The FTX drama continues as the deal with its competitor Binance falls apart. According to several reports, employees at the platform are fleeing amid growing concerns about a massive $6 billion hole on the company’s balance sheet. A report from Semafor indicates that FTX’s legal and compliance staff left en masse as the company announced…
In the wake of the FTX decline, the official token of the crypto exchange, FTT Token, has suffered a massive blow in the market. In the three days since Binance’s announced its intention to sell off its FTT, the token has recorded double-digit losses. However, the losses have not just been localized to one token,…
The crypto market became red with massive losses on Tuesday. Some analysts speculated that the selling pressure on Bitcoin and Ethereum from FTX’s attempt to raise liquidity against impending insolvency caused this cascade of losses. Some analytics data revealed that FTX liquidated its ETH holdings, which placed selling pressure on Ethereum and extended a sell-off…
There could be a surprising twist in the drama surrounding Sam Bankman-Fried’s insolvent crypto exchange FTX. As reported by The Straits Times, a possible government takeover by Singaporean state investor Temasek could be on the table. The group is one of FTX’s many investors. Meanwhile, 3rd largest investor in @FTX_Official for @Temasek. HFSP! pic.twitter.com/sVjyOJZ99v —…
After Binance and FTX engaged in a word war on social media – and eventually making amends (well, sort of; Binance said today it’s buying FTX) – Solana got dumped violently. Solana’s native token, SOL, is trading in the red across all time frames, as reported by CoinGecko, lending credence to the bearish claims. When…
Following the FTT token, Solana (SOL) in particular is currently suffering a massive price slump. As a report revealed last week, the SOL token is one of the major assets on FTX’s balance sheet. If Binance pulls out of the FTX deal, it could mean a massive sell-off in SOL. Amid concerns about this scenario,…
Recently, the crypto space has been facing an unexpected display between two prominent crypto exchanges, Binance and FTX. The CEO of Binance, Changpeng Zhao (CZ), announced that the exchange would liquidate all FTT tokens in its holdings. Naturally, this news created a negative impact on FTX and its token. Further, the entire crypto market has…
Did Binance just do what we think it did? The world’s biggest cryptocurrency exchange by trading volume will likely buy one of its biggest competitors. The market was in turmoil, the players were in panic mode, but this news calmed the waters in a big way. What’s next, though? Will Binance actually go through with…
Is this the beginning of the end for FTX and Alameda Research? Or will both organizations come out stronger on the other side? As NewsBTC reported, Binance’s CZ smelled blood in the water and announced that his exchange was selling their FTT reserves. That created a sort of a bank-run that left FTX in a…
FTX seems to fall deeper into its despair pit without any anchor. The crypto exchange is facing several issues threatening the stability of the firm. First, there appears to be an ongoing war between FTX and the Binance crypto exchange. This is presumed to involve their respective CEOs, Sam Bankman-Fried (SBF) and Changpeng Zhao (CZ).…