Category: Cryptocurrency News

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Claims that Ukraine has invested military aid into the bankrupt crypto exchange FTX have been rebutted by a representative of the Ukrainian government. Speculation circulated on social media suggested such funds have been returning to the U.S. via FTX donations for the Democratic Party. Kyiv Official Describes as Nonsense Allegation That Ukrainian Investment in FTX […]

If you haven't noticed SBF started tweeting again, and it's mostly nonsense. Take a look at the latest tweet: https://nitter.it/SBF_FTX/status/1592768342582259725#m In the previous tweet he's trying to say there is some money in illiquid assets left in FTX? But these are probably all low MCAP shitcoins that he can't possible sell to recover anywhere near…
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Brian Armstrong, the CEO of Coinbase has applauded the efforts of crypto analysts and citizen journalists amid the fall of FTX.

Circle attributed its miscalculated financial projections to Binance implementing USDC to BUSD auto-conversions and the recent collapse of FTX.

Here's the link, she just went live: https://www.botshed.xyz. I've tried to give developers a way to essentially outsource input validation by including a simple form template in their repo. That way, bots can remain super low-resource command-line applications but a user's experience is still basically graphical. At the moment there's a limit bot (works with…
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The Solana (SOL) ecosystem, according to Laguna Labs Chief Executive Officer (CEO) Stefan Rust, took a harder hit compared to other major digital coins such as Bitcoin and Ethereum following the collapse of the FTX crypto exchange. Here’s a quick glance at SOL performance: Following the collapse of FTX, Solana lost almost 60% of its market value SOL has gone up by 2% over the last 24 hours, trading above the $14 marker Solana coins deposited on blockchain decreased sharply, from 68 million in June to just almost 25 million now “In the current crypto shakeout, the most unfortunate innocent victim is the Solana ecosystem,” Rust said. The CEO noted that the network’s native token, SOL, dropped by nearly 60% since FTX collapsed. In comparison, Bitcoin fell by 19% and Ethereum went down by almost 20%. Rust and other crypto players have reasons to believe that FTX and its trading firm Alameda Research sold large quantity of Solana crypto to mitigate its losses and stay afloat, affecting the cryptocurrency and its trading price. Whether the altcoin can make a comeback during the next few days or not, it’s anyone’s guess up to this time especially that its technical indicators are considered underwhelming from the bulls’ perspective. How Solana Is Performing And Where It’s Headed After dipping all the way down to $12.07, SOL mounted a recovery of its own, going up by 2% over the last 24 hours to trade at $14.21 at the time of this writing according to tracking from Coingecko. Related Reading: Chiliz Bulls Remain Watchful As CHZ Feeling Bearish Impulse Source: TradingView Over the last seven days, the crypto asset’s price action has twice indicated the formation of a bullish block that was supposed to be an encouraging sign for its investors. The first was in November 10 when Solana swung between the narrow range of $18.3 and $12.35, establishing the mid-point of $15.33 as a crucial support and resistance zone. The second instance was in November 14 when the altcoin ignored its lower timeframe bearish structure as it climbed all the way up to $14.43, flipping its bias to bullish. With this, traders and investors looking to take profit should put their focus in the $13 to $13.25 region as an optimal entry point although it is not without risks as the asset continues to struggle right now. Its Relative Strength Index (RSI) settled at the 50-55 score region, indicating that SOL volatility could easily ruin any plans for long trade set-up. Image: Altcoin Buzz Investors And App Developers Leaving Solana In the aftermath of the FTX implosion and the negative effects it had on the crypto asset’s ecosystem, app developers and investors appeared to have abandoned the sinking ship. According to data from DeFiLlama, the current number of Solana coins deposited in the blockchain that is widely used for decentralized finance applications stands at 24.74 million. The number is substantially lower than the 68.2 million tally that was recorded back in June. In light of this development, co-founder Anatoly Yakovenko allayed the fears of investors, saying Solana Labs didn’t have any assets deposited on FTX and as far as financial stability, under its current condition, it will be good for business for the next 30 months. Meanwhile, Raj Gokal, another co-founder of the company, also expressed his sentiments, saying this is a crucible for Solana which will make it even stronger in the future. Related Reading: Chainlink Suffers 40% Loss In Last 7 Days – Can LINK Regain $9 Mark This Week? Crypto total market cap at $805 billion on the daily chart | Featured image from The New Daily, Chart: TradingView.com

