Sandeep Nailwal, the co-founder of Polygon, encouraged Solana community members to keep on building.
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
Wake up call? Bitcoin wallets move 3,500 BTC dormant since 2011
A Bitcoin whale has moved 3,500 BTC to new wallets for the first time since 2011, changing the address format from P2PKH to P2SH.
Wake up call? Bitcoin wallets move 3,500 BTC dormant since 2011
A Bitcoin whale has moved 3,500 BTC to new wallets for the first time since 2011, changing the address format from P2PKH to P2SH.
Traders take a neutral position after Ethereum futures contracts see massive liquidations
ETH price plummeted to a 4-month low at $1,070 after a wave of futures liquidations.
Traders take a neutral position after Ethereum futures contracts see massive liquidations
Ether (ETH) price shed roughly 33% between Nov. 7 and Nov. 9 after an impressive $260 million in future contracts longs (buyers) were liquidated. Traders using leverage were surprised as the price swing caused the largest impact since Aug. 18 at derivatives exchanges.
Ether/USD 4-hour price at Bitfinex. Source: TradingViewThe $1,070 price level traded on Nov. 9 was the lowest since July 14, marking a 44% correction in three months. This adverse price move was attributed to the FTX exchange’s insolvency on Nov. 8 after clients' withdrawals were halted.
It is worth highlighting that a 10.3% pump in 1 hour happened on Nov. 8, immediately preceding the sharp correction. The price action mimicked Bitcoin’s (BTC) movements, as the leading cryptocurrency faced a quick jump to $20,700 but later dropped toward $17,000 in a 3-hour window.
The previously vice-leader in futures open interest shared a disguised and toxic relationship with Alameda Research, a hedge fund and trading firm also controlled by Sam Bankman-Fried.
Multiple questions arise from FTX and Alameda Research’s insolvency, directed to regulation and contagion. For example, the United States Commodity Futures Trading Commission (CFTC) commissioner Kristin Johnson said on Nov. 9 that the recent case demonstrates that the sector needs more oversight. Moreover, Paolo Ardoino, chief technology officer of the Tether (USDT) stablecoin, tried to extinguish rumors of exposure to FTX and Alameda Research by posting on Twitter.
FTX contagion victim Deepak.eth puts NFT collection up for sale
Deepak.eth, the founder of the blockchain infrastructure Chain, listed their NFT collection for sale on OpenSea starting at 8,000 ETH.
New York Fed collaborates with Singapore MAS to explore CBDCs
A joint effort is aimed at assessing the possible use of wholesale central bank digital currencies in cross-border transactions.
Hodlers in loss sit on 50% of BTC supply after $5.7K Bitcoin price dip
Unrealized losses are hitting both long-term and short-term holders this week, with half of the supply underwater in wallets.
Hodlers in loss sit on 50% of BTC supply after $5.7K Bitcoin price dip
Bitcoin (BTC) is setting unenviable records this week as hodlers big and small battle some major pain.
Data from on-chain analytics firm Glassnode shows over one-third of the BTC supply being held at a loss by long-term hodlers (LTHs) — a new all-time high.
Long-term holders shoulder record unrealized losses
Profitability has taken a serious hit in recent days, and on-chain data confirms that even the most seasoned investors are suffering.
As BTC/USD crashed to two-year lows of $15,600, investors began to lose big, and at current levels of $17,200, the situation is not much better.
Glassnode shows that LTHs were holding 35.4% of the BTC supply — over 5.9 million coins — at a loss on Nov. 9, decreasing by only 1% on Nov. 10.
California regulators to investigate FTX crypto exchange collapse
The California DFPI announced it will open up an investigation as to the “apparent failure” of FTX and says it takes this oversight very seriously.
US senators commit to advancing crypto bill despite FTX collapse
158 Total views
Listen to article
News
United States senators Debbie Stabenow and John Boozman have doubled down on their commitment to publishing a final version of the Digital Commodities Consumer Protection Act 2022 (DCCPA) in the wake of FTX’s shocking collapse.
For a short time, the cryptocurrency community wasn’t sure how the senators would respond to the FTX crisis — as the DCCPA bill is understood to have been strongly supported by FTX CEO Sam Bankman-Fried.
But the members of the U.S. Senate Committee on Agriculture, Nutrition and Forestry confirmed their intentions in a Nov. 10 statement — stating “the events that have transpired this week reinforce the clear need for greater federal oversight of the digital asset industry.”
“Chairwoman Stabenow and I remain committed to advancing a final version of the DCCPA that creates a regulatory framework that allows for international cooperation and gives consumers greater confidence that their investments are safe,” wrote Senator Boozman.
US senators commit to advancing crypto bill despite FTX collapse
The two U.S. Senators said the downfall of FTX clearly exemplified “the need for greater federal oversight of the digital asset industry.”
US senators commit to advancing crypto bill despite FTX collapse
The two U.S. Senators said the downfall of FTX clearly exemplified “the need for greater federal oversight of the digital asset industry.”
Tron-based tokens sell at 1200% premium as FTX users scramble to withdraw
The JST token in particular is trading for a premium of around 1,200%, while BTT and TRX have inflated at least 500% apiece.
Cathie Wood's ARK adds $12.1M in Coinbase shares amid turbulent markets
Ark Investments topped up its Coinbase stock shortly after FTX's liquidity issues were revealed, which came after Coinbase stated that it had “minimal exposure” to the troubled trading platform.
Breaking: Bahamas securities regulator freezes FTX assets
The Bahamas Securities Commission said FTX's assets could not be moved without the approval of a Supreme Court-appointed liquidator.
Chainlink Labs offers Proof of Reserve service for embattled exchanges
The company claimed its PoR product can restore trust in crypto exchanges through greater transparency, but not everyone is convinced.
White House says 'prudent regulation of cryptocurrencies' is needed, hinting at situation with FTX
According to Press Secretary Karine Jean-Pierre, the administration and financial agencies will “closely monitor” developments in the crypto market.
FTX turmoil increases scrutiny of industry, something institutional investors have been waiting for
Hedge funds and asset managers are deploying digital asset teams, but lack of regulatory clarity is holding them back.
FTX US announces it may halt trading on its platform in a few days
According to the FTX US, “Withdrawals are and will remain open.”