Being three weeks removed from the FTX collapse, Bitcoin (BTC) analysts are combing through data to decipher whether more selling will continue or if a bear market floor has been reached. One thing miners, short-term and long-term holders have in common is they are losing in the Bitcoin market right now. According to on-chain analysis …
Monthly archives: November 2022
Meta fined €265M for allowing scrapers to steal Facebook’s centralized user data
The Irish Data Protection Commission (DPC) announced on Nov. 28 that it has fined Facebook developer Meta €265m for breach of the European Union’s General Data Protection Regulation (GDPR). Specifically, the commission stated that it had fined Meta for failing to design Facebook in such a way that it would protect users from data breaches. …
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Qatar 2022 Could Take Crypto Sports Betting into the Big Leagues
It seems you can scarcely open a crypto website without seeing two or three articles about the pros and cons of using crypto to gamble online. Yet, although it is a far more widespread form of online gambling, especially in the USA, far less is written about crypto sports betting. That could change forever over …
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Taking a deep dive on how the Bitcoin fundamentals look on-chain as the dust settles from the FTX fallout
Price drawdown from ATH compared to previous bear markets Bitcoin is currently down 75% from its all-time high (ATH), with a max drawdown of 76.9% from the fallout of FTX on Nov. 9th. However, this is not unusual in Bitcoin’s history. During the 2014-15 bear market, Bitcoin retracted over 85% from its ATH, and lasted …
CryptoSlate Wrapped Daily: More Bitcoin leaves Coinbase; Kraken CEO deems Binance’s proof of reserves ‘pointless’
The biggest news in the cryptoverse for Nov. 28 includes Kraken CEO saying Binance Proof-of-Reserve is pointless without proof of liabilities, Coinbase losing Bitcoin worth $2 billion over the weekend, and BlockFi filing for Chapter 11 bankruptcy. CryptoSlate Top Stories Another $2B worth of Bitcoin withdrawn from Coinbase over weekend According to Glassnode, crypto exchanges …
VP of AAX speaks out against handling of company bankruptcy decision
JP Morgan believes regulation will lead to convergence of crypto, TradFi JP Morgan said regulation is coming to crypto following the FTX collapse and highlighted the importance of self-custody, asset security, and customer protection. 12 hours ago · 3 min read Go to Source
Kiln acquires €17M via funding round; aims to expand staking services
Kiln, a leading staking products provider, has acquired €17 million through a financing round. The prominent firm, through the funds, intends to enhance its market outreach to broad users, as revealed in a press release shared with CryptoSlate. Notable firms that contributed to the financing round included Consensys, Kraken Ventures, GSR, Leadblock partners, Sparkle Ventures …
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Research: Binance led 2017 ‘dumb money’ Bitcoin investment; FTX leads 2022 cycle
The average withdrawal price on Bitfinex has remained low and stable since 2017, suggesting that the exchange has a more sophisticated user base. Cover art/illustration via CryptoSlate Bitcoin (BTC) withdrawal patterns on centralized exchanges have changed significantly over the past five years. CryptoSlate analysis of Glassnode data on BTC’s average withdrawal price on top exchanges …
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Bitcoin records biggest negative hash rate adjustment in a year
Bitcoin is struggling to break above $16K, but there are increased signs of unsustainability with the Hash Ribbon confirming miner capitulation will continue. Cover art/illustration via CryptoSlate The Hash Ribbon, an indicator for determining miner capitulation based on when the market reaches a bottom, ended on Aug. 18 after 2 months of dwindling miner participation. …
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Singapore requires banks to hold $125 for every $100 Bitcoin exposure
Glassnode and CryptoSlate Deep Dive: How a cold winter is impacting Bitcoin miners and why the fear has just begun – Issue 01 The current state of Bitcoin Miners is extremely stressful as coin prices declined, and credit has contracted, while mining input energy costs have also been on the rise. 🤝 Brought to you …
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Kevin O’Leary Reveals How He Almost Secured $8 Billion to Rescue FTX Before It Collapsed
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has shared how he and Sam Bankman-Fried (SBF) almost raised $8 billion from institutional investors to save crypto exchange FTX before it collapsed. However, when reports emerged of FTX being investigated by several authorities, including the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission …
Amid Civil Unrest in China, Gold and Silver Prices Hold Steady — Equity, Crypto Markets Flounder
Reports on Monday detail that the zero-Covid policy protests in China have lowered market sentiment as U.S. equity markets show the top four Wall Street indexes are struggling. The global crypto market cap is down 3.5% and getting awfully close to dropping below the $800 billion mark. Precious metal prices, on the other hand, like …
Crypto Lender Blockfi Files for Bankruptcy Protection to ‘Maximize Value for All Clients’
On Nov. 28, 2022, the crypto lender Blockfi informed the public via a press release that the company has voluntarily petitioned for Chapter 11 bankruptcy protection. Blockfi is now one of many digital currency businesses dealing with significant financial hardships and bankruptcy proceedings in 2022. Blockfi Voluntarily Petitions for Chapter 11 Bankruptcy Protection Blockfi has …
On-Chain Analyst Willy Woo Says Bitcoin Getting Close to ‘Max Pain’ Levels – Here’s How Low BTC Could Go
Popular on-chain analyst Willy Woo has a “max pain” model for Bitcoin that suggests a floor price for BTC at the bottom of its bear market. Woo tells his one million Twitter followers that he’s estimating a Bitcoin bottom by looking at where BTC’s price would be if 58% to 61% of all coins would …
Binance CEO Changpeng Zhao Makes Prediction on Crypto Regulation: Report
Binance CEO Changpeng Zhao reportedly says the world’s governments should regulate the digital asset industry instead of opposing it. Reuters reports that during a speech at a Binance event in Athens, Greece, the chief executive of the largest crypto exchange by volume says that authorities should embrace the industry now that they know it’s becoming …
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