Amid growing concerns over centralized cryptocurrency exchanges in the wake of the FTX crisis, investors are increasingly moving to hardware crypto wallets. A major hardware wallet provider, Trezor, has recorded a major uptick in wallet sales in the aftermath of the FTX contagion, the firm’s brand ambassador Josef Tetek told Cointelegraph on Nov. 15. Trezor
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The collapse of cryptocurrency exchange FTX has put industry peers under the microscope with calls for transparent accounts of token holdings and assets under management. Major cryptocurrency exchanges like Binance, Huobi, OKX and Crypto.com have made efforts to share details of their assets and portfolios to assuage the wider space. This comes after investor confidence
A study from Technavio, a market research firm, has predicted that the area of the metaverse dedicated to entertainment, including virtual concerts, video games, and movies, will grow to $28.92 billion in value from 2021 to 2026. The report states that 33% of this growth will originate in U.S. markets, due to the intersection of
Last week was tough — the alarming series of crypto meltdowns continued with the failure of FTX, one of the biggest exchanges on the market. The crypto industry’s very own “Lehman Brothers moment” pushed regulators to react. United States Senator Cynthia Lummis, famous for her openly pro-crypto position, promised deliberate with her colleagues on whether
Bitcoin (BTC) sellers are nursing their largest overall losses since March 2020, one on-chain metric suggests. Data from on-chain analytics firm Glassnode confirms that Bitcoin’s spent output profit ratio (SOPR) has now fallen to two-year lows. BTC on-chain losses mount As Bitcoin holders attempt to pull funds from exchanges into noncustodial wallets, those moving coins
In the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission, U.S. district court judge Analisa Torres has granted several motions to file amicus briefs. As a document made public yesterday shows, the court granted the motions filed by the Blockchain Association, John E. Deaton (representing 75,000 XRP investors), six XRP holders,
According to a report stemming from the blockchain analytics firm Argus, Sam Bankman-Fried’s trading firm Alameda Research obtained tokens ahead of FTX.com listings. The report claims that Alameda acquired roughly $60 million worth of tokens before the digital assets were scheduled to be listed on FTX. Blockchain Analytics Firm Says Alameda Had an Insider’s Edge
Huobi, the Seychelles-based crypto exchange, recently became the latest digital asset exchange platform to reveal the number as well as the value of its digital assets held in reserves. Huobi has said disclosing the assets held in reserves helps to boost users’ confidence in the exchange as well as to improve transparency. Huobi’s ‘Inexhaustive Overview’
Visa has reportedly terminated its global agreements with collapsed cryptocurrency exchange FTX and its U.S. arm, FTX US. The payments giant added that FTX’s “U.S. debit card program is being wound down by their issuer.” Visa Ends Agreements With FTX Visa Inc., the world’s leading payments processor, reportedly said Sunday that it has ended global
Tesla CEO and Twitter chief Elon Musk has made bullish statements about bitcoin and dogecoin despite crypto market sell-offs. He said bitcoin “will make it” and “DOGE to the moon.” Amid crypto winter and the chaos surrounding bankrupt crypto exchange FTX, Musk believes there is a future for bitcoin, ethereum, and dogecoin. Elon Musk Thinks
Charities accepting crypto donations are setting themselves up for an entirely new demographic of funders — who just so happen to be one of the most giving, according to charity organizations. Alex Wilson, the co-founder of The Giving Block, a crypto donation platform providing back-end support to charities, told Cointelegraph that the crypto community is
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has investments in FTX. Following the collapse of the crypto exchange, he said it’s a turning point for the industry, emphasizing that the “crypto bottom is in.” He is now pushing for crypto regulation. “What I’m going to be doing is I’m going to fly to Washington
United States President Joe Biden announced he would be nominating Federal Deposit Insurance Corporation (FDIC) Acting Chair Martin Gruenberg to assume the position as part of a five-year term. In a Nov. 14 announcement, President Biden said he intended to nominate Gruenberg, who has previously served as acting FDIC chair from 2005 to 2006, 2011
On-chain data from Glassnode show Bitcoin’s (BTC) movements hit a new record for the largest net decline in aggregate BTC balances on exchanges, reducing by 72,900 BTC in one week. A similar movement occurred in April 2020, November 2020 and June 2022, with the current outflow leaving around 2.25 million BTC on exchanges. Exchange exodus
The Caribbean nation of St. Kitts and Nevis may declare Bitcoin Cash (BCH) legal tender by March 2023. Prime Minister Terrance Drew made that announcement while he spoke at the Bitcoin Cash 2022 conference in St. Kitts on Nov. 12. St. Kitts and Nevis is a member of the Eastern Caribbean Central Bank and part of
Turkey’s Financial Crimes Investigation Agency is the latest authority to announce investigations into crypto exchange FTX after its collapse and bankruptcy filing on Nov.11. Along with FTX, the agency will look into people and institutions related to the platform — including banks, electronic money institutions and crypto-asset providers — according to an official statement from
After Kevin Zhou, the co-founder of the hedge fund Galois Capital, revealed half of the firm’s assets were held on FTX, another crypto asset management firm called Ikigai detailed that “a large majority of the hedge fund’s total assets” were stored on FTX. Ikigai chief investment officer, Travis Kling, told the public on Twitter and
Inflows into cryptocurrency investment products rose sharply last week as institutional investors bought the dip amid the marketwide collapse triggered by FTX’s and Alameda Research’s bankruptcies. Digital asset investment products saw inflows totaling $42 million in the week ending Nov. 13, the largest increase in 14 weeks, according to CoinShares data. Bitcoin (BTC) investment products
Authorities in South Korea have reportedly requested Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, to appear as part of an investigation into the collapse of the firm. According to a Nov. 14 report from Hankyoreh, the Seoul Southern District Prosecutor’s Office’s Joint Financial and Securities Crime Investigation Team announced that Shin should
According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after “direction from U.S. federal law enforcement.” Paxos Complies With U.S. Law Enforcement Request to Freeze 11,184 PAXG Paxos updated