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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
The founder of FTX, Sam Bankman-Fried, has been found guilty in a trial related to a cryptocurrency scandal. He could face up to 110 years in prison. This trial is about wrongdoing in the cryptocurrency world, and it didn't take long, lasting only four weeks.
While Bankman-Fried admitted to some mistakes, he denied fraud. However, the jury believed he cheated people. The sentencing is set for March, and he might receive a 20 to 30-year prison term.
Notably, famous figures like model Gisele Bündchen and football star Tom Brady invested heavily in his company. But things took a turn when the company faced financial troubles and eventually collapsed.
#ftx #BankmanFriedTrial #Bankman-Fried #FTX's
While Bankman-Fried admitted to some mistakes, he denied fraud. However, the jury believed he cheated people. The sentencing is set for March, and he might receive a 20 to 30-year prison term.
Notably, famous figures like model Gisele Bündchen and football star Tom Brady invested heavily in his company. But things took a turn when the company faced financial troubles and eventually collapsed.
#ftx #BankmanFriedTrial #Bankman-Fried #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
FTX Exchange Drama: Closing Arguments in Bankman-Fried Trial
In the courtroom drama surrounding the downfall of the once-mighty FTX cryptocurrency exchange, the trial of Sam Bankman-Fried has entered its final chapter. The prosecution and defense presented closing arguments that couldn’t have been more contrasting.As reported by crypto journalist Laura Shin, assistant U.S. Attorney Nicholas Rooe, leading the prosecution, used evidence, timelines, and the defendant’s own words to portray Sam Bankman-Fried as a liar who stole from customers while maintaining a facade of innocence. Rooe argued that Bankman-Fried knew he was doing something wrong, stressing deception, lies, and greed as central themes.He called attention to Bankman-Fried’s contradictory statements, pointing out his confident public assurances about FTX’s health despite his awareness of the exchange’s dire financial situation. He alleged that Bankman-Fried’s actions betrayed his knowledge of wrongdoing.Rooe stated, “He told a story and he lied to you. This was a pyramid of deceit built by the defendant on a foundation of lies and false promises, all to get money, and eventually it collapsed, leaving countless victims in its wake.”In contrast, Bankman-Fried’s defense, led by Mark Cohen, sought to discredit the government’s portrayal of the defendant as a villain. Cohen argued that the government unfairly painted his client as a criminal mastermind, using evidence about Bankman-Fried’s physical appearance and personal life to cast him as a villain in their narrative.Cohen contended that miscommunications, mistakes, and lapses in judgment occurred in the real world, but they did not constitute criminal acts. He questioned the government’s focus on Bankman-Fried’s motivations and intentions, highlighting the lack of evidence of criminal intent in their case.With both sides having made their closing arguments, the jury is now set to begin deliberations. The outcome of this high-stakes trial, closely watched by the cryptocurrency community and beyond, remains uncertain. Deliberations may continue into the evening, and the trial’s conclusion is eagerly awaited.#ftx #FTX's #IluPredictor #sbf #coinbase
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
FTX Granted Permission to Initiate Sale of $744 Million Grayscale Assets - Breaking News Update!
In a groundbreaking development, FTX has secured approval to commence the sale of Grayscale assets totaling $744 million. This significant milestone marks a pivotal moment for FTX and the broader crypto market. Delving into the details of this approval sheds light on the implications and potential impacts of this substantial asset sale, signaling a notable shift within the cryptocurrency trading landscape.
#FTXRevival #FTX's
#BinanceCEO #binannce
In a groundbreaking development, FTX has secured approval to commence the sale of Grayscale assets totaling $744 million. This significant milestone marks a pivotal moment for FTX and the broader crypto market. Delving into the details of this approval sheds light on the implications and potential impacts of this substantial asset sale, signaling a notable shift within the cryptocurrency trading landscape.
#FTXRevival #FTX's
#BinanceCEO #binannce
Ex-FTX Executive's Partner Charged with Campaign Finance Violations !!
Michelle Bond, partner of former FTX co-CEO Ryan Salame, has been charged with campaign finance violations, including illegally funding her 2022 congressional run with $400,000 from a crypto firm and making false statements to cover it up.
#FTXScamAlert #FTX's #MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole
Michelle Bond, partner of former FTX co-CEO Ryan Salame, has been charged with campaign finance violations, including illegally funding her 2022 congressional run with $400,000 from a crypto firm and making false statements to cover it up.
#FTXScamAlert #FTX's #MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole
FTX and Alameda Research's Cryptocurrency Exodus: Unraveling the $8.28M Asset Transfer
FTX and Alameda Research: Massive Crypto Exodus Raises Eyebrows!💰💰
In a surprising move, FTX and Alameda Research, two major players in the crypto space, have orchestrated a significant outflow of assets totaling $8.28 million. This development, which unfolded in just the past two hours, involves the transfer of six different tokens to various destinations.
