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Ethereum Rival Solana Is Back—Experts Say It's No Surprise
Solana is once again the talk of crypto, and its native coin SOL is benefiting from the attention. The price of SOL is up over 9% today, hitting a 24-hour high of $44.41. Over the past 30 days, it has exploded in value by over 88%, according to CoinGecko—making it the biggest winner of all the major cryptocurrencies. And despite its association with the collapsed FTX crypto exchange and its criminally convicted founder Sam Bankman-Fried, experts say Solana’s recent rise shouldn’t come as a shoc...
#EthereumNFT #BBW2023 #FTX's
Solana is once again the talk of crypto, and its native coin SOL is benefiting from the attention. The price of SOL is up over 9% today, hitting a 24-hour high of $44.41. Over the past 30 days, it has exploded in value by over 88%, according to CoinGecko—making it the biggest winner of all the major cryptocurrencies. And despite its association with the collapsed FTX crypto exchange and its criminally convicted founder Sam Bankman-Fried, experts say Solana’s recent rise shouldn’t come as a shoc...
#EthereumNFT #BBW2023 #FTX's
FTX Token (FTT) Shows Impressive Growth in the Last 30 Days
With the impact of the crises on the Binance exchange, FTX Token (FTT) experienced a remarkable increase of 296.17% from its price of $1.05 on October 22.
Will FTT Coin Rise?
In the past 24 hours, FTT, the local token of the FTX exchange that has fallen out of favor in the past due to the crisis, experienced a significant value and price increase of up to 45% thanks to the events and recent developments at its major competitor, Binance.
At the time of writing, FTT was trading at $4.26, indicating an impressive positive increase of 43.24% in the last 24 hours, and a 21.08% increase in the last 7 days.
The price increase in FTT also means that it has outperformed 89% of the top 100 crypto assets in the past year. Additionally, FTT remained in the positive zone for 18 days during the previous 30-day period and managed to trade above the 200-day moving average at the same time.
Despite all these price movements, it is still -95% below its all-time high of $84 at some point.
Is FTT Replacing BNBs?
The value increase is associated with positive sentiments towards FTT. In addition, the upward price movement indicates that investors are replacing Binance Coins (<a href="https://en.coin-turk.com/renowned-analyst-forecasts-significant-upswing-for-binance-coin-bnb-and-possible-market-downturns/”>BNB) with FTT after regulatory problems increased at Binance.
In response to Binance’s suspension of its operations in the US, it seems that some funds are investing in FTX Token, according to a post by Santiment on November 22.
The behavior analysis platform made the following statement:
Although many people see #Binance news as the main culprit of one of the biggest pullbacks of the year, the truth is that #altcoins have already seen declining market values. Interestingly, some traders seem to be swapping their $BNBs with @FTX_Official’s $FTTs.
Despite FTX cryptocurrency derivatives exchange filing for bankruptcy in November 2022 after the crisis and the recent legal decisions against its founder and owner, Sam Bankman-Fried, FTT seems to be experiencing a price increase in recent times.
Another development believed to be profitable for FTT is the legal process initiated against Changpeng Zhao, the former CEO of its rival Binance, who resigned after yesterday’s crisis.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#FTX's #ftx $FTT
Will FTT Coin Rise?
In the past 24 hours, FTT, the local token of the FTX exchange that has fallen out of favor in the past due to the crisis, experienced a significant value and price increase of up to 45% thanks to the events and recent developments at its major competitor, Binance.
At the time of writing, FTT was trading at $4.26, indicating an impressive positive increase of 43.24% in the last 24 hours, and a 21.08% increase in the last 7 days.
The price increase in FTT also means that it has outperformed 89% of the top 100 crypto assets in the past year. Additionally, FTT remained in the positive zone for 18 days during the previous 30-day period and managed to trade above the 200-day moving average at the same time.
Despite all these price movements, it is still -95% below its all-time high of $84 at some point.
Is FTT Replacing BNBs?
The value increase is associated with positive sentiments towards FTT. In addition, the upward price movement indicates that investors are replacing Binance Coins (<a href="https://en.coin-turk.com/renowned-analyst-forecasts-significant-upswing-for-binance-coin-bnb-and-possible-market-downturns/”>BNB) with FTT after regulatory problems increased at Binance.
In response to Binance’s suspension of its operations in the US, it seems that some funds are investing in FTX Token, according to a post by Santiment on November 22.
The behavior analysis platform made the following statement:
Although many people see #Binance news as the main culprit of one of the biggest pullbacks of the year, the truth is that #altcoins have already seen declining market values. Interestingly, some traders seem to be swapping their $BNBs with @FTX_Official’s $FTTs.
