InvestmentTradingUpdates

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2022-10-27 09:48:02 FTX records largest short liquidation event in its history

Cryptocurrency exchange FTX hit a new record of over $936.24 million in short liquidations. This development, as reported, is the single largest liquidation event ever recorded by the exchange since its emergence in 2019. Notably, FTX edged past its contemporaries by a very wide margin. It is being trailed by Binance, which recorded $57.58 million, and OKX, with $46.72 million.

According to figures from the last 24 hours, the general crypto market recorded liquidations of about $1.1 billion on short trades, or stakes against price rises, reaching its highest since July 2021. Just on BTC, short liquidations were $280 million on Oct. 25 and a further $300 million of BTC shorts were liquidated on Oct. 26. Notably, these liquidations reportedly contributed to a short squeeze, as numerous tokens saw a rise in prices within the last 24 hours.

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2022-10-26 10:30:32 The Crypto Industry is Not Decentralized: SEC Chairman

Gary Gensler said that crypto exchanges are developing network effects that make them highly dominant players, like in other financial markets. Gary Gensler – chairman of the Securities and Exchange Commission (SEC) – said on Monday that crypto markets are, ironically, not decentralized.

According to the chairman’s prepared remarks at the Securities Industry and Financial Markets Association’s annual meeting, central intermediaries in financial markets tend to benefit from “scale, network effects, and access to valuable data.”. As the chairman noted, merely four asset managers in the U.S. now control over 80% of total assets held in U.S.registered investment company index funds. Equity market makers responsible for handling retail market orders are also trending towards centralization.

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2022-10-25 04:33:02 CFTC and SEC chairs may disagree over whether ether is a security

The head of the Commodity Futures Trading Commission, Chair Rostin Behnam, suggested on a panel this morning that he and Securities and Exchange Commission Chair Gary Gensler may not see eye-to-eye on the cryptocurrency's definition, which would determine which agency has more power over it.

Behnam also noted that, while the SEC and CFTC are both members of the Financial Stability Oversight Council, that council focused on systemic stability rather than defining jurisdictions in recommending Congress grant regulators expanded oversight and rulemaking power in digital asset spot markets. Behnam and Gensler both sit on the super committee of regulators, which Behnam described as not the place.

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2022-10-24 04:15:03 Bitcoin will shoot over $100K in 2023 before 'largest bear market'

New all-time highs are closer than many might think, says Credible Crypto, but so is a brutal bear market unlike any other.In a Twitter discussion on Oct. 22, Credible Crypto endorsed a theory that Bitcoin’s next halving will also see macro lows of just $10,000.

With consensus calling for Q4 2022 to match the end of the 2018 Bitcoin bear market, few are in the mood to call a trend change. While a bold prediction from LookIntoBitcoin creator Philip Swift recently gave the current bear market just months to live, most commentators continue to target new lows. For Credible Crypto, however, the really interesting territory lies further ahead — but 2023 will constitute a major turning point.

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2022-10-23 07:58:02 American Rapper Lil Baby Admits Losing Millions to Crypto

Lil Baby, a renowned American Rapper, admitted to losing millions in crypto investments during a recent interview.Grammy-nominated artist Lil Baby revealed his losses during a discussion with music journalist Sway on his radio program Sway’s Universe. The discussion largely focused on how the young rapper had matured since rising to fame.

Lil Baby is not the only celebrity to have been burned by bad cryptocurrency investments. While many celebrities were able to prosper during the boom in non-fungible tokens, others cashed out a bit too late. Earlier this week, Brazilian football star Neymar realized a loss of $700,000 on NFTs he purchased earlier this year. In January, the Paris St-Germain forward purchased a pair of Bored Ape Yacht Club NFTs for roughly $1 million. Neymar even sported one of them as the profile picture on his Twitter account.

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2022-10-22 10:23:02 Bitcoin Group considering buying centuries-old German bank: Bloomberg Law

Bitcoin Group SE, a crypto-focused investment holding company based in Germany, is reportedly considering purchasing local bank Bankhaus von der Heydt. Bloomberg Law reported the news on Thursday, citing people familiar with the matter.

Bankhaus von der Heydt is the same bank crypto exchange operator BitMEX planned to acquire in January of this year, but the deal fell through in March after the two parties reportedly mutually agreed to call off the acquisition. The reasons were unknown, but the deal was subject to the approval of German financial regulator BaFin. The sale could value the bank at around €20 million ($19.6 million), according to the report.

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2022-10-20 13:50:03 Bitcoin Added to the Guinness Book of World Records as the 'First Decentralized Cryptocurrency'

Since 1955 Guinness World Records (GWR) has published a reference book annually that covers world records from extreme natural events to human achievements. This year, Bitcoin has entered the fray as the world’s first and most valuable cryptocurrency network as GWR has added the subject to this year’s annual records.

Satoshi Nakamoto’s cryptocurrency and blockchain network, Bitcoin, has received a number of accolades over the years, and it’s been recognized by mainstream media sources and traditional mediums. For instance, in 2016, the word “bitcoin” was added to the Merriam-Webster Unabridged Dictionary, and two years later it entered the Scrabble lexicon. This year, Guinness World Records (GWR) has given recognition to Satoshi Nakamoto’s invention as bitcoin is considered the “first decentralized cryptocurrency.”

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2022-10-19 09:09:03 Thousands of Bitcoin leave Coinbase for the first time since June

Roughly 50,000 Bitcoin (BTC) were withdrawn from Coinbase on Oct. 18, making it the first time since June that such a massive amount of the flagship token has left the exchange. The chart below demonstrates the Bitcoin withdrawals from Coinbase since the beginning of the year with the orange line.

According to the chart, Coinbase has been steadily losing its Bitcoin reserves since late March. Withdrawals only accelerated after the Terra-Luna crash, which led to the coldest winter in crypto history. This left Coinbase with around 525,000 Bitcoins in its reserve — 22% lower than the nearly 680,000 Bitcoins it held at the beginning of the year. The chart above represents the Bitcoin balances held by all crypto exchange platforms, and it shows a steady decrease since the beginning of the year, in parallel with Coinbase.

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2022-10-18 10:22:02 Cardano bug reportedly allows nodes to illegally manipulate transaction orders

Stake pool operators (SPOs) in Cardano (ADA), according to the co-founder of Adahandle and the operator of Blade Pool, one of SundaeSwap’s Scoopers, may potentially circumvent transaction ordering in the blockchain’s Mempool and thus prioritize certain transactions.As a response to a tweet that was posted on October 16 by $conread, who claimed that he had tested and proven that SPOs could.

Cardano is built on a transaction processing architecture in which transactions may be processed based on the fees the sender is prepared to pay. On Cardano, a user creates a transaction on their Cardano client software, which is then disseminated to all other nodes and forms part of the blockchain. This reportedly is a vulnerability, making it a potential attack vector that causes price manipulation. Apparently, this could be used to deny someone financial access because of a blacklisted AdaHandle, according to $conrad.

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