World’s one of the most prominent cryptocurrency exchanges FTX CEO Sam Bankman-Fried’s total net worth fell by nearly 94% to $991.5 million in a single day. Also, he has disappeared from the Bloomberg Billionaires Index. Prior to FTX financial crisis, SBF’s personal wealth was estimated to be $15.2 billion, as
The CEO of Binance, Changpeng “CZ” Zhao, announced that his exchange would soon launch a Proof-of-Reserves audit mechanism to enable verification of its holdings of digital assets in the wake of the liquidity issue and the acquisition of cryptocurrency exchange FTX. All crypto exchanges should do merkle-tree proof-of-reserves. Banks run
The tech sector’s most recent tussle is the massive layoffs in every other company. An increase in the inflation rate has pushed the firms to the corner of reducing the workforce count. The Kobeissi Letter, the leading commentator on the global capital market produced a summarization of the layoff percentages
In his short time as CEO, Elon Musk has already made an impact. In addition, a leading media outlet has recently reported that during Elon Musk’s first week as CEO of Twitter, user growth reached a record high. As Elon Musk, co-founder of Tesla has acquired control of Twitter, one
Bitcoin (BTC) miner Iris Energy reports it has received a default notice from mining equipment maker Bitmain Technologies, according to a new filing with the United States Securities and Exchange Commission (SEC) on Monday. The notification said that some principal payments due on November 8 were not subject to “good
The news was confirmed by Ripple’s development team, who advised XRP holders to treat themselves to NFTs on the XRP Ledger. The XRP Ledger was the first blockchain to allow asset tokenization. Whether fungible or non-fungible, the XRP Ledger’s built-in tokenization capability and built-in decentralized exchange (DEX) are perfect for
Volatility has returned to the crypto markets. Coinglass reports that in the last 24 hours, $3.15 billion worth of Bitcoin (BTC) has been sent to exchanges, that is 152,000 Bitcoins. Now, it’s typically not a positive indicator when cryptocurrency is transferred from wallets to exchanges. This opens the door for
As the digital asset market continues to grapple with the scandal surrounding trading firm Alameda Research’s balance sheet, traders in Asia rose to a market that was partially in the red. As a result of a public dispute between Binance CEO Changpeng CZ Zhao and Alameda CEO Caroline Ellison over
Meta Platforms, Inc. (META), the parent company of Facebook, is planning for “massive layoffs”. According to a recent report from The Wall Street Journal, Meta is expected to begin large-scale layoffs this week due to increased costs and a recent decline in its stock price. The action from the platform
Binance CEO Changpeng Zhao also known as CZ announced his decision to sell all FTT tokens. FTT is a native currency of the most prominent crypto exchange FTX. Binance is world’s largest cryptocurrency exchange by daily trading volume and it holds around 23 million FTX tokens, valued at about $517
