Clash card, a mediaeval war culture inspired card-based battle game is now live on the BNB smart chain. The game, which revolves around the combat of two rival kings, takes its inspiration from the clash of clan warriors. The kings, or so you can say: commanders in the game are responsible for the layout of…
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There could be a surprising twist in the drama surrounding Sam Bankman-Fried’s insolvent crypto exchange FTX. As reported by the Straits Times, a possible government takeover by Singaporean state investor Temasek could be on the table. The group is one of FTX’s many investors. Meanwhile, 3rd largest investor in @FTX_Official for @Temasek. HFSP! pic.twitter.com/sVjyOJZ99v — Phryics.eth (@Phryics) November 9, 2022 According to the report, Temasek, in its role as a shareholder of FTX contacted SBF after Binance announced its bailout plans. The report goes on to say that a takeover by Binance would mean such a power shift that “makes Binance the ruler of the crypto world.” Related Reading: Coin Metrics Analyst: “FTX Might Have Provided Massive Bailout For Alameda In Q2” For this reason, Temasek is in talks with FTX, according to a spokesperson: We are aware of the developments between FTX and Binance, and are engaging FTX in our capacity as a shareholder Temasek invested in FTX’s Series B and Series C funding rounds, which raised $900 million and $400 million, respectively. However, FTX is not the only crypto exchange that Temasek has invested in the past. Temasek, through Vertex Ventures, also invested in Binance when the Singapore exchange launched operations. Related Reading: Which Coins Will FTX And Alameda Dump Next? Red Flag for Solana (SOL) Temasek is a Singapore government holding company with approximately $484.4 billion in net assets under management in 2021. The company is an investor that says it is guided by four key structural trends in building its long-term portfolio: Digitization, sustainable living, the future of consumption and longer life expectancy. The anonymous trader “degentrading” reacted to the news on Twitter, saying that in his opinion a bailout of Tesamak is unlikely, as their current exposure to Tesamak is only 1 billion. I doubt temasek would bail out FTX given their current commitment has only been 1bn? Especially if the hole is 6b. However if temasek does bail out FTX, I will send my sons to Singapore for army. Plz — degentrading (@hodlKRYPTONITE) November 9, 2022 Aside from the fact that Temasek is an FTX investor, the nature of the discussions between Temasek and the crypto exchange are unclear at press time.
Bitcoin plunged to a two-year low on Wednesday, as the FTX token sell-off continued to weigh on cryptocurrency markets. After an initial 30% slide, FTX token fell by as much as 80%, as Binance confirmed its intention to absorb the failing exchange. Ethereum was also lower, dropping below $1,200. Bitcoin Bitcoin (BTC) fell to its […]
The Facebook parent company announced it will let go of approx. 13% of its current workforce in the first mass layoff in the company’s history.
Cryptocurrencies exposed to Sam Bankman-Fried and his companies, Alameda Research and FTX, have dropped by an average of 40% this week.
Crypto liquidations across the market have ramped up in the last 24 hours. Digital assets in the space suffered declines in the last day, which has led to hundreds of millions of dollars being wiped from traders. These liquidations span the entire crypto market with hundreds of thousands of traders getting caught in one of the worst liquidation events of 2022. $830 Million Shaved Off Crypto Market In the space of 24 hours, there have been more than $830 million in liquidations recorded across the crypto market. It marks the second-largest liquidation event recorded so far in 2022, only coming out slightly under the October liquidation numbers. Related Reading: Bitcoin’s Decline Below $20,000 Proves The Bottom Is Not In Naturally, given that the price of digital assets across the space has been in decline, long traders have suffered the worst of the liquidations. Over 70% of the liquidation numbers have come from long traders. More than 33% of these volumes were recorded on the Binance crypto exchange with FTX following closely behind at 21.77%. Liquidations cross $830 million | Source: Coinglass A total of 392,043 traders have been liquidated in the one-day period with the largest single liquidation order taking place on the Binance exchange. The trade was placed on the BTCUSDT pair on the exchange and was worth $6.70 million. Total market cap falls to $832 billion | Source: Crypto Total Market Cap on TradingView.com Loss Leaders In 24 Hours In any liquidation event, digital assets such as Bitcoin and Ethereum always lead the pack. However, the decline of the FTX crypto exchange has brought about some strong contenders during this time. The crypto exchange which recorded the second-largest liquidation volumes saw its native token FTT suffer significant losses. Related Reading: Institutional Outflows From Bitcoin Paints Bearish Picture For Crypto Market Over the 24-hour period, there have been 5.75 million FTT tokens liquidated worth $26.6 million. This makes it the token with the fourth-largest liquidation volumes, coming right behind Solana (SOL) which FTX also had exposure. 