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▪️About blockchain, cryptocurrency and crypto technologies. ▪️Actual entry and exit points in the cryptocurrency market 🔹Channel: @finsignal 🔹Buy ads: https://telega.io/c/finsignal
📈 Waiting for a rebound? Crypt in the morning
There is nothing new on the crypto market: it continues to fluctuate in the same range. The situation around FTX is developing slowly, and the unrest in China against the backdrop of the virus is negatively affecting risky assets. All this complicates the very "rebound".
Centralized companies are still proving that they have everything in order with liquidity. This, of course, is good for the industry, but at the same time it frightens investors: there is a risk that a “weak link” will form again.
Something else strange: the number of crypto wallets with a balance of $1 million has decreased by 80%, according to the Glassnode report. Now there are only 23 thousand of them. Perhaps it's all about lowering the price of cryptocurrency, as well as its distribution to many addresses.
• index of fear and greed 28 - "fear"
• market capitalization — $819.83 billion
• Bitcoin dominance — 37.16%
• alt season index — 39
@finsignal
🚀 Institutional investors continue to actively buy crypto
@finsignal
🎥 Bestselling author Michael Lewis may get a chance to cover another historic event - the crash of FTX
Lewis has spent the past six months "travelling and interviewing Sam Bankman-Freed," the former head of FTX.
This was reported to potential buyers of the film rights to the book.
“His childhood, early success on Wall Street, effective altruism, and the creation of a crypto empire that propelled him into the ranks of the world’s richest people in record time seemed more than enough for an authored book by Michael Lewis,” the author’s article says. .
Michael hasn't written anything yet, but the story has gotten too big to wait.
Lewis is one of the most successful and famous science fiction writers. "The Big Short" tells the story of investors who successfully bet on the housing market crash of 2008, while "Flash Boys" tells how computer-controlled traders changed Wall Street.
The rights to a book based on the collapse of FTX from author Michael Lewis may pass to Apple, according to media reports.
@finsignal
🚀Binance Plans to Create a $1B Fund to Buy Troubled Assets
"If that's not enough, we can allocate more," CZ said.
@finsignal
🔥 As soon as the institutional funds enter the game, the game is mathematically over for the bears
Only 0.32% of the #BlackRock investment fund is needed to buy all BTC stocks on exchanges
Fidelity has 34 million customers, which is 0.006 BTC for each ~$960
@finsignal
ℹ️ The spread of a new virus that steals cryptocurrency
Avast: Windows malware masquerades as a Google Chrome browser extension and steals information and cryptocurrencies. According to them, we are talking about an iteration of the ViperSoftX malware known since 2020.
The main source of distribution of the Trojan are torrent files of pirated software Adobe Illustrator, Corel Video Studio, Microsoft Office, etc. The malware masquerades as a regular line of code in the log file of the cracked program package.
@finsignal
📊 Coinbase reported on Grayscale assets, did you panic for nothing?
The underlying digital assets of each of Grayscale's products are exclusively owned by
each of our products.
The "holder" and "custodian" of Grayscale funds - Coinbase Custody is a wholly owned subsidiary of Coinbase Global and is licensed to hold customers' digital assets as a New York registered trust company limited by shares.
Coinbase Custody has been regulated by the New York State Department of Financial Services since 2018. The same scheme is used to supervise the largest US banks.
Grayscale digital assets have their own on-chain addresses as we use a per-customer custodial split: Coinbase Custody ensures that the customer's digital assets are in deep cold storage, both from
property of Coinbase Custody, as well as from the assets of other clients.
This means that the digital assets at the heart of every Grayscale product will never be mixed with the digital assets of any other customer.
@finsignal
💸 South Korea and Singapore hit hardest by FTX scam
CoinGecko compiled a list of 30 crash-affected countries based on the number of monthly visitors to FTX. South Korea, Singapore and Japan were the hardest hit by FTX's insolvency.
In its analysis, CoinGecko noted that South Korea ranks first in the number of monthly FTX users, with a traffic share of 6.1%. In addition, the data shows that FTX.com receives an average of 297,229 unique monthly visitors from South Korea.
Singapore is the second country hit hard by the FTX crash, according to CoinGecko. Based on monthly traffic on FTX.com, Singapore users make up 5% of the total. That's roughly 241,675 monthly unique users.
The country with the third largest FTX user base was Japan. Moreover, earlier this year, Japanese investment firm SoftBank invested $100 million in a cryptocurrency exchange led by SBF.
