Stablecoin issuer Tether Holdings Limited published its latest quarterly attestation on Nov. 10, highlighting the “extremely liquid” nature of its assets at a time when crypto markets were reeling from news of FTX’s apparent insolvency.  Eighty-two percent of Tether’s reserves were held in cash, cash equivalents and other short-term deposits as of Sept. 30, 2022, the company disclosed in its […]

In what appears to be the new trajectory amid the downfall of giant crypto exchange FTX, Crypto.com has become the latest exchange to promise its customers that it will publish an audited Proof of Reserves (PoR). “We share the belief that it should be necessary for crypto platforms to publicly share proof of reserves and Crypto.com will be publishing our […]

Maxine Waters, chair of the United States House of Representatives’ Financial Services Committee, pushed for additional federal oversight of crypto trading platforms and consumer protection amid FTX facing liquidity issues. In a Nov. 10 statement, Waters cited FTX’s difficulties as the latest example of incidents “involving the collapse of cryptocurrency companies” and how such events could potentially impact consumers in […]

In light of the FTX liquidity crisis and the near-acquisition by Binance, Binance CEO Changpeng “CZ” Zhao assured his community that his network would provide full transparency on asset holdings. On Nov. 10, Binance published a new page titled “Proof of Assets” on which all details are available of its on-chain activity for its hot and cold wallet addresses. This comes […]

In one of his first public statements since rumors and concerns about FTX’s insolvency flooded the crypto market, CEO Sam Bankman-Fried, or SBF, has said: “I’m sorry.” In a Nov. 10 Twitter thread, SBF admitted to investors he “should have done better” in providing transparency on the situation with FTX. The CEO reported that the exchange was experiencing a “liquidity […]

Ripple (XRP) is in a downtrend as sellers broke through $0.41 support. The altcoin fell to a low of $0.31. Due to the current decline, XRP has entered the oversold zone. It can be assumed that XRP will soon resume an uptrend if there are buyers in the oversold area. The August 28 price level has served as current support […]

Hardware-based cryptocurrency wallet provider Ledger has experienced some issues due to massive outflows from crypto exchanges amid the FTX bloodbath, according to its chief technology officer. Ledger saw a “massive usage” of their platforms and suffered a “few scalability challenges” on Nov. 9, Ledger CTO Charles Guillemet reported in a statement on Twitter. Guillemet reasoned Ledger’s issues by the outcomes […]

All dates are Coordinated Universal Time (UTC). Updates are in reverse order —the latest updates are at the top. Nov. 9 — FTX website urges against depositing, unable to process withdrawals FTX’s website experienced downtime on Nov. 9 for around two hours and when brought back online, came with a warning strongly advising against depositing and that the exchange was […]