A group of customers of the recently collapsed crypto exchange FTX, is organizing to take legal action against the company. The suit would be led by Ray Nasser, CEO of Arthur Mining, and will be brought by customers who had more than $100,000 on the exchange by the time of its bankruptcy. Brazilian Customers to
Month: November 2022
The Securities Commission of The Bahamas (SCB) said it had ordered the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet owned by the commission on Nov. 12. In a Nov. 17 statement, the SCB said it exercised its power as a regulator acting under the authority of a Supreme
CME Group’s Bitcoin (BTC) futures have been trading below Bitcoin’s spot price on regular exchanges since Nov. 9, a situation that is technically referred to as backwardation. While it does point to a bearish market structure, there are multiple factors that can cause momentary distortions. Typically, these CME fixed-month contracts trade at a slight premium,
No one can blame Bitcoin (BTC) bulls for placing bets at $20,000 and higher for the $600 million weekly options expiry on Nov. 18. After all, this level had provided a solid resistance since Oct. 25 and held for almost two weeks. However, the base scenario changed abruptly on Nov. 8 after a liquidity crisis
Before we get into the nitty-gritty of how one simple rule created the kind of insane return on investment noted in the headline — during one of the worst Crypto Winters in recent history — let’s be clear on one thing. You can’t copy this now. But anyone with access to Cointelegraph Markets Pro in
United States Senators Elizabeth Warren and Richard Durbin wrote to the former and current CEOs of FTX — Sam Bankman-Fried and John Jay Ray III, respectively — on Nov. 16 to ask for more information on the collapse of the cryptocurrency exchange. They made 13 requests for documents, lists and answers. “The public is owed
The agency overseeing Indonesia’s crypto market has stopped the trading of FTX tokens on domestic platforms. The announcement comes after FTX, the exchange that issued the FTT token, filed for bankruptcy in the United States and was subjected to investigations by regulatory bodies around the world. Indonesian Authority Orders Crypto Exchanges to Discontinue FTX Token
Amid FTX contagion fears and the legal battle with the US Securities and Exchange Commission, Ripple Labs is currently hosting its Swell Global conference in London. Yesterday’s first day featured CEO Brad Garlinghouse (“BG”), among others, speaking about the massive progress made recently. Garlinghouse said on stage that he believes the crypto industry will emerge
Major cryptocurrency exchanges continue to carry out measures in the aftermath of FTX collapse, now halting deposits in Solana-based Tether (USDT) and USD Coin (USDC). Binance announced on Nov. 17 that deposits of Solana-based USDT and USDC have been “temporarily suspended until further notice” on the platform. The exchange referred to the tokens as “USDT (SOL)”
Bitcoin (BTC) has flooded out of exchanges in the past week as users become wary of security and regulatory scrutiny. Data from on-chain monitoring resource Coinglass shows United States exchanges in particular seeing heavy BTC balance reductions. U.S. exchanges lead BTC exodus In the wake of the FTX scandal, efforts to draw attention to the
The Canadian cryptocurrency exchange Bitvo has terminated its expected acquisition agreement with FTX to continue operating independently. Bitvo’s shareholder, Pateno Payments, has discontinued the acquisition deal with FTX Canada and FTX Trading in accordance with the agreement terms, Bitvo announced on Nov. 15. The firm emphasized that its operations have not been affected as Bitvo
Days after Ethereum turns deflationary for the first time since shifting to proof-of-stake (PoS), critics have started to highlight the Ethereum Foundation’s removal of Ether (ETH) staking’s withdrawal schedule on social media. A crypto community member pointed out how Ethereum developers, leaders and influencers mentioned that ETH staking withdrawals might be opened six months after
On Nov. 16, 2022, at Bitcoin block height 763,474, someone transferred 6,522 bitcoin worth roughly $107 million after the coins sat idle for more than five years. While bitcoin’s value is 75% lower than it was a year ago, so-called sleeping bitcoins have been waking up amid the recent crypto market capitulation. While Bitcoin’s Price
Professional esports organization Team SoloMid (TSM) (previously TSM FTX) has suspended its $210 million sponsorship deal with the now-bankrupt FTX crypto exchange “effective immediately” following the cryptocurrency trading platform’s shock collapse last week. The United-States-based esports organization made the announcement in a Nov. 16 tweet to its 2.2 million followers, adding that the decision was made
Bitcoin (BTC) miners may be sending more BTC to exchanges this month — but overall, their sales have crashed since 2020. Data from on-chain analytics platform CryptoQuant confirms that daily miner transfers to exchanges have decreased by two-thirds or more. Miners cool BTC exchange sales after FTX spike After BTC/USD lost 25% in days last
The collapse of FTX cryptocurrency exchange has created a liquidity crisis in the crypto space, which could extend the crypto winter through the end of 2023, according to a research report by Coinbase. According to analysts, the FTX implosion could keep the institutional investors at bay because they are even more likely to tread cautiously
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