Amy Wu’s resignation followed the news 134 companies associated with the FTX Group would be filing for bankruptcy under Chapter 11 in the United States. Amy Wu, an investor in FTX and the head of the firm’s venture capital arm, FTX Ventures, has reportedly resigned her position. According to a Nov. 11 report from The...Continue Reading

FTX and Alameda’s Ponzi-like trading scheme has dealt a heavy blow to the entire crypto industry. Here are three developments to keep a close eye on. Up until the start of this week, Bitcoin (BTC) had been demonstrating record-low volatility, and this gave altcoins enough latitude to paint some nice technical setups.  At the same...Continue Reading

The proposed change would prevent certain coins that have fallen in value recently from being used as collateral. The MakerDAO Risk Core Unit, a key group within the MakerDAO governance system, submitted an urgent request today to change collateral parameters for the DAOs stablecoin, DAI. Primoz, a member of the Risk Core Unit team, posted...Continue Reading

The DeFi market faced the heat of the FTX turmoil as well with the majority of tokens and projects registering a blood bath over the past week. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The second...Continue Reading

Sam Bankman-Fried no longer qualifies for a listing on the Bloomberg Billionaires Index, while Elon Musk’s reported net worth has dropped by more than $86 billion in recent days. In a matter of weeks, two major players in the tech industry have seen their net worth drop by billions of dollars — partly the result...Continue Reading

The crypto market managed an 11% bounce from the Nov. 9 low, but a handful of metrics show a severe lack of investor confidence. The total cryptocurrency market capitalization dropped by 24% between Nov. 8 and Nov. 10, reaching a $770 billion low. However, after the initial panic was subdued and forced future contracts liquidations...Continue Reading

Cointelegraph is a member of the network of organizations committed to using blockchain technology for climate action. The Climate Chain Coalition (CCC), a network of organizations dedicated to leveraging blockchain technology for effective climate action that includes Cointelegraph as a member, delivered its stock take report on Nov. 11 at the 27th United Nations Climate...Continue Reading

The collapse of Sam Bankman-Fried’s crypto empire is likely to have repercussions beyond the crypto markets, according to Mike McGlone, senior commodity strategist at Bloomberg. The repercussions of the cataclysmic FTX downfall are going to be broader than the crypto markets, as they will accelerate downward moves in stocks and commodity markets, according to Mike...Continue Reading

Bitcoin, altcoins and crypto-linked stocks correct sharply after FTX officially files for bankruptcy with BTC price slipping below its June lows again. Bitcoin (BTC), Ether (ETH) and cryptocurrency-linked stocks like MicroStrategy are seeing a sharp downturn after news broke that FTX announced filing for Chapter 11 bankruptcy and Sam Bankman-Fried stepping down as CEO.  Bitcoin,...Continue Reading

FTX Europe was one of roughly 130 companies in FTX Group which will be a part of bankruptcy proceedings in the United States. The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States that the regulator requested the exchange halt operations...Continue Reading