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\"Solana — Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

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November 24, 2024

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\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

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November 24, 2024

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\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

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December 19, 2024

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Banking

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November 24, 2024

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\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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November 24, 2024

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\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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November 24, 2024

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\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

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November 24, 2024

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Follow The Distributed

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\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

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Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

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November 24, 2024

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Follow The Distributed

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ADVERTISEMENT

\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

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\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

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August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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August 15, 2024

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November 24, 2024

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\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

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\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

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November 24, 2024

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Follow The Distributed

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\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

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November 24, 2024

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\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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November 24, 2024

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Follow The Distributed

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\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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August 15, 2024

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

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November 24, 2024

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\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

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August 15, 2024

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November 24, 2024

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\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

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November 24, 2024

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\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

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August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

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November 24, 2024

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\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

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November 24, 2024

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\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

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November 24, 2024

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\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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Follow The Distributed

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\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

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November 24, 2024

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\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

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\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Follow The Distributed

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\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

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November 24, 2024

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\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
The price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

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\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\n
The price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

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November 24, 2024

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Type your email here

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\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\n
The price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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ADVERTISEMENT

\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

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\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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November 24, 2024

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Follow The Distributed

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\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

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\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 Next

Most Read

Business

United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

January 10, 2023

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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November 24, 2024

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\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

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\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX

