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A web3-focused media house bringing you the latest and breaking stories from crypto to NFTs, and DeFi.
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List of FTX Alternatives with Proof of Reserves
FTX had more than 3.1 million users at its pean in November 2021 and over. A year later on November 11, 2022, FTX filed for bankruptcy. Though there was a hold on withdrawals, users still managed to find a loophole. Some might get their funds back, some may not. But all of them would need a reliable crypto exchange. We have curated a list of top crypto exchanges that can be better alternatives for FTX.
Our Criteria
We have chosen a few criteria which helped us select the best alternatives for
Our Criteria
We have chosen a few criteria which helped us select the best alternatives for
On-Chain Data Shows Declining Solana Adoption
Solana’s price has fallen more than 63% in just a month. It reached $38 on November 5, 2022, and has now fallen to the levels of $14-$15. Solana fell on speculations that FTX and Alameda would dump their share to raise funds after bankruptcy. This, combined with on-chain data shows a very bad near-term future for Solana.
Also Read: Solana Technical Analysis: Coin Might Crash Further as Unstaking Nears
Unlocked SOL in FTX and Alameda
FTX Exchange collapsed in a dramatic series of events with
Also Read: Solana Technical Analysis: Coin Might Crash Further as Unstaking Nears
Unlocked SOL in FTX and Alameda
FTX Exchange collapsed in a dramatic series of events with
LFG Audit Claims “No Embezzlement” in the LUNA-UST Crash
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LFG shares a technical audit report conducted by JS Held, a third-party auditing firm
All Luna Foundation Guard funds were spent to defend UST’s peg parity with the Dollar
The report dispels the allegation of embezzlement or misuse of funds
On November 16, Luna Foundation Guard (LFG), the entity supporting the Terra ecosystem, today released the much-awaited technical audit report. The report was conducted by JS Held, an experienced third-party auditing firm. Notably, the report
LFG shares a technical audit report conducted by JS Held, a third-party auditing firm
All Luna Foundation Guard funds were spent to defend UST’s peg parity with the Dollar
The report dispels the allegation of embezzlement or misuse of funds
On November 16, Luna Foundation Guard (LFG), the entity supporting the Terra ecosystem, today released the much-awaited technical audit report. The report was conducted by JS Held, an experienced third-party auditing firm. Notably, the report
Arbitrageurs See Opportunity In FTX Drainer’s ETH Bags
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FTX drainer holds large amounts of ETH and BNB digital assets
The attacker has been swapping BNB and DAI for ETH, becoming Ether’s 34th largest holder
The move is proving to be beneficial for arbitrageurs leveraging the price fluctuation
The recent FTX meltdown was known to create a massive shift in the market but it seems that it is providing a safe passage for hackers to conduct mischief. Immediately after FTX filed for bankruptcy last week, $400 million was withdrawn from th
FTX drainer holds large amounts of ETH and BNB digital assets
The attacker has been swapping BNB and DAI for ETH, becoming Ether’s 34th largest holder
The move is proving to be beneficial for arbitrageurs leveraging the price fluctuation
The recent FTX meltdown was known to create a massive shift in the market but it seems that it is providing a safe passage for hackers to conduct mischief. Immediately after FTX filed for bankruptcy last week, $400 million was withdrawn from th
SBF’s Cryptic Tweet Thread Ends with Vague FTX Roadmap
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FTX founder SBF finally cleared the air about some cryptic tweets he made this week
FTX has $9 billion in illiquid assets, which SBF admitted may have a lesser fair market value
There was gossip on Twitter earlier suggesting SBF’s weird tweets were an attempt to cover his trail
Sam Bankman-Friend, the founder of the bankrupt cryptocurrency exchange FTX, forced crypto Twitter to solve a puzzle over the past day. He started posting random letters on Twitter on November 14, whic
FTX founder SBF finally cleared the air about some cryptic tweets he made this week
FTX has $9 billion in illiquid assets, which SBF admitted may have a lesser fair market value
There was gossip on Twitter earlier suggesting SBF’s weird tweets were an attempt to cover his trail
Sam Bankman-Friend, the founder of the bankrupt cryptocurrency exchange FTX, forced crypto Twitter to solve a puzzle over the past day. He started posting random letters on Twitter on November 14, whic
