Bankrupt crypto exchange FTX will be liquidating its crypto assets worth $3.4 billion. This has caused a lot of uncertainty and fear in the crypto market, especially for Solana (SOL), which is one of the main assets held by FTX. Solana’s price fell by 7% yesterday after some rumors circulated about the situation.
Author: jose
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The cryptocurrency market experienced a turbulent month in August, as prices and trading volumes declined across the board. According to a report by CCData, a digital assets data provider, the combined spot and derivatives trading volume fell 11.5% to $2.09 trillion, the lowest level since October 2020.
The founder and former CEO of Thodex, a Turkish cryptocurrency exchange that collapsed in 2021, has been sentenced to more than 11,000 years in prison for fraud and money laundering.
Binance, the world’s largest cryptocurrency exchange, has released its latest proof-of-reserves report, which shows that it holds enough crypto assets to back all customer deposits. However, the report only lists the reserves for 10 tokens, out of the hundreds of tokens that are traded on the platform.
ARK Invest and 21Shares, two leading asset managers in the crypto space, have filed for the first spot in Ether ETFs in the US market. The proposed exchange-traded funds (ETFs) would directly hold Ether (ETH), the second-largest cryptocurrency by market cap, and track its price movements.
Binance, the world’s largest crypto exchange, has announced that it will delist 20 spot trading pairs, including some involving Cardano (ADA) and Polygon (MATIC). The move comes amid increasing regulatory pressure and legal challenges from the U.S. authorities.
Coinbase, one of the largest cryptocurrency exchanges in the world, has recently launched a new crypto lending service geared towards large investors. The service allows institutional investors to earn interest on their crypto holdings by lending them out to other investors.
The stablecoin market has witnessed a major shift as TUSD, a fiat-backed token issued by TrustToken, has overtaken BUSD, a similar token issued by Paxos in partnership with Binance, in terms of market supply. This is the first time that TUSD has surpassed BUSD since the latter’s launch in 2019.
Solana, a blockchain platform that claims to offer fast, scalable, and low-cost transactions, has emerged as the top choice for altcoin investors in 2023. According to a report by CoinShares, a digital asset investment firm, Solana investment products have seen $26 million worth of inflows since the start of the year, outperforming all other altcoins including Ethereum.
Anatoly Yakovenko, the co-founder of Solana, a blockchain platform that rivals Ethereum, has proposed a solution for the millions of SOL tokens that are still held by FTX, the bankrupt crypto exchange. He suggests that the tokens should be distributed to the former customers of FTX, who lost their funds when the exchange collapsed last year.