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\n
\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related:<\/em><\/strong> United States DOJ Opens Up For Statements From FTX Victims<\/a><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The DOJ also notes that the seized assets are not a part of the bankruptcy estate. These assets are likely the most valuable holdings left within the FTX business, and it is still being determined what will occur with the money. But the \"seizure is governed by the criminal and\/or police or regulatory power exceptions to the automatic stay in sections 362(b)(1) or 362(b)(4) of the Bankruptcy Code.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> United States DOJ Opens Up For Statements From FTX Victims<\/a><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The DOJ also notes that the seized assets are not a part of the bankruptcy estate. These assets are likely the most valuable holdings left within the FTX business, and it is still being determined what will occur with the money. But the \"seizure is governed by the criminal and\/or police or regulatory power exceptions to the automatic stay in sections 362(b)(1) or 362(b)(4) of the Bankruptcy Code.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> United States DOJ Opens Up For Statements From FTX Victims<\/a><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The notice of asset seizures also notes that the seizures \"were effected pursuant to criminal statutes...as well as civil statutes...because the Seized Assets constitute property involved in violations of money laundering and\/or the proceeds of violations of wire fraud, or property traceable thereto.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ also notes that the seized assets are not a part of the bankruptcy estate. These assets are likely the most valuable holdings left within the FTX business, and it is still being determined what will occur with the money. But the \"seizure is governed by the criminal and\/or police or regulatory power exceptions to the automatic stay in sections 362(b)(1) or 362(b)(4) of the Bankruptcy Code.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> United States DOJ Opens Up For Statements From FTX Victims<\/a><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
The notice of asset seizures also notes that the seizures \"were effected pursuant to criminal statutes...as well as civil statutes...because the Seized Assets constitute property involved in violations of money laundering and\/or the proceeds of violations of wire fraud, or property traceable thereto.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ also notes that the seized assets are not a part of the bankruptcy estate. These assets are likely the most valuable holdings left within the FTX business, and it is still being determined what will occur with the money. But the \"seizure is governed by the criminal and\/or police or regulatory power exceptions to the automatic stay in sections 362(b)(1) or 362(b)(4) of the Bankruptcy Code.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> United States DOJ Opens Up For Statements From FTX Victims<\/a><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
In this Chapter 11 case, it is noted that the debtors are BlockFi Inc.<\/li>\n<\/ul>\n\n\n\n
\n
The notice of asset seizures also notes that the seizures \"were effected pursuant to criminal statutes...as well as civil statutes...because the Seized Assets constitute property involved in violations of money laundering and\/or the proceeds of violations of wire fraud, or property traceable thereto.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ also notes that the seized assets are not a part of the bankruptcy estate. These assets are likely the most valuable holdings left within the FTX business, and it is still being determined what will occur with the money. But the \"seizure is governed by the criminal and\/or police or regulatory power exceptions to the automatic stay in sections 362(b)(1) or 362(b)(4) of the Bankruptcy Code.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> United States DOJ Opens Up For Statements From FTX Victims<\/a><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
In this Chapter 11 case, it is noted that the debtors are BlockFi Inc.<\/li>\n<\/ul>\n\n\n\n
\n
The notice of asset seizures also notes that the seizures \"were effected pursuant to criminal statutes...as well as civil statutes...because the Seized Assets constitute property involved in violations of money laundering and\/or the proceeds of violations of wire fraud, or property traceable thereto.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ also notes that the seized assets are not a part of the bankruptcy estate. These assets are likely the most valuable holdings left within the FTX business, and it is still being determined what will occur with the money. But the \"seizure is governed by the criminal and\/or police or regulatory power exceptions to the automatic stay in sections 362(b)(1) or 362(b)(4) of the Bankruptcy Code.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> United States DOJ Opens Up For Statements From FTX Victims<\/a><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\"The United States has seized 55,273,469 shares of the stock of Robinhood Markets Inc. and $20,746,713.67 in United States currency (together, the \u201cSeized Assets\u201d) from an account at ED&F Man Capital Markets Inc. pursuant to judicially authorized seizure warrants issued in the Southern District of New York<\/em>,\" states the DOJ.<\/li>\n<\/ul>\n\n\n\n
\n
In this Chapter 11 case, it is noted that the debtors are BlockFi Inc.<\/li>\n<\/ul>\n\n\n\n
\n
