The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem. According to DefiLlama, at the time of writing, Solana’s TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a
European Parliament economics committee member Stefan Berger has compared the current situation with FTX to the 2008 financial crisis, using “such Lehman Brothers moments” in justifying the need for regulating crypto. In a Nov. 9 tweet, Berger said proper regulation was needed to avoid issues which “cost enormous trust” in the crypto space, amid FTX
Crypto markets crumbled for a second day as the fallout from FTX’s liquidity troubles continued to negatively impact investor sentiment. Throughout the day Bitcoin (BTC) price dropped, falling to a new yearly below $16,000 as Binance announced that it would back out of its agreement to acquire FTX. Investors had pinned their hopes on a
Investor sentiment in the crypto market is floundering after Binance decided to nix its agreement with FTX to purchase the distressed cryptocurrency exchange. The events have sent Bitcoin to a new yearly low, while other altcoins have also taken a sharp downturn. Data from Cointelegraph shows Bitcoin (BTC) declining to $15,698 amid the chaos caused
The world’s largest cryptocurrency exchange Binance will not go through with purchasing the rival crypto exchange FTX. The company noted that after due diligence and “news reports regarding mishandled customer funds,” Binance has decided not to pursue the FTX acquisition. Binance Drops the FTX Acquisition After the crypto exchange Binance revealed it would purchase FTX,
No, it’s not Groundhog Day. Subway is accepting Bitcoin (BTC), again — but this time it’s using the fast, nearly free Bitcoin Lightning Network. Kicking off the 7-day #usingbitcoin week with Lunch at Subway, Chausseestrasse in Berlin! 50% off when paying with #bitcoin #spendyourbitcoin pic.twitter.com/f81kdMOnEQ — felix (@felixbillert) October 19, 2022 The world’s largest franchise by
Ethereum layer-2 scaling platform StarkWare has officially launched the StarkNet Foundation with the introduction of a diverse board that aims to safeguard Ethereum’s decentralization and censorship resistance. Seven individuals, including key members from the Ethereum ecosystem and wider cryptocurrency space, will head up the non-profit entity. An announcement shared with Cointelegraph outlined the role of the
Results from many election races for seats in the United States Senate and House of Representatives are still coming in, but a number of candidates who have expressed staunch views on digital asset regulation won on Nov. 8. Some of crypto’s most outspoken supporters at the local and federal level, including Wyoming Senator Cynthia Lummis
As the liquidity crisis and acquisition of cryptocurrency exchange FTX continues, Binance CEO Changpeng “CZ” Zhao assured his community of insurance of sufficient funds backing the network. In a tweet on Nov. 9, CZ said that the exchange has once again topped its Secure Asset Fund for Users (SAFU) at $1 billion equivalent in light
Satoshi Nakamoto developed the first decentralized cryptocurrency called Bitcoin (BTC) and referred to it as “a peer-to-peer electronic cash system.” As per Bitcoin’s white paper, online payments could be made directly from one party to another without going through a banking institution with a peer-to-peer version of electronic cash. That said, other than using Bitcoin
As the Plenary vote for the landmark Pan-European crypto legislation, Markets in Crypto Assets (MiCA), has been rescheduled from the end of 2022 to February 2023, Stefan Berger believes that to be a matter of technical necessity. Responding to Cointelegraph’s request for more info, Berger, a member of the European Parliament responsible for procedural handling
Bitcoin (BTC) liquidated $200 million of long positions on Nov. 8 as BTC price briefly tumbled to two-year lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price sets new two-year low Data from Cointelegraph Markets Pro and TradingView revealed carnage across crypto price charts as exchange FTX kept the mood low. After initially rebounding over
The rumors about the possible liquidity crisis for the world’s third-largest crypto exchange turned out to be true. Just a day after assuring funds are fine, and they have the assets to back customer’s funds, FTX CEO Sam Bankman-Fried (SBF) announced on Tuesday that Binance has shown intent to acquire the global crypto platform to
What impact could the LBRY ruling have on the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC)? This is the question that attorney John E Deaton, who has 75,000 XRP investors behind him in his amicus brief, has tried to clarify. As revealed yesterday, the New Hampshire court found that
MUFG, the biggest bank in Japan, is projecting to offer financial services through the metaverse in 2023. The financial giant has partnered with ANA Holdings, a holdings consortium focused on air transportation companies, to be part of ANA’s Granwhale metaverse, and explore the possibility of selling financial products on this platform next year. MUFG Prepares
Binance CEO Changpeng “CZ” Zhao has shared his take on “two big lessons” to be learned from the FTX saga, saying cryptocurrency firms shouldn’t use their own tokens as collateral and should also keep “large reserves.” In a Nov. 8 tweet, Zhao laid out two learnings after the significant “liquidity crunch” at FTX which has