Burning flames from the FTX collapse continue as damages spread throughout the crypto market and industry. FTX is left to themselves as other firms cannot assist due to the magnitude of debts incurred by the exchange. Binance initially intended to help but later acknowledged that the situation was beyond its power. Meanwhile, the latest reports have revealed that the embattled crypto firm has filed for Chapter 11 Bankruptcy. The FTX crisis has plunged many crypto firms into debt and losses, including Huobi’s subsidiary, Hbit Limited. Related Reading: Bitcoin Shows Strength As Price Holds Above $16,500; Is This A Bear Trap? Hbit Limited revealed in an official announcement that it failed to withdraw $18.1 million worth of assets deposited on FTX. According to the announcement, $13.2 million out of the total value stuck on FTX belongs to Hbit’s clients. This is because the firm deposited the assets on FTX as per clients’ trading requests. The remaining $ 4.9 million belongs to Hbit Limited. However, the firm announced that it would seek legal assistance and follow the necessary steps to recover the assets from the collapsed crypto exchange. Impending Financial Crisis For Hbit According to Hbit’s announcement, the issue may negatively impact its financial performance if not resolved accordingly. However, it revealed that the incident does not affect other business operations of Huobi Group since Hbit is a separate entity. Therefore, different lines of business of the group will continue their everyday operations. Contagion fears from the FTX collapse have spread to other crypto exchanges as the majority are experiencing increased selling pressure. Crypto.Com is one of the crypto exchanges facing such challenges. CRO, the native token of Crypto.com, is down by 45% after suffering a massive sell-off since the FTX fiasco. It started with rumors that the crypto exchange might be a victim of the ongoing liquidity crunch. But the CEO of Crypto.Com, Kris Marszalek, dismissed the rumors, claiming they recovered $990 million from FTX. Marszalek assured users that Crypto.Com maintains a strong balance sheet. He added that his firm’s exposure to the newly collapsed exchange is at most $10 million. Update On The FTX Crisis According to the FTX bankruptcy filing, the exchange valued its assets between $10 and $50 billion. It also listed over 130 affiliate companies around the world. Many affiliated companies joined in the bankruptcy filing in Delaware on Friday. The FTX crisis brought a sudden turn of events for Sam Bankman-Fried, who helped some crypto firms out of their financial trouble earlier this year. Meanwhile, on Saturday, FTX confirmed that there was an unauthorized access to its accounts a few hours after the bankruptcy filing. Related Reading: XRP Price Rallies 15%, Why Ripple Could Outperform Bitcoin and Ethereum The news stirred reactions about whether the exchange got hacked or an insider stole the funds. While the amount of money involved remains to be determined, analytics firm Elliptic estimated that $477 million is missing from the exchange. Meanwhile, FTT has lost 97.19% of its valuation since the crisis and is now trading at $1.804. Featured image from Pixabay, chart from TradingView.com

Ethereum started a recovery wave above the $1,240 level against the US Dollar. ETH could gain bullish momentum once it clears the $1,280 and $1,300 resistance levels. Ethereum started a recovery wave above the $1,220 and $1,240 levels. The price is now trading near $1,260 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,275 on the hourly chart of ETH/USD (data feed via Kraken). The pair must settle above the $1,300 resistance to start a decent increase in the near term. Ethereum Price Remains In Range Ethereum remained well bid above the $1,170 level, similar to bitcoin. ETH started a steady recovery wave above the $1,200 resistance zone. The price was able to clear the 50% Fib retracement level of the downward move from the $1,348 swing high to $1,170 low. There was also a spike above the $1,250 resistance zone. However, the price failed to gain strength above the $1,280 level. Ether price is now trading near $1,260 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,275 level. There is also a key bearish trend line forming with resistance near $1,275 on the hourly chart of ETH/USD. The trend line is near the 61.8% Fib retracement level of the downward move from the $1,348 swing high to $1,170 low. The next major resistance is near the $1,300 level. A clear break above the $1,300 resistance could set the pace for a decent recovery wave. Source: ETHUSD on TradingView.com In the stated case, the price could rise towards the $1,350 level. Any more gains might send the price toward the $1,400 resistance zone. Fresh Decline in ETH? If ethereum fails to climb above the $1,300 resistance, it could start another decline. An initial support on the downside is near the $1,225 level. The next major support is near the $1,200 level, below which ether price may perhaps revisit the $1,170 support zone. If the bulls fail to protect the $1,170 support, there is a risk of a major decline. In the stated scenario, the price could decline towards the $1,100 support zone in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,170 Major Resistance Level – $1,300

Satoshi dropped the whitepaper in response to the reckless practices that led to the 2008 crash. Here we are 14 years later, watching our movement cripple in unison to those same contagions. We literally let some trust fund weasel scumbag play all of us the moment we normalized not having custody of our private keys.…
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