FTX took $3.7B loss in 2021; Coinbase reveals Grayscale Bitcoin reserves


The largest information within the cryptoverse for Nov. 21 consists of FTX’s name to different exchanges to count on and forestall hacker money outs, Coinbase disclosing Grayscale’s 635,000 Bitcoin reserve, and Financial institution of England’s claims that blame the FTX crash on the FTT token run.

CryptoSlate High Tales

FTX forewarns exchanges to freeze stolen funds to prevent hacker cashing out

On Nov. 20, bankrupt FTX introduced that every one crypto exchanges ought to be on excessive alert concerning unauthorized fund transfers from FTX International to associated debtors.

In accordance with FTX, the funds had been being transferred via intermediate wallets. The trade warned all others to take mandatory precautions to grab and return the funds, provided that they by some means are despatched via their techniques.

Grayscale holds 635K BTC as Coinbase Custody reveals holdings

Grayscale’s custodian accomplice Coinbase stepped in to deal with the considerations concerning the monetary standing of the fund. Coinbase printed a report disclosing the property it held on behalf of Greyscale.

In accordance with the report, Greyscale at the moment owns round $10 billion value of Bitcoin. This quantity can be nearer to $43.8 billion on the peak of the bull market. Greyscale additionally holds 3,056,833 Ethereums.

BoE speculates FTT token fire sale may have sparked FTX collapse, calls for widespread regulation

Throughout his speech on Nov. 17, the Financial institution of England’s Deputy Governor Jon Cunliffe stated that the FTX crash was triggered by the FTX Token token run. He acknowledged:

“Certainly, within the FTX case, there are indications that it may have been a run on its crypto coin, FTT, which triggered the collapse.”

Cunliffe additionally stated that the crypto sphere had confirmed to be unstable in the course of the previous 12 months. Cunliffe argued that the crypto trade should be introduced below rules to be stabilized.

‘Boring’ Litecoin makes play for top 10 amid market meltdown

Litecoin’s (Litecoin) has been spiking and at the moment stands at rank 15 available in the market cap. That is six spots greater than LTC’s rating as twenty first on Oct. 30.

Litecoin basis’s managing director Alan Austin tweeted to share the climb in LTC by shouting out to those that known as Litecoin “boring.”

FTX Exploiter ups the ante with 200K ETH move

After shifting 50,000 Ethereum (Ethereum) on Nov. 20, the FT X exploited moved one other 195,000 Ethereum on Nov. 21. The attacker transferred these funds in 13 transactions,

Ren Bridge announces open source community led Ren 2.0 in response to Alameda fallout

The Ren Bridge venture introduced Ren 2.0, additionally known as ‘Ren Neighborhood’ on its Medium account on Nov. 18. The Ren 2.0 will probably be a  fully-decentralized and community-owned cross-chain community.

Singapore’s watchdog says Binance placed on Investor Alert List over FTX due to unlicensed activity

The Financial Authority of Singapore (MAS) defined why it positioned Binance on its Investor Alert Record (IAL) and left FTX out of it. It stated that Binance was actively searching for customers to onboard in Singapore, whereas FTX wasn’t. MAS additionally added that neither trade is licensed to function within the nation.

Hedge fund investor Bill Ackman shills crypto, reveals investment

Hedge fund investor billionaire Invoice Ackman introduced that the thrilling crypto initiatives he found modified his skeptical stand in the direction of crypto.

Ackman introduced his change of coronary heart on his Twitter account. Regardless that he didn’t disclose the initiatives, he stated they enabled the formation of helpful companies and applied sciences.

Analysis Spotlight

Research: Genesis received over $1B worth of FTT from Alameda, FTX in last 3 months

Analyzing the Arkham Intelligence’s dashboard, CryptoSlate analysts revealed that crypto lender Genesis acquired billions of {dollars} value of FTT tokens from FTX and Alameda Research.

FTX’s FTT Transfers to Genesis (Source: Arkham Intelligence)
FTX’s FTT Transfers to Genesis (Supply: Arkham Intelligence)

Genesis acquired $932.56 million value of FTT tokens from FTX and $141.1 million value of FTT from Alameda, all over the last three months.

Information from across the Cryptoverse

FTX, Alameda took a $3.7B loss in 2021

Primarily based on 2021 tax returns, the FTX corporations had federal web working loss carryovers within the quantity of at the very least $3.7 billion and state web working loss carryovers within the quantity of at the very least about $715 million, the latest filings from the FTX chapter case present.

Coinbase shares hit an all-time low

Coinbase stock price
Coinbase inventory value

Coinbase inventory costs recorded a brand new all-time low at $40.81 on Nov. 21. On the time of writing, the shares are being traded for round $41.10.

Uniswap collects customers’ on-chain information

Main decentralized trade Uniswap up to date its dedication to privateness to announce that it’s gathering its customers’ on-chain information. The trade stated it determined to take action “to make data-driven choices that enhance person expertise.”

Crypto Market

Within the final 24 hours, Bitcoin (BTC) declined by 4.14%  to commerce at $15.835, whereas Ethereum (ETH) fell by 5.94% to commerce at $1,106

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