Cryptocurrency Analysis and News Portal
In the space of one week, FTX had gone from being the second-largest crypto exchange by trading volume to being bankrupt. This swift move from being ‘okay’ to being in ‘hot water’ has shown just how uncertain things can be in the crypto market. Since it happened, there has been
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FTX’’s failure to keep its sister company Alameda Research solvent was likely attributed to the liquidity crunch brought on by the Terra-LUNA collapse in May, according to blockchain analytics company Nansen.See related article: Singapore’s Temasek writes off US$275 mln in FTXFast facts“Piecing together the pieces from our on-chain investigation, it
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According to Julian Hosp, co-founder of the decentralized finance entity Defi Chain, the fall of the crypto exchange FTX and the domino effect it has had may have rekindled interest in decentralized finance (defi) and associated products. Hosp, however, conceded that the crypto exchange’s dramatic collapse also encourages regulators to
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Former FTX CEO Sam Bankman-Fried will no longer be represented by his legal counsel at Paul, Weiss, Rifkind, Wharton & Garrison, a white-shoe law firm, less than a week after retaining the firm to represent him. Original Source
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With investor confidence in cryptocurrencies ebbing as a result of the collapse of Sam Bankman-Fried’s FTX exchange, the total market capitalization of digital assets has fallen this month below $800 billion, a level not seen since early 2021, according to data from TradingView. Original Source
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“Someone like Coinbase is simply not large enough to gain the faith and trust of very large asset managers and traders who are looking to be active in the space,” Marenzi said, adding that institutional investors, worried about whether their funds are securely stowed away, could be “scared away” for
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Warren and Durbin, both longtime, outspoken crypto skeptics, said the collapse of FTX – which, until recently, had a $32 billion valuation and was largely perceived as one of the most stable exchanges in the industry – “justify our long-standing concerns that the crypto industry ‘is built to favor scammers’
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Eight, a cryptocurrency consultancy founded by Michaël van de Poppe in 2018, has uncovered the best altcoins that can benefit from FTX’s demise. According to analysts, recent events are promoting a narrative that is strongly associated with decentralization. Following the FTX news, leading hardware wallet manufacturer Trezor and Ledger reported skyrocketing
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While the FTX collapse may have had a severe effect on the broader crypto market, some companies bore the brunt of the impact and were directly hit by the storm that the embattled crypto exchange brought. Here are some of the affected companies that Cointelegraph tracked up to Nov. 17, 2022.
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Trading firm Wintermute tweeted Nov. 9 that it had reduced its exposure to FTX after the insolvency concerns started. During the withdrawal pause, some of its funds were stuck, but the amount was “within our risk tolerances and does not have a significant impact on our overall financial position,” Wintermute
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