The notice of asset seizures also notes that the seizures \"were effected pursuant to criminal statutes...as well as civil statutes...because the Seized Assets constitute property involved in violations of money laundering and\/or the proceeds of violations of wire fraud, or property traceable thereto.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ also notes that the seized assets are not a part of the bankruptcy estate. These assets are likely the most valuable holdings left within the FTX business, and it is still being determined what will occur with the money. But the \"seizure is governed by the criminal and\/or police or regulatory power exceptions to the automatic stay in sections 362(b)(1) or 362(b)(4) of the Bankruptcy Code.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> United States DOJ Opens Up For Statements From FTX Victims<\/a><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
\"The United States has seized 55,273,469 shares of the stock of Robinhood Markets Inc. and $20,746,713.67 in United States currency (together, the \u201cSeized Assets\u201d) from an account at ED&F Man Capital Markets Inc. pursuant to judicially authorized seizure warrants issued in the Southern District of New York<\/em>,\" states the DOJ.<\/li>\n<\/ul>\n\n\n\n
\n
In this Chapter 11 case, it is noted that the debtors are BlockFi Inc.<\/li>\n<\/ul>\n\n\n\n
\n
The notice of asset seizures also notes that the seizures \"were effected pursuant to criminal statutes...as well as civil statutes...because the Seized Assets constitute property involved in violations of money laundering and\/or the proceeds of violations of wire fraud, or property traceable thereto.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ also notes that the seized assets are not a part of the bankruptcy estate. These assets are likely the most valuable holdings left within the FTX business, and it is still being determined what will occur with the money. But the \"seizure is governed by the criminal and\/or police or regulatory power exceptions to the automatic stay in sections 362(b)(1) or 362(b)(4) of the Bankruptcy Code.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> United States DOJ Opens Up For Statements From FTX Victims<\/a><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
In a Notice of Asset Seizures released<\/a> by the United States Department of Justice, over 55M Robinhood shares were linked to Sam Bankman-Fried and FTX co-founder Gary Wang.<\/p>\n\n\n\n
\n
\"The United States has seized 55,273,469 shares of the stock of Robinhood Markets Inc. and $20,746,713.67 in United States currency (together, the \u201cSeized Assets\u201d) from an account at ED&F Man Capital Markets Inc. pursuant to judicially authorized seizure warrants issued in the Southern District of New York<\/em>,\" states the DOJ.<\/li>\n<\/ul>\n\n\n\n
\n
In this Chapter 11 case, it is noted that the debtors are BlockFi Inc.<\/li>\n<\/ul>\n\n\n\n
\n
The notice of asset seizures also notes that the seizures \"were effected pursuant to criminal statutes...as well as civil statutes...because the Seized Assets constitute property involved in violations of money laundering and\/or the proceeds of violations of wire fraud, or property traceable thereto.<\/em>\"<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ also notes that the seized assets are not a part of the bankruptcy estate. These assets are likely the most valuable holdings left within the FTX business, and it is still being determined what will occur with the money. But the \"seizure is governed by the criminal and\/or police or regulatory power exceptions to the automatic stay in sections 362(b)(1) or 362(b)(4) of the Bankruptcy Code.<\/em>\"<\/li>\n<\/ul>\n\n\n\nSee Related:<\/em><\/strong> United States DOJ Opens Up For Statements From FTX Victims<\/a><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1612464382767960064\n<\/div><\/figure>\n","post_title":"United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-seizes-over-55m-robinhood-shares-and-us22m-in-relation-to-sbf-and-ftx","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:36","post_modified_gmt":"2023-01-09 15:20:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9289","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9285,"post_author":"12","post_date":"2023-01-10 01:48:39","post_date_gmt":"2023-01-09 14:48:39","post_content":"\n
In \"United States v. Samuel Bankman-Fried\", the DOJ has stated<\/a> in a press release that victims of the FTX fallout<\/a> should contact them to provide a statement on the matter.<\/p>\n\n\n\n
\n
\"If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a\/k\/a \u2018SBF,\u2019 please contact the victim\/witness coordinator at the United States Attorney\u2019s Office \u2026 for assistance in verifying whether you are a victim in this case,<\/em>\" the DOJ wrote.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ urges those affected to send them an email to verify if they're a victim. The estimated amount of those affected is in the millions, and all victims have \"the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.<\/em>\"<\/li>\n<\/ul>\n\n\n\n\n
The DOJ noted that updates would take place on its website <\/a>rather than sending out individual emails due to the immense number of victims.<\/li>\n<\/ul>\n\n\n\n
\n
The DOJ has also just seized<\/a> over 56M shares of Robinhood owned by SBF, totalling over US$465M.<\/li>\n<\/ul>\n\n\n\n
\n
If you have been affected by the aftermath of FTX, you can contact the DOJ using the email they've provided or visit the press release for more. The Victim\/Witness Coordinator At The United States Attorney\u2019s Office: [email protected]<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty<\/a><\/p>\n","post_title":"United States DOJ Opens Up For Statements From FTX Victims","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"united-states-doj-opens-up-for-statements-from-ftx-victims","to_ping":"","pinged":"","post_modified":"2023-01-10 02:20:48","post_modified_gmt":"2023-01-09 15:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9285","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8993,"post_author":"13","post_date":"2022-12-23 23:35:47","post_date_gmt":"2022-12-23 12:35:47","post_content":"\n
