Cryptocurrency

Cryptocurrency
US Congressman Feels Vindicated In Historical Anti-crypto Stance, Claims FTX Paid to Deter Legislation

In a statement following the FTX fall, anti-crypto Congressman Brad Sherman said that FTX had supported Democrats in their efforts to influence crypto rules and that he was right to call for the SEC to take action against unregistered exchanges…

Cryptocurrency
Binance to Bailout Strong but Struggling Crypto Projects With Launch Of “Recovery Fund”

Changpeng “CZ” Zhao, the CEO of Binance, announced on November 14 that the exchange would establish an industry recovery fund to aid solid enterprises facing a liquidity problem. CZ made the remarks in light of the current bear market liquidity…

Cryptocurrency
FTX Collapse Triggers Massive Run On Exchanges Pushing Bitcoin to Self-Custody Wallets

According to data reviewed by CryptoSlate, after the FTX collapse, investors are shifting significant quantities of Bitcoin (BTC) to their self-custody wallets and leaving Ethereum (ETH) to invest in stablecoins. BTC Rushes to Self Custody The amount of very liquid,…

Cryptocurrency
SEC Chairman Calls For Investor Protection Amid FTX Debacle, As Skepticism Rises

Gary Gensler, the chairman of the SEC, spoke about the current market crisis brought on by the FTX disaster in an interview with CNBC’s Squawk Box. Gensler, who has been promoting more regulation and pursuing several crypto businesses for fraud…

Crypto Exchange
FTX Seeks $9.4B Bailout As Tron Explodes With News Of A Potential Takeover

Despite being criticized heavily by Kraken CEO Jesse Powell, FTX’s Sam Bankman-Fried has reached out to Kraken for a possible bailout.  This is after a collapse in talks that FTX was having with Binance about a possible takeover.  The most…

Cryptocurrency
Kraken’s Jesse Powell Says FTX Crash Could Set Industry Back 3 Years

Jesse Powell, the founder and chairman of the cryptocurrency exchange Kraken, reacted to the FTX crash on Twitter and suggested that the crypto community needed to stop being so trusting and strengthen its standards. In a 14-Tweet thread, Powell appeals…

Cryptocurrency
Binance Pulls Out Of FTX Deal, Leaving Exchange On the Precipice, and Investors Gutted

Sam Bankman-Fried’s crypto empire is in danger of collapsing as a result of Binance’s decision to abandon its acquisition of FTX, the business announced on Wednesday. The decision to reverse course was made just one day after Binance CEO Changpeng…

Bitcoin
Crypto Industry Delivers Greatest One-Day Collapse In Billionaire History

The CEO of crypto powerhouse FTX lost $16 billion of his personal wealth as his business ran out of cash and had to rely on a rival to save it. After accepting a bailout from competitor Changpeng Zhao’s Binance, Sam…

Crypto Exchange
Tether And Circle Distance Themselves From FTX, Alameda

Tether and Circle, the companies behind the two most popular stablecoins, have distanced themselves from the FTX debacle and have claimed they have no connection to either Alameda Research or the faltering cryptocurrency exchange. Tether CTO Addresses FTX Fallout Responding…

Cryptocurrency
Panic Among Investors After FTX StableCoin Reserves Plunge

Some people are warning that funds on FTX could be at risk. The concerns in the cryptocurrency community that FTX might cause another crash like Terra have been raised as a result of the rapid fall in stablecoin reserves on the…