Crypto News Updates

Alameda Research reportedly withdrew the most funds from FTX US, the U.S. arm of FTX, days before the crypto exchange filed for bankruptcy. The majority of the withdrawn cryptocurrencies were sent to wallets owned by FTX International, “suggesting that Alameda may have been operating to bridge between the two entities,” crypto intelligence firm Arkham said. Alameda’s Withdrawal Analysis From FTX US exchange Crypto intelligence firm Arkham shared an analysis Friday showing that Alameda Research withdrew the most funds from FTX US, the U.S. arm of FTX, days before the crypto exchange collapsed. Arkham tweeted: Arkham analyzed flows from FTX US in the final few days before the collapse, finding that Alameda withdrew the most funds, at $204M. Arkham added that it has identified eight different addresses where Alameda Research transferred the crypto assets it withdrew. The crypto intelligence firm noted that of the $204 million: $142.4M (69.8% of the total) was sent to wallets ow...

Billionaire Bill Ackman has warned that the crypto industry needs to self-police or it risks being shut down. He added that regulators need more resources to police the bad actors in the crypto space and will likely take years to catch up. Bill Ackman on Crypto Regulation and the Need for Industry to Self-Police Billionaire Bill Ackman shared his thoughts on a variety of crypto-related topics, including crypto regulation, in a series of tweets Saturday. Ackman is the CEO and portfolio manager of Pershing Square Capital Management, a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). His current net worth is about $3.5 billion. Regarding cryptocurrency regulation, he said: “I am not sure we need new rules. Much of the fraud that is taking place is old-fashioned pump and dump schemes, and failures of custodians to protect customer assets.” The executive continued: “I suspect that existing anti-fraud and other laws already govern these violations. ...

A recent survey sponsored by the Nasdaq-listed crypto exchange Coinbase shows that institutional investors increased their allocations during the crypto winter. The firm emphasized that there is “a strong signal of the acceptance of crypto as an asset class” and “the price outlook over the long term remains positive.” Coinbase’s Institutional Investor Survey The Nasdaq-listed cryptocurrency exchange Coinbase published Thursday the findings from a survey it sponsored to understand how decision-makers at U.S. institutions view digital assets. The survey was conducted independently by Institutional Investor Custom Research Lab between Sept. 21 and Oct. 27. A total of 140 institutional investors in the U.S. participated in the survey, representing about $2.6 trillion in assets under management. Coinbase was not involved in sourcing the respondents. Coinbase wrote: Institutional investors increased their allocations during the crypto winter, with many using this as an opportunity to ...

The Venezuelan fiat currency, the bolivar, has lost almost 40% in its exchange rate against the U.S. dollar in a month. According to reports, the seasonal payments that the government has to make, and the lack of liquidity of the government to intervene in the currency market are part of the equation leading to this, however, some also include crypto as part of the problem. Venezuelan Currency Takes a Nosedive The Venezuelan currency, the bolivar, has been losing its value at an alarming rate after enjoying a period of relative stability recently. The currency has lost almost a 40% against the U.S. dollar in parallel markets, with citizens being alarmed at the accelerated pace of the devaluation. According to the popular price index Monitordolar , each dollar had a price of 9.05 bolivares on Oct. 25. The exchange rate increased to 12.63 bolivares per dollar on No. 26. There are several explanations for this plunge. According to analysts, this nosedive was expected due to the elevat...

While a large fraction of crypto assets dropped a great deal in value during the past few weeks and bitcoin is down 18.2% in 30 days, the exchange coin ftx token (FTT) still trades above a U.S. dollar per unit. Moreover, the unknown entity known as the ‘FTX Accounts Drainer,’ still holds the second largest FTT wallet with 45.85 million tokens worth $61.44 million. FTT Remains Above $1 per Unit During the Past 2 Weeks Since the FTX Collapse It’s been over two weeks since FTX filed for Chapter 11 bankruptcy protection and on that day, FTT was still trading for $3.46 per unit. 16 days later, FTT’s price has consolidated and during the past 24 hours, FTT’s been trading for prices between $1.33 and $1.39 per unit. In fact, FTT has remained above a single U.S. dollar since Nov. 12, 2022, and it still has not breached the low it saw in September 2019, back when FTT traded for $1.15 per unit. On Sunday, Nov. 27, the exchange token backed by a bankrupt business has around $5.26 million in ...

Tesla CEO and Twitter boss Elon Musk says he will make an alternative phone if Apple and Google boot Twitter from their app stores. Many people want him to go ahead with a phone launch even if Apple and Google do not deplatform Twitter. Elon Musk Could Launch Alternative Phone to Compete With Apple and Google Elon Musk revealed Friday the possibility of him launching his own smartphone, which would compete with iPhone and Android, should Apple and Google deplatform his newly acquired social media company. Twitter user Liz Wheeler suggested that Musk should produce his own smartphone if Apple and Google boot Twitter from their app stores, adding that “Half the country would happily ditch the biased, snooping iPhone & Android.” Musk replied: “I certainly hope it does not come to that, but, yes, if there is no other choice, I will make an alternative phone.” Musk’s plans for Twitter as a free speech platform could put the social media company in conflict with Apple and Google a...

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, is still bullish on bitcoin despite the collapse of crypto exchange FTX. He stressed that the cryptocurrency cannot be blamed for the actions of former FTX CEO Sam Bankman-Fried. Robert Kiyosaki Still Bullish on Bitcoin The author of Rich Dad Poor Dad, Robert Kiyosaki, discussed the FTX collapse and bitcoin with guest Mark Moss on the Rich Dad Radio Show which aired earlier this week. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Moss is a radio host and the author of “Uncommunist Manifesto.” After listening to Moss outlining the problems at FTX and numerous fraudulent actions allegedly conducted by its former CEO Sam Bankman-Fried (SBF), Kiyosaki emphasized: I’m still bullish on bitcoin … Bitco...