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Since May 2022, the Bitcoin (BTC) margin markets on the Bitfinex exchange have been plagued by an unusually high open interest of over $2.7 billion. This information alone should raise a red flag, especially in light of Bitcoin's price decline from $39,000 to less than $25,000 during the same period.Traders
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Last week’s ETHDenver conference highlighted a disturbing trend in the crypto industry. While not unique to blockchain, the trend of not using the products our industry creates is something that the crypto community needs to grapple with. In more mature industries, this “dogfooding” is enforced. Microsoft employees must use Outlook,
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Paxos "violated its obligation to conduct tailored, periodic risk assessments and due diligence refreshes of Binance and Paxos-issued BUSD customers to prevent bad actors from using the platform," a spokesman with the regulator told Reuters, saying the token wasn’t being administered in a “safe and sound” manner. Source
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Former FTX CEO Sam Bankman-Fried has largely denied the allegations against him in a ‘pre-mortem overview’ of the crypto exchange’s insolvency.In a Jan. 12 post on Substack, Bankman-Fried — differentiating between companies under the FTX umbrella — claimed FTX US had been “fully solvent” at the time the firm filed
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With the FTX exchange being highlighted all over the world of finance, trust in the crypto space seems to dwindle. However, Pantera Capital CEO Dan Morehead believes that there are two areas in crypto that truly work. According to the executive, narratives that question blockchain and call it a failure because
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On the day following the implementation by the US Federal Reserve of the 50-basis point hike, Solana (SOL) saw accumulation rather than a sell-off, despite the altcoin’s 4% decline. Prices for Bitcoin and Ethereum and other cryptocurrencies fell on December 14 as reports surfaced that the central bank raised its interest
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Bitcoin (BTC) is too “decentralized and transparent” for former FTX CEO Sam Bankman-Fried, says Cathie Wood.In a tweet on Dec. 10, Wood, who is CEO of investment giant ARK Invest, delivered a fresh damning appraisal of the FTX saga.Wood: SBF "couldn't control" BitcoinAs the legal ramifications of FTX and Bankman-Fried,
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In a highly anticipated interview at Wednesday’s Dealbook Summit, Sam Bankman-Fried expressed regret over his exchange's collapse, but clung to the narrative that it was all just a bet gone wrong. Source
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On Nov. 11, 2022, FTX Trading Ltd. filed a voluntary petition for Chapter 11 bankruptcy protection in Delaware. The news followed a few days of speculation and evidence that had shown the digital currency exchange was likely insolvent. The company’s bankruptcy filing and information concerning Sam Bankman-Fried’s (SBF) quantitative cryptocurrency
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Notably, the first half of the year brought the most drastic phase of crypto winter ever witnessed in the history of cryptocurrency.
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