Michael Burry, the fund manager and investor who became popular from the “The Big Short” movie, believes gold will shine as investors seek safety from crypto risks due to the catastrophic collapse of Sam Bankman-Fried’s FTX. Burry is notoriously famous for shorting the U.S. housing market and profiting from the 2008 financial crisis. He also...Read More
The Canadian singer and teen idol – Justin Bieber – made the headlines in January by purchasing an NFT from the BAYC collection for 500 ETH (around $1.3 million at the time). The intensifying bear market and the decreasing interest in digital collectibles, though, have shrunk the USD value of his investment by over 94%....Read More
Numerous major exchanges are disabling deposits and/or withdrawals for Solana-based variants of the top two stablecoins, USDT and USDC. The wave of delistings follows Solana’s major price crash in the wake of FTX’s collapse – an exchange known to be closely involved with the network and token. Scrubbing the Solana Stablecoins On Thursday, Binance announced...Read More
The revelations surrounding FTX’s downfall continue with full force. Now, according to the most recent court filings, Alameda Research – SBF’s trading firm, had some privileges. The trading firm of Sam Bankman-Fried, Alameda Research, was secretly exempted from some aspects of the auto-liquidation protocol of FTX. It’s worth noting that SBF was also the acting...Read More
Arkon Energy – an Australian-based bitcoin mining firm – raised $28 million and acquired Hydrokraft AS (a Norwegian energy-based data center). These will double down on the companyr’s green strategy and aim to increase its mining capacity. Distressed Cycles Could Produce Winners According to a recent document seen by CryptoPotato, the Hydrokraft AS purchase was...Read More
John J. Ray III may have unwounded major corporate failures, but in over four decades of legal and restructuring experience, he claims to have never seen such “unprecedented” management failures as in the case of the bankrupt FTX cryptocurrency exchange under Sam Bankman-Fried’s tenure. In the latest filing to federal bankruptcy court, FTX’s new chief...Read More
San Francisco, California Nov 17th, 2022, Building off of its hyper-growth trajectory, California-based public L1 blockchain and omnichain smart contract platform ZetaChain (ZETA) announces the launch of an upgraded testnet. This powerful network upgrade supports cross-chain messaging and introduces Omnichain Smart Contracts support. ZetaChain is the only public blockchain where smart contracts can access and...Read More
Former FTX CEO Sam Bankman-Fried has received a significant share of criticism following the sudden collapse of the FTT token and its subsidiaries. With a congressional hearing on FTX collapse slated for next month, Bitcoin maximalists have taken to the social media stages to advocate for its prowess. Jack Dorsey – a Bitcoin supporter and...Read More
[PRESS RELEASE – Please Read Disclaimer] The cryptocurrency industry has far outgrown its initial stages from a decade ago when bitcoin was first introduced to the world. The tech behind the world’s first and largest digital asset has become an immense part of numerous industries, such as VoIP services. Today, we will look at a...Read More
[PRESS RELEASE – Please Read Disclaimer] The cryptocurrency industry has long outgrown its initial phase that came over a decade ago with the launch of the Bitcoin blockchain. There’re countless projects, websites, companies, and everything in between representing the world of digital assets. The largest industry website is CoinMarketCap, owned by the world’s biggest crypto...Read More
On Nov. 17, crypto compliance company Chainalysis posted a market update, and it was not all doom and gloom. The firm acknowledged that other companies may face insolvency issues in the wake of last week’s FTX downfall. “Many market fundamentals remain stable,” it added, pointing out that the FTX situation stemmed from “financial fraud rather...Read More
As the remains of FTX continue to circle the drain amidst a storm of cryptic tweets from the former CEO, more and more firms have taken the necessary measures to clear the air, announcing their lack of exposure to the company. Meanwhile, certain entities who did have exposure – such as Huobi – are taking...Read More
[PRESS RELEASE – London, United Kingdom, 16th November 2022] Angelo, an investment platform tying physical fine art to NFTs, has announced its launch. The web3 platform aims to add a more tactile component to the abstract concept of NFT ownership. The public will be able to experience Angelo for the first time when the platform...Read More
El Salvador’s president took it to Twitter to announce that the country will resume its BTC buying spree as of tomorrow. Interestingly, Tron’s Justin Sun quickly followed up, saying his blockchain project will do the same. Although 2022 has been a rough year for the cryptocurrency market, with many inside and outside factors pushing prices...Read More
(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.) I suggested in my last piece that you had to at least give kudos to Sam Bankman-Fried (SBF) for...Read More
The crash of the popular crypto exchange FTX has become an embarrassment for the entire crypto space as it failed to build trust among users and provide properly secured infrastructure. FTX’s demise has undoubtedly thrashed several investors with a loss of billions of dollars and forced miners to give up their mining journey as their...Read More
The Australian Securities & Investments Commission (ASIC) suspended the FTX Australia license until May 15, 2023, following the exchange’s recent fiasco. The crash has affected around 30,000 Aussie consumers who are exploring how to retrieve their funds. The Latest Strike on FTX Despite the termination of its license, FTX’s Australian subsidiary will be able to...Read More
The notorious new “Chief Twit,” Elon Musk, may not be so for much longer. After buying Twitter and installing himself as its CEO late last month, the billionaire has revealed plans to leave the management of the firm to another person. Elon is Busy Speaking at B20 Indonesia 2022 on Monday, Musk said he was...Read More