Despite FTX cryptocurrency derivatives exchange filing for bankruptcy in November 2022 after the crisis and the recent legal decisions against its founder and owner, Sam Bankman-Fried, FTT seems to be experiencing a price increase in recent times.
Another development believed to be profitable for FTT is the legal process initiated against Changpeng Zhao, the former CEO of its rival Binance, who resigned after yesterday’s crisis.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#FTX's #ftx $FTT
Bitcoin Dips 7%—Heading Toward Largest Single-Day Drop Since August 2022
By midafternoon, #Bitcoin had dropped over 7% and was trading near $43,000.
According to Yahoo Finance data, that would be the largest daily loss for bitcoin since August and the second-worst day since November 2022 after #FTX's collapse (bitcoin trades constantly and daily movements are normally reported on Greenwich Mean Time).
#BTC $BTC #cryptoniteuae
By midafternoon, #Bitcoin had dropped over 7% and was trading near $43,000.
According to Yahoo Finance data, that would be the largest daily loss for bitcoin since August and the second-worst day since November 2022 after #FTX's collapse (bitcoin trades constantly and daily movements are normally reported on Greenwich Mean Time).
#BTC $BTC #cryptoniteuae
1. **#FTX Administrators' Response:** FTX's #bankruptcy administrators have countered criticism from the unsecured creditors' committee regarding the reorganization plan, accusing them of prioritizing higher returns over estate asset preservation.
2. **Disagreements and Concerns:** Frictions arose over #FTX's reorganization plan submission, with creditors alleging neglect of their suggestions. The administrators emphasized their collaborative efforts and expressed concerns about creditors' #risky #investment expectations while highlighting the limitations of the committee's representation.
2. **Disagreements and Concerns:** Frictions arose over #FTX's reorganization plan submission, with creditors alleging neglect of their suggestions. The administrators emphasized their collaborative efforts and expressed concerns about creditors' #risky #investment expectations while highlighting the limitations of the committee's representation.
FTX Attacker Shifts Bitcoin (BTC) in Most Sinister Way
#Launchpool Sam Bankman-Fried's #exchange attacker has moved another $12 million worth of BitcoinDisclaimer: 🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice. In a startling update, the #FTX's attacker has once again made headlines as they shifted another $12 million in Bitcoin (#BTC ) in what can be described as a sinister move. FTX attacker’s crypto mixer tactics#blockchain analytical platform Arkham Intelligence revealed the latest development on X, raising concerns within the crypto community. According to Arkham, the attacker is expected to deposit the moved funds into crypto mixers, a method that adds a layer of complexity to tracking illicitly obtained assets.Arkham Intelligence noted that during the last Bitcoin transfer on Jan. 6, the attacker had mixed over $600 million worth of BTC. At the time, almost all of the stolen BTC was shifted out of the attacker’s known accounts, leaving only 1.5 BTC behind.The use of crypto mixers adds a layer of anonymity to illicit transactions, making it challenging for authorities and blockchain analysts to trace the origin and destination of the funds. The attacker's utilization of this technique raises concerns about the increasing sophistication of malicious actors within the crypto space.Thorchain and cross-chain swapsIn a previous incident reported last year, the FTX attacker allegedly transferred around $8 million in Ethereum (ETH) to BTC using Thorchain, a decentralized exchange facilitating cross-chain swaps. This method allowed the hacker to convert the ETH holdings into BTC, showcasing a level of sophistication in their tactics.For those unfamiliar with the situation, FTX suffered a major security breach on Nov. 11, resulting in unauthorized withdrawals amounting to approximately $600 million. The attack raised suspicions of being an inside job, as it occurred shortly after the firm filed for bankruptcy protection and founder Sam Bankman-Fried stepped down from his role as CEO.The ongoing drama of the FTX attacker highlights the challenges faced by the crypto community in combating sophisticated threats. The use of crypto mixers and cross-chain swaps adds complexity to tracking illicit transactions, highlighting the need for enhanced security measures and regulatory frameworks within the crypto space.
In response to legal issues, the Solana community explores a potential hard fork.
The hard fork idea has caused strife in the neighbourhood.
Future plans for #Solana are clouded by SEC enforcement actions and #FTX's insolvency.
As Solana's blockchain experiences issues on all fronts, the community is debating taking severe action. A hard fork might theoretically free Solana from legal issues and its FTX ties, but it would split the blockchain and its community.
The Solana #community was in disarray following the #SEC's designation of Solana as a #security and the Foundation's lacklustre response. Many people in the community are searching for a magic solution to resolve Solana's problems as the token's price falls.
The hard fork idea has caused strife in the neighbourhood.
Future plans for #Solana are clouded by SEC enforcement actions and #FTX's insolvency.
