Day: December 21, 2022

FTX Recovers $1 Billion in Assets as Company Unwinding Continues

The insolvency specialists at FTX have recovered $1 billion worth of assets from numerous banks, including over $800 million in cash. Recent reports state that the new management behind sunken crypto exchange FTX has identified new assets worth $1 billion, including $720 million in cash. This recent discovery is part of concerted efforts by the new FTX executives to claw back as much money as they can from numerous bank accounts. Since John Ray III and his associates took over FTX from Sam Bankman-Fried, they have sought to resolve the Bahamian exchange’s insolvency. However, Ray…

Bitcoin price fails to retake $17K with market ‘not prepared’ for dip

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Bitcoin (BTC) divided traders yet again on Dec. 21 as sideways BTC price action split opinion on the future. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $17,500 becomes popular BTC price target Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it acted within a tight range just below $17,000. A single brief spike above the $17,000 mark failed to last, the pair returning to familiar territory from the past week. For popular traders, there was a lack of consensus, with some calling for an eventual breakout to the…

FedEx Plans Additional Costs Cut amid Weakening Global Demand

FedEx said it is important to cut fiscal 2023 costs to align with weaker-than-expected volume. American transport company FedEx (NYSE: FDX) plans to cut more costs as lower demand continues to affect the company’s profits. FedEx said it would cut $1 billion more in cost as weak demand hurt its quarterly profit. This comes after a September announcement about cost-cutting measures amid the global softening market. These measures included parking planes and the closure of some offices. At the time, the company also upped its delivery rates. It increased its…

Chinese EV Company Nio Falls Victim to $2.25M Bitcoin Blackmail, Vows to Crack Down on Data Theft with Rule of Law

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The hackers are running a blackmail on Nio, and are asking for Bitcoin payment in exchange for user information stolen from the EV company. Chinese multinational automobile manufacturer Nio has become one of the latest Bitcoin blackmail victims in the dynamic tech space. Yesterday, December 20th, Bloomberg reported that the Shanghai-based electric vehicle (EV) specialist saw its user and car-sales data stolen by hackers. The report stated that the hackers sent Nio an email this month demanding $2.25 million in Bitcoin (BTC) to potentially preempt releasing the stolen data. According to internal investigations, the…

Ethereum (ETH) Will Overtake Bitcoin, At Least Temporarily

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While the bear market is still in full swing, several experts are currently discussing when the “flippening” will happen. Flippening is described as the scenario where another cryptocurrency overtakes Bitcoin (BTC) in terms of market capitalization. Ethereum is considered the most likely option by many crypto investors – including Jordi Alexander, CIO of Selini Capital. In an interview with Crypto Banter, Alexander said that he’s not really a proponent of the flippening, but believes it will happen at some point. “I do think it’s going to happen, temporarily at least.…

Scottie Pippen’s NFTs Sell Out in 77 Seconds

Like Hopkins’ NFT collection, Scottie Pippen’s NFTs were issued in partnership with Orange Comet. NBA legend Scottie Pippen’s NFTs have sold out in seventy-seven seconds, breaking the OpenSea sales record. At 0.2 ETH per NFT, more than $240,000 in sales volume has been made. The record was previously held by Anthony Hopkins’ NFT collection. The Hopkins NFT collection sold out more than a thousand NFT art pieces in seven minutes. Also, former President Trump recently launched NFT trading cards with his picture. The entire collection, comprising about 45,000 trading cards,…

Bitcoin vs. DXY

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io There has historically been an inverse correlation between #Bitcoin and #DXY. However, we have previously seen the inverse correlation between #DXY and risk assets break down coming out of periods of high #inflation. Let’s dive into the charts and discuss! Into The Cryptoverse Premium: Into The Cryptoverse Newsletter: LIFETIME OPTION: Alternative Option: Merch: Disclaimer: The information presented within this video is NOT financial advice. Telegram: Twitter: TikTok: tiktok.com/@benjamincowencrypto Instagram: Discord: Facebook: Reddit: Website: ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube…