Bitcoin / 629 posts found
As regulators scrutinise FTX, investor focus swings to Crypto.com
Bitcoin Crypto.com CEO says it will publish proof of reserves Bitcoin steadies around $16,700 Binance CEO plans “industry recovery fund” Smaller exchange AAX halts withdrawals SINGAPORE/LONDON, Nov 14 (Reuters) – Bitcoin and other cryptocurrencies remained under pressure on Monday following last week’s collapse of crypto exchange FTX while rival exchanges sought to reassure jittery investors of their own stability. Kris Marszalek, CEO of Singapore-based crypto exchange Crypto.com, refuted suggestions it could be in trouble, saying in a YouTube livestream address the platform would prove all naysayers wrong. The ‘AMA (ask-me-anything)’ session came after investors took to Twitter over the weekend […]
Kraken Daily Market Report for November 12 2022
Cryptocurrency Cryptocurrency Overview Daily spot trading volume: $486.6 million, 30 day average spot: $669.3 million. Total futures notional: $46.6 million. The top five traded coins were, respectively, Tether (↑0.04%), USD Coin (↓0.01%), Bitcoin (↓1.4%), Ethereum (↓2.5%), and Dogecoin (↑3.5%). Strong returns from Mango (↑33%), Marinade SOL (↑27%), and Tribe (↑27%). November 12, 2022 $486.6M traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD USDT $0.9983 ↑0.04% $233.0M USDC $0.9999 ↓0.01% $63.4M BTC $16775. ↓1.4% $60.3M ETH $1253.8 ↓2.5% $53.1M…
Dollar Index (DXY) Parabolic Rise Breaks Down as US Inflation Declines
The U.S. dollar index negatively correlates with traditional stocks and the cryptocurrency market. If the DXY has indeed already reached the macro top of this cycle, it is likely that Bitcoin has already recorded or is close to the macro bottom of an ongoing bear market. The latest economic data from the United States shows that inflation in October 2022 fell more sharply than expected. This gives hope for U.S. consumers and is good news for the Federal Reserve (Fed), which has been trying to lower the Consumer Price Index (CPI) for months. The U.S. CPI came in at 7.7% […]
Bitcoin Might Finally Be Collapsing, and That’s a Good Thing
Bitcoin David Sandron/Shutterstock.com Bitcoin was the first mainstream cryptocurrency, but its high price has ensured it remains popular, even as the technology behind it became more outdated and inefficient. Now, Bitcoin might finally in a death spiral. One Bitcoin is still worth around $17,000, as of when this article was published, but that’s a significant drop from where the currency was valued a year ago. The currency was at an all-time high of around $68,000 in November 2021, so if you bought some then, you would have lost over 70% of your money. Bitcoin’s value is based entirely on its […]
MicroStrategy Reportedly Loses $1.8 Billion as Crypto Prices Plummet
MicroStrategy Inc, the largest corporate holder of Bitcoin, is reportedly sitting on $1.8 billion in unrealized losses from its purchases. The Tysons Corner, Virginia-based software company and its subsidiaries hold roughly 130,000 Bitcoin, worth around $2.2 billion at the current price. The Bitcoins were bought at an aggregate price of almost $4 billion, with each Bitcoin costing around $30,369. This now places the company $1.8 billion in the red. Can MicroStrategy continue hodling? Executive chairman Michael Saylor had previously said the company would never sell its Bitcoin. The refusal to sell means that the company sits on substantial paper losses. […]
First Mover Asia: Possible Legal Filings Could Clarify FTX’s Relationship to Alameda; Bitcoin Hovers Near $17K
Bitcoin Good morning. Here’s what’s happening: Prices: Bitcoin and other cryptos spent their day in the green as investors relished encouraging inflation data. Insights: How intertwined were FTX and Alameda Research? The answer may soon be forthcoming. BTC/ETH prices per CoinDesk Indices; gold is COMEX spot price. Prices as of about 4 p.m. ET Cryptos See Deep Green as Investors Relish U.S. Inflation Report After rallying on Thursday amid encouraging U.S. inflation data, bitcoin found a happy nesting place near $17,000. The largest cryptocurrency by market capitalization was recently trading at $16,970 a more than 4% gain over the past […]
Tom Brady, Sam Bankman-Fried, and Cryptoworld Lose Big in FTX Meltdown
Cryptocurrency People are losing money — and faith — with crypto. Bloomberg I Getty ImagesSam Bankman-Fried at a crypto event. Sam Bankman-Fried, the previously lauded billionaire and CEO of cryptocurrency exchange FTX, saw his fortune and confidence in his platform tumble after a CoinDesk article revealed that a company he also owned was heavily dependent on an asset without independent value, leading to panic from FTX customers and in the crypto world, in general, this week. One fear was that FTX was not solvent, i.e., that customers would not be able to actually withdraw their coins from the platform. The […]