Tag: FTX

Singapore-based Investor Temasek Gets Involved With Troubled Crypto Exchange FTX

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Claire Huang, a business writer for The Straits Times (TST), reported that a Temasek Holdings spokesperson had been speaking with FTX as of Nov. 9, 2022. Founded in 1974, Singapore’s state-owned holding firm Temasek’s assets under management (AUM) are expected to be valued around S$403 billion as of 2022. The spokesperson told Huang that they are “aware of the developments between FTX and Binance, and are engaging FTX in (their) capacity as a shareholder.” The news comes after Binance CEO Changpeng “CZ” Zhao publicly stated that his business would purchase FTX, with details…

Ledger hardware wallets hit by the FTX earthquake, CTO says

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Hardware-based cryptocurrency wallet provider Ledger has experienced some issues due to massive outflows from crypto exchanges amid the FTX bloodbath, according to its chief technology officer. Ledger saw a “massive usage” of their platforms and suffered a “few scalability challenges” on Nov. 9, Ledger CTO Charles Guillemet reported in a statement on Twitter. Guillemet reasoned Ledger’s issues by the outcomes of the ongoing crisis of a major global cryptocurrency exchange, FTX. The CTO said that crypto investors have been increasingly offloading their holdings from crypto exchanges to Ledger, stating: “​​​​After…

Ether, Solana Trade at Premium on FTX – Here is (Probably) Why

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Grayscale Bitcoin Trust records a 41% discount amid FTX meltdown

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Following the FTX bank run, which accelerated by Nov. 7, Bitcoin (BTC) price started to buckle and, at the time of writing, lost 21% in five days. Among the victims of the swift market meltdown is the world’s largest institutional Bitcoin fund, the Grayscale Bitcoin Trust (GBTC).  On Nov. 9, the GBTC closed at a record discount of 41%, with a price per share standing at $8.76. Overall, the GBTC has been gradually declining for almost a year since its peak position of $51.47 per share on Nov. 12, 2021. A structural…

Bitcoin Plunges To $15,700 As Binance Rejects FTX Takeover

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 BTC’s price loses its $18,200 support as the price trades to a region of $15,700 as Binance rejects FTX takeover.   BTC’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.  BTC’s price remains weak across all timeframes as the price trades slightly below the 50 and 200 Exponential Moving Averages (EMA). In the last two days, the crypto market has been erratic, with the price of many altcoins, including Bitcoin (BTC), battling for survival after the news came out that…