Category: Exchanges

Researcher explains ETH exodus from exchanges

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Blockchain analytics carried out by a Nansen researcher has highlighted outflows of Ether (ETH) and stablecoins from centralized exchanges in the wake of FTX’s collapse. Nansen research analyst Sandra Leow posted a thread on Twitter unpacking the current state of Decentralized Finance (DeFi), with a specific focus on the movement of ETH and stablecoins from exchanges. As it stands, the Ethereum 2.0 deposit contract contains over 15 million ETH while some 4 million Wrapped ETH are held in the WETH deposit contract. Web3 infrastructure development and investment firm Jump Trading…

Top Analyst Issues Bitcoin Alert As Top Cryptocurrency Floats Above $16,000

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A widely followed crypto strategist is warning Bitcoin (BTC) traders that the king crypto looks poised for another sell-off event. The pseudonymous analyst Kaleo tells his 545,700 Twitter followers that Bitcoin has taken out its diagonal support on the one-hour chart and appears ready for a steep correction to $12,500. “Zooming in, a continuation lower before any type of bounce is the most likely scenario. We’ve already seen the inverse pennant break lower, and the next solid support level converges at the retest of the high timeframe trend breakout and support…

Let’s Stop Regulating Crypto Exchanges Like Western Union

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The unfortunate failure of one of these money transmitters, West Realm Shires Services Inc., may be the final straw for this rickety arrangement. West Realm Shires Services is the official name for FTX US, a large spot exchange that serves around 1 million Americans. On its website, FTX US lists the 40 money transmission licenses it has been awarded. For states where it has no licenses, like California, FTX US presumably uses a rent-a-license agreement, whereby it contracts with a third party to ride shotgun under its licenses. Source

Bankrupt Crypto Exchange FTX Owes $3,101,348,515 to 50 Largest Creditors

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The collapsed crypto exchange FTX owes more than $3.1 billion to its 50 largest creditors, according to a new bankruptcy filing. The new filing indicates the exchange’s largest creditor is owed more than $226 million, and the top 10 are owed approximately $1.45 billion collectively. The names of the creditors are not listed on the document. FTX’s legal team says the firm is still working out the final figures. “The Debtors’ investigation continues regarding amounts listed, including payments that may have been made but are not yet reflected on the…

10 Best Crypto Exchanges For 2022

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Cryptocurrencies are the current global market trend. This trend is rapidly transforming the business sector into something special and one-of-a-kind. This digital technology was introduced many years ago, but it got off to a slower start than the current trajectory. The primary reason for this technological marvel’s elevation is the world’s sudden adaptation to the digital phase as a result of the recent pandemic. Succinctly, cryptocurrencies are digital currencies that can be purchased and sold over the internet. A system known as the “Blockchain” underpins this technology. A blockchain network…

Collapsed crypto exchange FTX has about $1.24 billion of cash in total — but still owes at least $3.1 billion

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In this photo illustration, a bitcoin logo seen displayed on a smartphone with a FTX logo on the background.  Avishek Das | Lightrocket | Getty Images FTX’s vast web of entities had a total of around $1.24 billion in cash balances as of Nov. 20, according to a new court filing out late Monday. The filing was penned by Alvarez & Marsal North America, which is advising FTX on restructuring efforts after the exchange filed for bankruptcy protection earlier this month. Edgar Mosley, managing director at Alvarez & Marsal North…

How to buy cryptocurrency in Canada?

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Purchasing cryptocurrencies like Bitcoin (BTC), Dogecoin (DOGE) or Ether (ETH) in Canada is on an upsurge as crypto ownership rises. Moreover, the Ontario Securities Commission, in their report, stated that more than 30% of Canadians plan to buy crypto assets in 2023.  So, if you are wondering how to buy Bitcoin or crypto in Canada, then read on and familiarize yourself with the details. Is it legal to buy cryptocurrency in Canada? Cryptocurrency trading is legal in Canada even though it is not yet considered a legal tender. Canada Revenue…

Warren Buffett’s Berkshire Hathaway Warns About Crypto Exchange Website Using Its Name – Featured Bitcoin News

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The Warren Buffett-led Berkshire Hathaway has issued a statement warning that a cryptocurrency exchange website is using its name. The company stressed that the crypto firm has no affiliation with Berkshire Hathaway Inc. or its chairman and CEO, Warren E. Buffett. Berkshire Hathaway Warns About a Crypto Website Berkshire Hathaway Inc. warned Friday that a crypto exchange website is using its name. “Earlier this afternoon it came to our attention that there is an entity using the name Berkshire Hathaway,” the company stated, elaborating: The entity … has no affiliation…

Vitalik Buterin – Centralized Exchanges Could Use Cryptographic Proofs, ZK-Snark To Build Trust

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HodlX Guest Post  Submit Your Post   The renowned blockchain programmer wrote a blog on how centralized exchanges can move toward trustlessness. Buterin opines zero-knowledge succinct non-interactive argument or knowledge (ZK-SNARK) is the best proof of the reserves. Ethereum’s co-founder Vitalik Buterin published a blog on November 19, 2022, on how CEXs (centralized exchanges) can use cryptographic proofs to assure the public that the funds held on-chain cover what they owe. Buterin wrote that on top of the measures used in TradFi (traditional finance) – such as auditors, corporate governance, licensing and due diligence…