Assets on the Move:
1. 2,150 ETH ($4.88M): Sent to FalconX.
2. 37,900 OKB ($2.05M): Transferred to wallet 0x596, with a substantial portion subsequently deposited to OKX.
3. 435,694 MTL ($629K): Moved to Coinbase.
4. 54,575 PROM ($385): Shifted to Binance.
5. 90.84 YFII ($196K): Relocated to OKX.
6. 9,509 CREAM ($152K): Dispatched to Binance.
Addresses:
[Address 1] 0xf02e86d9e0efd57ad034faf52201b79917fe0713
[Address 2] 0x77f33da6046a03ebb0e6d33a26cb49bd738774ff
[Address 3] 0x97f991971a37d4ca58064e6a98fc563f03a71e5c
These addresses are linked to the entities Alameda Research and FTX, raising questions about the motivation behind this sudden asset movement.
Testing the Waters:
Interestingly, the involved wallets also conducted test transactions, possibly in preparation for upcoming deposits to centralized exchanges (CEX) in tokens ALPHA and HT.
Cumulative Exodus:
This recent move adds to FTX and Alameda Research's track record of transferring assets. Since October 24, 2023, they have collectively moved out a staggering $707 million, involving 91 tokens across Ethereum, Solana, and Avalanche.
Fig 1. The updated top 20 assets moved out by FTX and Alameda Research.
The sudden and substantial movement of assets prompts speculation within the crypto community. Stay tuned for further updates on this developing story.
#AlamedaResearch #FTX's #CryptoTransfers #OKX #FalconX
In a surprising move, FTX and Alameda Research, two major players in the crypto space, have orchestrated a significant outflow of assets totaling $8.28 million. This development, which unfolded in just the past two hours, involves the transfer of six different tokens to various destinations.
Assets on the Move:
1. 2,150 ETH ($4.88M): Sent to FalconX.
2. 37,900 OKB ($2.05M): Transferred to wallet 0x596, with a substantial portion subsequently deposited to OKX.
3. 435,694 MTL ($629K): Moved to Coinbase.
4. 54,575 PROM ($385): Shifted to Binance.
5. 90.84 YFII ($196K): Relocated to OKX.
6. 9,509 CREAM ($152K): Dispatched to Binance.
Addresses:
[Address 1] 0xf02e86d9e0efd57ad034faf52201b79917fe0713
[Address 2] 0x77f33da6046a03ebb0e6d33a26cb49bd738774ff
[Address 3] 0x97f991971a37d4ca58064e6a98fc563f03a71e5c
These addresses are linked to the entities Alameda Research and FTX, raising questions about the motivation behind this sudden asset movement.
Testing the Waters:
Interestingly, the involved wallets also conducted test transactions, possibly in preparation for upcoming deposits to centralized exchanges (CEX) in tokens ALPHA and HT.
Cumulative Exodus:
This recent move adds to FTX and Alameda Research's track record of transferring assets. Since October 24, 2023, they have collectively moved out a staggering $707 million, involving 91 tokens across Ethereum, Solana, and Avalanche.
Fig 1. The updated top 20 assets moved out by FTX and Alameda Research.
The sudden and substantial movement of assets prompts speculation within the crypto community. Stay tuned for further updates on this developing story.
#AlamedaResearch #FTX's #CryptoTransfers #OKX #FalconX
🚨FTX TO PAY DEBTORS WITH SHARES FROM ROBINHOOD.
The #crypto Market is about to be pumped with Liquidity.
Bankrupt crypto exchange FTX has filed a motion to pay $14 million to fund Emergent Fidelity Technologies, for its claims of Robinhood shares worth over $600 million.‼️
The $14 million will be used to pay for Emergent’s administrative expenses to avoid the cost and delay of litigation related to the investment firm’s claims in around 55 million seized Robinhood shares and cash worth over $600 million in total.
FTX has called the settlement agreement “another valuable piece of the puzzle” in its reorganization plan.
#FTX's #FTXRecovery #CryptoMarketTrend
Bankrupt crypto exchange FTX has filed a motion to pay $14 million to fund Emergent Fidelity Technologies, for its claims of Robinhood shares worth over $600 million.‼️
The $14 million will be used to pay for Emergent’s administrative expenses to avoid the cost and delay of litigation related to the investment firm’s claims in around 55 million seized Robinhood shares and cash worth over $600 million in total.
FTX has called the settlement agreement “another valuable piece of the puzzle” in its reorganization plan.
#FTX's #FTXRecovery #CryptoMarketTrend
Hi Guys,
It's Big & Big #alert about #FTX's Unstaking $23.75 Million !!!
FTX Unstakes $23.75 Million in Solana Tokens: What Will Happen to SOL Price?
