The Japanese cryptocurrency exchange Liquid is the latest company to halt withdrawals amid the ongoing crisis of centralized crypto exchanges. The FTX-owned crypto exchange Liquid took to Twitter on Nov. 15 to officially announce a suspension of fiat and crypto withdrawals on its Liquid Global platform. Addressing the reasons for the suspension, Liquid cited compliance with the requirements of voluntary Chapter 11 proceedings in the United States, noting: “Due to the Chapter 11 filing by FTX Trading International, the ultimate beneficial owner of Quoine Pte. Ltd, Liquid Exchange (Quoine Pte.) is halting all withdrawals — both fiat and crypto currency.” …

The FTX liquidation crisis turned bankruptcy saga continues as a recent filing reveals additional information on Sam Bankman Fried’s leadership and the exchange's final days. On Nov. 14, a new document was filed in a United States’ federal court in Delaware, where FTX US is based. It revealed that the exchange may have, “more than 1 million creditors in these Chapter 11 Cases." This comes after Bankman-Fried's voluntary Chapter 11 bankruptcy filing on Nov.11, which initially set forth 100,000 creditors. These speculated 1 million creditors are said to belong to more than 100 different companies. The document also highlights Bankman-Fried’s …

Trust Wallet Token (TWT) has surged by nearly 150% in the last six days, bucking the downturn in the cryptocurrency market, whose net capitalization has crashed by almost $100 billion in the same period. TWT whale accumulation picks up momentum TWT's price reached an intraday high of $2.43 on Nov. 15, a day after establishing a record high at nearly $2.75. At its lowest in 2022, the token was changing hands for $0.40, which makes it one of the year's best-performing assets, with over 225% year-to-date gains. The Trust Wallet Token's uptrend picked up momentum in November following the collapse …

The collapse of cryptocurrency exchange FTX has put industry peers under the microscope with calls for transparent accounts of token holdings and assets under management. Major cryptocurrency exchanges like Binance, Huobi, OKX and Crypto.com have made efforts to share details of their assets and portfolios to assuage the wider space. This comes after investor confidence has been shaken, with users across the ecosystem moving Bitcoin (BTC) and other tokens off exchanges to avoid potential contagion from the FTX fallout. Blockchain analytics platform Nansen provides industry insights and is known for its wallet labeling features that track addresses across multiple blockchains. …

Amid growing concerns over centralized cryptocurrency exchanges in the wake of the FTX crisis, investors are increasingly moving to hardware crypto wallets. A major hardware wallet provider, Trezor, has recorded a major uptick in wallet sales in the aftermath of the FTX contagion, the firm’s brand ambassador Josef Tetek told Cointelegraph on Nov. 15. Trezor saw its sales revenue surging 300% week-on-week and it’s still growing, Tetek reported. The platform has also recorded a significant spike in its website traffic, which increased 350% over the same period, the exec noted. According to Tetek, Trezor is quite certain that the uptick …

Binance CEO Changpeng “CZ” Zhao has strongly advised cash-strapped and inexperienced investors to stay away from trading cryptocurrencies amid extreme market volatility and unpredictability. On a Nov. 14 Zhao-led “Ask Me Anything” Twitter space hosted by Binance the CEO suggested that unsophisticated investors wait out the turbulent period instead of risking money needed for living expenses: “You should not invest in crypto if you're using money that you need for next week or next month, you should only be using discretionary cash that you don't need for a long time, like maybe a couple of years.” For those who do …

Pundits are calling the collapse of the FTX exchange the end of cryptocurrency and venture capitalism related to it. But it’s not. Some of them anointed Sam “SBF” Bankman-Fried “The King of Crypto” — and then summarily killed the king. But, in reality, crypto never had a king. The end of FTX may mark the end of Americans using unregulated exchanges, and it certainly is the end of exchange-native tokens, but crypto itself hasn’t changed one bit. In reality, the FTX collapse is a symptom of a deeper problem, which is traditional finance’s “profit at any cost” mentality. For all …

On-chain data from Glassnode show Bitcoin’s (BTC) movements hit a new record for the largest net decline in aggregate BTC balances on exchanges, reducing by 72,900 BTC in one week. A similar movement occurred in April 2020, November 2020 and June 2022 with the current outflow leaving around 2.25 million BTC on exchanges. Exchange exodus for Ether, but not stablecoins While Ether (ETH) did not see an all-time high outflow from exchanges, 1.1 million Ether were withdrawn from exchanges over the last week. According to Glassnode, this marks the largest 30-day exchange balance decline since September 2020 during the DeFi …

Crypto lender BlockFi issued an official notice to its clients on Nov. 14 denying rumors that the majority of its assets were on FTX prior to the exchange's collapse. According to an update shared by BlockFi, although a majority of its assets were not on FTX, it still has “significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX US.” Despite its exposure, BlockFi assured clients that it has “the necessary liquidity to explore all options”, and is currently consulting with …

Bitcoin (BTC) lost 25.4% in 48 hours, bottoming at $15,590 on Nov. 9 as investors rushed to exit positions after the second largest cryptocurrency exchange, FTX, halted withdrawals. More importantly, the sub $17,000 levels were last seen almost two years prior, and the fear of contagion became evident. The move liquidated $285 million worth of leverage long (bull) positions, leading some traders to predict a potential downside of $13,800. What an exciting time to be alive! Loving the volatility these elites are creating! They really wana buy LOW before the next bull cycle! Thank goodness we were ready months in …

Post Ethereum (ETH) merge, layer-2 blockchains have been catching the eyes of users and investors alike. Research firm Delphi Digital has been tracking Arbitrum since August and recently shared its analysis in a monthly market report. According to data, user behavior and historical analysis show multiple trends of rapid growth in transactions, total value locked (TVL) and daily active users at Arbitrum-based platforms. Arbitrum reaches the top-10 in monthly earnings When projects give away more token incentives than the revenue they incur, they have negative earnings. Token incentives that are higher than fees a protocol receives are typically a sign …

Bitcoin (BTC) starts a new week on shaky ground after its lowest weekly close in two years. The largest cryptocurrency, considerably weakened after last week’s implosion of exchange FTX, continues to grapple with the fallout. In what is becoming an increasingly erratic market, investors are unsure what will happen next as more firms sound the alarm over solvency and regulators step up investigations in the crypto space. The mood among the majority is intensely fearful, and even some of the industry’s best-known names warn that it has been set back several years as a result of last week’s events. At …