As Solana's blockchain experiences issues on all fronts, the community is debating taking severe action. A hard fork might theoretically free Solana from legal issues and its FTX ties, but it would split the blockchain and its community.
The Solana #community was in disarray following the #SEC's designation of Solana as a #security and the Foundation's lacklustre response. Many people in the community are searching for a magic solution to resolve Solana's problems as the token's price falls.
#The.bankrupt.stock exchange will return soon and return billions to creditors.
_#FTX's reorganization plans are well underway and the team now plans to end the bankruptcy soon. The team is reportedly involved in the latest round of discussions regarding the disbursement of $1 billion in funds to affected customers and creditors. FTX Reorganization Plan In an important development, #FTX.Trading.Ltd . has revealed... About its latest proposals, which outline plans to return billions of dollars to customers and creditors. This move begins the final phase of discussions regarding resolving the bankruptcy case surrounding the #cryptocurrency company. Which was marred by fraud issues. However, many important questions remain unanswered within the reorganization plan. Which raises doubts about the possibility of reviving FTX's bankrupt cryptocurrency trading platform. The valuation methodology for some digital tokens, and the expected returns to creditors.
The creditors' vote is scheduled to take place next year. The plan is expected to undergo further refinement, with additional key details likely to be included. Final approval will be obtained from US Bankruptcy Judge John Dorsey after a creditor vote. It is worth noting that the major creditor and client groups involved in the Chapter 11 case have reached consensus on the general outlines of the plan. The proposed payment strategy is designed to distribute billions of dollars in cash. Provided that a significant portion of the company's cryptocurrencies are liquidated. The ongoing developments in the bankruptcy case will undoubtedly be closely watched by stakeholders and the broader cryptocurrency community.
#FollowUsNow To see more breaking news 💯💵✅🚀
_#FTX's reorganization plans are well underway and the team now plans to end the bankruptcy soon. The team is reportedly involved in the latest round of discussions regarding the disbursement of $1 billion in funds to affected customers and creditors. FTX Reorganization Plan In an important development, #FTX.Trading.Ltd . has revealed... About its latest proposals, which outline plans to return billions of dollars to customers and creditors. This move begins the final phase of discussions regarding resolving the bankruptcy case surrounding the #cryptocurrency company. Which was marred by fraud issues. However, many important questions remain unanswered within the reorganization plan. Which raises doubts about the possibility of reviving FTX's bankrupt cryptocurrency trading platform. The valuation methodology for some digital tokens, and the expected returns to creditors.
The creditors' vote is scheduled to take place next year. The plan is expected to undergo further refinement, with additional key details likely to be included. Final approval will be obtained from US Bankruptcy Judge John Dorsey after a creditor vote. It is worth noting that the major creditor and client groups involved in the Chapter 11 case have reached consensus on the general outlines of the plan. The proposed payment strategy is designed to distribute billions of dollars in cash. Provided that a significant portion of the company's cryptocurrencies are liquidated. The ongoing developments in the bankruptcy case will undoubtedly be closely watched by stakeholders and the broader cryptocurrency community.
#FollowUsNow To see more breaking news 💯💵✅🚀
Solana Surpasses Ethereum in Daily Users Amid The Recovery.
According to Artemix's data, #Solana📈🚀🌐 , which has shown a significant change in the cryptocurrency world, has recently surpassed Ethereum in terms of the number of daily active users. Solana's user count grew from just over 200,000 on November 7 to 356,300 on November 11. This increase put Solana ahead of Ethereum, which had 330,000 users on the same day.
The increase in Solana's user base comes after a turbulent period for the digital asset. The cryptocurrency experienced a dramatic 96% drop in price between November 2021 and January 2022, falling from its peak of $250 to below $10. This decline was largely attributed to the broader bear market and the high-profile bankruptcy of cryptocurrency exchange FTX.
Despite these challenges, Solana has shown strong signs of recovery. As reported by DeFi Llama, its price has increased by 145% in the last four weeks, while the total value locked (TVL) on DeFi protocols has witnessed a 62% increase. Factors contributing to this recovery include the "firedancer" upgrade to the Solana network and easing fears of a potential sale of #SOL by #FTX's estate.
In addition to these improvements in network performance and asset value, Solana's non-fungible token (NFT) market has also seen a significant increase. Crypto Slam reported a 35% increase in #NFT sales volume last month.
While Solana's recent metrics are impressive, Ethereum continues to maintain a larger overall user base considering Layer 2 networks. Token Terminal data shows that #Ethereum has more than 800,000 users on these networks and is responsible for 80% of the activity in its ecosystem, according to L2beat.
