DeFi ecosystems try to live up to crypto’s decentralized ethos, but single-token governance protocols could prove a challenge. Decentralization is part of the cryptocurrency industry’s core, with various protocols trying over time to achieve the level of decentralization that Bitcoin (BTC) managed to get as it grew organically from a white paper published to a...Continue Reading

According to the FTX CEO, Alameda Research was also “winding down trading” but United States-based exchange FTX US “was not financially impacted” by recent events. In one of his first public statements since rumors and concerns about FTX’s insolvency flooded the crypto market, CEO Sam Bankman-Fried, or SBF, has said: “I’m sorry.” In a Nov....Continue Reading

Days after CZ took to Twitter to announce a new proof-of-reserve system for Binance users, the site went live with public details of its wallet addresses and on-chain activity. In light of the FTX liquidity crisis and the almost-acquisition by Binance, Binance CEO Changpeng “CZ” Zhao assured his community that his network would provide full...Continue Reading

A report from Reuters claimed that FTX used some of its customer deposits to support Alameda Research. While information leaks and unconfirmed reports can be a way for the truth to reach the public, they can also be a tool that fans the flames to grow even further in an already burnt-out crypto market.  In...Continue Reading

Tether follows TRON’s USDD stablecoin in coming unstuck amid suspicions of shorting involving FTX and Alameda Research. Bitcoin (BTC) and crypto markets saw fresh volatility on Nov. 10 after stablecoin Tether (USDT) unpegged from the U.S. dollar. USDT/USD 1-day candle chart (Binance U.S.). Source: TradingView Tether exec: “No issues” with USDT Data from Cointelegraph Markets...Continue Reading

Some Ledger users weren’t able to process withdrawals using Ledger Live on Wednesday, according to social media reports. Hardware-based cryptocurrency wallet provider Ledger has experienced some issues due to massive outflows from crypto exchanges amid the FTX bloodbath, according to its chief technology officer. Ledger saw a “massive usage” of their platforms and suffered a...Continue Reading

The U.S. regulators are currently investigating FTX.US, Coinbase and Binance in the wake of the collapse of the FTX global crypto exchange. Coinbase CEO Brian Armstrong was not delighted with the news about the United States regulators looking into FTX.US along with Coinbase and Binance.US in the wake of the FTX crisis. Armstrong said that...Continue Reading

On Nov. 9, the GBTC closed at a record discount of 41% with a one-share price standing at $8.76. Following the FTX bank run, which accelerated by Nov. 7, Bitcoin (BTC) price started to buckle and, at the time of writing, lost 21% in five days. Among the victims of the swift market meltdown is...Continue Reading

Wallets associated with Sam Bankman-Fried’s Alameda Research could be behind the dollar de-peg, alleges Tron’s founder. In April 2022, the Tron network launched USDD, a token pegged to the U.S. dollar, as an “over-collateralized stablecoin,” meaning its likelihood of slipping below $1 should be lower due to excessive reserves backing its valuation. USDD stablecoin slips below...Continue Reading

Miners face an impossible situation if prices stay this low, which could result in a sell-off accompanied by a BTC price macro low. Bitcoin (BTC) miners could form the next BTC price “trigger,” research warns as withdrawals intensify. In a Quicktake post for on-chain analytics platform CryptoQuant on Nov. 10, contributor MAC.D suggested that miners could...Continue Reading