Binance CEO Changpeng “CZ” Zhao has shared his take on “two big lessons” to be learned from the FTX saga, saying cryptocurrency firms shouldn’t use their own tokens as collateral and should also keep “large reserves.” In a Nov. 8 tweet, Zhao laid out two learnings after the significant “liquidity crunch” at FTX which has…
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The United States Treasury Department’s Office of Foreign Asset Control, or OFAC, has amended the sanctions on cryptocurrency mixer Tornado Cash in addition to including two individuals involved in “transportation and procurement activities” for the Democratic People’s Republic of Korea in its list of Specially Designated Nationals. In a Nov. 8 announcement, the Department of…
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After topping the $21,500 mark on Nov. 4, Bitcoin (BTC) price is down by 14% on Nov. 8, reaching a new yearly low at $17,166 and most altcoins are following suit. While the Binance and FTX news initially caused an uptick in the market, the day turned south as various unconfirmed sources speculate that FTX’s…
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FTX Token (FTT) and Solana (SOL) endured a tough weekend of trading which saw altcoins take double-digit losses in the 15% to 30% range, but the tide turned as news broke that Binance could be in the process of acquiring FTX. On Nov. 8, FTX CEO Sam Bankman-Fried first took to Twitter to announce a…
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The Federal Financial Supervisory Authority of Germany, also known as BaFin, has issued an order related to the business organization of Coinbase’s local arm in accordance with the country’s banking laws. In a Nov. 8 notice, BaFin said it had issued the order to Coinbase Germany GmbH for violations of “proper business organization” under the…
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Bitcoin (BTC) saw major volatility after the Nov. 8 Wall Street open as turmoil over crypto exchange FTX punished markets further. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance hints at plan to buy FTX Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $19,244 on Bitstamp, marking the pair’s lowest levels in two weeks and…
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Crypto communities can often implode, despite the best intentions of everyone involved. Genuine communities with plausible but convoluted project ideas can fail just as easily as projects like DeFi Wonderland, which imploded because of its CFO’s connection to the controversial, defunct Canadian exchange QuadrigaCX. Plausible projects face scaling challenges like Zilliqa or project management problems…
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On Nov. 8, registered voters across the United States will cast ballots for political candidates to represent them at the local, state, and federal level — and for some people, crypto is the main issue. Voters took to social media amid early voting in certain U.S. states and ahead of Election Day to proclaim that…
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This year, Oct. 31 marked the 14th anniversary of the issuance of one of this century’s most consequential white papers — Satoshi Nakamoto’s “Bitcoin: A Peer-to-Peer Electronic Cash System.” Its 2008 publication set off a “revolution in finance” and “heralded a new era for money, one that did not derive its value from governmental edict…
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Bitcoin (BTC) and crypto markets fell heavily into Nov. 8 as contagion from the FTX debacle spilled over. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Analysts dismiss FTX insolvency fears Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to $19,351 on Bitstamp — its lowest levels since Oct. 25. The pair, along with…
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