Su Zhu is Leveraging FTX Collapse to Clear 3AC’s Name
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3AC co-founder Su Zhu is attempting to regain popularity on Twitter by siding against FTX
He accused FTX employees of teaming against him and leaking his company’s positions publically
The employees have since refuted the claims, and Crypto Twitter was not too keen on his return
Su Zhu, the founder of insolvent hedge fund Three Arrows Capital (3AC) appears to be back on Twitter full-time. Ever since issues within the FTX empire started to surface last week, Zhu has been seen
3AC co-founder Su Zhu is attempting to regain popularity on Twitter by siding against FTX
He accused FTX employees of teaming against him and leaking his company’s positions publically
The employees have since refuted the claims, and Crypto Twitter was not too keen on his return
Su Zhu, the founder of insolvent hedge fund Three Arrows Capital (3AC) appears to be back on Twitter full-time. Ever since issues within the FTX empire started to surface last week, Zhu has been seen
Solana’s Gamefi Ecosystem Plunges from FTX Contagion
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Gaming tokens across the Solana ecosystem face the FTX contagion
Top gaming projects said their exposure to FTX was “minimal”
Trading volumes of blockchain games have also plunged
Almost all gaming tokens across the Solana ecosystem are facing a tough time as users are losing faith in gaming projects. This comes after the collapse of the FTX empire began to spread across the web3 sector. Since many considered Solana to be FTX founder Sam Bankman-Fried’s pet project, the netwo
Gaming tokens across the Solana ecosystem face the FTX contagion
Top gaming projects said their exposure to FTX was “minimal”
Trading volumes of blockchain games have also plunged
Almost all gaming tokens across the Solana ecosystem are facing a tough time as users are losing faith in gaming projects. This comes after the collapse of the FTX empire began to spread across the web3 sector. Since many considered Solana to be FTX founder Sam Bankman-Fried’s pet project, the netwo
The Market Crashed. What should I do now?
Crypto markets have been crashing after FTX episode. One of the previously top 5 crypto exchanges, FTX capitulated after it failed to receive a bailout from Binance. The fall of such a giant sent shockwaves across the industry. It also locked millions of dollars of crypto away from users, who are now unable to withdraw. Therefore, popular Bitcoin and Crypto maximalists like Michael Saylor(MicroStrategy) and Changpeng Zhao(CEO, Binance) are strongly advising self-custody of cryptocurrencies.
The
The
Nickelodeon Adds Another Iconic Cartoon to NFT Offerings
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RECUR announced the launch of another iconic NFT franchise from Nickelodeon
It partnered with Paramount Consumer Products to introduce Teenage Mutant Ninja Turtles NFTs
Nick’s previous NFT collection was an instant hit, but its popularity fizzled soon after
On November 14, RECUR announced that it is launching another iconic Nickelodeon franchise into its Web3 experience. Notably, RECUR is a platform for creating innovative, multi-chain non-fungible token (NFT) experiences.
Earli
RECUR announced the launch of another iconic NFT franchise from Nickelodeon
It partnered with Paramount Consumer Products to introduce Teenage Mutant Ninja Turtles NFTs
Nick’s previous NFT collection was an instant hit, but its popularity fizzled soon after
On November 14, RECUR announced that it is launching another iconic Nickelodeon franchise into its Web3 experience. Notably, RECUR is a platform for creating innovative, multi-chain non-fungible token (NFT) experiences.
Earli
Bitcoin Miners Pull Off Rigs As Electrical Cost Surges
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Bitcoin miners are ceasing activity as electrical costs add to falling revenues
Bitcoin’s electrical cost breaches for the second time in past five years
Mining companies are reporting losses in third-quarter earnings
Bitcoin is already having a hard time surviving the crypto winter. The top crypto asset is lurking below $16,000 and is showing signs of extreme instability. As if this was not enough pressure for BTC miners, the rising energy costs have now added to their woes.
Bitcoin miners are ceasing activity as electrical costs add to falling revenues
Bitcoin’s electrical cost breaches for the second time in past five years
Mining companies are reporting losses in third-quarter earnings
Bitcoin is already having a hard time surviving the crypto winter. The top crypto asset is lurking below $16,000 and is showing signs of extreme instability. As if this was not enough pressure for BTC miners, the rising energy costs have now added to their woes.