@finsignal
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USTC
Medium-term expect from 100% and above
It is possible to see 0.28 and higher cents in the bull run, and perhaps a recovery to the buck if Tera does everything that was promised
@finsignal
📈 Huobi Token jumped 10%
Rise in the price of $HT following Huobi Global's announcement of delisting several tokens from its platform as part of "an effort to promote the healthy development of the blockchain ecosystem."
According to the announcement, Huobi will stop supporting Covalent ($COVA), CVCOIN ( $CVNX ), Crypto trading. com ($CRO), DigixDAO ( $DGD ), EchoLink ( $EKO ), EdgeSwap ( $EGS ), Themis ($GET), Global Social Chain ( $GSC ), NeuroChain Clausius ( $NCC ), Origo.Network ( $ OGO ), Odyssey ( $OCN ), Sirin Labs ( mSRN ), Smartshare ( $SSP ), VVS Finance ( $VVS ), WonderHero ( $WND ), and Zenith ( $ZNT ). ), as of 25 November.
At the moment, ecosystem tokens of centralized platforms are a huge risk, after the collapse of the FTX exchange, as they may fall under a wave of regulation. Huobi Global previously released a report on its assets to the world, where as of November 12, the platform had 191.84 million $HT tokens ($900 million), as well as 9.7 billion 000 $BTC as well as several other coins including $ATOM, $ADA, $BCH , $DOGE, $DOT, $MATIC, $SHIB and $ETC.
The total estimated value of Huobi's reserves was $3.5 billion, the report said.
@finsignal
😎 Hacker who hacked FTX
The funny thing about it all is that Ren Bridge belongs to Alameda
@finsignal
#LastNews
🔹️Binance will remove 3 trading pairs with Serum
🔹️Binance Raises Industry Recovery Fund to $2B
🔹️Amber Group co-founder Tiantian Kullander dies
🔹️Tether blocked another 1,127,269 USDT on the Ethereum blockchain
🔹️El Salvador has opened a BTC office that will manage, plan and execute programs related to cryptocurrencies
🔹️The Belgian regulator said that Bitcoin and Ethereum do not have an issuer and do not meet the characteristics of securities, therefore they should not follow financial rules
🔹️The largest DEX aggregator 1inch introduced the "RabbitHole" feature to protect MetaMask users from "front running" - manipulation to generate additional income through forward transactions
@finsignal
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This is a sign from the future
@finsignal
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📉 New York has introduced a two-year ban on mining. Negative for the industry!
New York Governor Katie Hokul has signed a moratorium on mining cryptocurrencies using carbon electricity. The moratorium provides for a freeze on the current levels of carbon emissions from mining, that is, miners using energy generated from hydrocarbons will no longer be able to expand their capacity.
The moratorium will remain in effect until the authorities study the potential environmental impact of Proof-of-Work (PoW) mining. Hawkud said she will ensure that New York City continues to be a center of financial innovation and take important steps towards protecting the environment.
The bill raised fears in the industry that other states would follow suit and hurt an industry already struggling with the fall in the value of cryptocurrencies.
Crypto regulation is on all fronts, and this news is negative for the industry and for the cost, as the US ranks first in terms of mining capacity. If other states start to impose similar bans, miners will start selling equipment and mined cryptocurrency.
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⚡️ Decline in trading volumes on centralized exchanges in a week
Huobi by 82%
Bitfinex at 75%
Binance by 60%
Gemini volumes down 56% after the exchange suspended its Earn program
@finsignal
⚡️ You can now see the reserves of some crypto exchanges on CoinMarketCap
Look for the special symbol next to the platform name in the list 🧐
@finsignal
😟 Genesis Crypto Brokerage Warns of Bankruptcy Risks
Genesis executives spent the weekend looking for funding, previously, Genesis's lending arm had suspended withdrawals following the FTX crash.
Digital asset brokerage Genesis is trying to raise fresh cash for its lending arm and is warning potential investors that it may have to file for bankruptcy if it fails.
Genesis has spent the past few days looking for at least $1 billion in fresh capital.
According to rumors, it was also about potential investments from the Binance cryptocurrency exchange. However, Binance, Galaxy, and the Gemini exchange have reportedly already refused to help Genesis.
@finsignal
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⛏ Binance Launches Cloud Mining Service Today
The exchange does not plan to purchase its own equipment, we are talking about reselling the hashrate of large miners.
@finsignal
🤹🏻♀️ Excuse or excessive caution?
Grayscale does not want to provide proof of its reserves for security reasons
Crypto asset management giant Grayscale has not picked up on the new trend of providing proof of reserves that emerged after the FTX crash.
In a Twitter post, Grayscale stated that all digital assets underlying its products are held by Coinbase Custody Trust Company, but for security reasons, the company will not provide cryptographic evidence of its reserves.
"Coinbase often performs on-chain verification. For security reasons, we don't make information about wallets and on-chain confirmations public."
The fund believes that the panic caused by the collapse of FTX is not a good enough reason to circumvent the complex security mechanisms that have kept investors' assets safe for years.
Grayscale is the largest public holder of BTC, holding 635,256 coins or over 3% of the total supply.
The company claims that it does not lend, trade, or repledge digital assets, and that all BTC in its Bitcoin Trust is solely owned by the trust.
@finsignal
⚡️ And here is the regulation
5 top crypto exchanges committed to sharing customer data
Coinbase, Binance, KuCoin, WhiteBit and Kraken have signed a memorandum with ARMA (Asset Search and Management Agency) regulator.
During the course of this memorandum, the exchanges undertake to transfer customer data if requested to do so.
- identity document
- e-mail
- IP addresses
- data on completed transactions
- information on additional crypto wallets and bank accounts
- Details to which the funds were withdrawn
"Virtual assets, primarily cryptocurrency, are often used for settlements in criminal activities, as well as for legalization and money laundering. The desire of large businesses and small private investors to profitably invest their capital has increased interest in digital assets, and, consequently, in the use of criminals and swindlers."
@finsignal
⚡️ FTX Reorganization Press Release
WILMINGTON, Del., Nov. 19, 2022 /PRNewswire/ -- FTX Trading Ltd. (d.b.a. FTX.com) and approximately 101 other affiliates (collectively "FTX Debtors") announced today that they are beginning a strategic review of their global assets as part of the Chapter 11 process to begin maximizing recoverable value for stakeholders.
FTX debtors have engaged Perella Weinberg Partners LP ("PWP") as a lead investment bank and have begun preparing some businesses for sale or reorganization. Involvement of PWP must be approved by the court.
"From our review over the past week, we are pleased to learn that many of FTX's regulated or licensed subsidiaries in the US and beyond have solvent balance sheets, responsible management and valuable franchises," said Mr. John Jay Ray, III.
"Some of these subsidiaries - such as LedgerX LLC and Embed Clearing LLC - are not debtors in Chapter 11 cases. Other subsidiaries - such as FTX Japan KK, Quoine Pte. Ltd, FTX Turkey Teknoloji Ve Ticaret A.Ş., FTX EU Ltd, FTX Exchange FZE and Zubr Exchange Ltd are all debtors and in any case our priority in the coming weeks will be to explore the possibility of a sale, recapitalization or other strategic deals in relation to these subsidiaries, as well as others that we will identify as we continue our work."
Ray further commented: “I have instructed the FTX debtor team to make it a priority to preserve the value of the franchise as much as possible under these difficult circumstances. I urge all of our employees, suppliers, customers, regulators and government stakeholders to be patient while we We are creating mechanisms that, due to corporate governance weaknesses at FTX, we were unable to create before the Chapter 11 case was filed."
FTX's debtors today filed various petitions in bankruptcy court seeking temporary relief from the court, which, if granted, would enable the launch of a new global cash management system and regular payments to critical and overseas affiliate suppliers.
The hearing has been scheduled for Tuesday, November 22, 2022.
FTX Debtors has not set a specific timetable for completing this process, and they do not intend to disclose further developments until they determine that further disclosure is appropriate or necessary.
FTX debtors have appointed #Kroll as their claims agent and all official documents filed in the US Bankruptcy Court can be found online at https://cases.ra.kroll.com/FTX
@finsignal
📈 They won't let you grow. Crypt in the morning
The situation with FTX, the possible problems of the largest Grayscale fund, and the growing risks of the largest cascading liquidation of multiple assets in the history of the crypto, do not allow the markets to grow.
The lack of a clear decision on how exchanges and funds will pay their clients and investors creates the risk of selling all the assets that remain in the stocks of these organizations on the market.
The lack of a clear decision of regulators and law enforcement agencies also adds to the uncertainty. Tighter regulation against this background may scare away investors who have come to the market for its openness and simplicity. On the other hand, regulation could help avoid incidents like the FTX crash in the future.
Index of fear and greed 21 - Extreme fear.
Market capitalization - $ 799.47 billion.
Bitcoin dominance is 37.85%.
Altseason index - 43
@finsignal