3.26 million SOL worth $53.66 million had already been liquidated at the time of this publication. Even with almost $1 billion in liquidations already, there doesn’t seem to be an end to the bloodbath just yet. Bitcoin has once again fallen to the $17,000 level, still holding above the previous cycle low of $17,600, but with no support building up. Any wild movements similar to what was experienced on Tuesday could easily bring the liquidation figures up to $1 billion. Featured image from Bitcoinist, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
1) They can't pay back customers This means they stole customers funds! FTX isn't a fucking bank. They aren't supposed to have fractional reserves. They arn't allowed to lend out your assets. They are an Exchange. They are supposed to have all customers funds covered 1:1. Anything apart from this means they were committing fraud…
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After Binance and FTX engaged in a word war on social media – and eventually making amends (well, sort of; Binance said today it’s buying FTX) – Solana got dumped violently. Solana’s native token, SOL, is trading in the red across all time frames, as reported by CoinGecko, lending credence to the bearish claims. When asked what a Binance deal for FTX meant for Solana, Ran Neuner of CNBC Crypto Trader and founder of Crypto Banter referred to SOL’s pricing issues. In a tweet, he said: “Solana [is] getting killed.” He claims that the market has only recently realized that Binance CEO Changpeng Zhao “now owns 10% of the tokens and that he would prefer support the BNB chain than SOL.” This is a devastating blow to SOL investors and traders. November has gone down in history as one of the worst months ever for Solana investors. Solana getting killed. Market realizing that @cz_binance now owns 10% of the tokens and that he would rather support BNB chain than SOL. Also Solana just lost all the support and investment that FTX and @SBF_FTX were making in the ecosystem. — Ran Neuner (@cryptomanran) November 8, 2022 Based on figures by CoinMarketCap, the coin registered more than 20% in weekly decline. At Coingecko, SOL is down 37% in the last seven days. Chart: TradingView The Solana network did benefit from recent advancements on its network, but the market behavior of SOL over the past week has been very lackadaisical. Related Reading: Polygon Soars 13% In Last 7 Days As MATIC Bulls Work To Hit New Highs Negative Effects Of FTX On Solana In a related development, the FTX’s native token, FTT, has had its value drop across all time scales as well, and is currently trading at $4.058. Meanwhile, after being rejected at the $38.26 area, SOL is now trading in the red at the $17.52 range, reflecting the same downward shift, courtesy of the negative impact that FTT’s drop has brought along. Now, the charts also don’t look good for SOL buyers and sellers. A total turnaround of mood, as shown by the CMF signal, is only comparable to the market crash that occurred when Terra pulled the crypto market down. Image: The Independent Investors and traders are also receiving significant bear market indications from the RSI, making the current market environment considerably more precarious. Despite this, the crypto community is still on the fence regarding a bullish reversal as the crypto market cap plummeted after BTC and other tokens fell due to the FTX brouhaha. What Can Still Be Done As the coin is currently in freefall, SOL bulls can position themselves at the 23.60 Fibonacci retracement level, which can serve as a launchpad for a possible relief rally in the near future. However, even this potential support may remain hypothetical in the face of the ongoing drama between FTX and Binance. With the decline of the cryptocurrency market, all we can do is hope. The latest price crunch is fueled in part by a high institutional fear that another LUNA implosion might occur, and current investor sentiment reflects this anxiety in the form of panic selling on the cryptocurrency market, which exerts more downward pressure on SOL. As of this writing, SOL is trading at a new low of $16.55, which does not bode well for the coin’s investors and traders. If the opportunity presents itself, however, investors and traders can purchase the dip and potentially halt the current market decline. Related Reading: Ethereum Loses $1,500 Grip As ETH Heads Down To Correction Phase SOL total market cap at $7.18 billion on the daily chart | Featured image from NBC News, Chart: TradingView.com
The company is building payment rails that could make crypto purchases as ubiquitous as Paypal transactions.
Any ideas guys what do u think about this is ether going down more? submitted by /u/trimzeyy [link] [comments]