$BTC $ETH $SOL
According to Artemix's data, #Solana📈🚀🌐 , which has shown a significant change in the cryptocurrency world, has recently surpassed Ethereum in terms of the number of daily active users. Solana's user count grew from just over 200,000 on November 7 to 356,300 on November 11. This increase put Solana ahead of Ethereum, which had 330,000 users on the same day.
The increase in Solana's user base comes after a turbulent period for the digital asset. The cryptocurrency experienced a dramatic 96% drop in price between November 2021 and January 2022, falling from its peak of $250 to below $10. This decline was largely attributed to the broader bear market and the high-profile bankruptcy of cryptocurrency exchange FTX.
Despite these challenges, Solana has shown strong signs of recovery. As reported by DeFi Llama, its price has increased by 145% in the last four weeks, while the total value locked (TVL) on DeFi protocols has witnessed a 62% increase. Factors contributing to this recovery include the "firedancer" upgrade to the Solana network and easing fears of a potential sale of #SOL by #FTX's estate.
In addition to these improvements in network performance and asset value, Solana's non-fungible token (NFT) market has also seen a significant increase. Crypto Slam reported a 35% increase in #NFT sales volume last month.
While Solana's recent metrics are impressive, Ethereum continues to maintain a larger overall user base considering Layer 2 networks. Token Terminal data shows that #Ethereum has more than 800,000 users on these networks and is responsible for 80% of the activity in its ecosystem, according to L2beat.
$BTC $ETH $SOL
FTX Receives Court Approval to Sell Its Assets in Grayscale.
#FTX , the cryptocurrency exchange that declared bankruptcy last year, received approval from the bankruptcy court to sell its assets in Grayscale.
According to Bloomberg, #FTX plans to repay its receivables by selling funds that currently amount to $873 million. The trustee team managing FTX's bankruptcy process has recovered approximately $7 billion in assets over the past year. According to bankruptcy court documents, $3.4 billion of the company's collected assets are held in cryptocurrency. Finally, FTX's move to sell its assets in digital asset management manager Grayscale appears to be a critical step in fulfilling the obligations of the company in the bankruptcy process.
While #FTX officials offer a plan to sell their assets in Grayscale efficiently and without decreasing their value, it is stated that they will avoid making high-volume moves that will affect the market in the sale of assets. On the other hand, while the GBTC share in FTX's account was valued at $744 million in the court document at the beginning of the month, it was reported that it increased to $870 million after the increase in value this month.
FTX, which was the second largest cryptocurrency exchange in the crypto market before going bankrupt last year, had to announce its bankruptcy due to rapid fund outflows after the gaps in its balance sheet leaked to the market. FTX's founder, Sam Bankman-Fried, is on trial, along with the company's subsidiary Alameda Research, on charges ranging from misusing customer funds to fraud.
While the company, which was appointed to trustee after #FTX's bankruptcy application, has successfully managed the process so far, the recent developments that the crypto exchange may be reactivated excited the market. FTT, the local asset of the stock exchange, which recorded a rapid rise during this period, rose to 5.5 dollars with a value increase of up to 350% in the first days of November.
$BTC $FTT
#FTX , the cryptocurrency exchange that declared bankruptcy last year, received approval from the bankruptcy court to sell its assets in Grayscale.
According to Bloomberg, #FTX plans to repay its receivables by selling funds that currently amount to $873 million. The trustee team managing FTX's bankruptcy process has recovered approximately $7 billion in assets over the past year. According to bankruptcy court documents, $3.4 billion of the company's collected assets are held in cryptocurrency. Finally, FTX's move to sell its assets in digital asset management manager Grayscale appears to be a critical step in fulfilling the obligations of the company in the bankruptcy process.
While #FTX officials offer a plan to sell their assets in Grayscale efficiently and without decreasing their value, it is stated that they will avoid making high-volume moves that will affect the market in the sale of assets. On the other hand, while the GBTC share in FTX's account was valued at $744 million in the court document at the beginning of the month, it was reported that it increased to $870 million after the increase in value this month.
FTX, which was the second largest cryptocurrency exchange in the crypto market before going bankrupt last year, had to announce its bankruptcy due to rapid fund outflows after the gaps in its balance sheet leaked to the market. FTX's founder, Sam Bankman-Fried, is on trial, along with the company's subsidiary Alameda Research, on charges ranging from misusing customer funds to fraud.
While the company, which was appointed to trustee after #FTX's bankruptcy application, has successfully managed the process so far, the recent developments that the crypto exchange may be reactivated excited the market. FTT, the local asset of the stock exchange, which recorded a rapid rise during this period, rose to 5.5 dollars with a value increase of up to 350% in the first days of November.
$BTC $FTT
🚀 𝗙𝗧𝗫 𝗶𝘀 𝗕𝗮𝗰𝗸? 🚀
SEC's Gensler Gives Green Light with a Catch!
