FTX ex-exec floats ‘cool token’ idea amid warning rebound may take years

Bitcoin (BTC) and cryptocurrency may “take years to recover” from the FTX scandal, one industry analyst warns. In a Twitter thread on Nov. 11, Filbfilb, co-founder of trading suite DecenTrader, said that the Terra debacle was itself still playing out. Filbfilb: “I’ve never seen such a debacle” The crypto industry is experiencing “a clear case of what goes up must come down,” Filbfilb summarized. As the fallout from FTX and Alameda Research only begins to become apparent, many industry businesses and associated tokens have been left reduced to a shadow of…

Cosmos Blockchain Founder Kwon Says He Is Against Proposed Changes to ATOM Token

“In an ecosystem with one of the most advanced systems of governance like Cosmos, changes affecting the development of the Cosmos Hub and placing its security and dependability at risk, as well as radical changes to its monetary policy, must be thoroughly examined from all angles and broken down into individual components to be assessed one by one – not grouped together in an omnibus white paper proposed by a centralized committee,” Kwon said in emailed comments. Source link

OKB Token Still Holds Above 14% Following Market Plummet

Thanks to the FTX/Alameda saga, the crypto market has taken a nosedive, dragging everyone along. But while the entire market bleeds, OKB, the native token of OKX exchange, has held on to substantial weekly gains. Specifically, the token is trading at $18.61, a 14.57% rise in the last seven days.  However, its daily price hasn’t been pretty. As of writing, OKB has lost over 12%, and there’s no hope of recovery anytime soon. The only other crypto that held on to its weekly gain was Polygon’s MATIC. The token kept…

Crypto Exchange BitMEX To Launch New Native Token BMEX This Friday

Cryptocurrency exchange and derivatives platform BitMEX is set to unveil its native token BMEX later this week. BitMEX says that the initial exchange offering (IEO) of the BMEX token will take place on Friday. The token will exclusively be listed on the BitMEX spot exchange before being made available for derivatives trading on the same platform. “On 11 November, 2022, we’re launching the BMEX Token exclusively for trading on BitMEX, affording our users the exclusive opportunity to participate in an IEO from an OG [original] crypto exchange. First up, at…

FTT Fire Sale Sends Token Over 70% Lower, SOL Also Falls Significantly – Market Updates Bitcoin News

FTX Token plunged by over 70% in today’s session, as sentiment surrounding Binance’s potential buyout of FTX continued to raise market eyebrows. Following speculation that FTX could be insolvent, Binance’s Changpeng “CZ” Zhao moved to acquire the firm, pending due diligence. Solana is also significantly lower, due to FTX’s sister company Alameda currently holding large amounts of SOL. FTX Token (FTT) FTX Token (FTT) continued to sink on Wednesday, as the token lost over 70% of its value in today’s session. Following yesterday’s high of $19.51, FTT/USD plunged to an…

Alameda Research FTT token transfer from September fuels wild speculations

The rumors about the possible liquidity crisis for the world’s third-largest crypto exchange turned out to be true. Just a day after assuring funds are fine, and they have the assets to back customer’s funds, FTX CEO Sam Bankman-Fried (SBF) announced on Tuesday that Binance has shown intent to acquire the global crypto platform to help with the liquidity crisis. The liquidity crunch came as a surprise to many, given FTX bailed out numerous firms during the crypto contagion caused by the downfall of LUNA and the insolvency of 3AC.…

FTX Token Falls 80% Despite Binance Bailout as Alameda Contagion Spreads to Bitcoin

Broader crypto markets, which mounted a short-lived recovery after the bailout announcement, quickly lost steam and turned sharply lower. The CoinDesk Market Index (CMI), which tracks 162 cryptocurrencies, fell 8% in the last 24 hours. Bitcoin (BTC), the largest cryptocurrency by market capitalization, tumbled to $17,114 on the Bitstamp exchange, a 23-month low. The BTC price recovered somewhat to $18,400 but was still down 12% on the day. Source