The troubled crypto investment bank is in talks with potential investors for at least $1 billion in fresh capital, according to a Bloomberg report. Source
Genesis Bankruptcy Jitters Send Bitcoin to Fresh Low
Day: November 21, 2022
Crypto Markets Nervous as the FTX Collapse Dents Institutional Confidence
Bitcoin (BTC) dropped to the $15,500 level, nearing a two-year low, amid a gloomy market climate following the FTX collapse. The largest cryptocurrency by market capitalization was trading as low as $15,591, close to the 52-week low of $15,554. Bitcoin had settled back to around $15,800 as of press time, down roughly 5% in the past 24 hours. “If the $15,500 level breaks for bitcoin, there is not much support until the $13,500 level, followed by the psychological $10,000 level,” Edward Moya, Oanda senior market analyst for the Americas, wrote…
FTX Blowup Helped Enrich the Ethereum Validators Who Run the Blockchain
One of the tools that Ethereum validators can use to circumvent some controversial MEV practices is MEV-Boost, a middleware component created by Flashbots, that allows validators to request blocks from a network of builders. Validators connect to MEV-Boost through relays, like the one that Flashbots runs, to earn MEV. Source link
Cardano to launch new algorithmic stablecoin in 2023
Proof-of-stake blockchain platform, Cardano, has partnered with COTI, a DAG-based Layer 1 protocol, to launch what it refers to as an over-collateralized algorithmic stablecoin. The project said in an announcement provided to Cointelegraph that the stablecoin will be backed by excess collateral in the form of cryptocurrency stored in a reserve. It’s official! $Djed will launch on the Cardano Mainnet in January 2023! $Coti $Ada #Djed pic.twitter.com/cu8ryW6Lo7 — Djed Stablecoin (@DjedStablecoin) November 21, 2022 According to the release, Djed is set to go live on the mainnet in Jan. 2023,…
Crypto Economy’s Market Cap Slides Below $800 Billion for the First Time Since December 2020 – Markets and Prices Bitcoin News
The global cryptocurrency market capitalization has dropped below the $800 billion region for the first time in 691 days or since December 30, 2020. Bitcoin has dipped below the $16K region dropping 5.12% over the past 24 hours, and the second leading crypto asset ethereum shed 7.61% on Monday, dropping below the $1,100 range. Crypto Economy Sheds More Than 4% over the last day, Bitcoin Drops Below $16K, Ethereum Slips Below $1,100 Cryptocurrencies had a rough Monday as the entire digital asset market capitalization saw a 4.37% decrease over the…
US Senate committee schedules FTX hearing for Dec. 1, CFTC head to testify
The United States Senate Agriculture Committee has announced that Commodity Futures Trading Commission, or CFTC, chair Rostin Behnam will be one of the witnesses in a hearing exploring the collapse of crypto exchange FTX. According to the Senate Agriculture Committee website, on Dec. 1 the full committee will listen to testimony from Behnam and presumably other individuals with information about the liquidity issues and subsequent downfall of FTX. The hearing, titled ‘Why Congress Needs to Act: Lessons Learned from the FTX Collapse’ will be one of the first in which…
Abuse on the blockchain – Guest lecture at Stanford University by Molly White
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io “Abuse on the blockchain”. A guest lecture by Molly White at Stanford University on March 7, 2022. This lecture was for two courses that run in parallel—POLISCI 243C: The Politics of Internet Abuse, and CS 152: Trust and Safety Engineering. There is a Q&A portion at the end—to protect the privacy of students I’ve removed any video or audio besides my own, and replaced the question audio with a text summary of the question. The topic I discuss in this lecture is…
US Senators Ask Bank Regulators to ‘Review’ SoFi’s Crypto Listings, Point to Dogecoin Listing
“SoFi’s digital asset activities pose significant risks to both individual investors and safety and soundness. As we saw with the crypto meltdown this summer, where crypto-assets lost over $1 trillion in value in a matter of weeks, contagion in the banking system was limited because of regulatory guardrails,” the letter said. “In the event of crypto-related exposures at SoFi Digital Assets ultimately require its parent company, bank holding company, or affiliated national bank to seek emergency liquidity or other financial assistance from the Federal Reserve or FDIC, taxpayers may be…
Lido fundamentals shine even as the wider crypto market struggles to regain traction
The crypto market has witnessed a turbulent few weeks after the FTX collapse but Lido Finance, a liquid staking protocol, has been a bright spot amidst the chaos. According to Data from DeFiLlama, Lido protocol has earned $1 million or more in fees daily since October 26. Lido fees and revenue over time. Lido has collected over $1M in fees every day since October 26th pic.twitter.com/GHkzSzYIOo — DefiLlama.com (@DefiLlama) November 18, 2022 Let’s analyze the on-chain fundamentals to see why this trend has continued. What’s behind Lido Finance’s growth? Lido’s…
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