An FTX/Alameda-affiliated wallet redeemed 177,693 Solana (SOL) tokens, worth approximately $23.75 million, from the Solana Proof-of-Stake (PoS) network.
This move has sparked discussion about the potential impact on Solana’s price and the broader implications for the cryptocurrency market.
The wallet in question, identified as H4y…gFZ, still holds a substantial amount of Solana tokens. Even after this redemption, the wallet retains 7.057 million SOL, valued at around $943 million, in staking.
FTX/Alameda associated wallet H4y…gFZ redeemed 177,693 SOL (US$23.75 million) from Solana PoS staking today, and may transfer SOL to CEX in the future. H4y…gFZ address currently still has up to 7.057 million SOL (US$943 million) in staking.
Most of the SOL held by FTX may…
This holding continues to make FTX one of the largest holders of SOL coins, despite its bankruptcy in November 2022.
The recent unstaking event is part of a larger trend of FTX gradually offloading its Solana holdings. In November 2023, the same wallet unstaked $67 million worth of SOL and transferred
it to Coinbase.
Later, in December 2023, another FTX-linked address unstaked approximately $90 million worth of SOL, which was also sent to Coinbase.
These actions are likely related to FTX’s efforts to repay its creditors. The court has ordered FTX to repay up to $16 billion in credits, which the company plans to facilitate using stablecoins.
To raise the necessary funds, FTX is expected to expedite its Solana sales, potentially through over-the-counter (OTC) transactions to minimize market impact.
$BTC
$SOL
#Debate2024 #CPI_BTC_Watch #Write2Earn!
It's Big & Big #alert about #FTX's Unstaking $23.75 Million !!!
FTX Unstakes $23.75 Million in Solana Tokens: What Will Happen to SOL Price?
An FTX/Alameda-affiliated wallet redeemed 177,693 Solana (SOL) tokens, worth approximately $23.75 million, from the Solana Proof-of-Stake (PoS) network.
This move has sparked discussion about the potential impact on Solana’s price and the broader implications for the cryptocurrency market.
The wallet in question, identified as H4y…gFZ, still holds a substantial amount of Solana tokens. Even after this redemption, the wallet retains 7.057 million SOL, valued at around $943 million, in staking.
FTX/Alameda associated wallet H4y…gFZ redeemed 177,693 SOL (US$23.75 million) from Solana PoS staking today, and may transfer SOL to CEX in the future. H4y…gFZ address currently still has up to 7.057 million SOL (US$943 million) in staking.
Most of the SOL held by FTX may…
This holding continues to make FTX one of the largest holders of SOL coins, despite its bankruptcy in November 2022.
The recent unstaking event is part of a larger trend of FTX gradually offloading its Solana holdings. In November 2023, the same wallet unstaked $67 million worth of SOL and transferred
it to Coinbase.
Later, in December 2023, another FTX-linked address unstaked approximately $90 million worth of SOL, which was also sent to Coinbase.
These actions are likely related to FTX’s efforts to repay its creditors. The court has ordered FTX to repay up to $16 billion in credits, which the company plans to facilitate using stablecoins.
To raise the necessary funds, FTX is expected to expedite its Solana sales, potentially through over-the-counter (OTC) transactions to minimize market impact.
$BTC
$SOL
#Debate2024 #CPI_BTC_Watch #Write2Earn!
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
REPORT: Crypto scammer Sam Bankman-Fried's parents broke down in tears after the guilty verdict was read that could send SBF away to prison for life.
Bankman-Fried was found guilty late Thursday evening for embezzling $10 billion of his clients' money.
It gets better. SBF's mom reportedly put her fingers over her ears so she couldn't hear what the judge was saying. His father reportedly put his face in his hands.
Raise a better kid next time.
Although SBF was found guilty, questions still remain surrounding his political donations. Throughout the 2022 midterm cycle, SBF donated $40M to Democrat-aligned PACs.
Joe Biden, whose 2020 campaign received $5 million from SBF, has yet to make any move to return the dirty money.
#sbf #FTX's #universalcryptoworld #SamBankman-Fried #Scam
Bankman-Fried was found guilty late Thursday evening for embezzling $10 billion of his clients' money.
It gets better. SBF's mom reportedly put her fingers over her ears so she couldn't hear what the judge was saying. His father reportedly put his face in his hands.
Raise a better kid next time.
Although SBF was found guilty, questions still remain surrounding his political donations. Throughout the 2022 midterm cycle, SBF donated $40M to Democrat-aligned PACs.
Joe Biden, whose 2020 campaign received $5 million from SBF, has yet to make any move to return the dirty money.
