As a result of the crisis surrounding FTX, the cryptocurrency industry has been shaken to its core during the last two weeks. Both traders and organizations have been badly impacted since they have been confronted with monetary and/or operational challenges. As a leading cryptocurrency exchange, Bybit stated that it understands
OKX, a cryptocurrency exchange, has made available a Proof of Reserves page, where customers may verify the sufficiency of the company’s funds. After the demise of FTX, crypto exchanges have been under more monitoring. OKX tweeted and updated its blog about the new page. Users may verify the exchange’s funds
The newest update is that Singaporean authorities are looking into allegations of fraud and deceit against cryptocurrency lender Hodlnaut Pte. The struggling crypto lender’s operations have been strained along with the rest of the market in this crypto winter. With the collapse of the Terra ecosystem earlier this year, Hodlnaut
Kanye West has blamed Adidas for suspending four of his bank accounts, totaling $75 million. And he added that he will meet the former president again in 2024. He stated that his decision was influenced by Adidas reportedly breaking into his bank accounts and locking away all of his money.
In the midst of the turmoil caused by FTX’s insolvency in the cryptocurrency market, Litecoin (LTC) is starting to shine and climbed by over 45% this month, from $54 to $81. The bullish price momentum may be due to an improvement in its supply dynamics. The uptrend comes ahead of
Ark Invest, run by Cathie Wood, has reportedly invested an additional $1.4 million to acquire 176,945 shares of Grayscale’s Bitcoin Trust (GBTC) fund, as reported in an investor email. The company has made its second sizable GBTC acquisition in as many weeks with this transaction. Bloomberg reports that the Florida-based
On Tuesday, a court in the Netherlands extended the prison sentence of Alexey Pertsev, the programmer behind the cryptocurrency mixer Tornado Cash. Reportedly, the court rejected claims that Perstev lacked the authority to manage Tornado Cash. Moreover, prosecutors said that the developer is essential to the crypto mixer’s operation. The
The Federal Open Market Committee (FOMC) members usually release the updated reports of the inflationary scenario in the economy. Further the FOMC meeting held on November 1-2 will be revealed tomorrow with the current insights of the crypto markets. As the entire investor community is awaiting for the release, the
Top officials at the defunct exchange FTX run by Sam Bankman-Fried (SBF), as well as his parents, spent $121 million in Bahamas investment. 19 residences in total were bought over two years, according to the investigation. High-end beachfront properties made up the majority of FTX’s acquisitions. Seven condominiums in Albany’s
After the recent failure of the cryptocurrency exchange FTX, a group of U.S. senators have sent another letter to the financial behemoth Fidelity Investments, urging it not to sell Bitcoin to its clients. The letter was signed by three senators from three different states: Tina Smith of Minnesota, Elizabeth Warren
