Michael Lewis' new book puts a positive spin on Sam Bankman-Fried
Michael Lewis painted an overwhelmingly positive picture of former FTX CEO Sam Bankman-Fried in his new book, “Going Infinite: The Rise and Fall of a New Tycoon.”
Michael Lewis painted an overwhelmingly positive picture of former FTX CEO Sam Bankman-Fried in his new book, “Going Infinite: The Rise and Fall of a New Tycoon.”
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The SEC filed a lawsuit against Ripple in December 2020 for using XRP to raise funds, which the commission claimed was a violation of securities laws.
Coinbase, a publicly listed company, claims it is subject to quarterly external auditor review. The exchange files annual audited financial statements with the SEC in February. Kraken, the third largest exchange, says that “trusted auditors” conduct its Proof of Reserves (PoR) audit twice per year. However, the only available PoR reports are dated June 2022…
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China Daily stated that digital collectibles sold on its platform may be bridged to the likes of Opensea and LooksRare.
The deployer account for LSC drained over $1 million in tokens from the project, then swapped them to BUSD using PancakeSwap.
There are various types of scams in the cryptocurrency industry and they all have the objective to steal something from the ones who fall for them, sometimes crypto doesn't need to be stolen for something to be a complete scam. There is a type of scam that doesn't involve taking cryptocurrencies from someone, it only…
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On-chain data shows the true market mean price of Bitcoin is valued at $29,700 right now, making the level of particular significance for the coin. Bitcoin True Market Mean Price Is At $29,700 Currently In a new post on X, the lead on-chain analyst at the on-chain analytics firm Glassnode, “Checkmate,” pointed out how the BTC price currently trades below the true market cost basis. The “market cost basis” refers to the average price at which the investors in the sector bought their coins. One popular way of calculating this cost basis is through the “realized cap,” which measures the total value of the cryptocurrency by assuming that the price at which each coin on the blockchain was last transferred is its true value. When this capitalization model is divided by the total number of coins in circulation, the “realized price” is obtained, which is the average cost basis of the supply. Related Reading: These Bitcoin Holders Have Bought Almost $2 Billion In Last 6 Weeks: Data However, this method has some issues, such as a chunk of the circulating Bitcoin supply being permanently inaccessible (due to wallet keys becoming lost). A lot of this inactive supply would have traded long ago, meaning its cost basis would be shallow compared to today’s prices. Thus, if included in the metric, it would skew its value away from reality. Checkmate and Ark Invest’s David Puell came up with “Cointime Economics” a while back, a new methodology that tackles the problems with the realized price. “Cointime Economics introduces a simplified framework to efficiently discount the impact of lost supply and amplify economic impacts on the truly active supply,” explains Glassnode. The chart below shows the trend in the “true market mean price” for Bitcoin, as calculated by this advanced model. Looks like the spot price of the asset is currently below this line | Source: @_Checkmatey_ on X Based on this more accurate model, Bitcoin currently has a true mean price of $29,700. Therefore, the asset’s spot price is trading well below this level. The graph shows that significant breaks above this indicator have historically resulted in the cryptocurrency enjoying some sustained bullish momentum. Checkmate has also attached the “AVIV Ratio Z-Score” data in the same chart. The “AVIV Ratio” tracks the deviation from the true market mean that BTC is currently observing. Related Reading: Bitcoin Makes Another Attempt At $28,000, Can Break Happen? The Glassnode lead notes that this indicator is the most accurate measure of the market centroid for Bitcoin. At the current value, the metric is “still -0.6 standard deviations below its long-term mean,” according to the analyst. The near-term outcome of the price based on this is uncertain, but in the long term, Bitcoin could see a reversion back to its mean, thus making the current price levels potentially profitable buying points. BTC Price At the time of writing, Bitcoin is trading at around $27,500, down 3% in the last week. The value of the coin appears to have registered some drawdown today | Source: BTCUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com, Glassnode.com