Indonesia plans to give its Financial Services Authority (OJK) the power to regulate cryptocurrency investments and market oversight. The country’s Trade Ministry currently polices the digital asset industry in collaboration with the Commodity Futures Trading Regulatory Agency. However, Indonesia’s finance minister, Sri Mulyani Indrawati, said the country would transfer the authority to OJK to...Read More
Investment banking company Jefferies Group’s CEO, Richard “Rich” Handler, took to Twitter to reveal that he unsuccessfully tried to get in touch with FTX CEO Sam Bankman-Fried earlier this year when the latter was offering bailouts to several troubled firms. While sharing his “personal email trail” on “non-meeting with FTX,” Handler revealed several snapshots that...Read More
Former BitMEX CEO Arthur Hayes believes FTX is ultimately headed for bankruptcy now that Binance has refused to rescue the company. The exchange co-founder offered his analysis of what the future holds for FTX on Thursday and offered some predictions for how its crisis will impact the market. FTX Will Go Bankrupt In a Twitter...Read More
The past few days were unnerving as the crypto industry watched the fall of FTX, one of the world’s largest crypto exchanges. With FTX now insolvent, some of the biggest and oldest players in the space have started expressing disappointment at the company’s CEO, Sam Bankman-Fried (SBF), popularly known as crypto’s white knight. Jesse Powell...Read More
Struggling crypto exchange FTX appears to be processing withdrawals again, according to publicly available blockchain data. Data from Etherscan – an explorer for analyzing transactions on the Ethereum blockchain – shows that FTX’s public wallet began executing a swath of outbound transactions beginning at 03:39:11 PM UTC on Thursday. This follows an over 48-hour period...Read More
FTX had reportedly reached out to several other large exchanges, including Coinbase and OKX, but was turned down. Its finances were one of the factors after the reviewal of which, Binance backed out of a planned takeover. While Binance may have averted more scrutiny from regulators in Europe and the United States but the botched...Read More
This year has seen more than its fair share of unexpected market collapses due to surprising news about poorly run cryptocurrency businesses. This week brings yet another massive change. This time its FTX, the fourth-largest cryptocurrency exchange in the world, which until last week was regarded as a ‘mainstay’ of the sector. FTX attempted to...Read More
Tether has become the latest industry company to get involved with the ongoing saga revolving around FTX by freezing over 46 million USDT. The company said it had to comply with law enforcement agencies. All eyes in the crypto industry have been set on FTX for the past several days, ever since Binance decided to...Read More
Sam Bankman-Fried issued an official apology following the collapse of his cryptocurrency exchange. He talked about making customers whole and finding a solution that would be best for all parties involved. FTX’s CEO took it to Twitter earlier on November 10 to shine some light on the current situation with his distressed crypto exchange. At...Read More
[PRESS RELEASE – Seoul, Korea, 9th November 2022] NFT Marketplace, OnePlanet, is presenting its launchpad service to support the Polygon NFT ecosystem. By commencing an NFT launchpad service dedicated to the Polygon ecosystem, OnePlanet now brings new collections to be minted and launched on the Polygon network. Since OnePlanet’s marketplace launch on Polygon this September,...Read More
The announcement came in a call to investors on Nov. 9, just after Binance pulled out of the deal to acquire FTX. SBF said he hoped the beleaguered exchange could raise as much as $3-4 billion in equity. He added that FTX could also raise some debt, according to the WSJ citing people familiar with...Read More
The bloodbath on the crypto streets continues as the short-term bounces are expected to get recked very soon. Despite a small recovery above $16,500, Bitcoin price is still speculated to drop below $15,000 with th next of the capitulation phase, which has just begun. In the meantime, the Maker (MKR) price maintains its strength and...Read More
The past few days saw extreme turbulence related to FTX, Alameda, and Binance. In the wake of it, ending with Binance’s statement of intent to take over FTX’s business, the CEO of both companies has been knocked off of the Bloomberg Billionaires Index due to an estimated 94% drop in personal wealth. $25 Billion Lost...Read More
In its recently released third-quarter earnings report, crypto financial services firm Galaxy Digital revealed that it holds over $76 million worth of exposure to FTX, the mainstream crypto exchange that is now experiencing a liquidity crisis. Per the report, the $76.8 million of exposure is comprised of both cash and digital assets. Within that, $47.5...Read More
One of the leading crypto miners – Marathon Digital Holdings – recorded a net loss of $75.4 million, or $0.65 per share, during the third quarter of the year due to decreased production and the declining price of bitcoin. Still, the company rounded up its total stash to 11,285 BTC. Data shows that only the...Read More