The disgraced former FTX CEO Sam Bankman-Fried 'SBF' secured a $250 million bail Thursday from the US Federal court secured by the equity of his family home, according to coverage<\/a> by the New York Times. The bailout restricts SBF from making financial transactions of more than $1,000, opening new lines of credit, and leaving his house (except when exercising). The Federal court has also directed that he undergoes a mental health check.<\/p>\n\n\n\n
Bankman-Fried was extradited to the US Wednesday by the Federal Bureau of Investigation from the Bahamas to face eight counts of felony charges related to fraud, money laundering, and the violation of campaign financing by his cryptocurrency company, FTX.<\/p>\n\n\n\n
While issuing the ruling, Judge Gabriel Gorenstein said that SBF would have a monitoring bracelet to track his movements, assuring that his fame would make it hard for him to flee. The former CEO will stay with his parents, who are required to secure the bail with their home equity before January 12. Sam\u2019s parents \u2013 both Stanford law professors \u2013 were in the courtroom during the hearing.<\/p>\n\n\n\n
See Related:<\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n\n\n\n
Top SBF Executives Plead Guilty To Related Charges<\/h2>\n\n\n\n
His accomplices and former FTX and Alameda Research executives \u2013 Caroline Ellison and Gary Wang \u2013 have both pleaded guilty to related charges. The duo admitted that they violated securities laws, had an active role in defrauding investors, and knew they were breaking the laws in transferring customer money from the exchange to Alameda Research.  <\/p>\n\n\n\n
''Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,<\/em>'' SEC said in a\u00a0statement<\/a>. It added: ''we further allege that Ms.Ellison and Mr.Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading.''<\/em><\/p>\n\n\n\n
The Federal court is accusing the former crypto billionaire (SBF) of fraud involving more than $8 billion from his customer before filing for bankruptcy protection in Delaware on November 11. The case - per the new FTX CEO John Ray overseeing the bankruptcy \u2013 is a ''complete failure of corporate control.''<\/em><\/p>\n","post_title":"Sam Bankman-Fried Released on a $250M Bail; Former FTX Executives Plead Guilty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"sam-bankman-fried-released-on-a-250m-bail-former-ftx-executives-plead-guilty","to_ping":"","pinged":"","post_modified":"2022-12-25 01:09:08","post_modified_gmt":"2022-12-24 14:09:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8993","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n
Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n
Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n
First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n
Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n
In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n
Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n
Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8576,"post_author":"14","post_date":"2022-11-27 03:17:14","post_date_gmt":"2022-11-26 16:17:14","post_content":"\n
Elrond (EGLD), like most other cryptocurrencies, came under selling pressure after the collapse of the FTX cryptocurrency exchange<\/a>. Investors still remain concerned that the FTX crisis could cause a domino effect and drag other exchanges into the mud, which would severely destabilize the entire crypto industry.<\/p>\n\n\n\n
The crypto market saw modestly higher prices this trading week, but market participants should keep in mind that the price direction of LINK<\/a> in the short term, together with other cryptocurrencies, will also depend on how the Federal Reserve's interest-rate policy plays out.<\/p>\n\n\n\n
It is still not sure if the Federal Reserve would take a less aggressive stance in its interest rate hikes, but if this happens, we could see Elrond (EGLD) at higher price levels. Popular Wall Street strategist Thomas Lee, a co-founder of Fundstrat Global Advisors, believes<\/a> that the cryptocurrency market would strengthen again despite a poor performance in the last several months, adding that;<\/p>\n\n\n\n
\"It has been a horrific year for the cryptocurrency market, but it is not that different from 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something around $1,200, that was the time when some of the best projects were created.\"<\/em><\/p>\n\n\n\n
Elrond (EGLD) Technical Analysis<\/h2>\n\n\n\nThe price of Elrond (EGLD) has weakened from $214.87 to $38 since March 28, 2022, and the current price stands at<\/a> $43.5. The price has formed a bearish rectangle pattern, a continuation pattern that typically resolves after the price breaks out of its range while pursuing the direction of its previous trend.<\/p>\n\n\n\n
$\"Elrond$ <\/figure>\n\n\n\n
According to technical analysis, Elrond (EGLD) remains in a bear market, but if the price advances above $50, the next target could be $60. The current support level stands at $40, and a break below this level would indicate that we could see EGLD at $35 or even below.<\/p>\n\n\n\n
Summary On The Elrond Price Prediction<\/h2>\n\n\n\n
Elrond (EGLD) has weakened more than 70% since March 28, 2022, and according to technical analysis, this cryptocurrency remains in a bear market. Although the cryptocurrency market now faces a trust crisis, the price of Elrond (EGLD) could advance in December if the Federal Reserve hints at slowing the pace of rate increases.<\/p>\n","post_title":"EGLD Price Prediction for December - Elrond Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"egld-price-prediction-for-december-elrond-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 18:14:24","post_modified_gmt":"2023-04-10 08:14:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8576","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8509,"post_author":"10","post_date":"2022-11-24 22:01:47","post_date_gmt":"2022-11-24 11:01:47","post_content":"\n
