About $400 million worth of FTT tokens were launched on Sunday, but there might be more to the release than meets the eye.
Bitcoin price has dropped over 23 percent in the last seven days to trade below $16k on Monday following the FTX collapse.
The outcome of the US mid-term elections seems to have little impact on the crypto space which is still suffering the jolt of FTX collapse. Bitcoin makes a fresh 2022-low.
Notably, the accidental ETH transfer is not the first of its kind for Crypto.com. The crypto firm made headlines when it said it had accidentally sent AUD$10.5 million to a client.
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.
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.
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.
Bitcoin is in free fall and trading at around $16,700. A short-term squeeze is expected as institutional investors jump in to buy the dip.