FTX Hit by Nine-Figure Hack as Meltdown Continues
Blockchain Crypto Investment Group, LBank Labs, announces the establishment of their new crypto investment fund targeted towards web3 development in Africa. LBank Labs plans to establish a series of regional development funds, including regions such as Korea, South East Asia, and more. This is the first of the sequence of new investment funds from LBank Labs. Africa is one of the areas with a lot of untapped potential for blockchain expansion. With new member Czhang on board LBank Labs, the...
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Daily structure strongly bearish following rejection at $360 $280 and $260 are levels to watch out for, but it could be risky for the bulls Binance Coin crashed as far south as $260 on 9 November. The bounce to $313 turned out to be a bearish retest, and the coming days could see another leg downward for the exchange token. Read Binance Coin’s...
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Solana witnessed a patterned breakdown while finding solid rebounding grounds over the past day. The altcoin’s funding rate on Binance still stood negative. Cryptos linked to Sam Bankman-Fried and his associated company Alameda Research have undeniably been at the forefront of facing substantial sell-offs. Consequently, Solana’s [SOL] collapse entailed a loss of more than half its value within three days before rebounding from...
Data from the Solana ($SOL) blockchain has revealed that a large whale is facing a potential liquidation of around $52 million worth of the cryptocurrency as its price tumbles over the collapse of the popular cryptocurrency trading platform FTX. According to popular crypto journalist Colin Wu, a Solana...
Recently, former Goldman Sachs executive Raoul Pal has revealed that he sees the price of Solana ($SOL) as “very interesting” over the forced liquidations that led to increasing sell-offs in the cryptocurrency’s price. In a thread Pal shared with his nearly 1 million followers on the microblogging platform Twitter,...
SOL saw a 55% discount during this week’s bearish onslaught More sell pressure might be on the way as over 47 million SOL is unstaked Solana’s native cryptocurrency SOL has had an unexpectedly bearish week so far. The considerable discount that it has received so far suggests that now might be a good time to ape back in. However, if you intend to buy disounted SOL at its current level, you might want to reconsider for now and here’s why. Read Solana’s...
Data from leading cryptocurrency markets data provider CryptoCompare has revealed that during its liquidity crisis, popular cryptocurrency trading platform FTX saw outflows of nearly 20,000 BTC. According to CrypotCompare’s deep dive into FTX’s insolvency and Binance’s move to sign a letter of intent to acquire the cryptocurrency exchange,...
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Binance Coin bulls were hopeful that recent news could initiate a bull run The rejection near $400 was followed by ruthless selling pressure In the wake of fears around the solvency of FTX, Binance signed a non-binding letter of intent with FTX.com with the intent to fully acquire FTX. However, due diligence was yet to...
On Tuesday, the cryptocurrency market took a hit as Binance CEO Changpeng Zhao, popularly known as CZ, revealed that the company would liquidate its entire FTX holdings. This announcement sent shockwaves across the sector, resulting in a sell-off that pushed the exchange (FTX) into a liquidity crisis. Later, Binance CEO Changpeng Zhao announced that his company has agreed to buy competitor Sam Bankman-Fried’s FTX for an undisclosed amount. CZ tweeted that they have signed a non-binding Letter of Intent...