Uniswap Volume Surges as Users Exit Centralized Exchanges
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Trading volume on Uniswap has surged as users flock to DeFi markets
USDC trading on DEXes has hit a new high
The overall negative sentiment surrounding FTX and CEXes has caused a resurgence in DeFi activity
Recently, crypto analysts have noticed a surge in the trading volume of the top decentralized exchange (DEX) – Uniswap. Users have been burning Ether on both Uniswap V3 and V2 rigorously in the last 7 days. This activity has led to the burning of more than 2300 ETH, thus m
Trading volume on Uniswap has surged as users flock to DeFi markets
USDC trading on DEXes has hit a new high
The overall negative sentiment surrounding FTX and CEXes has caused a resurgence in DeFi activity
Recently, crypto analysts have noticed a surge in the trading volume of the top decentralized exchange (DEX) – Uniswap. Users have been burning Ether on both Uniswap V3 and V2 rigorously in the last 7 days. This activity has led to the burning of more than 2300 ETH, thus m
USDD Shows no Signs of Recovery as Depeg Accelerates
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USDD depegged last week and is showing no sign of recovery
Founder Justin Sun says the Curve pool is operating normally; evidence shows otherwise
Justin Sun speculates Alameda is behind USDD depegging
Tron network’s USDD stablecoin depegged on November 9, 2022, and fell below 97 cents on several cryptocurrency exchanges. It lost its 1:1 ratio with the US dollar and at the time of writing, it was trading at $0.978161, with no signs of recovery. Investors are now questioning th
USDD depegged last week and is showing no sign of recovery
Founder Justin Sun says the Curve pool is operating normally; evidence shows otherwise
Justin Sun speculates Alameda is behind USDD depegging
Tron network’s USDD stablecoin depegged on November 9, 2022, and fell below 97 cents on several cryptocurrency exchanges. It lost its 1:1 ratio with the US dollar and at the time of writing, it was trading at $0.978161, with no signs of recovery. Investors are now questioning th
Binance Introduces Recovery Fund to Remedy FTX Contagion
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On November 14, Binance CEO Changpeng Zhao announced that Binance is forming an industry recovery fund
Binance’s recovery fund will assist projects that are “otherwise strong but are experiencing a liquidity crisis,” said CZ
The exchange has introduced the fund in order to reduce the cascading negative effects of FTX. It will also aid in avoiding such catastrophes in the future, the CEO said
Notably, CZ added that more information regarding the same will be available soon
He ev
On November 14, Binance CEO Changpeng Zhao announced that Binance is forming an industry recovery fund
Binance’s recovery fund will assist projects that are “otherwise strong but are experiencing a liquidity crisis,” said CZ
The exchange has introduced the fund in order to reduce the cascading negative effects of FTX. It will also aid in avoiding such catastrophes in the future, the CEO said
Notably, CZ added that more information regarding the same will be available soon
He ev
Binance User Becomes Latest Victim of API Keys Hack
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Binance discovered API Keys hack on its platform
The user had stored API keys on a 3rd party bot trading platform – Skyrex
The price of AXS was pushed to a low, then spiked, and then came back to a stable level in a single day
A new type of scam is gripping the cryptocurrency industry which makes use of contra trading to steal tokens. Web3 reporter Colin Wu raised the alarm on it earlier today, even though it was first discovered by the FTX crypto exchange last week.
On November
Binance discovered API Keys hack on its platform
The user had stored API keys on a 3rd party bot trading platform – Skyrex
The price of AXS was pushed to a low, then spiked, and then came back to a stable level in a single day
A new type of scam is gripping the cryptocurrency industry which makes use of contra trading to steal tokens. Web3 reporter Colin Wu raised the alarm on it earlier today, even though it was first discovered by the FTX crypto exchange last week.
On November
Are Rebase Tokens the Future of Crypto?
Rebase Tokens or are cryptocurrencies that maintain their value by increasing or decreasing the total supply of coins in the market. Rebase tokens address the key limiting factors of both US Dollars and Bitcoin. They have stablecoin like properties and maintain their value over time. However, there are also concerns regarding their safety and reliability. We will also gauge if they have future value.
What are Rebase Tokens?
Rebase Tokens are those cryptocurrencies that control their supply to
What are Rebase Tokens?
