Day: November 28, 2022

New BTC miner capitulation? 5 things to know in Bitcoin this week

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Bitcoin (BTC) prepares to exit a grim November just above $16,000 — what could be on the menu for BTC price this week? In a time of what analyst Willy Woo has called “unprecedented deleveraging,” Bitcoin is far from out of the woods after losing over 20% this month. The impact of the FTX implosion remains unknown, and warning signs continue to flow in even after the first wave of crypto business bankruptcies. In particular this week, eyes are on miners, who are seeing profits squeezed by falling spot price…

AAX exec leaves the crypto exchange amid ongoing operational halt

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Weeks after the AAX exchange started halting its withdrawals, its vice president for global marketing and communications announced that he has resigned from his role at the cryptocurrency exchange.  In a Twitter thread, Ben Caselin confirmed that he has left the firm and highlighted reasons as to why he decided to leave his post at the crypto exchange. According to Caselin, despite his efforts in fighting for the community, the initiatives that they came up with were not accepted. The executive described that his role in communications became “hollow.” The…

FTX collapse drives curiosity around Sam Bankman-Fried, Google data shows

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The fall of FTX seemingly had the biggest impact on the crypto ecosystem as Google searches for the CEO Sam Bankman-Fried (SBF) hit the roof over in November 2022. Some of the biggest drivers for this trend include mainstream media attention, colossal losses and political ties. On Nov. 2, SBF lost his credibility after his company Alameda Research was found holding a large amount of FTX Token (FTT), an asset issued by FTX. Over the following two weeks, the crypto community investigated and found SBF guilty of manipulating and misappropriating…

Staggering $2,800,000,000 in Bitcoin (BTC) Has Exited Crypto Exchanges in Just One Month: Glassnode

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Leading analytics firm Glassnode reveals that crypto exchanges are witnessing a massive exodus of Bitcoin as BTC holders take the initiative to self-custody their coins. According to Glassnode’s Bitcoin exchange net position change metric, which tracks the 30-day supply held in exchange wallets, 179,250 BTC worth over $2.8 billion at time of writing has exited centralized crypto exchanges in the last month. Source: Glassnode Looking at Glassnode’s chart, the current rate of BTC leaving crypto exchange platforms is at its highest in over four years. Analytics firm Santiment is also…

South Korean Crypto Exchange Upbit Accused of Instigating Token Removal – Featured Bitcoin News

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According to the CEO of Wemade, Henry Chang, the South Korean cryptocurrency exchange Upbit was the brains behind the Digital Asset Exchange Joint Consultative Body (DAXA)’s decision to delist WEMIX. The Wemade CEO accused Upbit of applying different standards and of failing to furnish his company with the token supply guidelines. Wemade Not Formally Notified About the Delisting Decision Just days after an association of South Korean crypto exchanges announced the delisting of the WEMIX token, Henry Chang, the CEO of Wemade — the token issuer — accused the Upbit…

FTX under ‘active’ civil and criminal investigation: Bahamas AG

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The Bahamas Attorney General (AG) and Minister of Legal Affairs Ryan Pinder has confirmed that the collapsed crypto exchange FTX is the focus of an “active and ongoing” investigation by authorities from the Caribbean nation. In a national statement that was delivered live on the Facebook page of the Office of the Prime Minister on Nov. 27, Pinder explained the “affairs of FTX Digital Markets” are under scrutiny from both “civil and criminal authorities” and Bahamian authorities are working with “a number of specialists and experts and will continue to do…

Bahamian Attorney General Insists FTX Is the Subject of an ‘Active and Ongoing Investigation’ – Bitcoin News

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The troubled and now-bankrupt crypto exchange FTX is the subject of “an active and ongoing investigation,” Bahamian attorney general Ryan Pinder told the press on Sunday. Pinder also stressed that putting the blame on the Bahamas “because FTX is headquartered here would be a gross oversimplification of reality.” Bahamian Attorney General Says the ‘Bahamas Will Emerge, Held in Even Higher Esteem’ On Sunday, the attorney general of the Bahamas discussed the collapse of FTX Digital Markets, and he insisted that Bahamian authorities are investigating FTX. Ryan Pinder started his speech…