Tag: FTX

Solana Gains 5% Despite CPI Latest Data And FTX Liquidation Approval

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Solana (SOL) has recorded a 5% gain in the last 24 hours amidst certain concerning developments in the crypto space. On Wednesday, the United States published its Consumer Price Index (CPI) data for August, which shows that inflation rose from 3.2% to 3.7%, higher than the predicted outcome by analysts. In addition, the bankrupt FTX exchange obtained court approval to liquidate its crypto holdings worth $3.4 billion as it looks to offset its debt. Normally, developments such as this are expected to induce a selling pressure on crypto assets.  However, the…

Bitcoin ignores CPI, FTX as BTC price hits September high near $26.6K

Bitcoin (BTC) hit new September highs after the Sep. 14 daily close as markets digested macroeconomic and crypto industry news. BTC/USD 1-hour chart. Source: TradingView Trader: Bitcoin market “feels different” Data from Cointelegraph Markets Pro and TradingView tracked overnight BTC price highs of $26,535 on Bitstamp. The largest cryptocurrency had shaken off higher-than-expected United States Consumer Price Index (CPI) the day prior, maintaining $26,000. Subsequent confirmation that defunct exchange FTX had received legal permission to liquidate its remaining assets likewise failed to dent Bitcoin’s comparatively solid intraday performance. At the…

Court approves sale of FTX digital assets

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The Delaware bankruptcy court has approved the sale of FTX digital assets. Judge John Dorsey made the ruling at a hearing on Sept. 13. Major changes were made to the order authorizing the sale on the previous day. FTX will be allowed to sell digital assets excluding Bitcoin (BTC), Ether (ETH) and “certain insider-affiliated tokens” in weekly batches through an investment adviser under pre-established guidelines. There will be limits of $50 million for the first week and $100 million in subsequent weeks. There will be an option to increase the…

FTX Secures Court Approval to Sell Crypto Holdings, Including BTC and SOL

FTX submitted a filing requesting permission to engage in these activities in August, arguing that hedging its crypto assets would “allow the Debtors [FTX] to limit potential downside risk prior to the sale of such bitcoin or ether,” while “staking certain digital assets … will inure to the benefit of the estates – and, ultimately, creditors – by generating low risk returns on their otherwise idle digital assets,” according to the filing by FTX’s lawyers. Source

New BitMEX market lets users predict fate of former FTX CEO and Bitcoin ETF

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BitMEX launches its “Prediction Markets”, allowing traders to forecast outcomes of significant events, including the FTX recovery rate and potential SEC approval of spot Bitcoin ETFs. Major crypto derivatives exchange BitMex has expanded its products to include a new offering called Prediction Markets, where traders can predict the possible outcome of real-world events ranging from crypto to traditional finance and make returns from their predictions. BitMEX announced that its new cryptocurrency derivatives product opened for trading on the platform on Sept. 13. Three initial prediction contracts, focusing on subjects currently…

FTX Modifies Bitcoin And Crypto Sale Proposal Last Minute

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In a recent court filing, FTX, the crypto exchange currently navigating bankruptcy, has made last-minute adjustments to its proposal concerning the sale of its Bitcoin and crypto holdings. This move is seen as an attempt to address concerns raised by the US Trustee, the bankruptcy branch of the Department of Justice. FTX’s initial proposal, which is set to be reviewed in a Delaware Bankruptcy Court today, September 13, aimed to liquidate $3.4 billion in Bitcoin and other crypto assets. The market had been rife with concerns about the potential impact…

Bullish and Tribe Capital Among Suitors Vying for Bankrupt FTX Exchange

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FTX Group, which sought bankruptcy protection in November, is actively engaging in due diligence and sharing information with various parties to explore the possibility of an “acquisition, merger, recapitalization, or other transaction” to reestablish the company, It said in a presentation submitted to a Delaware court. In addition to Bullish, Tribe Capital has also submitted its bid. Notably, Tribe Capital was part of FTX’s venture portfolio before the exchange’s collapse and subsequent bankruptcy at the close of last year, media reports said. According to details presented in court, the exchange’s…