The Solana-based decentralized exchange (DEX) has notified its community that the collapse of its backers — Alameda and FTX — has rendered its program “defunct”. The team behind the project shared that “there is hope”, in spite of its ongoing challenges, because of the community option available to "fork" Serum. What's next for @ProjectSerum With the collapse of Alameda and FTX, the Serum program on mainnet became defunct. As upgrade authority is held by FTX, security is in jeopardy, leading to protocols like @JupiterExchange and @RaydiumProtocol moving away from Serum. — Serum (@ProjectSerum) November 29, 2022 According to the announcement, …

Bitcoin (BTC) has topped the crypto charts in a survey from down under. According to 2,000 Australians surveyed by the Independent Reserve Cryptocurrency Index (IRCI), Bitcoin is number one for brand recognition, ownership and overall sentiment. Bitcoin with the most brand awareness, and by a long shot. https://t.co/LqhYPXe3p8 — Stephan Livera (@stephanlivera) November 28, 2022 In the report, while 92% of Australians have heard of cryptocurrencies, Bitcoin enjoys the highest levels of brand awareness. Accordingly, 90.80% of respondents had heard about Bitcoin. Stephan Livera, a popular Bitcoin podcaster from Australia, shed light on the figures. Livera told Cointelegraph, “Bitcoin continues …

Serum, a "decentralized exchange" on the Solana blockchain, has performed exceptionally well in terms of its SRM token price, despite it ties to the defunct FTX exchange. SRM price up 140% in one week On the daily chart, the SRM/USD pair has gained 140% in the last seven days, hitting $0.319 on Nov. 21 versus $0.177 on Nov. 14. This pushed the circulating market cap to about $73 million and "fully diluted market cap," the market cap if the maximum supply was in circulation, to nearly $2.8 billion. "Closer to zero" SRM price rallied despite the ongoing delisting of Serum …

Binance crypto exchange announced on Nov. 17 that deposits of Solana-based USDT and USDC have been “temporarily suspended until further notice” on the platform. The exchange referred to the tokens as “USDT (SOL)” and “USDC (SOL),” as USDT and USDC stablecoins remain available for deposits on Binance on other blockchains. Binance did not provide more information on the measure, adding that Binance “reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.” Other exchanges, including OKX and ByBit, are also among the platforms delisting Solana-based …

Solana (SOL) has lost 60% of its market value in a week due to its exposure to the now-defunct crypto exchange FTX, which could continue to haunt the "Ethereum killer" well into the future. FTX/Alameda exposure hurting Solana price FTX and its sister-firm Alameda Research is liable to have control over 50 million SOL, according to Solana's statement released on Nov. 10. The FTX entities received 4 million SOL from the Solana Foundation on Aug. 31, 2020. They also started receiving a portion of 12 million SOL from Sep. 11, 2020, and nearly 34.52 million SOL from Jan. 7, 2021, …

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The second week of November could have been a bullish week, as consumer price index data released on Nov. 10 indicate lower-than-expected inflation. This resulted in a significant rally for traditional stocks, but the crypto ecosystem is currently fighting its own demon. The FTX turmoil has not just tanked the price of the native token FTX Token (FTT), but any token associated with Sam Bankman-Fried or his associate company. Solana, a top-10 cryptocurrency and …

With Solana (SOL) being heavily affected by the FTX debacle, crypto Twitter expressed sympathy and hopes that its community can make a comeback. Being one of many coins that FTX CEO Sam Bankman-Fried (SBF) supported, SOL has been hit heavily amid the FTX collapse. On Nov. 10, the total value locked on the Solana chain has fallen by 32.4%. The SOL token lost almost half of its value, dropping in value from $38 on Nov. 5 to $17 at the time of writing. Because of the devastating things happening to Solana, crypto community members took to Twitter to offer encouragement …

The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem. According to DefiLlama, at the time of writing, Solana’s TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a far cry from its all-time-high (ATH) of $10.17 billion on Nov. 9, 2021. TVL measures the total value of all assets locked into DeFi protocols. As TVL increases that means more coins are deposited within the DeFi protocols, and can indicate bullish sentiment, while a …

Crypto markets crumbled for a second day as the fallout from FTX’s liquidity troubles continued to negatively impact investor sentiment. Bitcoin (BTC) price fell to a new yearly low at $16,800 as anonymous unconfirmed sources suggested that after a closer review of FTX’s books, Binance could back out of their agreement to acquire the beleaguered exchange. Other factors having a potential impact on the market is a wave of successive liquidations in Solana’s DeFi markets. Earlier in the day, Crypto.com exchange emailed its users to inform them that all Solana blockchain-based USDC deposits were suspended A notice on the Crypto.com …

Solana (SOL) is on the track to log its worst daily performance on record. On Nov. 9, SOL's price dropped more than 40% to around $16 primarily due to its association with Sam Bankman-Fried, the founder of crypto-focused hedge fund Alameda Research and cryptocurrency exchange FTX. Sam tokens get 'fried' Fried was an early investor in the Solana blockchain project via Alameda Research. On Nov. 8, the entrepreneur's estimated wealth plunged from a whopping $15.6 billion to around $1 billion, according to Bloomberg Billionaires Index. At the core of this wipeout was a near-collapse of FTX. On Nov. 6, Binance, …

FTX Token (FTT) and Solana (SOL) endured a tough weekend of trading which saw altcoins take double-digit losses in the 15% to 30% range, but the tide turned as news broke that Binance could be in the process of acquiring FTX. On Nov. 8, FTX CEO Sam Bankman-Fried first took to Twitter to announce a liquidity sharing partnership with Binance exchange. Changpeng Zhao “CZ”, the CEO of Binance agreed to step in and provide liquidity to what was beginning to look like a bank run. Bankman-Fried billed the development as user-focused which benefits the entire industry. 1) Hey all: I …

Royalty enforcing NFTs to be a ‘new asset class’: Magic Eden CEO Jack Lu, the CEO of Solana-based nonfungible token (NFT) marketplace Magic Eden has floated the idea of NFTs designed to enforce royalties. Lu said in an address at Solana’s Breakpoint 2022 conference on Nov. 5 that these NFTs could “give rise to a new asset class” as the space grapples with the debate around opt-in royalties. He added that “creators need a sustained revenue model” and while royalties were one of those models there is “no way” to enforce them with the “current design” but added there are …