#sbf #FTX's #universalcryptoworld #SamBankman-Fried #Scam
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
Sam Bankman-Fried Found Guilty on All Charges
Following the highly publicized fraud trial, FTX co-founder Sam Bankman-Fried has been found guilty on all charges. Indeed, following deliberation, the juror issued a guilty verdict on seven charges, meaning the one-time crypto mogul is set to face more than 110 years in prison.The case followed the devastating collapse of FTX, which at one time was one of the strongest brands in the industry. Subsequently, Bankman-Fried and his defense attorneys were unable to prove, without a shadow of a doubt, that he defrauded investors through the exchange.Bankman-Fried Found Guilty on Fraud ChargesThe fall of FTX has been described as one of the largest financial crimes in American history. Indeed, it is certainly the greatest controversy to face the digital asset industry in its history. Now, the man who created and ran the exchange is set to face justice.Following a trial that dominated the news cycle, Sam Bankman-Fried has been found guilty on all seven charges issued against him. The jurors deliberated after closing arguments were issued by both sides on November 1st. Subsequently, they concluded that Bankman-Fried maintained culpability for the company’s downfall.Throughout the trial, Bankman-Fried attempted to convince jurors of his innocence. Specifically, he had continued a defense that began with a media tour following the exchange’s collapse. Bankman-Fried has consistently assured the public that the collapse was a result of his ignorance, not malice. Yet, the jurors seemingly did not believe the defense set forth.Many had predicted that Bankman-Fried would face conviction. Yet, there remained the belief that the overarching dysfunction of the platform as a whole would absolve him of sole responsibility. Conversely, jurors have instead agreed with the prosecution, finding Bankman-Fried guilty.Bankman-Fried sat motionless at the defense table in a grey suit. He was made to stand and face the jury for the reading. He showed no emotion.#FTX's #Fraud #CryptoNews🔒📰🚫
One Year After FTX Imploded, Here’s How Crypto Is Changing
For many who trade cryptocurrencies for a living, the events of a year ago are forever etched in memory.
“The worst day of my career, and one of the worst days of my life — the day FTX froze withdrawals,” is how Travis Kling, who runs Ikigai Asset Management, described it in a series of tweets on Nov. 7. Four days later, Sam Bankman-Fried’s exchange filed for bankruptcy, ushering in arguably the darkest days in crypto’s history.
“The first weeks were incredibly brutal. I didn’t sleep much at all. Feelings of terror, guilt and shame. We laid off most of the team,” Kling wrote.
A year on, the industry is irrevocably altered — while at the same time in many ways remarkably familiar.
Mostly gone are the giddy day traders and the abundant leverage that drove Bitcoin to its November 2021 high at close to $69,000. Same for celebrities and social-media influencers peddling nonfungible tokens and memecoins. Regulators determined not to get caught off guard again are tightening their grip. And large financial firms like BlackRock Inc. are moving in, drawn by the prospect of the US Securities and Exchange Commission giving its first blessing for an ETF investing directly in Bitcoin.
#ftx #FTXUpdate #FTX's $BTC $HIFI $SHIB
For many who trade cryptocurrencies for a living, the events of a year ago are forever etched in memory.
“The worst day of my career, and one of the worst days of my life — the day FTX froze withdrawals,” is how Travis Kling, who runs Ikigai Asset Management, described it in a series of tweets on Nov. 7. Four days later, Sam Bankman-Fried’s exchange filed for bankruptcy, ushering in arguably the darkest days in crypto’s history.
“The first weeks were incredibly brutal. I didn’t sleep much at all. Feelings of terror, guilt and shame. We laid off most of the team,” Kling wrote.
A year on, the industry is irrevocably altered — while at the same time in many ways remarkably familiar.
Mostly gone are the giddy day traders and the abundant leverage that drove Bitcoin to its November 2021 high at close to $69,000. Same for celebrities and social-media influencers peddling nonfungible tokens and memecoins. Regulators determined not to get caught off guard again are tightening their grip. And large financial firms like BlackRock Inc. are moving in, drawn by the prospect of the US Securities and Exchange Commission giving its first blessing for an ETF investing directly in Bitcoin.
#ftx #FTXUpdate #FTX's $BTC $HIFI $SHIB
FTX Reports Strong Creditor Support for Reorganization Plan !!
FTX Trading Ltd. announced that its amended Plan of Reorganization has received strong preliminary support from over 95% of voting creditors, representing 99% of voted claims by value.
The plan aims to return 100% of bankruptcy claim amounts plus interest to non-governmental creditors. Final voting results will be submitted before the Confirmation Hearing on October 7, 2024.
#FTX's #MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves
FTX Trading Ltd. announced that its amended Plan of Reorganization has received strong preliminary support from over 95% of voting creditors, representing 99% of voted claims by value.
The plan aims to return 100% of bankruptcy claim amounts plus interest to non-governmental creditors. Final voting results will be submitted before the Confirmation Hearing on October 7, 2024.
#FTX's #MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves
