Both facing sanctions, Russia and Cuba are looking into alternative options for cross-border payments, including cryptocurrencies, a Kremlin advisor has unveiled in Havana. Moscow is already developing a mechanism for crypto settlements to circumvent financial restrictions imposed over its invasion of Ukraine. Crypto and Ruble Considered for Payments in Trade Between Russia and Cuba The
The Canadian cryptocurrency exchange Bitvo has terminated its expected acquisition agreement with FTX to continue operating independently. Bitvo’s shareholder, Pateno Payments, has discontinued the acquisition deal with FTX Canada and FTX Trading in accordance with the agreement terms, Bitvo announced on Nov. 15. The firm emphasized that its operations have not been affected as Bitvo
Days after Ethereum turns deflationary for the first time since shifting to proof-of-stake (PoS), critics have started to highlight the Ethereum Foundation’s removal of Ether (ETH) staking’s withdrawal schedule on social media. A crypto community member pointed out how Ethereum developers, leaders and influencers mentioned that ETH staking withdrawals might be opened six months after
Singapore’s state-owned investment firm Temasek revealed despite eight months of due diligence in 2021, it didn’t find any significant red flags in FTXs financials before deciding to invest $275 million into the now-bankrupt crypto exchange. Like many of FTX’s more than one million creditors, the Singapore-based firm has been left blindsided by the collapse of
Brian Simms, the court-appointed provisional liquidator overseeing the bankruptcy proceedings of FTX Digital Markets in The Bahamas, has called into question the validity of a Chapter 11 bankruptcy filing by subsidiary FTX Trading and 134 other affiliates in a Delaware court on Nov. 14. In the Nov. 15 document, Simms filed for Chapter 15 Bankruptcy
The former CEO of FTX Sam Bankman-Fried has expressed deep regret over filing for Chapter 11 bankruptcy last week, calling it his “biggest single fuckup.” In a wide-ranging interview with VOX which was published on Nov. 16, Bankman-Fried reportedly answered questions on a number of topics such as the Nov. 11 Chapter 11 bankruptcy filing,
Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, has commented on the collapse of crypto exchange FTX, stating that “it is partly fraud and party delusion.” Noting that “the country did not need a currency that’s good for kidnappers,” he stressed: “I basically like the existence of the Fed … I hate bitcoin
Professional esports organization Team SoloMid (TSM) (previously TSM FTX) has suspended its $210 million sponsorship deal with the now-bankrupt FTX crypto exchange “effective immediately” following the cryptocurrency trading platform’s shock collapse last week. The United-States-based esports organization made the announcement in a Nov. 16 tweet to its 2.2 million followers, adding that the decision was made
Ether (ETH) has been stuck between $1,170 to $1,350 from Nov. 10 to Nov. 15, which represents a relatively tight 15% range. During this time, investors are continuing to digest the negative impact of the Nov. 11 Chapter 11 bankruptcy filing of FTX exchange. Meanwhile, Ether’s total market volume was 57% higher than the previous
The collapse of FTX cryptocurrency exchange has created a liquidity crisis in the crypto space, which could extend the crypto winter through the end of 2023, according to a research report by Coinbase. According to analysts, the FTX implosion could keep the institutional investors at bay because they are even more likely to tread cautiously
A week after the fallout from the FTX and Alameda chaos, some on-chain data points are interesting to observe. Although record amounts of Bitcoin (BTC) and Ether (ETH) are leaving the exchanges, not all decentralized applications (DApps) and protocols have shown growth, mainly due to reliance on FTX and Alameda. DeFi earnings highlight positive revenue
California Representative Brad Sherman, who repeatedly called for a ban on U.S. residents buying crypto, accused leaders at several financial agencies of parroting former FTX CEO Sam Bankman-Fried’s ideas on regulating digital assets. In a Nov. 16 hearing before the House Financial Services Committee, Sherman directed his remarks to Federal Reserve vice chair of supervision
If FTX is sparking new Bitcoin (BTC) bear market lows, BTC price action has further to fall to match Mt. Gox. Data from on-chain analytics firm Glassnode confirms that the “Mt. Gox bear market” almost a decade ago still beats the 2022 lows. FTX vs. Mt. Gox: Same, same but different With the fallout from
Circle, the company behind the issuance of USDC Coin (USDC), said recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exchange Binance. In September, crypto exchange Binance announced it will auto-convert USDC to its own stablecoin Binance USD (BUSD), last week saw the collapse
The XRP price cannot escape the broader market sentiment at the moment and was trading at $0.3781 at press time. With this, XRP was unable to defend yesterday’s gains of over 9%, and continues to show itself trapped in a price channel between $0.32 and $0.40. The channel was established when XRP price fell from
In the South Pacific, the island nation of Tuvalu decided to turn to Web3 technology in order to make sure its culture and society are preserved in the future. On Nov. 15 the country’s foreign minister, Simon Kofe, told the COP27 climate summit that it is looking for alternative ways to protect the county’s heritage
Solana (SOL) has lost 60% of its market value in a week due to its exposure to the now-defunct crypto exchange FTX, which could continue to haunt the “Ethereum killer” well into the future. FTX/Alameda exposure hurting Solana price FTX and its sister-firm Alameda Research is liable to have control over 50 million SOL, according
The hacker that exploited the now-bankrupt FTX exchange last week made a tidy fortune that has propelled them to Ether (ETH) whale status. Just a day after the embattled FTX exchange filed for Chapter 11 bankruptcy, its wallets were drained for more than $663 million in various crypto assets, according to blockchain intelligence company Elliptic.
The superintendent of the New York Department of Financial Services (DFS) joined a nationwide regulatory discussion in the aftermath of the FTX collapse with a fresh take. Adrienne Harris believes that any federal crypto legislation to come should not override state regulatory regimes. During her speech under the headline “Digital asset regulation: The state perspective,”
The Turkish agency responsible for tackling money-related crime has initiated an investigation against troubled crypto exchange FTX. Days after the trading platform filed for bankruptcy in the United States, the department revealed it has been tracking its activities in Turkey. Turkish Financial Watchdog Sets Out to Dig Deeper Into FTX Case Turkey’s Financial Crimes Investigation