According to Channel News Asia over the weekend, the Singaporean police warned<\/a> about fraudulent information about cryptocurrencies on the internet, including a fake website directed at FTX investors that is likely a phishing site used to gather login information.<\/p>\n\n\n\n
\n
Following the failure of one of the largest cryptocurrency exchanges in the world, the phony website claims to assist FTX's clients in recovering their investment losses.<\/li>\n<\/ul>\n\n\n\n
\n
The victims of FTX in Singapore are not only individual and retail investors. In a statement<\/a>, the government-owned state-holding corporation Temasek said that its investment in the cryptocurrency exchange was now worthless. It claimed to have conducted eight months of due diligence on FTX, including studying audited financials that demonstrated the business was successful. The company invested $210 million in FTX International and $65 million in FTX US.<\/li>\n<\/ul>\n\n\n\n
\n
Singaporean authorities have also warned about false internet articles that advertise nationwide cryptocurrency auto trading programs. According to local authorities, leaders from Singapore, including Speaker of Parliament Tan Chuan-jin and Senior Minister Tharman Shanmugaratnam, often appear in such articles.<\/li>\n<\/ul>\n\n\n\n
\n
These articles assert both politicians \"endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits.\" The police noted that these articles are usually paid online ads that act as clickbait.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Singapore Police Cautions Investors Against FTX Phishing Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"singapore-police-cautions-investors-against-ftx-phishing-scams","to_ping":"","pinged":"","post_modified":"2022-11-24 22:03:02","post_modified_gmt":"2022-11-24 11:03:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8509","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8465,"post_author":"12","post_date":"2022-11-20 15:42:45","post_date_gmt":"2022-11-20 04:42:45","post_content":"\n
FTX was once the second-largest cryptocurrency exchange, but now it has filed for bankruptcy<\/a> showing a huge hole in its books.<\/p>\n\n\n\n
\n
Financial Times had acquired<\/a> FTXs balance sheets which said the exchange had over $1.4B in Bitcoin liabilities with $0 of Bitcoin in its reserves. This means that there were over 80,000 Bitcoins said to be held on FTX - which in reality were just an IOU. <\/li>\n<\/ul>\n\n\n\n
\n
This is 80,000 BTC that was thought to be owned by users on FTX which has now disappeared as it was never there in the first place. So when a user would want to cash out their Bitcoin - FTX would then go purchase the amount of Bitcoin they wanted to withdraw.<\/li>\n<\/ul>\n\n\n\n
\n
Since FTXs fallout, CoinTelegraph found<\/a> that over $3B worth of Bitcoin had left exchanges - this is a great outcome from an unfortunate situation. The more Bitcoin is taken off exchanges, the less room there is for exchanges to issue paper Bitcoin IOUs Bitcoin Magazine reports<\/a>.<\/li>\n<\/ul>\n\n\n\n
\n
Bitcoin is in its 4th halving cycle, the issuance of new Bitcoins every year currently sits at around 328,000 based on 900 daily Bitcoins being mined. This means that FTX should have had around 0.41% of all Bitcoins and should have purchased around 24% of Bitcoins issued in the last year.<\/li>\n<\/ul>\n\n\n\n
\n
Along with Bitcoin, FTX also lied about having over $671M in Ethereum - around 560,000 Ether and over $796M in the stablecoin<\/a> Tether. This inflated the paper supply of these coins beyond their chain supply.<\/li>\n<\/ul>\n\n\n\n
\n
It is now vital that exchanges release their holdings, to prove that the assets are there. Many exchanges have vowed to provide a Merkle Tree Proof of Reserve such as Binance, CryptoCom, and KuCoin.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"FTX Sold Over 80,000 Paper Bitcoins, Suppressing Bitcoin Dominance","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-sold-over-80000-paper-bitcoins-suppressing-bitcoin-dominance","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins\/","post_modified":"2023-04-10 18:35:17","post_modified_gmt":"2023-04-10 08:35:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8465","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8416,"post_author":"14","post_date":"2022-11-17 16:09:31","post_date_gmt":"2022-11-17 05:09:31","post_content":"\n
Polkadot (DOT) has weakened more than 20% after the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy<\/a>, ending up with a huge liquidity gap of over $8 billion. The risk of further decline is still not over, especially after another negative news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems.<\/p>\n\n\n\n
Genesis Global Capital reported that its problems had begun thanks to the Terra (LUNA) debacle, but the collapse of FTX<\/a> has created unprecedented market turmoil, resulting in abnormal withdrawal requests. The team of Genesis Global Capital added:<\/p>\n\n\n\n
\"We recognize how challenging this past week has been due to the impact of the FTX news, and we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.\"<\/em><\/p>\n\n\n\n
In response to today's contagion fears, Polkadot, Bitcoin, and many other cryptocurrencies have continued to decline. The crypto market sentiment is still unable to show positive signs, and the outlook for risk appetite in the near term is not looking good.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
Technical Analysis Of Polkadot (DOT)<\/h2>\n\n\n\n
