Bitcoin (BTC) has been trading near $16,500 since Nov. 23, recovering from a dip to $15,500 as investors feared the imminent insolvency of Genesis Global, a cryptocurrency lending and trending company. Genesis stated on Nov. 16 that it would “temporarily suspend redemptions and new loan originations in the lending business.” After causing initial mayhem in
Crypto firm Matrixport Technologies is reportedly seeking $100 million in funding, according to people familiar with the matter. Sources detailed that the company already secured commitments from investors for roughly $50 million, which would give Matrixport a post-valuation of $1.5 billion. Matrixport Looks to Raise $100 Million From Strategic Investors The digital asset firm and
press release PRESS RELEASE. According to the official news, the Rugby League World Cup 2021 (RLWC 2021) drew to a successful close on November 19, 2022. Over the last month or so, this peak event presented global rugby fans with many brilliant moments. Meanwhile, CoinEx, the Exclusive Cryptocurrency Trading Platform Partner of RLWC 2021, also
Despite the market downturn and the widespread negative sentiment in the industry in the wake of the FTX collapse, on-chain data still show reasons to be bullish on Bitcoin. As pointed out by on-chain analyst Will Clemente, it’s enough to look at the long-term holders’s Bitcoin positions: they reached an all-time high despite their profitability
On Nov. 25, the largest cryptocurrency exchange in terms of daily trade volume, Binance, published its bitcoin proof-of-reserves (POR) system using The Merkle approach. At the time of writing, the snapshot provided by Binance shows the firm’s onchain reserves equate to 582,485 bitcoin, while the company’s customer net balance is roughly 575,742 bitcoin. Binance’s Bitcoin
Xrp rallied to a three-week high on Friday, breaking out of a long-term resistance level in the process. The token rose to its highest level since early November, as prices surged for a fifth straight session. Dogecoin also hit a multi-week high, rising by nearly 10% today. XRP, formerly known as ripple, rose for a
FTX’s collapse dealt a major blow to the already fragile sentiment among cryptocurrency investors. Although a quick recovery is unlikely, Blockchain analysis firm Chainalysis said that the crypto universe could emerge stronger from this crisis. Chainalysis’ research lead Eric Jardine arrived at the conclusion after comparing FTX’s fall to that of Mt. Gox. Another calming
The crypto market is often referred to as the Wild West of the finance world. However, the events that have unfolded within this space recently would put to shame even the hardiest of cowboys from the day of yore. As a quick refresher, on Nov. 8, FTX, the second-largest cryptocurrency exchange in the world till
Crypto users have been complaining about a recent Consensys privacy policy update that says when Infura is leveraged as a remote procedure call (RPC) via Metamask, wallet and IP address data is collected. The news follows a similar decision the decentralized exchange (dex) platform Uniswap recently made concerning data collection. The dex platform’s operator, Uniswap
Two weeks after Binance initially pledged to develop a proof-of-reserve (PoR) mechanism in response to the FTX liquidity and bankruptcy fiasco, it published its official response. In an announcement on the Binance website, the exchange outlined how users can use the mechanism to verify its holdings. Currently, the only token available to verify through the Merkle Tree-based
Assets belonging to former FTX CEO Sam Bankman-Fried have been seized by the country’s Financial Crimes Investigation Board, locally known as MASAK, following the collapse of his main business. An official announcement from Turkey’s MASAK outlined preliminary findings and actions taken against Bankman-Fried following bankruptcy proceedings of its core business. MASAK began investigations on Nov.
Bitcoin was marginally lower on Nov. 25, as markets returned to action following the U.S. Thanksgiving holiday. Overall, cryptocurrency markets were mostly in consolidation in today’s session, with the global market cap up 0.12% as of writing. Ethereum was also largely unchanged, with the token hovering below $1,200. Bitcoin Bitcoin (BTC) was mostly unchanged on
Smaller wallet addresses in the Bitcoin (BTC) ecosystem continue accumulating BTC despite market turmoil. The number of known addresses on the Bitcoin blockchain that hold 1 BTC or more has hit a new all-time high. According to blockchain analytics company Glassnode, the number of wallets holding at least 1 BTC or more reached 950,000. Bitcoin
The bankruptcy proceedings of cryptocurrency exchange FTX have revealed many new aspects of its unethical practices. The latest revelation around its stake in one of the smallest United States banks from rural Washington has raised fresh concerns about its operations and alleged misuse of banking loopholes. Farmington State Bank in Washington State, now renamed Moonstone,
press release Bitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has joined the Chainlink BUILD program to help accelerate the adoption of VERSE ecosystem dApps and receive increased technical support for Chainlink’s time-tested Web3 services—which include verifiable randomness, decentralized price data, and reliable
Binance has committed $1 billion to a crypto industry recovery initiative to restore confidence following the collapse of crypto exchange FTX. Several other crypto companies have joined Binance’s efforts and committed capital for the recovery fund. Crypto Industry Recovery Initiative Launched Cryptocurrency exchange Binance unveiled Thursday some details of its Industry Recovery Initiative (IRI), which
Bitcoin (BTC) may follow stocks on a “massive bull run” as the weekly chart delivers a unique sign of strength. The latest analysis from several well-known crypto names suggests it is time to give up the bear market narrative. Despite everyone talking about a new macro BTC price low, possibly at $12,000, new perspectives demand
The downfall of FTX has also left its mark on the Ethereum (ETH) price. Over the last 30 days, Ether has recorded a drop of around 20%. At press time, the price was at $1,171, just above the crucial support level of $1,100. In the short term, the ETH price has found support at $1,171. However,
The Digital Asset Exchange Joint Consultative Body (DAXA), the South Korean association of crypto exchanges, announced on Nov. 24 that the WEMIX token would be delisted. In justifying the decision to delist WEMIX, the association claimed the information provided by the token’s issuer Wemade is false and has confused investors. Discrepancy Between WEMIX Circulating Supply
Matrixport, the cryptocurrency firm founded by Bitmain co-founder Wu Jihan, is in the process of raising $100 million in funding despite the ongoing crypto market crisis. Lead investors have already committed $50 million for Matrixport’s new funding round at a $1.5 billion valuation, Bloomberg reported on Nov. 25. The deal has yet to be finalized