Day: December 6, 2022

Report Suggests FTX’s Tokenized Stocks Might Not Have Been Backed 1:1, Synthetics May Have Been Used to ‘Manipulate’ Real Stock Prices – Bitcoin News

boss

On Dec. 4, 2022, a report details that FTX-based synthetic stocks may have been used to manipulate the value of AMC shares. In May 2021, FTX offered 36 tokenized stocks but speculators believe it’s questionable whether or not the firm actually held the real stocks in the first place. FTX Listed 36 Synthetic Stocks and Minted Hundreds of Thousands of Tokenized Shares, Report Questions Whether or Not the Firm Actually Owned the Stocks FTX has been under the microscope ever since the exchange collapsed during the first week of November…

Crypto Exchange Bybit To Let Go of 30% of Workforce As Bear Market Drags On: Report

boss

Dubai-based crypto exchange Bybit is kicking off a round of layoffs equalling more than a quarter of their total workforce amid the current market woes. Bybit co-founder and CEO Ben Zhao announced the massive layoffs over the weekend on Twitter. “Difficult decision made today, but tough times demand tough decisions. I have just announced plans to reduce our workforce as part of an ongoing reorganization of the business as we move to refocus our efforts for the deepening bear market. The planned downsizing will be across the board. We are…

Hoops Legend Scottie Pippen Shoots a ‘Web3’ With Virtual Sneakers

As part of the collection, one NFT holder with premium access will receive a VIP tour of Pippen’s hometown Hamburg, Arkansas, including a private dinner. Two NFT winners would get second prize – joining Pippen on the golf course to play the game he has taken up over the past few years after several back surgeries. Original Source HoopsLegendPippenScottieShootsSneakersVirtualWeb3 CryptoX Portal

Warner Music, Polygon and LGND.io partner to launch Web3 music platform

boss

E-commerce and interactive platform builder LGND.io has announced a multi-year partnership with blockchain network developer Polygon and global entertainment company Warner Music Group to create a Web3 music platform called LGND Music.  LGND Music, scheduled to launch in January 2023, is designed to be a music and collectibles platform that supports “digital collectibles from any blockchain in a proprietary player,” thereby making it possible for users to play their digital collectibles on the go. The partnership will allow select Warner Music Group artists to launch digital collectibles on both the…

Bitcoin on-chain data shows 5 reasons why the BTC bottom could be in

boss

After a whirlwind November for Bitcoin (BTC), certain on-chain and Bitcoin price metrics are suggesting that BTC’s bottom could occur in December. In Capriole Investments’ latest report, they provide analysis on Bitcoin finding the bottom. When taking into realized value, miner capitulation, mining electrical costs, downdraw and record hodler numbers, a BTC floor of $16,600 – $16,950 seems formed.  Here are five reasons why Edwards believes Bitcoin price is coming closer to a cycle bottom. SLRV Ribbons flash a buy signal The SLRV Ribbons track investment flows by combining the…

Wikipedia Editors List FTX’s Questionable Blunder as the Top Trading Loss of All-Time – Bitcoin News

boss

Following the collapse of FTX at the beginning of November, two top executives from FTX and Alameda Research — Sam Bankman-Fried and Caroline Ellison — have been listed among traders with the top trading losses worldwide on Wikipedia. According to the Wiki page, Bankman-Fried’s and Ellison’s so-called ‘trading loss’ of 51 billion nominal U.S. dollars is at the top of the list in terms of the highest nominal amount of funds lost by trading. Wiki Article Prematurely Suggests FTX Fiasco Was a $51B ‘Trading Loss,’ Despite Ongoing Investigations The FTX…

Financial Stability Board aims to address crypto-related issues following ‘failure of FTX’

boss

The international monitoring body Financial Stability Board, or FSB, called for a global framework aimed at regulating and supervising crypto in the wake of FTX’s collapse, also saying it would assess vulnerabilities associated with decentralized finance. In a Dec. 6 meeting in Basel, the FSB said it planned to “enhance its crypto-assets monitoring framework” to include “DeFi-specific vulnerability indicators” as well as address the potential impact of having DeFi becoming more closely connected to traditional financial markets. According to the monitoring body, the financial stability risks from the crypto market…