Coin circle news focus:

  • FTX sues ByBit! Seeking recovery of nearly $1 billion in assets

  • Bitcoin Price Predictions Divergent, Will Plunge Before ETFs?

  • Decentralized stablecoin platform Raft admits "security vulnerability" and suspends issuance plans

The currency circle boss said this:

  • ChainlinkGod: "Chainlink is invincible in the world!"

Critical hit chance this week:

  • The sixth week of activities! Blockchain game platform airdrop ambush.

Prices of Bitcoin and other cryptocurrencies | CoinGecko Top 100 Cryptocurrencies (2023.11.12 AM 08:00 ~ 2023.11.13 AM 08:00

Coin News Focus

FTX sues ByBit! Seeking recovery of nearly $1 billion in assets

The FTX bankruptcy management team is currently formally filing a lawsuit against the well-known global exchange ByBit and its investment arm Mirana, in an attempt to recover the cash and digital assets that ByBit withdrew on the eve of FTX’s collapse. The current total valuation is close to $1 billion.

The lawsuit alleges that ByBit used its "VIP" status with FTX and its close ties to FTX employees to use the accounts of Mirana, Time Research (another ByBit-related organization), and several top executives in the run-up to FTX's collapse. Withdrew hundreds of millions of dollars in cash and digital assets.

The lawsuit also accuses ByBit of restricting the current FTX bankruptcy management team to recover more than $125 million worth of assets from the ByBit exchange, and claims that ByBit continues to use this as leverage in an attempt to earn back the $20 million it failed to withdraw before FTX collapsed. balance.

At present, Bybit has not responded to this accusation, and Chain Trainer will continue to follow it for everyone!

 

Bitcoin Price Predictions Divergent, Will Plunge Before ETFs?

The recent price fluctuations of Bitcoin have caused market discussions about its future trend. Peter Schiff, a well-known gold supporter and long-term Bitcoin skeptic, recently issued a warning about the rising price of Bitcoin. Schiff still believes that the value of Bitcoin will eventually return to zero, and people currently hold Bitcoin just to sell it at a higher price in the future. out.

On the other hand, asset manager AllianceBernstein reported last week that they are optimistic about Bitcoin’s price outlook and predicted that the price high of the next bull cycle will reach $150,000. "We believe that early capital inflows may be slower, but prices gradually increase, and after the halving, capital inflows into ETFs may strengthen, which will make 2025 the peak of this cycle." Analysts said in the report wrote.

 

Decentralized stablecoin platform Raft admits "security vulnerability" and suspends issuance plans

The decentralized stablecoin issuance protocol Raft stated that there is currently a vulnerability in its stablecoin R. Existing users can still repay and get their collateral back. However, the on-chain data agency Wintermute has clearly pointed out that hackers have burned down the Raft platform. Millions of dollars worth of ether.

The current price of stablecoin R has been decoupled and once fell to $0.18. Chain Trainee reminds everyone that stablecoins have their own risks, and mastering asset management and risk control is the only way to survive in the currency industry for a long time.

 

Other currency news

  • 21Shares, supported by Ark Invest, is preparing to apply for as many as five contract funds related to Bitcoin and Ethereum, and new news is expected this week.

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