Binance appears to be suffering from a decline in liquidity. A report from crypto analytics firm, Nansen, indicates that Binance has had net withdrawals of more than $3.6 Billion from Dec. 7 to Dec. 13. Binance gross outflows have been approximately $8.8 billion, while gross inflows have been around $5.1 billion. Binance Netflow 7D ($) -3,660,311,347 8,783,380,428 – Outflow5,123,069,081 –…
Ether (ETH) rallied 6.3% to $1,350 on Dec. 13, mimicking a similar failed attempt that took place on Nov. 10. Despite reaching the highest level in 33 days, the gains were not enough to instill confidence in traders according to two key derivatives metrics. Ether/USD price index, 12-hour. Source: TradingView Bulls’ frustrations can partially be explained by Binance exchange facing…
Bitcoin Group SE, operator of the German crypto trading platform bitcoin.de, announced that it has acquired 100% of shares in Bankhaus von der Heydt. The bank has a full banking license and is a provider of digital asset custody and tokenization services. According to an announcement released Dec. 12, Bitcoin Group SE has preliminarily proposed to pay bank owner Dietrich…
Bahamas regulators today slammed the recently appointed CEO of collapsed crypto exchange FTX for attempting to “advance questionable agendas.” In a Tuesday statement sent to the press, the Securities Commission of The Bahamas said John J. Ray III, known for recovering funds for failed companies, “made key misstatements” about his handling of the situation. “Mr. Ray has not once reached…
Damian Williams, United States Attorney for the Southern District of New York, said the investigation leading to charges against former FTX CEO Sam Bankman-Fried had been “very, very fast” but prosecutors were “not done” with arrests. In a press conference livestream on Dec. 13, Williams said the timing of the arrest of Bankman-Fried had been based on progress from law…
On Monday, court documents from lawyers involved with the FTX Trading LTD Chapter 11 bankruptcy case allege that the government of The Bahamas asked the disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint new crypto tokens. The lawyers detailed that it was a “request for live, dynamic access that would be provided immediately to the government of the Bahamas and…
In a recent blog post, cryptocurrency legend and former BitMEX CEO Arthur Hayes mentioned he holds sizable bags of GMX and LOOKS tokens. According to Hayes, his main reasoning for investing in both tokens was their platform revenue and the potential of both assets to outperform standard treasury bills. Let’s take a brief look at on-chain data and compare GMX…
Behemoth crypto exchange Binance has seen massive withdrawals in the past week and—on Tuesday—the highest amount of one-day withdrawals since June, Nansen data has revealed. Binance’s international arm saw over $8.78 billion leave its exchange and $5.1 billion in incoming funds, meaning the exchange faced a net outflow of roughly $3.66 billion. While such data only refers to Binance’s Ethereum…
A day after former FTX Chief Executive Sam Bankman-Fried was arrested in the Bahamas, United States Attorney for the Southern District of New York Damian Williams provided insight into the charges levied against him. Earlier today, Bankman-Fried’s indictment was unveiled by the attorney’s office, revealing the disgraced crypto entrepreneur has been charged with eight crimes, including wire fraud and conspiracy…
According to local sources, on Dec. 13, crypto executive Sam Bankman-Fried’s (SBF) lawyers have requested bail in a Bahamas’ Magistrate Court after his arrest on Dec. 12 pending extradition request by U.S. authorities. The move comes after presiding judge Chief Magistrate JoyAnn Ferguson-Pratt stated earlier todaythat SBF had the right to request bail. In supporting the decision, the defense counsel…
