Crypto industry veteran Bobby Lee says that bad actors ignorant of regulation have to be expunged from the market. In a new interview with Bloomberg Markets Asia on Yahoo Finance, Lee, co-founder of Hong Kong-based crypto exchange BTCC, reveals what price he expects Bitcoin (BTC) to bottom out at the end of the bear market. …
Monthly archives: November 2022
Over $643,000,000 in Solana (SOL) Now Controlled by Liquidators as Part of Alameda Research Bankrutpcy Process: On-Chain Data
A platform dedicated to tracking Solana’s key on-chain metrics says hundreds of millions of dollars worth of SOL are now in the hands of Alameda Research liquidators. Solana Compass reveals that Sam Bankman-Fried’s bankrupt trading firm Alameda Research previously controlled 48,636,772 SOL tokens worth over $643 million at time of writing. With Solana down nearly …
GK8 increases insurance cap on digital assets to $1B
Digital asset custody platform GK8 has partnered with USI Insurance Services to expand its insurance policy for institutional customers — a move the company said would incentivize banks and other financial institutions to start investing in cryptocurrency. The insurance policy offers up to $1 billion of coverage per client for digital assets stored in GK8’s …
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Bitcoin’s bottom might be below $15.5K, but data shows some traders turning bullish
Bitcoin (BTC) bears have been in control since Nov. 11, subduing BTC price below $17,000 on every 12-hour candle. On Nov. 28, a drop to $16,000 shattered bulls’ hope that the 7% gains between Nov. 21 and Nov. 24 were enough to mark a cycle low at $15,500. The most likely culprit was an unexpected …
Compound Finance to impose lending caps in light of failed Aave exploit
On Nov. 28, users of decentralized finance, or DeFi, lending platform Compound Finance passed a proposal to impose restrictions on the maximum borrowing of 10 tokens on the protocol. The proposal was put forth by financial modeling firm Gauntlet and passed with a majority “Yes,” although total turnout amounted to less than 7% of the …
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Controlling shareholders’ stakes in GBTC are ‘highly illiquid’: Report
According to a new Twitter post by Ryan Selkis, CEO of blockchain research firm Messari, Grayscale Bitcoin Trust’s (GBTC) controlling shareholders Genesis Global and Digital Currency Group cannot simply “dump” their holdings to raise more capital. Selkis explained that the restrictions are due to Rule 144A of the U.S. Securities Act of 1933, which forces …
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4 Best Cryptos to Buy Now, November 28: STX, CELO, TAMA and IMPT
The FTX disaster did not only cause the market to crash even more; it also highlighted the urgent need for a cutting-edge, innovative platform that […] Go to Source
“I’m Still Bullish on Bitcoin”, says Robert Kiyosaki—Crypto Cannot Be Held Responsible for FTX Collapse
Robert Kiyosaki, the well-known author of the best-selling book Rich Dad Poor Dad, continues to be bullish on bitcoin despite the failure of cryptocurrency exchange […] Go to Source
Binance Makes Multi-Billion Dollar Transfers Following FTX’s Collapse
Binance has made transfers worth several billion dollars since the downfall of FTX. Many of these transactions are associated with proof of reserves demonstrations undertaken by centralized exchanges. A recent transaction of $2 billion caught the attention of on-chain whale watchers. Changpeng Zhao has stated that the transaction was to prove ownership of the wallet. …
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Here’s Why Dogecoin Price May Pump to $0.15 – But Calvaria Is a More Profitable Alternative
Doge is entering the week trading down as its price continues to suffer due to the market downturn. However, recent events indicate that the most […] Go to Source
Elon Musk’s Twitter Takeover Will Bring 200,000,000 More Users to Crypto, Says Cardano Creator Charles Hoskinson
Cardano (ADA) creator Charles Hoskinson says that tech mogul Elon Musk has the ability to onboard 200 million more people to crypto with his recent purchase of social media giant Twitter. Speaking at the Web Summit 2022 conference, Hoskinson says that Cardano and three other Ethereum (ETH) competitors are battling it out to be the …
FTX logos and promotional material still everywhere despite bankruptcy proceedings
Before its liquidity issues and bankruptcy filing in November, FTX was well known for its prolific stance on making sponsorship deals. Even with many in and out of the space now associating the exchange with failed financial institutions, traces of the promotional glitter bomb it has unleashed on the world aren’t likely to go away …
Crypto fund investment still dominated by the United States: Database
Despite venture capital funding halving in October, there seem to be funds that still remain bullish on this space investing in emerging markets, Web3 and infrastructure. But, most people do not know who these mysterious funds are or what they are made of, or if there is a project starting up, how to get in …
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Game7 allocates $100M in open-source technology grants for Web 3.0 gaming companies
On November 28, blockchain gaming accelerator Game7 announced that it would allocate $100 million in open-source technology grants to upcoming Web 3.0 startups. As told by the Game7, distributions will support individuals and entities building blockchain games, smart contracts, core software infrastructures, and community tooling. The grants will be paid in USD Coin (USDC). What’s …
BlockFi files for bankruptcy, cites FTX collapse for its troubles
BlockFi announced on Nov. 28 that it had filed for Chapter 11 bankruptcy. The filing in the United States Bankruptcy Court for the District of New Jersey pertains to the company and its eight subsidiaries. The move comes after several days of speculation on the company’s financial health after the collapse of FTX. According to …
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