On Monday, court documents from lawyers involved with the FTX Trading LTD Chapter 11 bankruptcy case allege that the government of The Bahamas asked the disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint new crypto tokens. The lawyers detailed that it was a “request for live, dynamic access that would be provided immediately to the […]
Pros-> A lot of them, self evident, big community and dev pool. Cons-> locked tokens, upset miners, among a lot more. What is the case for Eth not being overtaken by another more capable and faster moving L1 that does not have the baggage eth does ? submitted by /u/vingallomnr [link] [comments]
GMX and LOOKS price pulled off double-digit rallies in the last week as former BitMEX CEO Arthur Hayes revealed his investment thesis for both projects.
Hi all! Did you know Gitcoin is currently running a Grants Round with UNICEF (United Nations Children's Fund)? UNICEF vaccinates nearly half the world's children and saves 3 million lives every year. To make this round as successful as possible, we need your help! 🤝 ♥️ WHY THIS MATTERS: This round with UNICEF’s Office of…
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submitted by /u/gigabyteIO [link] [comments]
The move comes just one day after the crypto executive’s arrest on Dec. 12.
submitted by /u/Master_Ad_9083 [link] [comments]
Hi everyone, I want to understand what is the difference between; mining and running a node and becoming a validator, What requires consensus(voting); proposing blocks(I guess it is one selected proposer for every slot but please correct me and tell how this has changed before and after merge), or validating blocks? If a decentralised project…
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The largest crypto exchange in the world, Binance has experienced the most significant Bitcoin withdrawal in its history, per recent data. The company might face a bank run as crypto investors’ confidence continues to decline following the collapse of trading venue FTX and a U.S. investigation into major crypto exchanges. Related Reading: PancakeSwap (CAKE) Slides Below Range, Is This An Entry Point For Buyers? At the same time, positive economic data from the U.S. is positively impacting the market. Bitcoin is back above its previous yearly lows. As of this writing, BTC’s price trades at $17,750 with a 4% and 5% profit in the last 24 hours and the previous week, respectively. Bitcoin Rally In Danger, Binance Makes A Stand Data from on-chain analytic firm Glassnode, shared by Dylan LeClair, indicates that Binance has seen a massive withdrawal of 40,000 BTC in the last 24 hours. The outflows are almost double those seen in July 2021. At that time, the crypto market was experiencing a second capitulation event after hitting an all-time high north of $60,000. The cryptocurrency lost over 50% of its value from May to late July. In early November, the crypto exchange saw a significant outflow as FTX went belly up. However, the market seems more bearish on crypto exchanges now that at two of its worst sentiments, during the 2021 capitulation and the FTX collapse. In addition, the crypto exchange has experienced its worst stablecoin outflow since its inception. Additional data from LeClair indicates that Binance has seen $2.1 billion in outflows in the last 24 hours. There are $20 billion in stablecoin reserves. Overall, the exchange has enough funds to cover ten times its withdrawals, but the market sentiment is negative, and crypto investors’ confidence continues to dip. Changpeng “CZ” Zhao, CEO of Binance, welcomed the withdrawals and classified them as “stress testing”: We saw some withdrawals today (net $1.14b ish). We have seen this before. Some days we have net withdrawals; some days, we have net deposits. Business as usual for us. I actually think it is a good idea to “stress test withdrawals” on each CEX on a rotating basis. Bitcoin exchange outflows are often a bullish indicator. In the current context, with inflation declining and a potential U.S. Federal Reserve (Fed) pivot, the perception around outflows changed. Related Reading: Dogecoin (DOGE) Climbs 2.58% In 24 Hours, Can It Reach $0.1 Before The Week Runs Out? However, there is less Bitcoin on exchanges, regardless of market sentiment. The less the BTC supply on these venues, the more support for a market rally.
The indictment from the Southern District of New York names only Sam Bankman-Fried, but contains allegations of illegal activities by “individuals known and unknown” as well.
