Being three weeks removed from the FTX collapse, Bitcoin (BTC) analysts are combing through data to decipher whether more selling will continue or if a bear market floor has been reached. One thing miners, short-term and long-term holders have in common is they are losing in the Bitcoin market right now. According to on-chain analysis from Glassnode, the scale of both realized and unrealized losses amongst Bitcoin holders is one of the heaviest capitulation events in BTC’s history. Capitulation is hindering all groups from the increasing number of bankruptcies and dwindling miner revenue. Bitcoin’s realized losses fourth largest on record …

The fallout from the collapse of FTX spans beyond the Web3 and crypto ecosystem. Reports gathered by the Financial Times suggest that nightclubs in Miami have been negatively affected by the collapse of the once-reputable cryptocurrency exchange. According to nightclub owners, young, nerdy crypto bros went from lavishly spending on champagne showers and buying $50,000 tables at clubs to completely vanishing from the nightlife scene. Andrea Vimercati, director of food and beverage at the Moxy Hotel group, told the Financial Times: “They were ordering 12 or 24 bottles of the most expensive champagne and just showering themselves without even drinking.” …

According to a new Twitter post by Ryan Selkis, CEO of blockchain research firm Messari, Grayscale Bitcoin Trust's (GBTC) controlling shareholders Genesis Global and Digital Currency Group cannot simply "dump" their holdings to raise more capital. Selkis explained that the restrictions are due to Rule 144A of the U.S. Securities Act of 1933, which forces issuers of over-the-counter, or OTC, traded entities to give advance notice of proposed sales, as well as a quarterly cap on sale of either 1% of outstanding shares or weekly traded volume. 2/ DCG bought nearly $800mm worth of GBTC shares since the premium flipped …

Decentralized lending protocol, MakerDAO, has voted against crypto investment firm CoinShares' proposal to invest between 100million and 500million worth of the community’s funds, into a portfolio of corporate debt securities and government-backed bonds for yield, as an investment strategy. 72.43% of the community votes went against CoinShares' proposal to invest MakerDAO’s funds into various traditional assets. If the community had voted in favor of CoinShare’s proposal, the crypto investment firm would have provided “a variable APY above the SOFR interest rate (3.01% as of October 26, 2022) in the community’s preferred currency (DAI, USDC, USD…) to MakerDAO'', which would have …

Despite venture capital funding halving in October, there seem to be funds that still remain bullish on this space investing in emerging markets, Web3 and infrastructure. But, most people do not know who these mysterious funds are or what they are made of, or if there is a project starting up, how to get in touch with these funds. That is why Cointelegraph Research created a Crypto Funds Database, which keeps track of a list of nearly 900 different crypto funds from around the world. This database is designed for those looking to keep up with contacts from the movers …

However, the crypto space is notoriously fickle, and the collapse of once-established companies such as Celsius and FTX are stark examples of how people can lose billions of dollars in crypto assets almost overnight. For this reason, celebrity influencers should be thoroughly educated on a crypto product before promoting it. With so much at stake, this is a point that shouldn’t be overlooked by anyone in the industry. Because of these huge risks, regulators are now asking questions regarding the ethics of celebrities using their considerable pull to draw people into crypto. And they’re not stopping at that; more jurisdictions …

Following the collapse of crypto exchange FTX, which was headquartered in the island nation of Bahamas, Bahamians are reportedly still trying to find a way to make sense of everything, while remaining optimistic about the future. According to a report by the WSJ, the island nation — which encouraged cryptocurrency companies to feel at home with their “copacetic regulatory touch” — has been rocked by the implosion of FTX. The Bahamas, which was also hard hit by hurricane Dorian in 2019 and the pandemic shortly afterward in 2020, was already struggling to find ways to strengthen its economy which relies …

The monumental collapse of FTX will go down as one of the biggest corporate scandals of all time. But, at least Sam Bankman-Fried, or SBF, is sorry. On Nov. 22, the disgraced founder of FTX penned a letter to his former employees describing his role in the company’s bankruptcy. “I never intended this to happen,” he wrote. “I did not realize the full extent of the margin position, nor did I realize the magnitude of the risk posed by a hyper-correlated crash.” Get this: SBF still thinks the company can be saved because “there are billion of dollars of genuine …

Despite the market downturn and the widespread negative sentiment in the industry in the wake of the FTX collapse, on-chain data still show reasons to be bullish on Bitcoin. As pointed out by on-chain analyst Will Clemente, it’s enough to look at the long-term holders’s Bitcoin positions: they reached an all-time high despite their profitability being at an all-time low. “Long-term holders buy heavily into the bear market. They set the floor[...] and then those long-term holders distribute their holdings to new market participants in the bull market”, he told Cointelegraph in an exclusive interview. Another positive trend worth noticing …

Matrixport, the cryptocurrency firm founded by Bitmain co-founder Wu Jihan, is in the process of raising $100 million funding despite the ongoing crypto market crisis. Lead investors have already committed $50 million for Matrixport’s new funding round at a $1.5 billion valuation, Bloomberg reported on Nov. 25. The deal has yet to be finalized as Matrixport is still looking for investors for the other half of the round. We're excited and look forward to engaging with participants, on similar terms, in the other half of the #funding round. Appreciate the trust and confidence our investors continue have in Team #Matrixport.@business …

Binance announced Nov. 24 that it is spearheading the creation of a so-called Industry Recovery Initiative (IRI) on BloombergTV. New details about the project to “to lead the charge when it comes to protecting consumers and rebuilding the industry” have been released on the exchange's blog. The company wrote: "As a leading player in crypto, we understand that we have a responsibility to lead the charge when it comes to protecting consumers and rebuilding the industry." Binance has committed $1 billion to the fund at a public address, with an addition $1 billion to be added “in the near future …

Scalable blockchain network Casper announced the launch of its new Casper Accelerate Grant Program on Nov. 23, created to support developers and innovators who are building apps to support infrastructure, end-user applications, and research innovation on its blockchain. JUST IN from @nextblockexpo: We're glad to announce the launch of a $25M Casper Accelerate Grant Program. This fund will support learning, development, and innovations in Infrastructure, #dApps, #DeFi, #Gaming & NFTs. Learn more https://t.co/jClYyYxRVW pic.twitter.com/V8KszHEjM3 — Casper (@Casper_Network) November 23, 2022 The Casper Network is a Proof-of-Stake (PoS) enterprise-focused blockchain designed to help businesses to build private or permissioned apps, aimed …