Bitcoin plunged to a two-year low on Wednesday, as the FTX token sell-off continued to weigh on cryptocurrency markets. After an initial 30% slide, FTX token fell by as much as 80%, as Binance confirmed its intention to absorb the failing exchange. Ethereum was also lower, dropping below $1,200. Bitcoin Bitcoin (BTC) fell to its
Solana (SOL) is on the track to log its worst daily performance on record. On Nov. 9, SOL’s price dropped more than 40% to around $16 primarily due to its association with Sam Bankman-Fried, the founder of crypto-focused hedge fund Alameda Research and cryptocurrency exchange FTX. Sam tokens get ‘fried’ Fried was an early investor
Despite crypto markets being on a downturn, members of the community have expressed their undying faith that Bitcoin (BTC) and crypto are here to stay. Even with the FTX and Alameda Research debacle highlighting issues within the crypto market, a community member urged others not to be stressed. The Twitter user argued that the crisis
Convinced that cryptocurrencies are affecting the tasks performed by monetary authorities around the world, the Dutch central bank has urged for comprehensive international regulations. The call comes after research into the development of crypto assets and policy responses. ‘Proper Regulation Indispensable for Risky Cryptos,’ Dutch Central Bank Insists Bitcoin, tether, and other digital coins are
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
As the liquidity crisis and acquisition of cryptocurrency exchange FTX continues, Binance CEO Changpeng “CZ” Zhao assured his community of insurance of sufficient funds backing the network. In a tweet on Nov. 9, CZ said that the exchange has once again topped its Secure Asset Fund for Users (SAFU) at $1 billion equivalent in light
As the Plenary vote for the landmark Pan-European crypto legislation, Markets in Crypto Assets (MiCA), has been rescheduled from the end of 2022 to February 2023, Stefan Berger believes that to be a matter of technical necessity. Responding to Cointelegraph’s request for more info, Berger, a member of the European Parliament responsible for procedural handling
press release PRESS RELEASE. Hong Kong, 9th Nov 2022 – Bitget, the leading global crypto exchange with a core focus on social trading, launches another innovative social trading feature, Strategy Plaza. The new feature provides users with the option to follow a series of automated trading strategies and allows the system to automatically execute the
Hong Kong’s Securities and Futures Commission (SFC) is “actively looking” to create a regulatory framework that allows crypto futures exchange-traded funds (ETFs), an SFC official reportedly said. “We have come to believe that some initial concerns about virtual asset futures ETFs have become manageable and can be addressed with proper safeguards.” Rising Demand for Crypto
The feud between the CEOs of crypto exchanges FTX and Binance — Sam Bankman-Fried (SBF) and Changpeng “CZ” Zhao — not only crashed cryptocurrency prices but also reminded regulators to step in and avoid similar fallouts in the future. Ever since CZ publicly announced Binance’s intent to liquidate its FTX Token (FTT) holdings, investors anticipating
Sam Bankman-Fried, founder and CEO of the troubled cryptocurrency exchange FTX, appears to have retracted his words about the safety of client holdings on FTX. Bankman-Fried has deleted a Twitter thread where he tried to assure customers that FTX and the assets on the platform were “fine.” FTX CEO took to Twitter to post the
Satoshi Nakamoto developed the first decentralized cryptocurrency called Bitcoin (BTC) and referred to it as “a peer-to-peer electronic cash system.” As per Bitcoin’s white paper, online payments could be made directly from one party to another without going through a banking institution with a peer-to-peer version of electronic cash. That said, other than using Bitcoin
The Central Bank of Russia is proposing to introduce tax incentives for long-term holders of digital financial assets. The idea has been circulated with a consultation paper published for public discussions on the development of the digital asset market in the Russian Federation. Bank of Russia Talks Regulation in New Report Devoted to Digital Assets
Abu Dhabi-based fintech, Pyypl, announced on Nov. 7 that it had raised $20 million in Series B funding and this brought the total of funds raised to nearly $40 million. Pyypl has said it plans to use the recently raised funds to develop and add new features to its proprietary technology. The company further wants
Bitcoin (BTC) liquidated $200 million of long positions on Nov. 8 as BTC price briefly tumbled to two-year lows. BTC price sets new two-year low Data from Cointelegraph Markets Pro and TradingView revealed carnage across crypto price charts as exchange FTX kept the mood low. After initially rebounding over $20,000 on news that the embattled FTX
A new blockchain and cryptocurrency-focused association has been launched within Abu Dhabi’s free economic zone that aims to further the development of blockchain and crypto ecosystems across the Middle Eastern, North Africa, and Asian regions. The Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA) was officially launched on Nov. 8 in the Abu
press release PRESS RELEASE. Gofaizen & Sherle is a legal and business consulting firm specializing in digital asset-based businesses, financial institutions and investment funds. Having been founded in September 2021, the company has successfully gained a portfolio of hundreds of different projects for numerous clients all over the world. Now, Gofaizen & Sherle is introducing
MUFG, the biggest bank in Japan, is projecting to offer financial services through the metaverse in 2023. The financial giant has partnered with ANA Holdings, a holdings consortium focused on air transportation companies, to be part of ANA’s Granwhale metaverse, and explore the possibility of selling financial products on this platform next year. MUFG Prepares
Bitcoin (BTC) mining company Marathon Digital Holdings is now understood to be the second-largest holder of Bitcoin in the world among publicly-listed companies. During the company’s third-quarter earnings call on Nov. 8, Marathon Digital CEO Fred Thiel revealed the company now holds 11,300 Bitcoin — worth around $205 million — “making Marathon the second largest
Amid the market carnage on Tuesday, Nov. 8, the top ten cryptocurrency exchanges have seen trade volumes soar. During the 24-hour period on Tuesday, the top five exchanges alone recorded more than $60 billion in trade volume. Out of the top ten crypto exchanges by trade volume, exchanges saw increases between 126% to 305% during