The latest Bitcoin, DeFi, NFTs and web3 news from CryptoSlate.
CryptoSlate Wrapped Daily: Bitcoin falls to June lows after Binance announces FTX deal; Coinbase, Kraken undergo downtime
FTX's insolvency is questioned as it stops transactions for two hours, the Bitcoin risk signal turns red, and more in this edition of CryptoSlate Wrapped Daily.
Marathon Digital’s BTC production slumps 51% in Q3; Revenue takes further hit from falling BTC price
The company pointed at the decreased production, falling Bitcoin prices, and increasing cost of revenues as the main factors that contributed to its net loss.
Binance to start proof-of-reserves; CZ proposes all crypto exchanges follow suit
CZ also suggested that all cryptocurrency exchanges do merkle-tree proof-of-reserves. According to the CEO, fractional reserves are suited to traditional banks and not crypto companies.
BNB surges 20% in 2 hours after news of Binance’s planned acquisition of FTX, but plummeted later
Based on the current FTX situation, the Binance CEO also predicted that FTX's FTT would be extremely volatile in the near future.
Coinbase, Kraken down as Bitcoin breaks below June low
Coinbase and Kraken have been experiencing connectivity issues as FTT's slump dragged Bitcoin below its June lows of $18,000.
BUSD supply dominance grows as USDT’s supply drops 4%
Terra's UST implosion impacted trust in other stablecoins and the broader crypto market.
Bitcoin fails to hold above $20K after bullish reversal, falls 9%
Bitcoin failed to hold onto a key psychological level as the crypto markets see red.
Over $360M Bitcoin leave FTX in 2 days, marking 10th largest withdrawal in 2022
Following Binance's CEO's announcement that Binance will liquidate its FTX native token FTT, there has been a massive sell-off.
Terra Luna founder Do Kwon surfaces on UpOnlyTV live on Twitch
Do Kwon appeared on UpOnlyTV as FTT tanks to $9 in Terra Luna esq death spiral.
Crypto, stocks brace for Thursday’s CPI announcement
CPI inflation is forecast for another 0.6% monthly increase piling on sell pressure for risk-on assets.
FTT temporarily jumps 44% on news of Binance acquisition before going into free fall
The FTX native token FTT recovered over 44% after the announcement FTX.COM would be acquired by Binance. The token then retraced by 23% to $15.90 at press time.
Binance intends to fully acquire FTX
Binance announced that it intends to fully acquire FTX to protect its users from a liquidity crunch.
Risk Signal flashes red as Bitcoin loses $20K amid Binance-FTX feud
The crypto market tanks as users exit positions following speculation over the unsoundness of the FTT token.
Two hours without withdrawals puts FTX’s liquidity in question
FTX hasn't processed any transactions on the Ethereum blockchain in over two hours, sparking rumors of insolvency.
BitDAO suspects Alameda of dumping BIT tokens, asks for proof of funds
Alameda responded by transferring over 100 million BIT tokens from FTX to Alameda.