As the FTX bankruptcy case and fraud charges against co-founder Sam Bankman-Fried continue to unfold, the value of the exchange’s token, FTX Token (FTT), has seen significant growth. Since Jan. 9, 2023, FTT has risen 28.42% and currently sits above the $1 range, following a dip below that threshold. FTT Token Jumps 28% Rising Above the $1 Threshold The value…
The Swedish Financial Supervisory Authority, one of the country’s financial regulatory agencies, has granted the local arm of crypto exchange Binance approval to manage and trade digital currencies. According to a Jan. 11 announcement, Binance said following “months of constructive engagement” with the financial regulator, the Swedish FSA granted Binance Nordics AB registration status on Jan. 10. This decision effectively…
Hong Kong’s securities watchdog, the Securities and Futures Commission (SFC), announced plans to propose a subset of tokens it would allow for retail investors’ trading, according to a report from Reuters, as it continues to establish a new regulatory regime for the city. The move, announced at this year’s Asian Financial Forum, aims to make Hong Kong more friendly to…
Cosmos rallied to a two-month high on Thursday, as cryptocurrency prices rebounded following Wednesday’s decline. Xrp was also mostly in the green in today’s session, extending recent gains in the process. The global crypto market cap is trading 0.17% higher as of writing. Cosmos (ATOM) Cosmos (ATOM) raced to a two-month high on Wednesday, as the token climbed to its…
Hardware wallet company Ledger is adding a blockchain game, Cometh Battle, to its Ledger Live app, the company announced Wednesday. The firm’s software app—designed to provide a more robust interface for users to view their holdings and manage cryptocurrencies like Bitcoin and Ethereum—will now also let users play a Web3 game. Cometh Battle is a free-to-play sci-fi digital card game that…
Kyle Davies, the co-founder of bankrupt hedge fund Three Arrows Capital (3AC), disclosed in a Twitter thread that the first meeting of 3AC creditors was held on Jan. 11. Davies invited all creditors to join the group and announced that it would meet regularly. According to Davies, creditors continue to express frustration with the ongoing costs and handling of assets…
Bitcoin (BTC) faces a “bottoming candle” in 2023, but BTC price action is still more than able to surprise the market. In a tweet on Jan. 11, popular trader and analyst Rekt Capital predicted that BTC/USD could see “decent upside” this year. Chart teases serious Bitcoin upside potential Analyzing Bitcoin’s four-year market cycles around block subsidy halving events, Rekt Capital…
Barry Silbert, CEO of Digital Currency Group (DCG), has released a letter to shareholders in response to a recent open letter from Gemini CEO Cameron Winklevoss. The letter, issued Tuesday by Winklevoss, calls for the DCG board to force Silbert to step down as CEO. Silbert shared his letter on Twitter and said he had been reflecting deeply over the…
A Bitcoin Lightning Network node (BTC) has struck the earth in one of the most challenging operating environments. Lagos, the capital of Africa’s most populous country, Nigeria, welcomed a new Bitcoin Lightning node this week, a vital step to better connect the continent to the layer-2 payments network atop Bitcoin, the Lightning Network (LN). The node runs on an old…
The FTX restructuring team has recovered more than $5 billion in cash, liquid cryptocurrency, and liquid investments in securities, FTX’s lead attorney Adam Landis said on Wednesday morning at a court hearing in Delaware. The assets recovered also include “dozens of illiquid cryptocurrency tokens,” and Landis noted that the “holdings are so large relative to the total supply that our…
