The US arm of troubled company FTX is closing trading activities soon but still permits customers to make withdrawals.
As the inflation data showed some relief, innovation stocks rallied hard pushing up the ARKK Innovation ETF to its biggest single-day gains.
Tron and Tron-based tokens have surged between 500% and 4000% on the FTX exchange as the exchange pursues alternative options to get out of its liquidity crunch.
Leading exchange Binance recently announced that users can now make payments for crypto using a debit/credit card.
The data has sent a positive signal to investors that inflation in the US has peaked, a good development for the broader economy.
The options left for FTX and Alameda Research are notably streamlined at this time. The expectation that the company’s assets outside of its US subsidiary will be acquired by Binance exchange fell apart as Binance pulled out of the deal.
Amid the FTX crisis, Genesis Trading said that its management is working to effectively handle the company’s lending book and credit exposure.
NFL legend Tom Brady, and his former wife, are among several household names to lose sizable stakes following the recent FTX collapse.
While no particular country has gotten a perfect check when it comes to the evolution of digital currencies, some nations are arguably more advanced in terms of the regulation governing the industry than others.
Amid the ongoing FTX financial crisis, Sequoia Capital has marked its $210 million investment with the exchange down to zero.
Justin Sun did not state any details about the solution he is working on with FTX.
From the current reality, FTX is likely to file for bankruptcy protection if it does not get the cash injections it needed to fulfill customers’ withdrawal requests.
Binance is reportedly having second thoughts about acquiring FTX after reviewing the embattled exchange’s financials.
The massive liquidity crisis at the FTX exchange has prompted calls for clear regulations in the US crypto market.
Binance backs out of the FTX deal citing concerns over the mishandling of customers’ funds by FTX and alleged US agency investigations. The Crypto market loses another $100 billion.