Gary Gensler has given the nod for FTX's return, but there's a crucial condition – strict adherence to US laws. After a tumultuous past with price manipulation and fund misuse, FTX is on the road to redemption.
💡 Key Developments Needed:
1️⃣ Customer Compensation Plan
2️⃣ Former Customer Account Access Restoration
3️⃣ Surge in Token Purchases vs. Sales
While FTX remains on major platforms, a true resurgence requires these steps. Volume indicates caution, with more buying needed. As we await concrete moves, tread carefully and expect resistance tests.
🤔 To Hold or Not to Hold:
FTT is a dilemma due to past insecurities. Learn from Luna's minimal compensation scenario. Navigating the crypto sea demands caution, especially with tokens linked to market turbulence. Remember, our financial journey is shaped by the choices we make.
Stay informed, stay cautious! 🌐💰
NFA DYOR 🤝
$FTT #ftx #FTXRevival #FTX's
SEC's Gensler Gives Green Light with a Catch!
Gary Gensler has given the nod for FTX's return, but there's a crucial condition – strict adherence to US laws. After a tumultuous past with price manipulation and fund misuse, FTX is on the road to redemption.
💡 Key Developments Needed:
1️⃣ Customer Compensation Plan
2️⃣ Former Customer Account Access Restoration
3️⃣ Surge in Token Purchases vs. Sales
While FTX remains on major platforms, a true resurgence requires these steps. Volume indicates caution, with more buying needed. As we await concrete moves, tread carefully and expect resistance tests.
🤔 To Hold or Not to Hold:
FTT is a dilemma due to past insecurities. Learn from Luna's minimal compensation scenario. Navigating the crypto sea demands caution, especially with tokens linked to market turbulence. Remember, our financial journey is shaped by the choices we make.
Stay informed, stay cautious! 🌐💰
NFA DYOR 🤝
$FTT #ftx #FTXRevival #FTX's
FTX Token Price Rallies 230% in 30 Days, Is It Better To Buy This Community-Driven Exchange Instead?
The cryptocurrency market never ceases to amaze, with the FTX Token (FTT) recently rallying a whopping 230% in the span of 30 days. This remarkable surge has left many investors and traders questioning whether it’s time to buy back into the FTX exchange or if there’s a better option out there, like investing in a community-driven exchange such as Pullix.io.
FTX Token (FTT) Makes a Striking Comeback
FTX Token’s rapid price escalation follows the potential news of FTX considering reopening its doors. The attorneys from Sullivan & Cromwell shared in a court hearing that FTX, navigating through bankruptcy, might let creditors convert their holdings into a stake in a new version of the exchange. This news spurred a significant price rally for FTX Token, more than doubling in value and injecting a dose of optimism into the token’s future.
Following this revelation, the token surged to $4.17, marking a staggering 230.34% increase in just one month. This impressive monthly performance has put the token on a 212.87% rise over the past year.
The FTX Token’s sharp increase comes amid revelations of FTX’s potential revival. The exchange, currently navigating bankruptcy proceedings, has hinted at allowing creditors to convert holdings into stakes in a reimagined platform. This news propelled the FTX Token’s value to more than double, igniting a flurry of market activity as traders reassess the FTX Token’s future viability.
Recovering from its spectacular collapse, FTX has made headway in asset recovery, with its attorneys announcing a jump from $1.9 billion to $7.3 billion in liquid assets. Despite this progress, the exchange is clear that it remains a long way from any equity distribution. Yet, FTX Token’s price movement is a strong indicator of the market’s reaction to the possibility of FTX’s comeback, with FTX Token investors eagerly watching the developments.
Is Pullix.io: A Viable Alternative?
In light of FTX Token’s surge, investors are exploring alternatives like Pullix, a community-driven exchange paving the way for a new era in TradeFi. Pullix.io stands out with its innovative token burn feature, aiming to reduce the total supply of its native token, PLX, to enhance its value. This feature, along with the promise of daily revenue sharing with PLX holders, positions Pullix.io as an attractive investment compared to the uncertainty surrounding FTX Token.
Pullix.io’s approach offers a stark contrast to the traditional exchange model. It provides investors with a sense of security and belonging, with its model ensuring that every PLX holder has a stake in the platform’s success. As Pullix prepares for its launch, the excitement around its community-focused model could very well position PLX as a smart investment choice, particularly for those wary of the turbulence surrounding FTX Token.
With FTX Token’s recent performance and the potential of Pullix.io, investors face a choice: take a chance on FTX Token’s newfound momentum or opt for the community-oriented, innovative platform that Pullix.io promises to be.
