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Guggenheim CIO Scott Minerd Warns of a Crypto ‘Washout’ Similar to the Internet Bubble
22.12.2022
Guggenheim Partners CIO Scott Minerd believes there is going to be a crypto washout similar to the internet bubble. “There’s another shoe to drop,” he warned. Nonetheless, the executive is confident that the crypto industry will move forward despite the collapse of crypto...
2022’s Market Review: Crypto Economy Loses $1.4T, Top 10 Token Knockouts, Terra’s Collapse
21.12.2022
2022 is coming to an end and during the last 12 months, the crypto economy has lost roughly $1.486 trillion in value against the U.S. dollar. On Dec. 20, 2021, bitcoin was trading for $46,406 and it has lost more than 63% in value year-to-date, while the second leading crypto asset ethereum shed...
Pantera CEO on the FTX collapse: Blockchain didn’t fail
21.12.2022
Pantera Capital CEO Dan Morehead argued that the FTX collapse has nothing to do with the promise of blockchain technology
US Lawmaker Suggests ‘Maybe’ Crypto Should Be Banned Citing Bigger Issues Than FTX
21.12.2022
A U.S. senator has suggested that cryptocurrency should “maybe” be banned following the collapse of crypto exchange FTX. However, he acknowledged that banning crypto “is very difficult because it will go offshore and who knows how that will work.” Senator Sherrod Brown...
Ethereum bounces above $1.2K, but derivatives metrics show traders fear a collapse
20.12.2022
Demand for leverage buying remains absent in ETH despite the recent bounce to $1,200 as the U.S. Federal Reserve continues to hike interest rates
Crypto Trading Firm Auros, Hit by FTX Collapse, Discloses Provisional Liquidation
20.12.2022
The move, granted by a British Virgin Islands court in November, allows officials to seek restructuring advice. Auros missed payments on $17.7 million of loans from lending pools on bad debt-ridden protocol Maple Finance
FTT Breaks $1 Support for the First Time Since FTX Collapsed, Token Struggles With Dwindling Trade Volume
20.12.2022
Despite FTX’s collapse last month, the trading platform’s crypto token FTT had managed to not plummet all the way down to zero, and surprisingly it hovered below the $2 per unit region after Nov. 12, 2022. For 38 days FTT remained above the $1 per unit area up until Dec. 19, as the token suddenly...
Bank Holdups and Protests Continue to Rise in Lebanon as Depositors Demand Their Own Savings
20.12.2022
On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and protests at banks in order to access their own savings accounts. Since the economic collapse in 2019, Lebanon’s banks froze Lebanese bank accounts, and a number of branches have remained closed indefinitely....
FTX Collapse Is ‘Golden Opportunity’ for Developers, Says Tezos Co-Founder
19.12.2022
Kathleen Breitman, co-founder of the Luxembourg-based blockchain platform, discusses why the collapse of FTX is a “massive distraction” for the industry but has made it prime time for hiring developers
New FTX CEO Told Members of Congress SBF’s Family ‘Certainly Received Payments’ From the Business
19.12.2022
According to multiple reports, FTX co-founder Sam Bankman-Fried’s parents face scrutiny over their reported involvement with their son’s business operations. The two Stanford professors Joseph Bankman and Barbara Fried have not been charged with any wrongdoing, but the current FTX CEO, John J....
Gemini Forms Creditors Committee With Houlihan Lokey to Resolve Genesis Liquidity Issues
18.12.2022
Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Global Capital owed $900 million to Gemini customers and the publication’s sources noted that the exchange was attempting to recover the funds by creating a creditors committee. 31 days after Gemini paused the Earn...
US Senator: Cryptocurrency Cannot Be Stopped, FTX Collapse Isn’t an Indictment of Crypto
18.12.2022
U.S. Senator Pat Toomey says illegal actions by crypto exchange FTX must be separated “from perfectly lawful and innovative cryptocurrencies.” Emphasizing that “The collapse of FTX is not an indictment of crypto,” he noted that “cryptocurrency cannot be stopped”...
FTX Collapse Has Rekindled Security and Reliability Concerns for Web3 Projects Says Marketing Expert
17.12.2022
The fallout from the collapse of failed crypto exchange FTX is forcing Web3 brands, and projects previously focused on managing the public’s perception, to concentrate on fighting for their very legitimacy, Laura K. Inamedinova, a Web3 marketing expert, has said. Besides just trying...
Solana Struggles to Remain in the Top 20 as Prior Ties to FTX and Alameda Wounded the Project
16.12.2022
Amid the market chaos within the crypto economy and following the climactic FTX collapse, the crypto asset solana has been one of the hardest hit during the last 30 days. Since FTX’s fallout, the digital currency lost 8.5% over the last month against the U.S. dollar and to date, it’s...
Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web
16.12.2022
The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducting a number of POR audits for crypto exchanges like Binance, Crypto.com, and Kucoin following...
$300 Billion Investment Firm Guggenheim Partners Says More Crypto Companies Will Collapse Soon – Here’s Why
16.12.2022
The major investment firm Guggenheim Partners says the crypto industry will see more companies collapse as central banks decisively end the era of “easy money.”...
Read More: $300 Billion Investment Firm Guggenheim Partners Says More Crypto Companies Will Collapse Soon – Here’s Why
Shark Tank Star Kevin O’Leary Slams Binance, Says the Exchange Caused FTX to Collapse on Purpose
15.12.2022
Well-known Shark Tank investor Kevin O’Leary slammed Binance in comments given during a Senate hearing on Wednesday, saying a “war” between FTX and Binance ultimately caused FTX’s collapse.
During the hearing, Kevin O’Leary said Binance and FTX were “at war with each other and one put the other...
Time for Serious Global Crypto Regulation, Germany Says
15.12.2022
Germany’s financial watchdog has issued a call for global regulation of the crypto industry in the aftermath of the FTX collapse. The hands-off approach was wrong, the head of the agency says, insisting it’s time to protect consumers as the sector expands links with traditional finance. Bafin...
Realized losses from FTX collapse peaked at $9B, far below earlier crises
15.12.2022
Weekly-realized losses peaked at $20.5 billion when Terra Luna (LUNC) imploded and reached $33 billion when 3AC and Celsius collapsed, according to Chainalysis
Amid Withdrawals, Binance CEO Warns of Bumpy Months Ahead
15.12.2022
Binance founder Changpeng Zhao (CZ) has reportedly told staff to expect some difficult months as the leading cryptocurrency exchange is seeing customer withdrawals. The warning comes while the crypto industry is facing challenges after high-profile bankruptcies and amid tightening regulations....