blame For FTX Collapse?

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In the space of one week, FTX had gone from being the second-largest crypto exchange by trading volume to being bankrupt. This swift move from being ‘okay’ to being in ‘hot water’ has shown just how uncertain things can be in the crypto market. Since it happened, there has been some finger-pointing as participants in the space look for someone to blame, and some of those fingers have been pointed at Changpeng Zhao. Is CZ The Cause? The bank run on the FTX crypto exchange had actually started when Binance…

LTC Rallies to 1-Week High, as UNI Snaps Recent Losses – Market Updates Bitcoin News

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Litecoin rallied to a one-week high on Friday, as the token rose for a second consecutive session. The move saw prices climb by close to 8% earlier in the day, and comes as crypto markets mostly traded higher. Uniswap also gained, rebounding from recent losses. Litecoin (LTC) Litecoin (LTC) was a notable gainer on Friday, as the token surged by as much as 8% in today’s session. Following a low of $60.29 on Thursday, LTC/USD raced to an intraday high of $63.61 earlier in the day. As a result of…

$138B investment manager Man Group to launch crypto hedge fund: Report

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London-based investment manager Man Group Plc is preparing to launch a cryptocurrency hedge fund, signaling continued investor appetite for digital assets in the wake of FTX’s monumental collapse earlier this month.  Bloomberg reported on Nov. 18 that Man Group is preparing to launch its crypto-focused hedge fund through its computer-led trading unit AHL. Citing private sources, Bloomberg disclosed that the new hedge fund could be ready by the end of the year.  A spokesperson for Man Group declined to comment on the matter when asked by Cointelegraph.   Man Group already…