This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
#FTXRevival #FTX's #FTXUpdate #topnews #TopCryptoNews
FTX Token (FTT) Makes a Striking Comeback
FTX Token’s rapid price escalation follows the potential news of FTX considering reopening its doors. The attorneys from Sullivan & Cromwell shared in a court hearing that FTX, navigating through bankruptcy, might let creditors convert their holdings into a stake in a new version of the exchange. This news spurred a significant price rally for FTX Token, more than doubling in value and injecting a dose of optimism into the token’s future.
Following this revelation, the token surged to $4.17, marking a staggering 230.34% increase in just one month. This impressive monthly performance has put the token on a 212.87% rise over the past year.
The FTX Token’s sharp increase comes amid revelations of FTX’s potential revival. The exchange, currently navigating bankruptcy proceedings, has hinted at allowing creditors to convert holdings into stakes in a reimagined platform. This news propelled the FTX Token’s value to more than double, igniting a flurry of market activity as traders reassess the FTX Token’s future viability.
Recovering from its spectacular collapse, FTX has made headway in asset recovery, with its attorneys announcing a jump from $1.9 billion to $7.3 billion in liquid assets. Despite this progress, the exchange is clear that it remains a long way from any equity distribution. Yet, FTX Token’s price movement is a strong indicator of the market’s reaction to the possibility of FTX’s comeback, with FTX Token investors eagerly watching the developments.
Is Pullix.io: A Viable Alternative?
In light of FTX Token’s surge, investors are exploring alternatives like Pullix, a community-driven exchange paving the way for a new era in TradeFi. Pullix.io stands out with its innovative token burn feature, aiming to reduce the total supply of its native token, PLX, to enhance its value. This feature, along with the promise of daily revenue sharing with PLX holders, positions Pullix.io as an attractive investment compared to the uncertainty surrounding FTX Token.
Pullix.io’s approach offers a stark contrast to the traditional exchange model. It provides investors with a sense of security and belonging, with its model ensuring that every PLX holder has a stake in the platform’s success. As Pullix prepares for its launch, the excitement around its community-focused model could very well position PLX as a smart investment choice, particularly for those wary of the turbulence surrounding FTX Token.
With FTX Token’s recent performance and the potential of Pullix.io, investors face a choice: take a chance on FTX Token’s newfound momentum or opt for the community-oriented, innovative platform that Pullix.io promises to be.
This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
#FTXRevival #FTX's #FTXUpdate #topnews #TopCryptoNews
👋🌟 Hello Crypto Enthusiasts!!
1) 🚀 #FTX's Massive $3.4 Billion Sell-Off: #SOL, #BTC, #Ethereum in the Hot Seat! 📉 Can Solana Beat the Odds and Soar by 30%? The Secrets Behind FTX's Move Revealed! 💥 Don't Miss Out - Click Here to Dive Deep into the Unbelievable Insights: https://bit.ly/3PEH7CV
2) 🚀 BREAKING: #Bitcoin Skyrocketing to $150,000 SOON?! 💰 Expert Predictions Revealed! Don't Miss Out – CLICK to Uncover the Mind-Blowing Insights NOW: https://bit.ly/3rghQp7 📈🤑
3) 🚀 Analyst's Bold Bitcoin Prediction: Are We About to Witness a Crypto Revolution? 🤑 Click HERE for Jaw-Dropping Insights: https://bit.ly/3LqHoqC 💰
For more such updates, news, and information head over to VoiceOfCrypto.online🌐📰
#VoiceOfCrypto
1) 🚀 #FTX's Massive $3.4 Billion Sell-Off: #SOL, #BTC, #Ethereum in the Hot Seat! 📉 Can Solana Beat the Odds and Soar by 30%? The Secrets Behind FTX's Move Revealed! 💥 Don't Miss Out - Click Here to Dive Deep into the Unbelievable Insights: https://bit.ly/3PEH7CV
2) 🚀 BREAKING: #Bitcoin Skyrocketing to $150,000 SOON?! 💰 Expert Predictions Revealed! Don't Miss Out – CLICK to Uncover the Mind-Blowing Insights NOW: https://bit.ly/3rghQp7 📈🤑
3) 🚀 Analyst's Bold Bitcoin Prediction: Are We About to Witness a Crypto Revolution? 🤑 Click HERE for Jaw-Dropping Insights: https://bit.ly/3LqHoqC 💰
For more such updates, news, and information head over to VoiceOfCrypto.online🌐📰
#VoiceOfCrypto
See original
Sam Bankman-Fried's parents want FTX lawsuit filed against them dismissed
Joseph Bankman and Barbara Fried claim that they did not enrich themselves at the expense of clients of the FTX exchange and Alameda Research.
Current FTX management has filed charges against Sam Bankman-Fried's parents, alleging they influenced their son to gain millions of dollars in illegal benefits. FTX claims: Joseph Bankman was one of the actual leaders of the exchange, helping his son manage the company and receiving funds from client accounts.
