Coinbase CEO blames SEC for no regulatory clarity following FTX issue
Brain Armstrong, the CEO of Coinbase, speaking on the effect the FTX liquidity issue is having on American investors, blames the Securities and exchange commission (SEC) for not providing regulatory guidance. While the cryptocurrency exchange anxiously searches for investors, the FTX liquidity issue continues to worsen. The present issue has caught the attention of regulators […]
Justin Sun hints at partnership with troubled exchange FTX
In the wake of Binance canceling all future relationships with FTX exchange, Justin Sun, the founder of Tron, has alluded to a prospective collaboration with the cryptocurrency exchange. The founder of Tron Justin Sun stated that his team is collaborating with all FTX TRX holders while the cryptocurrency exchange struggles with a severe liquidity shortage […]
OpenSea to enforce creator royalties on all NFT collections
In response to creators’ uproar, OpenSea non-fungible tokens marketplace has declared that it will continue to impose creator royalties across all NFT collections moving forward. OpenSea announced on November 7 that they would be developing an on-chain tool that would allow producers to enforce royalties for new collections on the platform, but did not offer […]
JPMorgan and Bloomberg forecasts Bitcoin will fall to $13,000
According to JPMorgan experts, the FTX catastrophe may have caused the price of Bitcoin to plunge as low as $13,000. The American financial behemoth JPMorgan predicts that Bitcoin, which currently costs about $15,000, might go below its production cost. According to JPMorgan, the downfall of one of the biggest cryptocurrency exchanges would result in “a […]
Sequoia Capital reduces its $214 million stake in FTX to zero
Sequoia Capital, a venture capital firm, gave partners the assurance that it had conducted a thorough investigation before investing in FTX and had discovered that the exchange generated $1 billion in revenue and $250 million in operational income. Sequoia Capital, a venture capital firm, said in a letter to its partners on November 10 that […]