AAX, a cryptocurrency exchange located in Hong Kong, has denied reports that its recent suspension of withdrawals on the platform is related to the continuing repercussions of FTX’s collapse. On November 13, members of the cryptocurrency community stated they saw a “System upgrade notification” that indicated an update was “taking
Famous Bitcoin maximalist El Salvador President, Nayib Bukele, showed up on Twitter to solidly express the cruciality of Bitcoin amid the ongoing chaos in the crypto market. He penned down that the bankrupted crypto exchange FTX is unlike Bitcoin. FTX’s non-transparency and unfair handling of users’ funds triggered him to
Following the major cryptocurrency exchange FTX’s insolvency, another centralized crypto exchange Crypto.com revealed that unknowingly it had transferred 320,000 ETH, or about $400 million at the time, to a public address that is registered at a rival exchange. According to Etherscan, the block explorer, Crypto.com sent funds equivalent to about
The collapse of one of the leading crypto exchanges, FTX, is the current trending news in the global cryptocurrency market. On Friday, FTX filed for bankruptcy amid facing an $8 billion liquidity shortage and a lack of resources. Reportedly, Sam Bankman-Fried, the CEO of the exchange platform has also stepped
Prior to Sunday’s last race of the season in Brazil, the Mercedes Formula One team announced on Friday that they had discontinued a collaboration deal with insolvent cryptocurrency exchange FTX. Although the F1 team had said that they are keeping a careful eye on the situation with the trading platform,
As the tale of his defunct cryptocurrency exchange played out in near real-time on Twitter, FTX founder Sam Bankman-Fried refuted reports that he had fled to Argentina. On November 12, Bankman-Fried (SBF) texted Reuters to confirm that he was still in The Bahamas. He told Reuters, “Nope,” when asked directly
In response to Mario Nawfal’s tweets, Kraken Exchange’s Chief Security Officer Nick Percoco tweeted that the Kraken team has identified the individual responsible for the FTX hacking. Since the hacker dumped the stolen money on the Kraken exchange, the Kraken staff was able to identify him with the help of
Due to the current hectic crisis of FTX crypto exchange, the whole crypto market is witnessing a crunch for over a week. As there are many issues bubbling up each day, one among them is from Binance. So, world largest crypto exchange, Binance paused accepting the deposits of FTX native
On November 10th, Genesis Trading said that its parent firm, Digital Currency Group, will inject an additional $140 million in equity funding into the business. To “strengthen its balance sheet” and “position itself as a worldwide leader in crypto capital markets,” the business said it made this choice. The financial
Celsius reported being exposed to FTX. On November 11, the business tweeted that it has FTX contracts locked up for 3.5 million SRM ($1.3 million). It also disclosed that the FTT token was collateral for $13 million in loans to Alameda Research that were not adequately backed. Celsius also said
