The Agriculture Committee announced the hearing the same day it published a defense of the Digital Commodities Consumer Protection Act, a bill supported by Bankman-Fried. Industry participants have expressed concern over whether the bill might harm decentralized finance (DeFi) projects, while the committee said Monday that regulated entities under the FTX umbrella were able to weather the exchange’s collapse. Source
Blockchain data from Etherscan shows that a crypto account associated with the FTX exploiter moved a total of 180,000 ether (ETH) – worth roughly $200 million at current prices – to twelve crypto wallets Monday, with each wallet receiving 15,000 ETH over a period of minutes. Source 200MCryptoEtherExploiterFTXTransfersWallets CryptoX Portal
Massive selling pressure from the crypto exchange FTX hacker hit Ethereum; the bad actor has been dumping the cryptocurrency during the weekend. This “dumping,” selling an asset in the market, is creating panic in the crypto market. The hacker stole over 200,000 from the trading venue. As of this writing, Ethereum is trading in the red. The second cryptocurrency by market cap is priced at $1,120 with a 5% and 9% loss in short and higher timeframes. ETH’s price is recording adverse price action and much more downside pressure than…
Blockchain data from Etherscan shows that a crypto account associated with the FTX exploiter moved a total of 180,000 ether (ETH) – worth roughly $200 million at current prices – to 12 crypto wallets Monday, with each wallet receiving 15,000 ETH over a period of minutes. Source
“I hate to say I told you so” is a phrase oft-repeated but rarely sincere. It’s a delightful feeling to claim credit for warning about a problem in advance. That’s a liberty I’m taking with federal financial regulators at the United States Securities and Exchange Commission. In January of this year, while serving as a member of the SEC Investor Advisory Committee that advises SEC Chairman Gary Gensler on crypto and other matters, I filed a petition with the SEC. I asked them to open a formal public comment about…
The rapid implosion of FTX has led general investors and crypto believers alike to question the validity of crypto and, indeed, predict its end. But, an understanding of history points not to crypto’s demise but rather a move toward new technology and growth. Financial markets move, as Willie Nelson once said, in phases and stages, circles and cycles. Companies develop ideas, grow quickly, ignite unwarranted investor euphoria and then implode — only to seed the ground for the next company, the next idea and the next growth phase. Crypto is…
Just before the FTX collapse, bitcoin was trading above the $20K zone and after the problems started to show and the company filed for bankruptcy, bitcoin’s price dropped close to 19% lower than it was days before the fiasco. According to the official Bitcoin Obituaries list, the sliding crypto prices added another two bitcoin obituaries to the list of so-called bitcoin deaths over the years. 2 More Notice of Death Calls Added to the Bitcoin Obituaries List Following FTX’s Demise It’s safe to say that the FTX collapse brought cryptocurrency…
Serum, a “decentralized exchange” on the Solana blockchain, has performed exceptionally well in terms of its SRM token price, despite it ties to the defunct FTX exchange. SRM price up 140% in one week On the daily chart, the SRM/USD pair has gained 140% in the last seven days, hitting $0.319 on Nov. 21 versus $0.177 on Nov. 14. This pushed the circulating market cap to about $73 million and “fully diluted market cap,” the market cap if the maximum supply was in circulation, to nearly $2.8 billion. SRM/USD daily price…
The collapse of FTX has sent shockwaves through the cryptocurrency industry. The price of bitcoin and other major digital coins have fallen sharply as problems at FTX emerged. Jakub Porzycki | Nurphoto | Getty Images Embattled cryptocurrency exchange FTX owes its creditors north of $3 billion, according to a new filing over the weekend. A list of FTX’s top 50 unsecured creditors, which excludes their names and other identifiable information, shows that the largest of them all is owed more than $226 million. The second-biggest unsecured creditor is claiming over…
With the FTX crypto exchange’s collapse, many events erupted in the crypto space. As a result, more of FTX’s investors and partners record massive losses with no potential recovery system. FTX filed for bankruptcy last week, but shocking revelations are now creeping out following its bankruptcy filing. A deeper examination of the crypto exchange disclosed that FTX operations have more than the eye could see with many coatings. FTX Inappropriate Governance Structures An examination of the FTX’s 30-page filing report indicates that the crypto exchange has inappropriate governance structures. A…