Rebase Tokens are those cryptocurrencies that control their supply to
Hedge Fund Galois Capital Says 50% Funds Stuck on FTX
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Half of Galois Capital’s assets are trapped on the defunct cryptocurrency exchange FTX
The amount is estimated to be around $100 million
Kevin Zhou wrote in a letter to Galois investors that it could take “a few years” for the company to recover “some percentage” of its funds
Crypto hedge fund Galois Capital is the latest company to be caught off guard by the FTX fallout. It is worth noting that nearly half of its assets were trapped on the now-defunct cryptocurrency exchange. Fu
Half of Galois Capital’s assets are trapped on the defunct cryptocurrency exchange FTX
The amount is estimated to be around $100 million
Kevin Zhou wrote in a letter to Galois investors that it could take “a few years” for the company to recover “some percentage” of its funds
Crypto hedge fund Galois Capital is the latest company to be caught off guard by the FTX fallout. It is worth noting that nearly half of its assets were trapped on the now-defunct cryptocurrency exchange. Fu
FTX has Only $900M in Liquid Assets, says Ex-Exec
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Zane Tackett, former head of Institutional sales at FTX shared details from FTX’s balance sheet
As per the information shared by Tackett, the liabilities of FTX are $8.8 billion
This is against liquid holdings of $900 million and nearly $5.2 billion in other assets
On November 11 Zane Tackett, former head of Institutional sales at FTX, shared details from the crypto exchange’s balance sheet.
As per him, the liabilities of FTX are $8.8 billion. At the same time, it held liquid as
Zane Tackett, former head of Institutional sales at FTX shared details from FTX’s balance sheet
As per the information shared by Tackett, the liabilities of FTX are $8.8 billion
This is against liquid holdings of $900 million and nearly $5.2 billion in other assets
On November 11 Zane Tackett, former head of Institutional sales at FTX, shared details from the crypto exchange’s balance sheet.
As per him, the liabilities of FTX are $8.8 billion. At the same time, it held liquid as
Its Over: FTX, FTX.US, Alameda File for Bankruptcy; SBF Quits
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In a somewhat expected turn of events, troubled crypto exchange FTX.com and its American arm FTX.US have filed for bankruptcy. This also includes the sister company, market-marker Alameda Research, along with 130 additional affiliated companies, which together made up the “FTX Group”
The Chapter 11 bankruptcy filing came within less than a week from when the FTX insolvency saga first began unfolding. The bankruptcy proceeding will take place in the United States, in the district
In a somewhat expected turn of events, troubled crypto exchange FTX.com and its American arm FTX.US have filed for bankruptcy. This also includes the sister company, market-marker Alameda Research, along with 130 additional affiliated companies, which together made up the “FTX Group”
The Chapter 11 bankruptcy filing came within less than a week from when the FTX insolvency saga first began unfolding. The bankruptcy proceeding will take place in the United States, in the district
Softbank May Write Off $100M Investment in FTX
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Japanese investment management firm Softbank might be the latest to emerge as a casualty from crypto exchange FTX’s fallout. The tech-focused firm reportedly had a nearly $100 million investment in the company
Softbank may decide to write off its whole investment in FTX as the exchange inches toward insolvency. FTX Founder Sam Bankman Fried this week said that without a cash influx soon, the exchange may have to file for bankruptcy
Softbank is expected to write off the investmen
Japanese investment management firm Softbank might be the latest to emerge as a casualty from crypto exchange FTX’s fallout. The tech-focused firm reportedly had a nearly $100 million investment in the company
Softbank may decide to write off its whole investment in FTX as the exchange inches toward insolvency. FTX Founder Sam Bankman Fried this week said that without a cash influx soon, the exchange may have to file for bankruptcy
Softbank is expected to write off the investmen
Tether Freezes FTX’s USDT as the Stablecoin Depegs
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Tether(USDT) price slightly depegged earlier today
Alameda is said to be shorting USDT by supplying USDC on AAVE and borrowing USDT
TRON DAO Reserve announced that it would purchase 300 million USDT on the open market
Since the FTX exchange and Alameda issues surfaced, the crypto markets have suffered a cascade of negative consequences. Bitcoin and all of the popular altcoins reached new yearly lows, causing panic in the market.
However, today the spotlight was on the top stable
Tether(USDT) price slightly depegged earlier today
Alameda is said to be shorting USDT by supplying USDC on AAVE and borrowing USDT
TRON DAO Reserve announced that it would purchase 300 million USDT on the open market
Since the FTX exchange and Alameda issues surfaced, the crypto markets have suffered a cascade of negative consequences. Bitcoin and all of the popular altcoins reached new yearly lows, causing panic in the market.
However, today the spotlight was on the top stable