The FTX lawsuit alleges that Sam Bankman-Fried's parents bought a villa in the Bahamas for $18.9 million at the company's expense. And Sam Bankman-Fried gave his father a gift of $10 million to his mother through loans financed by Alameda Research.
#ftx #FTXRevival #FTX's
Joseph Bankman and Barbara Fried claim that they did not enrich themselves at the expense of clients of the FTX exchange and Alameda Research.
Current FTX management has filed charges against Sam Bankman-Fried's parents, alleging they influenced their son to gain millions of dollars in illegal benefits. FTX claims: Joseph Bankman was one of the actual leaders of the exchange, helping his son manage the company and receiving funds from client accounts.
The FTX lawsuit alleges that Sam Bankman-Fried's parents bought a villa in the Bahamas for $18.9 million at the company's expense. And Sam Bankman-Fried gave his father a gift of $10 million to his mother through loans financed by Alameda Research.
#ftx #FTXRevival #FTX's
💸FTX Losing $1 Million a Day: Check Why and How
📉 The Fallout of FTX's Bankruptcy: A Prolonged Bearish Trend
In the aftermath of FTX's bankruptcy, the ongoing saga is posing significant challenges for creditors. Here's the latest:
🔍 Evaluation at Pre-Crash Prices:
FTX's rescue plan proposes valuing creditors' claims based on November 11, 2022, crypto prices. However, the crypto market has since seen a surge, leaving creditors potentially facing substantial losses.
📊 Impact on Cryptocurrency Values:
Bitcoin, valued at $17,500 on November 11, 2022, has more than doubled since, reaching $40,965. Ethereum followed suit, rising from $1,284 to $2,214. Creditors could face losses of $24,000 per BTC and nearly $1,000 per ETH. Some creditors argue this overlooks FTX's Terms of Service, asserting that digital assets belong to users.
💼 Legal Expenses Mounting:
FTX's bankruptcy proceedings have come at a significant cost. Over the three months leading to October 31, expenses on legal and advisory services amounted to a staggering $53,000 per hour. Key contributors to these costs include Alvarez and Marshall, billing $35.8 million, and Sullivan & Cromwell, invoicing $31.8 million.
💡 Creditor Voting and Uncertain Repayments:
Before finalization, specific creditor classes will have the opportunity to vote on the restructuring plan. One major concern is whether compensation to FTX's victims will be in cash or cryptocurrency, adding another layer of uncertainty to an already complex situation.
💼 Anonymous Creditor Insights:
An anonymous FTX creditor revealed on December 17 that the total legal fees incurred since the start of FTX's bankruptcy case reached approximately $350 million.
🚨 Stay Informed, Stay Prepared: Follow The Blockopedia for Real-time Updates!
#FTX's #FTXTrial #crypto #cryptocurrency #crypto2023
📉 The Fallout of FTX's Bankruptcy: A Prolonged Bearish Trend
In the aftermath of FTX's bankruptcy, the ongoing saga is posing significant challenges for creditors. Here's the latest:
🔍 Evaluation at Pre-Crash Prices:
FTX's rescue plan proposes valuing creditors' claims based on November 11, 2022, crypto prices. However, the crypto market has since seen a surge, leaving creditors potentially facing substantial losses.
📊 Impact on Cryptocurrency Values:
Bitcoin, valued at $17,500 on November 11, 2022, has more than doubled since, reaching $40,965. Ethereum followed suit, rising from $1,284 to $2,214. Creditors could face losses of $24,000 per BTC and nearly $1,000 per ETH. Some creditors argue this overlooks FTX's Terms of Service, asserting that digital assets belong to users.
💼 Legal Expenses Mounting:
FTX's bankruptcy proceedings have come at a significant cost. Over the three months leading to October 31, expenses on legal and advisory services amounted to a staggering $53,000 per hour. Key contributors to these costs include Alvarez and Marshall, billing $35.8 million, and Sullivan & Cromwell, invoicing $31.8 million.
💡 Creditor Voting and Uncertain Repayments:
Before finalization, specific creditor classes will have the opportunity to vote on the restructuring plan. One major concern is whether compensation to FTX's victims will be in cash or cryptocurrency, adding another layer of uncertainty to an already complex situation.
💼 Anonymous Creditor Insights:
An anonymous FTX creditor revealed on December 17 that the total legal fees incurred since the start of FTX's bankruptcy case reached approximately $350 million.
🚨 Stay Informed, Stay Prepared: Follow The Blockopedia for Real-time Updates!
