The company said it has minimal exposure to struggling crypto exchange FTX, with just $15 million on deposit there to facilitate business operations and customer trades. Coinbase further said it has no exposure to FTX’s token FTT – which has plunged about 80% today – and no exposure to FTX sister company Alameda Research. Source
BNB, an exchange token used within the Binance trading environment, jumped 20%, leading a broad rebound in crypto markets that had been in freefall over acute speculation that the rival FTX exchange might be facing a rapid run on deposits. Source
FTX Token (FTT) and Solana’s SOL (SOL) endured a tough weekend of trading that saw altcoins take double-digit losses in the 15%–30% range, but the tide turned as news broke that Binance could be in the process of acquiring FTX. On Nov. 8, FTX CEO Sam Bankman-Fried first took to Twitter to announce a liquidity-sharing partnership with Binance. Changpeng “CZ” Zhao, CEO of Binance, agreed to step in and provide liquidity to what was beginning to look like a bank run. Bankman-Fried billed the development as user-focused and benefiting the…
Desde ese momento, en el mercado se ha despertado la preocupación por la liquidez de FTX. El exchange ha enfrentado un éxodo masivo de stablecoins, con US$451 millones enviados fuera de su plataforma principal durante la última semana y US$15 millones retirados de su sucursal estadounidense, según datos de Nansen. En este momento el balance de FTX está compuesto por US$59,2 millones en USDC, US$28,5 millones en USDT y US$8,6 millones en BUSD. Mientras tanto, FTX US tiene disponibles US$41 millones en USDC, US$12,8 millones en USDT, US$39 millones en…
After the Bitdao token’s quickfire plunge on Nov. 7, members of the Bitdao community have asked Alameda Research to address rumors the principal trading platform has dumped Bitdao’s BIT tokens. The dump, if confirmed, would be a breach of a swap agreement between the two entities which prohibits the offloading of each other’s tokens before Nov. 2, 2024. Alameda Research Has 24 Hours to Address Dump Allegations Following the BIT token’s sudden plunge — from nearly $0.38 to $0.31 between 11:00 and 11:05 p.m. EST on Nov. 7 — the…
FTT is the largest collateral backing MIM, accounting for 33% of the total locked in Abracadabra’s “cauldrons.” Source
Options market tied to bitcoin and ether shows renewed bias for puts, perhaps a sign of investor fears that the FTX-Alameda drama may bring another market-wide crash. Source
FTT was down nearly 12% in the last hour and over 20% during the last 24 hours. Source
A United States District Court ruled in favor of the Securities and Exchange Commission (SEC) Nov. 7 in its case against blockchain-based file-sharing and payment network LBRY. The court granted the SEC’s request for a summary judgment filed May 5. The SEC sued developer LBRY, Inc. in March 2021 — after the agency had brought similar charges against Ripple — claiming that its LBRY Credit token (LBC) was sold as a security under the 1933 Securities Act. According to the SEC, LBRY raised more than $11 million in U.S. dollars,…
According to a new post by blockchain security firm SlowMist on Nov. 7, it appears that the last week’s token exploit affecting GameFi project Gala Games resulted from a public leak of applicable security keys on GitHub. As told by SlowMist, pNetwork, the cross-chain interoperability bridge used by Gala Games on the BNB Smart Chain, had three privileged roles in its smart contract pGALA. “The Admin role is used to manage upgrades and changes to the Admin address of the proxy contract. The DEFAULT_ADMIN_ROLE role is used to manage various privileged…