On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total assets were found in FTX-related addresses, but only $694 million is considered “Category A Assets,” or liquid cryptocurrencies
Bitcoin
Crypto traders’ urge to create leverage positions with Bitcoin (BTC) appears irresistible to many people, but it’s impossible to know if these traders are extreme risk-takers or savvy market-makers hedging their positions. The need to maintain hedges holds even if traders rely on leverage merely to reduce their counterparty exposure by maintaining a collateral deposit
On Wednesday, Binance CEO Changpeng Zhao, also known as CZ, announced the launch of a new non-fungible token (NFT) platform infused with artificial intelligence (AI). The AI-centric product is named Bicasso, and CZ said the beta version dropped today and was limited to 10,000 mints. Combining AI and NFTs: Binance CEO Announces Bicasso Artificial intelligence
Bitcoin (BTC) faced a showdown with a key trend line on Feb. 28 as the monthly close finally arrived. Bitcoin “doesn’t feel bullish” into February close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling an area around $23,500 at the Wall Street open. With United States stocks flat and the U.S. dollar avoiding
Bitcoin consolidated below the $24,000 level on Feb. 27, as cryptocurrency markets prepared for a big week of economic data. Durable goods orders from the United States will be released later today, with consumer confidence figures set for Tuesday. Ethereum rose back above $1,600, following a breakout on Sunday. Bitcoin Bitcoin (BTC) has largely been
The cryptocurrency markets and the United States equities markets witnessed profit-booking this week as the macroeconomic data hinted toward continued rate hikes by the Federal Reserve. Bitcoin (BTC) is down more than 4% and the S&P 500 fell 2.7% to record its worst week of the year. The CME FedWatch Tool shows a 73% probability
The Solana smart contract token network experienced a technical glitch on Saturday, February 25, 2023, known as a “large forking event,” causing transaction failures for some users. Solana’s incident report referred to it as “cluster instability” and indicated that a coordinated restart was launched to accelerate block finalization. Solana Blockchain Deals With ‘Large Forking Event’
Bitcoin’s (BTC) recent price rally from $16,500 to $25,000 can be attributed to a short squeeze in the futures market and recent macroeconomic improvements. However, while prices increased, data suggests that many interested buyers (including whales) were left on the sidelines. The recent rally to $25,000 shared many similarities with the 2019 bear market rally,
Ethereum rebounded on Feb. 23, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. The minutes showed that the Fed hinted at maintaining its current policy until further signs that inflation is “substantially” slowing. Bitcoin was also higher, as it rose back above $24,000. Bitcoin Bitcoin (BTC) moved back above $24,000 on
The capacity of Bitcoin’s Lightning Network (LN) recently surpassed an all-time high of 5,000 Bitcoin (BTC). The Lightning Network is a neutral protocol built on top of Bitcoin, and it currently does not have a “native” token attached to it like many decentralized finance (DeFi) platforms. Although the Lightning Network’s total liquidity is less than
Eight days ago, Paxos announced that the company would no longer mint the stablecoin BUSD. Since then, the coin’s market capitalization has been sliding lower as redemptions have become more prominent. Meanwhile, a data researcher from Nansen has discovered that Binance, the largest cryptocurrency exchange by trade volume, has increased its usd coin holdings by
It might seem like forever ago that Bitcoin (BTC) was trading below $18,000, but in reality, it was 40 days ago. Cryptocurrency traders tend to have a short-term memory, and more importantly, they attribute less importance to negative news during bull runs. A great example of this behavior is BTC’s 15% gain since Feb. 13
On Friday, debtors who control the official FTX Twitter account warned the community to “be on alert for scams from entities claiming to be affiliated with FTX.” They also noted that neither FTX debtors nor any entity related to the company has issued any IOU crypto assets or “debt tokens.” The alert comes as a
Bitcoin (BTC) is leaving traders guessing as the bull market’s future depends on the last week of February. In multiple tweets on Feb. 17, popular trader and analyst Rekt Capital flagged crucial resistance battles ongoing on BTC/USD across multiple timeframes. Bitcoin price squares off with bear market downtrend Bitcoin hit new six-month highs this week
Bitcoin fell below the $25,000 mark on Friday, as markets moved into consolidation, following recent gains. Prices fell by almost $1,700 in the last 24 hours, with the global cryptocurrency market cap down 1.89% as of writing. Ethereum also dropped, after breaking into the $1,700 level on Thursday. Bitcoin Bitcoin (BTC) fell sharply below a
While the U.S. Federal Reserve (FED) continues to monitor the overheated economy, the most likely scenario is further interest rate hikes to curb inflation. The unintended consequence is the heightened government debt cost, creating a bullish environment for scarce assets such as commodities, stock market and cryptocurrencies. Bitcoin’s price gain practically extinguished bears expectation for
On Feb. 14, 2023, Milena Mayorga, the Salvadoran ambassador to the United States, announced that her country is considering opening a second bitcoin embassy in the Lone Star State. Mayorga said that Texas is “our new ally” and the goal is to expand “commercial and economic exchange projects.” Ambassador Milena Mayorga Fosters Growing Relationship Between
After twenty days of holding the $22,500 support, Bitcoin (BTC) price finally broke down on Feb. 9. Bullish traders had placed their hope on a sustained rally, but this has been replaced by a tight trading range with resistance at $22,000. The downtrend is even more concerning since the S&P 500 is trading near its
Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD. Binance’s CEO on SEC Action Against Paxos and BUSD Following
Bitcoin (BTC) edged closer to $22,000 over the weekend as traders and analysts urged caution on overly bearish sentiment. Analyst dismisses “hysterical” crypto sentiment Data from Cointelegraph Markets Pro and TradingView showed BTC/USD seeing small spurts higher into Feb. 12. After hitting three-week lows the week prior, Bitcoin was a target for opportunistic whales, on-chain