Category: Exchanges

24,940,023,596,035 Shiba Inu (SHIB) Worth Over $276,000,000 Transferred From Crypto Exchange to Self Custody: Santiment

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Nearly 25 trillion SHIB tokens worth over a quarter billion dollars have left a top crypto exchange and are now sitting off the market in cold storage, according to new on-chain data. First spotted by crypto analytics firm Santiment, an unknown Ethereum (ETH) address transferred 24.9 trillion SHIB into a self custody wallet in six different transactions. The whale has also been rapidly accumulating ETH since the beginning of March, according to Santiment. “$276M worth of Shiba Inu has been transferred from an exchange wallet to self custody wallet in…

FTX debtors file lawsuit against exchange’s Bahamian arm on ownership of property

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The legal teams representing Alameda Research, FTX US, and FTX Trading have filed a complaint against the Bahamas-based FTX Digital Markets, claiming the company was a “fraudulent enterprise” used as a shell entity to obfuscate the question of the firm’s ownership. In a March 19 filing with the United States Bankruptcy Court for the District of Delaware, FTX debtors said FTX Digital Markets, or FTX DM, as well as the joint provisional liquidators (JPLs) had claimed the Bahamian arm was the “constructive owner” of FTX.com’s fiat and crypto assets as…

Bitcoin Bulls Take Over as Cryptocurrency Surges to Impressive 90-Day High

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After months of uncertainty, Bitcoin (BTC) has finally broken free from the bearish grip that has held it down. The cryptocurrency has made its first higher high since hitting its all-time high, signaling the start of a new bullish trend. While the price could still fluctuate, any downward trend from here would not be a continuation of the previous bear market. This breakthrough in bitcoin’s price offers renewed hope to investors and crypto enthusiasts who have been patiently waiting for a bullish turn. Bitcoin, which reached its all-time high (ATH)…

Americans Lost $2.57 Billion in Cryptocurrency Scams in 2022: FBI 

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According to the Federal Bureau of Investigation (FBI), crypto-fraudulent activities skyrocketed last year. Americans lost over $10 billion to online fraud in 2022, with $2.57 billion drained through cryptocurrency investment scams alone, the premier investigation agency said. Crypto investment scams saw a marked increase in the number of victims and dollar losses in 2022, with the most targeted group being people aged 30 to 49 who are active in the cryptocurrency market. Through out last year, the cryptocurrency market was experiencing a bearish trend. The period was also marked by the…

Large Ethereum Transfer of $33 Million to Binance Causes Volatility in Cryptocurrency Markets

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In a major development that has left the cryptocurrency markets reeling, a large entity transferred Ethereum (ETH) worth $33 million to Binance in a solitary transaction, sources said. This enormous movement of ETH has left the altcoin vulnerable to significant volatility, and its price has fallen by 2.18% from the $1,807 level reported earlier. The identity of the wallet owner from which the transfer was initiated is unknown, but they only had to pay a $1 transaction fee on the Ethereum blockchain. Such a substantial transfer of tokens to an…

Four Major Crypto Exchanges Announce Support for Arbitrum (ARB) Ahead of Massive Airdrop

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At least four major crypto exchanges have now announced they plan to list Arbitrum’s upcoming crypto asset, ARB. MEXC, Huobi and Bybit all say they will list ARB next Thursday, March 23rd, the date of the token’s airdrop. Bitrue also plans to list ARB, noting in a Twitter post that the opening time for deposits and trading will be updated. In a blog post this week, Arbitrum developers announced the airdrop and outlined the protocol’s upcoming plans to switch to being governed by a self-executing decentralized autonomous organization (DAO). The…

FTX’s $6.8 Billion Balance Sheet Shortfall Sends Shockwaves Through Cryptocurrency Industry

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Unexpectedly, it has come to light by our sources that FTX, the cryptocurrency exchange founded by Sam Bankman-Fried, had a staggering $6.8 billion hole in its balance sheet at the time of its bankruptcy filing last November. This news has sent shockwaves through the cryptocurrency industry, raising questions about the stability and sustainability of some of the world’s largest crypto firms. As per the presentation submitted on Friday to the court handling the bankruptcy case, The presentation revealed that FTX.com suffered a massive deficit of $10.6 billion, while its FTX.US…

Top Decentralized Exchange Built on Solana (SOL) To Ban US Customers From Trading Amid Regulatory Uncertainty

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The top decentralized exchange (DEX) built on Solana (SOL) plans to restrict Americans from trading on its platform at the end of the month. Orca (ORCA) announced the new restriction on its website this week, however, it did not provide a reason for the change in policy. “Orca will be adding the United States to the regions and countries which are restricted from trading on orca.so effective March 31, 2023. This will not impact the ability of U.S. users to directly interact with Orca’s smart contract or SDK, nor will…