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As the liquidity crisis and acquisition of cryptocurrency exchange FTX continues, Binance CEO Changpeng “CZ” Zhao assured his community of insurance of sufficient funds backing the network. In a tweet on Nov. 9, CZ said that the exchange has once again topped its Secure Asset Fund for Users (SAFU) at $1
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SAFU is an emergency insurance fund that was established by Binance in July 2018 to protect users' funds. When the fund was established, Binance committed a percentage of trading fees to grow it to a sizable level to safeguard users. The fund's value fluctuates based on the market and SAFU
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Ether (ETH) was in an equally buoyant mood, sprinting past $1,500 at one point, a roughly 10% gain from Monday, same time, and its highest level since Sept. 15. Other major cryptos were also well into the green as investors recovered their appetite for riskier assets. SOL and ADA were
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"Last month, ahead of the inflation data, traders bid weekly calls, pushing the seven-day call-put skew above the positive territory. However, that trade was a huge loser. As such, traders are staying away from such bets this time," Gregoire Magadini, CEO of options analytics platform Genesis Volatility, told CryptoX. Source
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The pound, in particular, fell to an all-time low of $1.035 on Monday as the government's plan to implement the biggest tax cuts in 50 years while boosting government borrowing and spending amid high inflation spooked investors. The Chinese yuan fell to 7 per dollar, the lowest since May 2020,
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ING expects a rate cut in June 2023 followed by further easing in the second half of the year. Source
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Popular comedic writer and actor Bill Murray had his Ethereum wallet hacked for around 110 Wrapped ETH (wETH) worth $172,000 late last week.The auction for the The Bill Murray 1,000 NFT drop was just coming to a close on Thursday Sept. 1, having generated a total of 119.2 wETH worth
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Inc. magazine has named BlockFi the fastest growing company in the United States in 2022. At the top of the magazine’s Inc. 5000 2022 list, it experienced 245,616% growth, a lead of more than 99,000% over the second-place company, a platform for hiring nurses. The median growth rate was 230%
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Bitcoin traded close to $25,000 before it corrected lower against the US Dollar. BTC must stay above the $23,500 support to start another increase. Bitcoin started a fresh increase above the $24,000 resistance zone. The price is now trading above the $23,600 level and the 100 hourly simple moving average. There was a
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The native token of the Ethereum blockchain rose to $1,919, the highest since June 1, extending Monday's rise of nearly 9%, CoinDesk data shows. The ether-bitcoin exchange rate or the ETH/BTC ratio rose to 0.078, a level last seen on Jan. 7, extending the recent bullish breakout. Source
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