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In a recent development, Binance CEO, Changpeng Zhao or popularly referred to as CZ announced on Twitter that they have signed a non-binding LOI, intending to fully acquire the FTX cryptocurrency exchange. According to CZ, officials from FTX reached out to Binance as there was a significant liquidity crunch.
Binance intends to fully acquire the FTX exchange
Binance and FTX have struck a deal. The post FTX agrees to strategic transaction with Binance appeared first on The Block.
Sell pressure leads to Bitcoin breaking its local uptrend, building since October 23. The post Risk Signal flashes red as Bitcoin loses $20K amid Binance-FTX feud appeared first on CryptoSlate.
On-chain data has shown that FTX has stopped processing withdrawals for around two hours. The post Two hours without withdrawals puts FTX's liquidity in question appeared first on CryptoSlate.
Things are seemingly getting worse for FTX (FTT) token
The exchange war has begun. The Binance CEO publicly dukes it out with the FTX co-founder as rumors of FTX and Alameda Research financial distress fly.
On-chain Ethereum and Solana data shows that the exchange is no longer processing withdrawals.
Cryptocurrency exchange FTX, whose token FTT (CRYPTO: FTT) is reeling under intense selling pressure following Binance CEO Changpeng Zhao's announcement that Binance would offload all its holdings, has temporarily halted withdrawals Tuesday, according to Etherscan data. Data shows that the last withdrawal took place about three hours ago at 6:37 a.m.
Ethereum Buy The Dip Sentiment: The Ethereum (ETH) price was also affected with the FTX Binance spat over the last few days. However, retail traders and big whales are apparently anticipating a bull run in the near future.
A very public war of words between two otherwise affable constituents of the cryptocurrency scene has exposed long-running tensions brewing under the surface of the sector's biggest digital asset exchanges. In one corner is Changpeng ‘CZ' Zhao, head of the world's largest crypto exchange Binance.
Per a report from TheBlock, crypto exchange FTX halted withdrawals from its platform. The report uses Etherscan data to support its claim.
Bitcoin (CRYPTO: BTC), the most valued cryptocurrency in the world, recorded losses, falling below the $20,000 level this morning on Tuesday. Ethereum (CRYPTO: ETH) also moved lower to trade below the $1,500 mark on Tuesday.
An overview of the relationship between what happened to FTX, Bitcoin, and the entire crypto market
On November 8th Tuesday, the crypto market tumbles along with the rapid downfall in FTX token(FTT). This aggressive downfall is backed by FUD surrounding the FTX crypto exchange causing significant losses even in major altcoins.
The cryptocurrency market took a hit on Tuesday after Binance CEO Changpeng Zhao announced it would liquidate its entire FTX (CRYPTO: FTT) holding. This news sent shockwaves through the industry, causing a sell-off that sent the price of crypto exchange's FTX native token below $22.
After the Bitdao token's quickfire plunge on Nov. 7, members of the Bitdao community have asked Alameda Research to address rumors the principal trading platform has dumped Bitdao's BIT tokens.
Rumors that the FTX-affiliated trading firm Alameda Research is facing insolvency have caused users to withdraw funds from the FTX exchange en masse.
A day after Binance CEO Changpeng Zhao revealed he would offload all the FTT tokens in the company's kitty, FTX's native token (CRYPTO: FTT) nose-dived about 35% and made a low of $15.56, from a high of $23.15 it had made over the last 24 hours. FTT is currently trading at $17.20, down about 23%.
One of the largest cryptocurrency might have stopped processing withdrawals, according to on-chain data
The heat is turning up on FTX and Alameda with the exchange performing significant movements while some coins/tokens see increased volatility.
Crypto exchange FTX hasn't processed a withdrawal in more than two hours, according to on-chain data. The post FTX appears to have stopped processing withdrawals, on-chain data show appeared first on The Block.
FTX treasury has lost over $3 billion since the start of November, largely thanks to the implosion of its native token FTT and Solana (SOL) over the period. The post FTX treasury lost over $3B in a week, Binance treasury up over same period appeared first on CryptoSlate.
FTX and Binance look set to be the main event while traditional markets brace for economic indicators. The post FTX and Binance beef bothers crypto market, bitcoin plunges below $20,000 appeared first on The Block.
