Following the collapse of FTX and worries about market contagion, Grayscale Bitcoin Trust (GBTC) shares are trading at a record discount of 42.69% to the value of the underlying asset. 74 Percent Price Drop As of press time, GBTC shares…
Bahamian SEC Ordered FTX to Send Digital Assets to Its Wallet
On November 18, the Bahamas’ Securities Commission made public its directive to FTX to transfer digital assets under its management to the Commission’s wallet on November 12. The regulator stated that the directive was required to protect the interests of…
Ripple Announces Machine Learning For ODL In Preparation For Significant Growth
Ripple Swell conference came to an end on Nov 17, and CEO Brad Garlinghouse announced significant advancements for the adoption of RippleNet and On-Demand Liquidity (ODL). The development of Central Bank Digital Currencies was one of the conference’s key areas…
Tom Brady And Other Celebrities Face Class Action Lawsuit For “Promoting” FTX
A class action lawsuit has been brought by FTX investors against the platform’s founder and former CEO as well as a number of well-known figures who supported it. The class action, which was filed on Tuesday evening in Miami, asserts…
El Salvador Begins Dollar Cost Averaging On Bitcoin Despite the Crypto Winter
El Salvador, the first country in the world to accept Bitcoin as legal cash in September 2021, is restarting its BTC purchases after pausing for several months due to the market’s bearishness. The Bitcoin Hoarding Begins El Salvador’s president Nayib…
Singapore State Firm Announces Biggest FTX-Related Loss As SBF Remains At Large
Singapore State Investment Firm to Lose $275 Million The much-publicized FTX collapse painted a clear picture of what a financial contagion looks like. This is after several interlinked companies in the crypto space also went down with liquidity issues as…
FBI In Pursuit Of Sam Bankman-Fried As FTX Debacle Heats Up
FTX founder Sam Bankman-Fried may be extradited to the United States for questioning, according to reports from three persons with knowledge of the situation, according to Bloomberg News on Tuesday. Fears over the future of the cryptocurrency business have been…
Gemini Earn Affected As Genesis Crypto Lending Unit Halts Withdrawals
Following the collapse of FTX, the lending division of cryptocurrency investment bank Genesis Global Trading has temporarily stopped accepting redemptions and initiating new loans, Interim CEO Derar Islim informed customers in a call on Wednesday. According to the company’s website,…
FTX Hacker Identified As One Of The Largest ETH Holders
The hacker who used an exploit to steal money from the now-defunct FTX has been revealed as the 35th-largest Ethereum owner, holding a total of 228,523 ETH valued at $284.82 million. The FTX Attack According to well-known cryptocurrency security company…
Ripple Gets Big Boost As Court Grants All Amicus Brief Requests
As anticipated, US District Court Judge Analisa Torres has approved the petitions of Ripple partners to submit amicus papers in favor of the defendant’s motion for summary judgment. All Briefs Will Submittable Judge Analisa Torres allowed petitions from all 16…