United States payment systems operator The Clearing House has released its response to a Treasury Department request for comment on “digital-asset-related illicit finance and national security risks as well as the publicly released action plan to mitigate the risks.” The Clearing House found significant security serious risks associated with digital assets but was concerned that…
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Maxine Waters, chair of the United States House of Representatives Financial Services Committee, pushed for additional federal oversight of crypto trading platforms and consumer protection amid FTX facing liquidity issues. In a Nov. 10 statement, Waters cited FTX’s difficulties as the latest example of incidents “involving the collapse of cryptocurrency companies” and how such events…
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The Financial Services Agency, or FSA, of Japan has requested FTX Japan suspend business orders, citing the policies of FTX Trading Limited. In a Nov. 10 announcement, the FSA said it had taken administrative actions against FTX Japan following FTX Trading Limited’s suspension of withdrawals “without explaining the reasons clearly to investors.” The financial regulator…
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Bitcoin (BTC) surged $1,000 in five minutes before the Nov. 10 Wall Street open as United States inflation and jobs data boosted risk assets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI comes in lowest since start of 2022 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to daily highs of $17,782 on…
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In light of the FTX liquidity crisis and the almost-acquisition by Binance, Binance CEO Changpeng “CZ” Zhao assured his community that his network would provide full transparency on asset holdings. On Nov. 10, Binance published a new page titled “Proof of Assets” on which all details are available of its on-chain activity for its hot and…
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Bitcoin (BTC) and crypto markets saw fresh volatility on Nov. 10 after stablecoin Tether (USDT) unpegged from the U.S. dollar. USDT/USD 1-day candle chart (Binance U.S.). Source: TradingView Tether exec: “No issues” with USDT Data from Cointelegraph Markets Pro and TradingView showed USDT hitting lows of $0.971 on Bitstamp on the day amid fears that…
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Hardware-based cryptocurrency wallet provider Ledger has experienced some issues due to massive outflows from crypto exchanges amid the FTX bloodbath, according to its chief technology officer. Ledger saw a “massive usage” of their platforms and suffered a “few scalability challenges” on Nov. 9, Ledger CTO Charles Guillemet reported in a statement on Twitter. Guillemet reasoned…
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Coinbase CEO Brian Armstrong was not delighted with the news about the United States regulators looking into FTX.US along with Coinbase and Binance.US in the wake of the FTX crisis. Armstrong said that the enforcement action against U.S.-based companies for the irregularities committed by an offshore crypto exchange that fall out of the jurisdictions of…
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Following the FTX bank run, which accelerated by Nov. 7, Bitcoin (BTC) price started to buckle and, by press time, lost 21% in five days. Among the victims of the swift market meltdown is the world’s largest institutional Bitcoin fund, the Grayscale Bitcoin Trust (GBTC). On Nov. 9, the GBTC closed at a record discount…
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Bitcoin (BTC) miners could form the next BTC price “trigger,” research warns as withdrawals intensify. In a Quicktake post for on-chain analytics platform CryptoQuant on Nov. 10, contributor MAC.D suggested that miners could soon face “bankruptcy.” Research: Network conditions “will strangle” miners After BTC/USD fell 20% in a matter of days, miners began operating at a…
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