Tag: Exchange

FTX’s Odd Relationship With Vertical Farming Firms — A Look at Exchange Boss Ryan Salame’s and Bahamian PM Philip Davis’ Trip to 80 Acres – Bitcoin News

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After discovering that ten holding firms associated with FTX Digital and Alameda Research invested roughly $5.4 billion into nearly 500 firms and projects, people have been curious about a few specific investments. One specific investment made by FTX Ventures Ltd. was for $25 million into the Ohio-based firm 80 Acres, a company that specializes in vertical farming. It seems that 80 Acres Farms was partnered with a Bahamian hydroponic producer called Eeden Farms, and Ryan Salame, the co-chief executive officer of FTX Digital Markets, toured 80 Acres farm in Ohio…

Waves-backed stablecoin USDN drops further after regulator warning and exchange delisting

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Algorithmic stablecoins have had a rough year, starting with UST de-pegging to zero and the subsequent blow-up of Terra’s LUNA token which was used for the asset’s backing. Algorithmic stablecoins are not fully collateralized and rely on different mechanisms to maintain the peg, making them inherently fragile to market conditions.  The UST implosion created a domino effect that caused another stablecoin, Magic Internet Money (MIM) to de-peg. Despite the fragility of algorithmic stablecoins, new projects like Djed by Cardano (ADA) are still planning on launching, but that doesn’t mean that…

Newlyweds lose funds in FTX exchange a day after their wedding

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While it’s undeniable that companies were significantly affected by the FTX debacle, retail investors like Jaime Zulueta – who recently just got married – also bore the burden of trusting a trading platform that ended up collapsing to oblivion.  Speaking to Cointelegraph, Zulueta told the story of how he and his wife dealt with the challenge of losing some of their investments right after their wedding. According to the crypto investor, he first found out about the exchange because it was popular in Taiwan, his partner’s home country. “Prior to…

Crypto Exchange Coinbase Adds Surprise Support for Metaverse Altcoin Project

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The largest US crypto exchange by trading volume is adding a metaverse altcoin to its list of supported crypto assets. Coinbase Assets is announcing that trading for the native token of the MultiversX (EGLD) blockchain will debut on its platform starting December 7th once liquidity conditions are met. “Coinbase will add support for MultiversX (Previously Elrond) (EGLD) on the MultiversX network. Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on Coinbase & CoinbaseExch in the regions where…

Exchange Whale Ratio Sharply Declines

On-chain data shows the Bitcoin exchange whale ratio has sharply declined recently, a sign that may prove to be bullish for the price of the crypto. Bitcoin 7-Day MA Exchange Whale Ratio Has Rapidly Gone Down Recently As pointed out by an analyst in a CryptoQuant post, the metric also saw a similar decline during the end of 2018. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top ten transactions going to exchanges, and the total exchange inflows. The ten largest transfers…

Crypto Exchange Coinbase Adds Support for Two Low-Cap Ethereum Altcoins, Sparking Rallies

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Top US crypto exchange Coinbase has given support for two Ethereum (ETH)-based altcoin projects as markets continue to consolidate. In an announcement via Twitter, Coinbase says it will be adding support for Aragon (ANT) and Rocket Pool (RPL) on the Ethereum network on December 8th when sufficient liquidity levels are achieved. With a market cap of $91 million, Aragon aims to be a framework for building decentralized autonomous organizations (DAOs), allowing users to easily construct DAOs on the Ethereum blockchain. Its native token ANT allows users to vote on proposals.…

FTX Execs Offered Taylor Swift $100M to Endorse the Exchange, Source Says Singer Never Considered the Deal – Bitcoin News

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According to a report, the American singer-songwriter Taylor Swift was allegedly courted by FTX to promote the exchange. Sources say the deal was worth more than $100 million and it was reportedly pushed by the FTX executive Claire Watanabe. Award-Winning Singer Taylor Swift Was Allegedly Courted by FTX Executives A report published by the Financial Times (FT) claims that FTX “held talks with Taylor Swift over $100mn sponsorship deal.” Swift is a famous American singer with a number of platinum-certified albums under her wing. Reportedly, the alleged Swift and FTX…

Zodia Custody launches service to protect users’ crypto from exchange insolvency

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Crypto asset provider Zodia Custody has launched a new service to help protect its clients from exchange insolvency.  According to the company, its new service, Interchange, will provide an alternative to the pre-funding and margin models of exchanges. The service is set to allow users to keep their assets with Zodia Custody while mirroring holdings in exchanges, thereby protecting clients’ digital assets in the event that an exchange becomes insolvent.  Based in London, Zodia Custody is backed by financial institutions Standard Chartered and Northern Trust. Introducing our new service: Zodia…