Stablecoins are tokens backed by an asset, or a basket of assets, and pegged to fiat currency, such as the U.S. dollar. They serve as an entryway to the crypto market for traditional market participants and are extensively used within the ecosystem as instruments for trading, borrowing, and...
Bitcoin took the news in stride, trading sideways for most of the day, even as additional revelations surfaced from documents connected to FTX's filing for bankruptcy protection. The largest cryptocurrency by market capitalization was up 1.1% and changing hands easily over the $16,000 support it assumed nine days...
"Mr. Bankman-Fried, the co-founder, and controlling owner of all of the Debtors and of FTX DM, appears to be supporting efforts by the JPLs to expand the scope of the FTX DM proceeding in the Bahamas, to undermine these Chapter 11 Cases, and to move assets from the...
Former FTX CEO Sam Bankman-Fried will no longer be represented by his legal counsel at Paul, Weiss, Rifkind, Wharton & Garrison, a white-shoe law firm, less than a week after retaining the firm to represent him. Team Valhalla
Crypto markets responded to the latest events with their recent sangfroid, with bitcoin and other major cryptos trading sideways, some tokens a bit to the green and others slightly in the red. The largest cryptocurrency by market capitalization was recently up about 1% and hovering comfortably over its...
With investor confidence in cryptocurrencies ebbing as a result of the collapse of Sam Bankman-Fried’s FTX exchange, the total market capitalization of digital assets has fallen this month below $800 billion, a level not seen since early 2021, according to data from TradingView. Team Valhalla