FTX plans to sell digital custody to CoinList ☑️

FTX Properties plans to sell its subsidiary Digital Custody Inc (DCI) to cryptocurrency exchange CoinList for $500,000. FTX initially acquired DCI from Terrence Culver for $10 million, a 20-fold difference in selling price. “Pursuant to Section 1.1 of the Agreement, the aggregate purchase price for the Benefits consists of $500,000 in cash, plus the cash buyback amount set forth in Section 1.4 of the Agreement.”

A&M (UCC/Special Consent) stated that this reflects "FTX remains committed to restructuring efforts and moving forward with bankruptcy proceedings." Meanwhile, there is speculation that creditors will soon vote on the proposed plan. However, crypto holders are concerned that the proposed plan would require liquidating a large amount of crypto assets, which could affect the asset's price.

As always, only news updates and no investment opinions 🙏

$FTT

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Since the end of last year, the appeal of meme coin has been growing, with investors flocking in with the hope of getting rich overnight. However, at the beginning of the new year, the market trend seems to have changed. The once popular Solana meme token BONK is currently in trouble, its price has been steadily decreasing since the end of last year and has now entered negative territory. Among the many meme coins, Dogecoin (DOGE) still maintains its leading position. Even though the price has dropped over the past seven days, its $13 billion market capitalization still dominates the crowd. Another major meme token, Shiba Inu (SHIB), is down 2.61% over the past 24 hours, although it has increased slightly over the past seven days.

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Will XRP drop below $0.50 soon?

Ripple's native cryptocurrency XRP has once again fallen below $0.53 amid recent volatility in the cryptocurrency market. During this bearish period, XRP was observed to be heavily sold off by whales. According to data from Whale Alert, a whale sold more than 27 million XRP tokens on the market during recent price fluctuations. The trader transferred the XRP token to Luxembourg-based crypto exchange Bitstamp in a transaction worth $14.57 million.

However, crypto analysts are optimistic about the future direction of XRP, predicting that its price will increase and could even break the $0.50 mark. XRP Captain, a staunch supporter of XRP, has provided an in-depth analysis of the future performance of the Ripple-backed cryptocurrency, arguing that the XRP price will soon rise above $0.50.