The price of Polkadot (DOT) has weakened from $7.41 to $5.31 in a little over a week, and the current price stands at $5.68. The price has also moved below the 10-day moving average, indicating that this cryptocurrency could fall even more in the upcoming days.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below. The upside potential remains limited for now; still, if the price of Polkadot (DOT) jumps above $8, the next target could be $10.<\/p>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Many cryptocurrencies, including Polkadot, came again under selling pressure after Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. Polkadot (DOT) might have a hard time holding above the current support level, which stands at $5, and a break below this level would indicate that we could see DOT at $4 or even below.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Polygon Price Prediction: MATIC\/USD Tests Critical Resistance At $1, What\u2019s Next? <\/a><\/p>\n","post_title":"Polkadot (DOT) Price Prediction After Genesis Global Capital Paused Withdrawals","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"polkadot-dot-price-prediction-after-genesis-global-capital-paused-withdrawals","to_ping":"","pinged":"","post_modified":"2023-04-10 18:37:35","post_modified_gmt":"2023-04-10 08:37:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8416","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8391,"post_author":"8","post_date":"2022-11-16 22:17:55","post_date_gmt":"2022-11-16 11:17:55","post_content":"\n
The latest report<\/a> from Matt Novak<\/strong><\/a>, a senior crypto journalist at Gizmodo, suggests Hong Kong-based popular crypto exchange AAX has stopped receiving withdrawal requests without mentioning any concrete reason behind the decision. Although the exchange denies any speculation over its exposure to FTX.<\/p>\n\n\n\n
\n
In a press release<\/a>, AAX stated that withdrawals were stopped on Sunday and that it would try to resume trades in 7 to 10 days.
<\/li>\n\n\n\n
According to AAX, the shutdown was caused by a \"third party partner\" whose system malfunctioned during a \"system upgrade\" that had been previously \"scheduled,\" and it had nothing to do with FTX's collapse, which has shocked the fake money industry.
<\/li>\n\n\n\n
AAX claims to have more than 2 million users across 100 countries but is restricting services like withdrawals to ensure that the holdings of all users are as accurate as possible, as the technical team had to follow the manual process to proofread until the system was restored.
<\/li>\n\n\n\n
However, the business has developed a Google form that allows users to request withdrawals manually. The fact that anyone who has a Google account can create a Google form and attempt to imitate AAX's form makes the process a surprisingly terrible idea.
<\/li>\n\n\n\n
According to AAX, a \"dedicated task force\" has been established to provide updates each day at 12:00 p.m. HK local time, which is currently 11:00 a.m. the day before on the east coast of the United States.<\/li>\n<\/ul>\n\n\n\n
See Related:<\/em><\/strong> The Recent Moving Average Crossover Suggests Bitcoin Price May Create A Higher High And Remain Bullish Throughout November<\/a><\/p>\n\n\n\n
$\"\"$
Matt Novak<\/a> shared an image of the Google form that users of AAX must use to ask the crypto exchange for a withdrawal of their funds. Source: Gizmodo\/CryptoNews<\/figcaption><\/figure>\n","post_title":"Cryptocurrency Exchange AAX Denies Having Exposure To FTX After It Halts Withdrawals, Crypto Reporter Matt Novak","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cryptocurrency-exchange-aax-denies-having-exposure-to-ftx-after-it-halts-withdrawals-crypto-reporter-matt-novak","to_ping":"","pinged":"","post_modified":"2023-04-10 18:38:38","post_modified_gmt":"2023-04-10 08:38:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8391","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8343,"post_author":"8","post_date":"2022-11-14 14:23:20","post_date_gmt":"2022-11-14 03:23:20","post_content":"\n
Jocelyn Yang<\/a>, a New York-based cryptocurrency reporter for CoinDesk, posted her in-depth analysis on the recent Solana price crash following the Alameda exposure and FTX Bankruptcy. In her report<\/a>, she explained why SOL, alongside other altcoins, may gradually keep losing investor confidence in the long run.<\/p>\n\n\n\n
\n
The SOL token on the Solana blockchain suffered one of the worst crashes following a sharp sell-off in cryptocurrency markets brought on by the quick demise of Sam Bankman-Fried's empire<\/a>. The price dropped<\/a> even more on Friday after the former billionaire's primary holding company sought bankruptcy protection.
<\/li>\n\n\n\n
SOL's price fell to a record low of about $12 earlier this week before rising 26% to a high of $19 on Thursday. According to the argument, Alameda might need to sell its SOL tokens to increase liquidity. SOL increased on Thursday due to Solana Foundation delaying its plan to \"unstake\" 28.5m SOL tokens, signaling an end to increased selling pressure right away.
<\/li>\n\n\n\n
However, on Friday, on the news of FTX's bankruptcy<\/a>, the price had dropped back to roughly $16, losing 6.4% in a single day. The SOL price has decreased by 50% in the last seven days.
<\/li>\n\n\n\n
The increased volatility has generated a discussion about Solana's long-term prospects among cryptocurrency analysts, blockchain developers, and executives. There are lingering concerns about the blockchain's prospects and how much the industry's repercussions from this week may influence it.<\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>Ethereum (ETH) Price Prediction After FTX Filed Chapter 11 for Bankruptcy<\/a><\/p>\n\n\n\n
$\"Solana$
Solana 7 Day Price Graph. Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future, Crypto Reporter Jocelyn Yang","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-ftx-bankruptcy-crisis-solana-volatility-is-back-but-remains-under-loads-of-doubts-over-its-long-term-future-crypto-reporter-jocelyn-yang","to_ping":"","pinged":"","post_modified":"2023-04-10 18:45:00","post_modified_gmt":"2023-04-10 08:45:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8343","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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