Sam Bankman-Fried wrote FTX employees a letter to break down why the crypto exchange crashed

Summary: Bankman-Fried apologized again to FTX employees and threw more light on why the cryptocurrency exchange failed. The letter released on Tuesday suggested that SBF regrets filing for bankruptcy earlier in November. Also, the FTX founder believes saving the crypto exchange is not impossible. Another letter from Sam Bankman-Fried to FTX employees gave further insight …

Analyst Predicts Aftermath for Solana, Serum, Sushi and FTT Following Downfall of FTX and Sam Bankman-Fried

A popular crypto analyst is laying out his predictions for Solana (SOL) and a handful of other altcoins after this month’s digital asset market fallout. The pseudonymous trader Altcoin Psycho tells his 10,700 YouTube subscribers that if Bitcoin’s (BTC) price stays stable, SOL could jump up to $17 before breaking back down again. Overall, he …

Ethereum Whales Accumulate $1,000,000,000 Worth of ETH in Just One Day: Analytics Firm Santiment

The largest Ethereum (ETH) whale addresses are scooping up ETH at a rapid rate, according to the crypto analytics firm Santiment. The firm notes that whale addresses holding between $10.9 million to $1.09 billion worth of Ethereum gobbled up $1.03 billion worth of ETH in just one day. The activity represents the fifth-largest single-day add by …

Crypto awakening: Researcher explains ETH exodus from exchanges

Blockchain analytics carried out by a Nansen researcher has highlighted outflows of Ether (ETH) and stablecoins from centralized exchanges in the wake of FTX’s collapse. Nansen research analyst Sandra Leow posted a thread on Twitter unpacking the current state of Decentralized Finance (DeFi), with a specific focus on the movement of ETH and stablecoins from …

Bukele’s government introduced a bill to launch the ‘Bitcoin bonds’

Amid the crypto market downturn, El Salvador finally makes a decisive step to the realization of its ambitious “Bitcoin bonds” project. The Minister of the Economy Maria Luisa Hayem Brevé introduced  a bill confirming the government’s plan to raise $1 billion and invest them into the construction of a “Bitcoin city.” A 33-page digital securities …

Bitcoin may need $1B more on-chain losses before new BTC price bottom

Bitcoin (BTC) hodlers may need to triple their on-chain losses for BTC price to put in a macro low. According to market research firm Baro Virtual, the 2022 bear market is not yet harsh enough to match historical downtrends. Bitcoin losses “only” total $671 million With analysts predicting a return to $14,000 or lower for …

US Sen. Elizabeth Warren says crypto will ruin economy — Community responds

The downfall of former crypto exchange FTX has had the entire industry in disarray since the situation began to unravel days before it declared bankruptcy on Nov. 11. A new op-ed from United States Senator Elizabeth Warren revealed a negative stance toward the industry with regard to the fallout. Warren wrote that the crypto industry …

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