#FTX's #FTXTrial #crypto #cryptocurrency #crypto2023
MLB and Formula 1 face fraud suits for promoting FTX
FTX investors suing the cryptocurrency exchange’s celebrity promoters for allegedly helping to facilitate an $11 billion fraud have some new targets, including Major League Baseball, Formula One racing and Mercedes-Benz Group’s racing team.
Investors’ lawyers sued MLB — the first major sports league to sign a promotional deal with FTX in 2021 — and the other entities in U.S. federal court in Miami on Monday, accusing them of "aiding and abetting and/or actively participating in the FTX Group’s massive, multi-billion-dollar global fraud.” At one point, MLB umpires wore FTX patches on their sleeves.
#FTX's #FTXCase
FTX investors suing the cryptocurrency exchange’s celebrity promoters for allegedly helping to facilitate an $11 billion fraud have some new targets, including Major League Baseball, Formula One racing and Mercedes-Benz Group’s racing team.
Investors’ lawyers sued MLB — the first major sports league to sign a promotional deal with FTX in 2021 — and the other entities in U.S. federal court in Miami on Monday, accusing them of "aiding and abetting and/or actively participating in the FTX Group’s massive, multi-billion-dollar global fraud.” At one point, MLB umpires wore FTX patches on their sleeves.
#FTX's #FTXCase
IRS Deals Devastating Blow to FTX With $24 Billion Tax Claim, Crypto Exchange Pushes Back.
FTX has challenged the potentially fatal tax claims levied by the IRS last month for $24 billion. Image by Michael O’Keene, Adobe Stock.
According to a November 30 filing by FTX debtors, the IRS tax claims of $24 billion filed in early November are “completely unsubstantiated” and FTX has now requested that the claims be dismissed by the bankruptcy court.
Sam Bankman-Fried’s FTX was hit with a major setback in its bankruptcy proceedings when the IRS filed the staggering tax claims last month, presenting a potentially insurmountable obstacle for the exchange as it attempts to recover funds and reimburse customers.
FTX asserted that the IRS has failed to provide any factual or legal rationale to justify tax claims of such an immense magnitude, especially given FTX’s financial circumstances.
The filing stated that despite ongoing discussions and repeated requests, the IRS has not substantiated the basis for maintaining tax claims that vastly exceed FTX’s estimated earnings and debts. FTX argued that the IRS claims, which currently total 47 separate claims against 31 FTX debtors, were speculative and threatened to impede customer reimbursement efforts indefinitely.
The scale of the IRS tax claims against FTX, among the largest ever levied by the agency, has prompted urgent legal action by the exchange. FTX contends that the unexpected tax claims of approximately $24 billion could critically impact its objective of restoring funds to customers and creditors affected by FTX’s shocking collapse in November 2022.
According to analysts, IRS tax claims have the potential to completely derail FTX’s bankruptcy proceedings if not dismissed or dramatically reduced. Some experts view the claims as a potentially lethal blow to hopes of rehabilitating the exchange and question whether FTX can continue operations at all given the scale of the IRS action.
#IRS #ftx #FTX2.0 #FTX's #FTXRevival
$BTC $XRP $SOL
FTX has challenged the potentially fatal tax claims levied by the IRS last month for $24 billion. Image by Michael O’Keene, Adobe Stock.
According to a November 30 filing by FTX debtors, the IRS tax claims of $24 billion filed in early November are “completely unsubstantiated” and FTX has now requested that the claims be dismissed by the bankruptcy court.
Sam Bankman-Fried’s FTX was hit with a major setback in its bankruptcy proceedings when the IRS filed the staggering tax claims last month, presenting a potentially insurmountable obstacle for the exchange as it attempts to recover funds and reimburse customers.
FTX asserted that the IRS has failed to provide any factual or legal rationale to justify tax claims of such an immense magnitude, especially given FTX’s financial circumstances.
The filing stated that despite ongoing discussions and repeated requests, the IRS has not substantiated the basis for maintaining tax claims that vastly exceed FTX’s estimated earnings and debts. FTX argued that the IRS claims, which currently total 47 separate claims against 31 FTX debtors, were speculative and threatened to impede customer reimbursement efforts indefinitely.
The scale of the IRS tax claims against FTX, among the largest ever levied by the agency, has prompted urgent legal action by the exchange. FTX contends that the unexpected tax claims of approximately $24 billion could critically impact its objective of restoring funds to customers and creditors affected by FTX’s shocking collapse in November 2022.
According to analysts, IRS tax claims have the potential to completely derail FTX’s bankruptcy proceedings if not dismissed or dramatically reduced. Some experts view the claims as a potentially lethal blow to hopes of rehabilitating the exchange and question whether FTX can continue operations at all given the scale of the IRS action.
#IRS #ftx #FTX2.0 #FTX's #FTXRevival
$BTC $XRP $SOL
