bubli.eth (@0_0_3) • Hey
15+ years as HR Specialist☘️ , #SpacesHost🎙, Ex- Marketing Lead
@Polygon, Global Conflict Resolution & APAC Co-Lead
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- Afternoon folks!! Dull day and markets
- # **Crypto Markets Under Pressure as $ 2B Worth of Altcoin Token Unlocks and $ 11B Bitcoin Distribution Loom**
## Bitcoin was lower by 2.5% to $ 61,500 late Wednesday, with solana and bitcoin cash each down more than 7%.
- Collapsed cryptocurrency exchange FTX says it has billions of dollars more than it needs to repay customers.
The firm says that once it has sold off its remaining assets it will have as much as $ 16.3bn (£13bn) to cover the debts, which stand at around $ 11bn.
The company's new reorganisation plan says almost all of its customers will get at least the total amount they lost when FTX collapsed in November 2022.
In March this year, FTX co-founder Sam Bankman-Fried was sentenced to 25 years in prison for defrauding customers and investors of the now-bankrupt firm.
"We are pleased to be in a position to propose a chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors," said the company's FTX's new chief executive, John Ray.
The plan still needs to be approved by a US bankruptcy court.
FTX said it has been gathering the funds to pay its debts by selling assets investments held by Alameda Research or FTX Ventures businesses.
Alameda was a crypto trading firm controlled by Bankman-Fried.
FTX added that a jump in crypto prices since the company failed had not given its finances a major boost. It said almost all of the Bitcoin and other digital currencies believed to have been held by the exchange at the time of its collapse were missing.
The price of the biggest cryptocurrency, Bitcoin, has risen by around 270% since the firm filed for bankruptcy more than a year and a half ago.
FTX was one of the world's largest crypto platforms before its downfall.
Bankman-Fried enjoyed celebrity status and his platform attracted millions of customers.
After reports that it was in trouble, customers withdrew billions of dollars from FTX, triggering the company's implosion and laying bare the extent of Bankman-Fried's crimes.
- CNBC Crypto World has news but DYOR
- Volatility is back!! Alts building new lows....
- Volatility is back!! Alts building new lows....
- Times are changing
- cute
- yo yo
- Cathie Wood: Bitcoin rally tied to global currency devaluation
- CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Caitlin Long, founder and CEO of Custodia Bank, reacts to the dismissal of the company’s lawsuit against the Federal Reserve.
- CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Caitlin Long, founder and CEO of Custodia Bank, reacts to the dismissal of the company’s lawsuit against the Federal Reserve.
- CNBC Crypto World has news but DYOR
- Bitcoin holds at $ 65,000, and ARK’s bitcoin ETF sees $ 87 million in outflows: CNBC Crypto World
- While most exchanges have some form of insurance protection for users, only Binance and Bitget have since disclosed their on-chain addresses. In 2019, crypto exchange Huobi, now HTX, announced a 20,000 BTC ($ 1.32 billion) reserve in an independent address “to cope with extreme security accidents.” It is unclear if the exchange held the balance until now. In addition, the HTX group of companies suffered several exploits last year to the tune of millions of dollars lost.
- Cryptocurrencies like Solana (SOL), Cardano (ADA), Polygon (MATIC), and BNB also ranked among the top six tokens for unrealized gains in 2024. SOL has recently enjoyed a renaissance thanks to liquidity flowing into meme coins on Solana’s ecosystem. BTC, ETH, and BNB are also the longest-held cryptocurrencies by investors.
- Crypto exchange insurance funds surge more than $ 1B amid bull market
- Gm all!!!
- And the halving impact
- Precisely, the exchange now houses approximately 390,000 Bitcoin, valued at around $ 20.5 billion. This balance represents less than 2% of the total Bitcoin supply on exchanges. Interestingly, this is the lowest proportion Coinbase has held since 2015, marking a shift in the exchange’s holding patterns, according to Glassnode.
However, it is important to clarify that the motivation for the transfer is as yet unconfirmed, and the Bitcoin has been transferred to wallets that data providers do not tag. UTXO management seems a likely option; however, it is also possible that the funds will provide new liquidity for OTC desks or that the funds have been purchased and transferred into self-custody.
- Hello
- ब्लॉकचेन का मतलब क्या है?ब्लॉकचेन **एक ऐसी प्रौद्योगिकी है जिससे बिटकॉइन (bitcoins) नामक मुद्रा का संचालन होता है**। यदि सरल शब्दों में कहा जाए तो यह एक डिजिटल 'सार्वजानिक बही खाता' (public ledger) है, जिसमें प्रत्येक लेन-देन अथवा ट्रांजेक्शन का रिकॉर्ड दर्ज़ किया जाता है। #btc #etc #ltc #xmr #eth #doge #shib #floki #bonk #cyclone #modi #op #arb #zksync #stark
- GN- Happy weekend
- GM everyone!!! How bullish are you on this week?